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What is ‘Appraised Value’ in Farm Real Estate?

There are many terms and concepts used in agricultural real estate and the farm appraisal is perhaps one of the most important.

  • Appraisals provide an objective opinion of value, but it’s not an exact science so appraisals may differ.
  • For buying and selling purposes, a farm appraisal is usually based on market value — what the property could probably be sold for. Other types of value include insurance value, replacement value, and assessed value for property tax purposes.
  • Appraised value is not a constant number. Changes in market conditions can dramatically alter appraised value.
  • Appraised value doesn’t take into account special considerations, like the need to sell rapidly.
  • Lenders usually use either the appraised value or the sale price, whichever is less, to determine the amount of the mortgage they will offer.

Next read about why you should consider Lisa in your next farmland transaction!

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Lisa Taylor

Lisa Taylor

Indiana REALTOR® Crawfordsville Specialist
765-225-4123
Contact Lisa
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Testimonials

"She listened to our wishes and found the right buyer with offer in hand the next day. I would not hesitate to recommend her to anyone. We spoke for about... continued"
- Harold & Heather Brotherton
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Reviews on Zillow
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"Lisa was very helpful in listing my mother-in-law's residence. Once the listing was complete, it was sold the next day! We did have a couple of ... more "
5.0/5.0
by terrig100
1959909
"I first met Lisa when I was looking to buy a house. Her knowledge and expertise made it a great experience so when I had a house to sell I went to ... more "
5.0/5.0
by donnaj8

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Lisa Taylor

Specializing in Crawfordsville
& Western Indiana Real Estate

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