James A. Garrett is a Yellow Book approved appraiser. For federal land acquisitions requiring Yellow Book Appraisals have another definition of Market Value. It is the amount in cash, or on terms reasonably equivalent to cash, for which in all probability the property would have sold on the effective date of the appraisal, after a reasonable exposure time on the open competitive market, from a willing and reasonably knowledgeable seller to a willing and reasonably knowledgeable buyer, with neither acting under any compulsion to buy or sell, giving due consideration to all available economic uses of the property at the time of the appraisal.

These Yellow Book appraisal standards have been prepared for use by appraisers to promote uniformity in the appraisal of real property among the various agencies acquiring property on behalf of the United States. It should make no difference to the landowner, whose property is being acquired, which agency is acquiring the land, or what method of acquisition it uses.

Yellow Book appraisals are required by local agencies when using funds provided through the Ohio Department of Natural Resources. Yellow Book appraisals are required on all federal acquisitions.

Yellow Book appraisals are required for most conservation easement appraisals through the FRPP program. The Farm and Ranch Lands Protection Program (FRPP), formerly known as the Farmland Protection Program (FPP), is reauthorized in the Farm Security and Rural Investment Act of 2002 (Farm Bill) to protect working agricultural land from conversion to non-agricultural uses. http://www.oh.nrcs.usda.gov/programs/frpp/frpp_home.html

The program provides matching funds to State, Tribal, and local governments and non-governmental organizations with farm and ranch land protection programs to purchase permanent conservation easements. NRCS provides up to 50% of the purchase cost for easements.

Garrett Appraisal Service would be pleased to provide Yellow Book appraisal services to meet your needs.