agricultural property
292) Agricultural Property
04/05/08
Dear Henry,
Regarding the question on agricultural properties, I believe the regulations are in regard to use and not zoning. In our market, many properties have some additional acreage, are in an AG zone, are not farms and are accepted by Fannie and Freddie.
Regards,
James T Scholl jamestscholl@yahoo.com
Dear James,
It is not really the appraiser's problem to determine if a mortgage is eligible for purchase by Fannie Mae or Freddie Mac. However, when a lot is large and the zoning is agricultural, it is helpful to your client to make it very clear how the property is being used and what the highest and best use is.
H2
Regarding the question on agricultural properties, I believe the regulations are in regard to use and not zoning. In our market, many properties have some additional acreage, are in an AG zone, are not farms and are accepted by Fannie and Freddie.
Regards,
James T Scholl jamestscholl@yahoo.com
Dear James,
It is not really the appraiser's problem to determine if a mortgage is eligible for purchase by Fannie Mae or Freddie Mac. However, when a lot is large and the zoning is agricultural, it is helpful to your client to make it very clear how the property is being used and what the highest and best use is.
H2
260) Agricultural Property & Freddie Mac
03/05/08
Dear Henry,
My subject property is zoned Agricultural/conservation (7 acres). Would this be a problem for sale to Freddie Mac?
Name Withheld by Request
Dear Friend,
Yes. Agricultural properties are a specific exclusion from Fannie Mae's or Freddie Mac's portfolio acquisitions.
H2
My subject property is zoned Agricultural/conservation (7 acres). Would this be a problem for sale to Freddie Mac?
Name Withheld by Request
Dear Friend,
Yes. Agricultural properties are a specific exclusion from Fannie Mae's or Freddie Mac's portfolio acquisitions.
H2
128) Agricultural Property Form
09/03/07
Dear Henry,
I have been asked to do an appraisal on a total of 67.8 acres with a farmhouse, barn and 2 car garage on 3 parcels of land, zoned agricultural preservation. Can this be completed on a FNMA form?
Donald Brown bjappraisal@hotmail.com
Dear Donald,
Using the new URAR would not be my first choice as you'd have to make so many changes to it that it would become very confusing to the reader.
While you could use the Classic URAR or the new AI appraisal form, in my opinion for an assignment of this complexity, it would be much better to use a short form narrative report.
Hopefully, you have at least a residential certification as this sounds like a demanding assignment.
H2
I have been asked to do an appraisal on a total of 67.8 acres with a farmhouse, barn and 2 car garage on 3 parcels of land, zoned agricultural preservation. Can this be completed on a FNMA form?
Donald Brown bjappraisal@hotmail.com
Dear Donald,
Using the new URAR would not be my first choice as you'd have to make so many changes to it that it would become very confusing to the reader.
While you could use the Classic URAR or the new AI appraisal form, in my opinion for an assignment of this complexity, it would be much better to use a short form narrative report.
Hopefully, you have at least a residential certification as this sounds like a demanding assignment.
H2