Blogs

ASFMRA Partner Message: Engagement Letters

By ASFMRA Press posted 30 days ago
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By Claudia Gaglione, Esq. National Claims Counsel LIA Administrators & Insurance Services Not just a quaint display of business etiquette, the Engagement Letter can be an effective tool to protect your liability exposure. Many claims against real estate appraisers arise because of misunderstandings between the client and the appraiser about various aspects of the appraisal assignment. The Engagement Letter can provide you with vital documentation that key elements of the report were considered and accepted in advance by the client. In one claim reported to our office, the client alleged the appraiser valued the incorrect parcel of land. Unfortunately, ...
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ASFMRA Partner Message: Access the Largest Land Sales Database Available

By ASFMRA Press posted 08-05-2024
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Valuing rural land comes with a set of unique challenges, from local nuances to the time consuming process of tracking down reliable comparable sales. Learn how rural appraisers and farm managers use Acres to quickly value land. Why It Matters: Land professionals provide invaluable expertise that cannot easily be replicated by technology. At Acres, we believe a more efficient market begins with putting the most up-to-date and largest national sales database in the hands of land professionals. How It Works: Acres provides a searchable nationwide database with the most recent and relevant sales data in the industry, plus the ability to export ...
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Easements: Issues and Appraiser Liability

By ASFMRA Press posted 07-09-2024
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By Claudia Gaglione, Esq., National Claims Counsel for LIA Administrators & Insurance Services – A Preferred Partner of the ASFMRA In the past year we have encountered several claims against appraisers involving easements, regardless of whether the easement is recorded or not. Unfortunately, as an appraiser, you can be sued for any type of issue at any time. While we cannot prevent lawsuits, we strive to learn from these claims. By examining reports, we identify language that has been beneficial to appraisers and their legal counsel. Our goal is to share suggestions that might help appraisers resolve claims or lawsuits more swiftly. ...
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Don’t Make the Same Mistake Twice

By ASFMRA Press posted 11-28-2023
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By Claudia Gaglione, Esq., Gaglione, Dolan & Kaplan National Claims Counsel for LIA Administrators & Insurance Services In the world of real estate appraisals, a cardinal rule should always be "Don't Make the Same Mistake Twice!" Unfortunately, there have been recent incidents that underscore the importance of treating each appraisal assignment as a unique endeavor rather than a mere repetition of the past. Problems tend to emerge when appraisers or appraisal firms simply recycle information from older reports into new ones without conducting thorough checks and verifications. It should never be assumed that all the information from previous appraisals ...
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2023 ASFMRA Awards Presented in Nashville

By ASFMRA Press posted 11-21-2023
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FOR IMMEDIATE RELEASE Contact: Andrew Eames Tel. 303.692.1210 Email: aeames@asfmra.org Rural Property Professionals Receive Recognition Awards Given at 2023 ASFMRA Annual Conference in Nashville November 15, 2023 Glendale, Colo. – The American Society of Farm Managers and Rural Appraisers® (ASFMRA®) honored dozens of rural appraisers, farm managers and consultants today during the 2023 ASFMRA Annual Conference on November 15, 2023, in Nashville, Tennessee. At the Accreditation and Awards Ceremony, sponsored by Hertz Farm Management, it was announced that 13 ASFMRA members received their Accredited Farm Management (AFM) designation, while one member ...
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Septic Tanks... Again!!

By ASFMRA Press posted 11-08-2023
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By Claudia Gaglione, Esq., Gaglione, Dolan & Kaplan National Claims Counsel for LIA Administrators & Insurance Services It may seem like we talk about septic tanks quite frequently, and this is due to the persistent occurrence of claims stemming from septic tank problems. Rural properties often lack connections to public sewers, relying instead on septic tanks for waste management. It's essential for appraisers to dedicate attention to incorporating septic tank-related language into their reports. By doing so, they can provide valuable support when these claims arise, equipping their legal counsel with the necessary information to defend their case ...
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Land Value Trends in Select Farmland & Timberland Regions, 2021-2023

By ASFMRA Press posted 11-07-2023
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Staying up-to-date with land value trends and total transactions is imperative for appraisers, farm managers, and other land professionals. Here are findings for land value and transaction history trends within the past 2 years for prime farmland (Illinois and Iowa) and timberland (Georgia) markets in the US. Results were gathered from AcreValue’s online sales records database using the Market Dashboard and property mapping services. Prime Farmland, Examples from Illinois The average sale price per acre of prime farmland* across Illinois has been steadily increasing over the past 2 years (Q4 2021 – present). When data for the prior 2 years is included ...
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Foreign Investment in U.S. Farmland

By ASFMRA Press posted 08-15-2023
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By Kirk Weih, AFM Foreign investment in U.S. farmland continues to be a sensitive topic for many Americans, with concerns ranging from food security to national security. The global landscape has seen various countries and foreign individuals channeling their resources into American agriculture, raising questions about who is investing in U.S. farmland and the implications of such investments. The impact of public policy, the balance of trade, and the potential consequences for American agriculture have prompted policymakers to address these issues. Senator Joni Ernst (R-IA), in her role as a member of the Senate Committee on Agriculture, Nutrition and Forestry, ...
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Vacant Land: Make Sure You Are Appraising the Right Property

By ASFMRA Press posted 06-27-2023
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By Claudia Gaglione, Esq., Gaglione, Dolan & Kaplan, National Claims Counsel for LIA Administrators & Insurance Services Imagine that you have accepted an assignment to appraise 15 acres of vacant land located in a remote area. You have been given several pieces of information such as an address, a plat map, a legal description, and a survey. As you make your way to what you believe is the correct location, doubts start to creep in. Are you absolutely certain that you have arrived at the right place? As far as your eyes can see, there is nothing but empty land stretching for miles. Occasionally, you spot a few scattered outbuildings and broken ...
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2022 ASFMRA Awards Presented in San Antonio

By ASFMRA Press posted 11-11-2022
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FOR IMMEDIATE RELEASE Contact: Andrew Eames Tel. 303.692.1210 Email: aeames@asfmra.org Rural Property Professionals Receive Recognition Awards Given at 2022 ASFMRA Annual Conference in San Antonio November 9, 2022 Glendale, Colo – The American Society of Farm Managers and Rural Appraisers® (ASFMRA®) honored dozens of rural appraisers, farm managers and consultants at the 2022 ASFMRA Annual Conference on November 9, 2022, in San Antonio, Texas. At the Accreditation and Awards Ceremony, sponsored by Hertz Farm Management, it was announced that 24 ASFMRA members received their Accredited Farm Management (AFM) designation, while an additional ...
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The Continuing Problem With Septic Tanks

By ASFMRA Press posted 10-19-2022
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By Claudia Gaglione, National Claims Counsel for LIA Administrators & Insurance Services Rural properties and acreage are rarely serviced by public sewers. In many cases, the waste disposal system on site is noted as being a septic system. Unfortunately, problems with the septic system continue to be an ongoing source of claims made against appraisers. We cannot offer any magic language that will keep the appraiser from being sued when a septic system problem comes up; but we might get the appraiser dismissed out of the case after a motion is filed or perhaps, we can convince the Judge, or the mediator, that the appraiser is the least culpable of the ...
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When It Is Business as Usual

By ASFMRA Press posted 08-04-2022
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By Claudia Gaglione, National Claims Counsel for LIA Administrators & Insurance Services We have seen several rural appraiser insureds receive discipline from their state licensing boards for their failure to account for the fact that commercial operations were taking place on rural properties they appraised. In one situation, there was a large sign at the road that read “Fresh Blueberries.” There was also a separate dirt road/driveway leading up to a greenhouse/outbuilding that was located away from the main residence. Adjacent to the greenhouse, there were other signs which appeared to depict other produce items for sale. The appraiser did not see ...
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2022 Update: Where’s the Water?

By ASFMRA Press posted 06-09-2022
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By Claudia Gaglione, National Claims Counsel for LIA Administrators & Insurance Services We continue to see claims alleging that the rural property appraiser failed to adequately identify or report details surrounding a water source. In one claim, the appraiser correctly noted that the property was serviced by a “private water well.” It was later discovered that the well was not located on the property which was appraised. Unfortunately, the well was actually located on an adjacent lot that, at one time, was part of the subject lot prior to the lots being subdivided. In another matter, the report said the property was serviced by “public water.” While ...
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Fact Checking the 6666 Ranch Story

By ASFMRA Press posted 03-29-2022
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E arlier this year, the ASFMRA ran a story in its bi-weekly newsletter, Ag News , covering the sale of the famous Four Sixes Ranch in Texas to Taylor Sheridan, creator of the hit TV show “Yellowstone.” This story contained inaccurate and incomplete information pertaining to the sales price and acreage of the Four Sixes Ranch. The article , which appeared on the “Taste of Country” website, made the following statement regarding the transaction: “The legendary Four Sixes Ranch […] was recently sold for just under $200 million to a group that's believed to be led by Yellowstone creator Taylor Sheridan. Initial listings show that the owners sought more than ...
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Sewer Versus Septic: Lesson Learned

By ASFMRA Press posted 10-06-2021
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By Claudia Gaglione, National Claims Counsel for LIA Administrators & Insurance Services One of the most common claims made against appraisers continues to be the “sewer versus septic” claim. This claim arises when the appraisal states the subject property is connected to the public sewer and it is later discovered that the property is actually serviced by a private septic system. The borrower/purchaser may allege they paid too much for the property or they may simply seek to recoup the cost to connect to the public sewer. In a recent claim, the insured appraised a property that consisted of a single-family residence located on about 3 acres. There was ...
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Land Loans, Equity Crowdfunding, and Beyond: Know Your Farm Financing Options

By ASFMRA Press posted 07-01-2021
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Farmers know it well: in order to make money, you have to spend money. When you’re looking to buy a farm, expand your farming business, or improve a piece of farmland, the first thing you need is some capital to make it happen. There are myriad options for financing land purchases or farm business expansion, including a few that are less conventional but just as effective. This article reviews some of the most common routes to accessing farm capital and introduces some debt-free alternatives that you may not be aware of yet—but are helping farmers across the U.S. accomplish their business goals right now. FINANCING FARM EXPANSION WITH DEBT Broadly speaking, ...
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Are You Getting Full Use Out of Your Drone?

By ASFMRA Press posted 06-07-2021
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When drones began emerging into mainstream commercial use, it seemed like the sky was the limit for how this technology would impact farm management and farmland appraisal. But now that outlooks have become a bit more grounded, how are these professions actually making use of drones today? For appraisers, the obvious advantage of using a drone is gaining an aerial perspective that allows you to view a property from different angles and inspect areas that would normally be difficult to access. "The primary purpose was getting a better view of the things we’re trying to evaluate,” said Dave Cullins, Senior Vice President of Administration for AgTexas Farm ...
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Where's the Water?

By ASFMRA Press posted 05-25-2021
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by Claudia Gaglione, Esq. In the past few years, we have seen numerous claims alleging that the rural property appraiser failed to adequately identify or report details surrounding a water source. In one claim, the report said the property was serviced by “public water”. While public water lines ran adjacent to the property, they were not connected. The property actually was getting water from a small private well. A similar situation arose when an appraisal reported the water source to be a “water co-op”. It was later discovered that the property was not connected to the co-op lines and was also serviced by a private well. In another claim, the report stated ...
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Your Land Plotting App: Showing the Past, Present and Future

By ASFMRA Press posted 05-20-2021
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In real estate, it’s all about the land. Its history, its current state of existence and its potential moving forward. The trick for real estate professionals is properly conveying all of this to prospective buyers in a manner that is both persuasive and easy to understand. In recent years, they’ve begun to look at how a GIS land plotting app can be used to enhance both the educational and marketing aspects of buying and selling properties. With the right software, you’re able to visualize a parcel of land in all states of its evolution: past, present and future. Here’s how: The Past: Deed Plotting A deed is a legal document transferring ownership rights ...
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Carbon Farming: The Promise and Pitfalls of an Emerging Industry

By ASFMRA Press posted 04-12-2021
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There’s a growing buzz in farming and the media around regenerative agriculture. While interest in carbon farming is expanding, the rate of adoption remains low due to unfamiliarity and the cost and risk involved in transitioning growing operations. That may change, however, with government and businesses alike committing to creating incentives for farmers to adopt practices designed to improve soil health and potentially increase the amount of carbon in the ground. The arrival of agriculture-oriented carbon marketplaces, where buyers pay farmers for the carbon they capture, could also lead to a faster uptake in regenerative agriculture practices. According ...
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