APPRAISALS -- Evergreen Land Services Company (ELS) offers appraisal services to our clients. ELS has on staff two Certified General Real Property Appraisers who have considerable experience in appraisal, especially with the appraisal of partial acquisitions. ELS can provide the following appraisal formats:
Narrative Appraisals -- the most complete type of written appraisal report in which an appraiser supports and explains the opinions and conclusions of value. Can be used on any appraisal, but is typically used for more complex valuations or acquisitions.
Uncomplicated Appraisals -- as per the Mn/DOT Right of Way Manual, uncomplicated acquisition appraisals "may be used for those acquisitions which, because of their low value or simplicity, do not require the in-depth analysis and presentation necessary for self-contained appraisals. These are simple total takings of low-valued land, or partial acquisitions (strip takings). If there are severance damages to the remainder, they must be nominal." Generally, uncomplicated appraisals should not be used in Eminent Domain Proceedings.
Direct Valuation Reports (DVR) -- this is an abbreviated appraisal used on acquisitions of $10,000 or less. Generally, the Direct Valuation Report is used on simple partial acquisitions where only land and minor improvements are involved. Direct Valuation Reports do not require appraisal review. The DVR has replaced the MDA (Minimum Damage Assessment). DVRs meet the definition of an appraisal while the MDA did not.
On governmental acquisitions, all appraisal reports acknowledge that the ELS appraiser has contacted or attempted to contact the landowners to give them an opportunity to accompany the appraiser on the appraisal inspection. This is a requirement of the "Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970" (commonly known as the Uniform Act). ELS appraisers treat property owners with respect.
Appraisals are prepared in conformance with the Uniform Standards of Professional Appraisal Practice (USPAP) as well as Mn/DOT or other agency regulations.
APPRAISAL REVIEW -- ELS can also provide appraisal review services. Reviews can be via form or narrative reports, depending on the client's request and the complexity of the appraisal. Review criteria include sound appraisal principles and USPAP conformance, as well as Mn/DOT or other agency regulations.
