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The importance of a fully modern open space preservation vehicle – a conservation easement in Ohio – cannot be better summarized than by our 26th President. Theodore Roosevelt, one of the nation’s original land protectionists, embodied the power and beauty of a conservation easement in the following quote: “Here is your country.
Instead, the complexity stems from the unique characteristics of the property, the lack of readily available comparable sales data, or the existence of special legal or environmental considerations. They often feature one-of-a-kind architectural designs, custom-built elements, extensive acreage, and unique amenities.
” Highest and Best Use is the reasonable, probable, and legal use of vacant land or an improved property. Legally permissible. If not, obtain one, specifically covering boundaries to learn if easements or encroachments exist.). Are existing structures considered legal non-conforming use? Physically possible.
Because a property looks great doesn’t mean all legal entanglements have been resolved, or there aren’t unforeseen challenges. Learn about roads, easements, and property rights: Consider spending the afternoon or night on the land that’s for sale, if possible. Learn about easement rights and road access.
The physical, legal, or economic descriptions of the property are in question. Consider the grantor’s position when considering a disbursement for a mixed-use development, conservation easement, or specialty use property. It isn’t clear who owns the appraised property. Too much time has elapsed between the CRE appraisal and the loan.
” “I have a life long time in agriculture and worked at a title company, giving me a good understanding of legal descriptions and easements.” Also, I have appraised multiple airports and done various easement studies for research.” ” “I have a designation from the Appraisal Institute.”
It’s not just about acquiring designations but staying informed about market dynamics, industry changes and emerging trends. Acre lot, built in 1962 John Sugden, a disciple of Mies van der Rohe and a luminary in architectural design, crafted this home with a robust U.S The appraisal includes no recent sales of similar design.
In many cases, a known easement or encroachment or even pending land use changes can be considered latent defects. The seller disclosure forms do not ask and there is no requirement in Georgia for a seller to note repairs made provided the item is functioning as designed. Real estate agents have certain obligations as well.
There is administrative time involved, as well as legal factors. If it appears to a VA appraiser that the appraised value of a property is going to come in below the pending sales price, the appraiser must contact the designated point of contact (POC) party that is specified in the appraisal order. First, the burden on borrowers.
A home appraisal is a legal document containing information that determines the current fair market value of a new or existing property. Functionality of design and layout. Any existing easements or zoning issues. They are also used to assess the value of the home for home improvement loans and insurance evaluations.
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