La. Admin. Code tit. 70 § XVII-549

Current through Register Vol. 50, No. 11, November 20, 2024

Section XVII-549 - Form C (Formerly Section 501)

A. The form is designed to be used only on simple acquisitions. The form does not require detailed discussions of the items listed, but the determinations made by the appraiser must be conclusive and based upon market support.

B. If during the appraisal assignment the appraiser finds that there are damages or benefits to the ownership by reason of the project, the appraiser is not to proceed with Form C but is to notify the project review appraiser. The review appraiser will then decide which form to utilize and will amend the appraisal contract to reflect those changes by format and fee schedule. Furthermore, when utilizing this form, it will be necessary for the appraiser to include the following statement within the body of the certificate:

"No damages or loss to the remainder of the owner's property resulted from this partial acquisition, therefore, pursuant to LA. R.S. 48:453 B, no after appraisal is required."

C. The following pages are to be included within the report and may include others upon the discretion of the appraiser:

1. Title Page;

2. Table of Contents;

3. Letter of Transmittal;

4. Summary of Salient Facts and Conclusions;

5. Basis for Summary of Fair Market Value;

6. Title Data;

7. Photos of the Subject Property;

8. Neighborhood Data;

9. Site Data;

10. Statement of Highest and Best Use;

11. Comparable Land Sales and Analysis;

12. Correlation of Land Value;

13. Required Right of Way;

14. Certificate of the Appraiser;

15. Addenda:

a. Assumptions and Limiting Conditions;

b. Vicinity, Strip and Remainder Maps;

c. Property Inspection Report;

d. Owner Notification Letter;

e. FIRM Maps;

f. Comparable Sales and Maps;

g. Zoning Maps (if applicable);

h. Estimate of Compensation;

i. Others at the discretion of the Appraiser and/or Review Appraiser.

D. All of the above-described forms are guides for submittal of acceptable reports. The appraiser may develop his/her own form, within reason. However, the form developed must include the information and detail required above and should be of the same basic format.

La. Admin. Code tit. 70, § XVII-549

Promulgated by the Department of Transportation and Development, Office of Real Estate, LR 25:889 (May 1999), amended LR 29:2858 (December 2003), LR 33:1378 (July 2007).

AUTHORITY NOTE: Promulgated in accordance with R.S. 48:443.