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How do Appraisals Work?

April 26, 2017appraisals

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How do Appraisals Work?

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How do I know the land exchange is fair? Federal law requires federal agencies to trade equal value for equal value. Values are determined by qualified, experienced, independent or agency appraisers. The agency participates in the selection of the appraiser. Appraisers follow detailed instructions dictated by the agencies involved. Additional scrutiny also comes from agency review appraisers. The governing laws include the Federal Land Exchange Facilitation Act (FLEFA) and the Federal Land Policy and Management Act (FLPMA).