00200873

Monograph

AN INCREASING NUMBER OF APPRAISERS ARE RECEIVING ASSIGNMENTS FOR THE APPRAISAL OF BORROW PITS. THIS ARTICLE IS CONCERNED WITH HOW BORROW PITS ON THE INTERSTATE HIGHWAY SYSTEM ARE ACQUIRED BY A STATE AGENCY AND HOW THEY ARE APPRAISED. WHILE THE INDEPENDENT PROFESSIONAL APPRAISER IS NOT DIRECTLY INVOLVED IN THE "ACQUISITION" PHASE OTHER THAN TO RENDER AN OPINION OF VALUE, HE WILL BETTER UNDERSTAND AND APPRECIATE HIS ASSIGNMENT IF HE HAS A BACKGROUND KNOWLEDGE OF THE ACQUISITION POLICIES AND PRACTICES, PARTICULARLY WHEN THE STATE AGENCY BECOMES A CONDEMNING AUTHORITY AND GOES TO COURT. FURTHERMORE, MANY APPRAISERS INVOLVED IN THE ACQUISITION PROCESS ARE STAFF APPRAISERS OF THE STATE AGENCY AND SHOULD BE FAMILIAR WITH THE ENTIRE ACQUISITION PROCESS AND THE ROLE THAT THE APPRAISER AND THE APPRAISAL PLAYS IN IT. THE ARTICLE IS BASED ON STATE ROAD DEPARTMENT POLICY AND PRACTICE IN FLORIDA. WHILE DETAILS MAY VARY IN OTHER STATES, IT IS FELT THAT MANY OF THE BASIC CONCEPTS WILL BE ILLUSTRATIVE OF ACQUISITION AND APPRAISAL PRACTICES IN CONNECTION WITH ALL INTERSTATE HIGHWAY SYSTEM BORROW PITS. /AUTHOR/

Vol 35, No 6, PP 29-38

1969-9

Appraisals; Guidelines; Pits; Property acquisition

Economics; Finance; Highways; Society

TRIS

Mar 9 1970 12:00AM