Registered: 1204343020 Posts: 127
Reply with quote #1
I HAVE A REFI ASSIGNMENT ON ANVIL BLOCK RD. IN NORTHEAST CLAYTON COUNTY. IT'S A MODEST 3/2 TWO STORY BUILT IN "87 ON AN 11 ACRE SITE. I DON'T CARE FOR THE DEFINTION OR DESCRIPTION OF "EXCESS LAND" IN THE GREEN TEXT BOOK PUBLISHED BY THE INSTITUTE (MAI / RM ).
CAN SOMEONE GIVE ME A GOOD DEFINITION OR EXPLANATION OF "EXCESS LAND" FOR MY REPORT ? I'M NOT PLANNING ON GIVING THE SITE AN EXCESSIVE AMOUNT OF VALUE IN REPORT AND I NEED SOME "BACK UP".
Registered: 1203300379 Posts: 2,172
Reply with quote #2
Excess land is land that is over the amount required to support the existing improvement that could be used for another purpose if separated from the primary site.
Excess land must be addressed in your H&BU analysis.
Registered: 1209831765 Posts: 1,187
Reply with quote #3
You may not care for it but I wouldn't think your going to find a better definition than one from the leading organization in the country providing appraisal education.
Mr. Bryant seems to explain it pretty well in his glossary section on this website, both excess and surplus land.
Registered: 1204343403 Posts: 1,316
Reply with quote #4
You need to decide if it is excess or surplus but I would also stick with "textbook" definitions. Go with John's glossary. You will be challenged and the closer you stick with these definitions, then they will less likely to think your shooting from the hip.
Registered: 1206638705 Posts: 19
Reply with quote #5
excess land In regard to an improved site, the land not needed to serve or support the existing improvement. In regard to a vacant site or a site considered as though vacant, the land not needed to accommodate the site's primary highest and best use. Such land may be separated from the larger site and have its own highest and best use, or it may allow for future expansion of the existing or anticipated improvement. See also surplus land.