Welcome to Martin, Goodrich & Waddell, Inc. MGW are professionals in U.S. Farmland: buying and selling, management, appraisals, mortgage banking and general consulting.

Appraisal Services @ MGW

Among our wide range of agricultural services, we offer a selection of appraisals by our MGW Appraiser, Mark E. Akers, Accredited Rural Appraiser.

When is an appraisal necessary or beneficial? If you are:

buying, selling, trading or dividing property
acquiring financing
estate planning or settlement
determining taxes—inheritance, estate, or gift
comparing with other types of investments.

What is a Licensed Appraiser? The State of Illinois has three types of licenses for appraisers.

Illinois Certified General Appraiser License (553)
Allows appraisals of all residential, commercial, industrial, income producing farm and vacant land properties. The pre-requisite to take the State Certified General Real Estate Appraiser License examination is 3,000 hours of appraisal experience during no fewer than 30 months, of which 1,500 hours shall be in non-residential appraisal work. Education equivalent to a bachelor’s degree is required.
Illinois Certified Residential Appraiser License (556)
Allows appraisals of single-family homes regardless of transaction amount, 2-4 unit residential income The pre-requisite to take the State Certified Residential Real Estate Appraiser License examination is 2,500 hours of appraisal experience during no fewer than 24 months. Education equivalent to an associate’s degree is required.
Illinois Certified General Appraiser License (557)
No appraisal experience is required to take the Associate Real Estate Appraiser License examination. This is a trainee appraiser who cannot sign an appraisal without a supervising Certified Appraiser’s signature as well. Requires 75 hours of schooling.

Seasons

● If a highway or pipeline slashes your land, this approach could help

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MGW Appraisal Web Links

We provide a wide range of appraisal analysis and reports:

All appraisal assignments will be completed by an Accredited Member of the American Society of Farm Managers and Rural Appraisers who is a Certified General Real Estate Appraisers in the appropriate state.

All appraisal assignments will meet the requirements of the Uniform Standards of Professional Appraisal Practice (USPAP). USPAP is a very flexible tool that allows the appraiser to meet the needs of the client without performing unnecessary analysis and reporting. The primary requirement placed on the appraisal is providing a credible report for the client based on their knowledge of the property, market, and needs.

An appraisal prepared for an estate settlement issue before the IRS will require more in depth analysis and reporting than a report prepared for a lender seeking support for a loan on a bare tract of land in their area.

The primary reporting tool used for rural property appraisals is the Uniform Agricultural Appraisal Report (UAAR). This appraisal report form provides the flexibility to report a wide range of analysis types and differing scope of work assignment.

Types of property we can appraise:

Our appraisal staff has experience in appraising a wide range of property, ranging from the simple bare tract of farmland that is unaffected by development to warehouses and manufacturing facilities. We can handle the rural farmettes and part time farms. We can also appraiser your grain elevator or fertilizer plant.

We can handle 2032A special use appraisals.

We can handle Limited Liability Corporation and Limited Partnership valuations as well as partial interests.

We’re ready to provide appraisal services to help you whenever the need arises.

We invite you to contact Mark Akers our MGW Appraiser, by phone: 815-756-3606, or fax: 815-756-5929, or e-mail: info@martingoodrichwaddell.com

Martin, Goodrich & Waddell, Inc.
2020 Aberdeen Ct.
Sycamore, IL 60178
Phone: (815) 756-3606
Fax: (815) 756-5929
Email: Info@martingoodrichwaddell.com

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