In 2021, Valligent was presented with two properties in need of an appraisal in rural Toksook Bay, Alaska. Toksook Bay is a city and village on Nelson Island in Bethel Census Area, Alaska. Upon evaluation at the time, Valligent faced issues regarding resources to complete the appraisals, as well as being able to finish them in a timely manner. However, despite the clear complications due to properties being rural, Valligent aimed to complete the appraisals in a cost-efficient and modern way using the Desk Appraisal with Cost Approach. This approach enabled an appraiser to utilize their in-depth market knowledge, public records, and builders plans with specs to complete the property valuation from their own desk without travel, while still providing accurate market value for properties in a rural area. Furthermore, the cost approach considered the cost of land, costs of construction, and less depreciation.
In July 2024, Valligent was tasked once again with an appraisal for the U.S. Department of Agriculture (USDA) for a home purchase in Toksook Bay, in addition to the Desk Appraisal with Cost Approach. Jennifer Williams, Vice President of Operations for Valligent noted that, “We were faced with a near impossible situation in terms of time and location of the appraisal. However, because of our deep knowledge of rural assignments, we have dealt with this before and have creative solutions to help the client close on time. In this situation, we worked with the client to deliver using Valligent’s Desk Appraisal with Cost approach, and we were able to complete the appraisal with time to spare at a fraction of the bids we received.” Upon using this method, Valligent was able to complete their appraisal within the time constraints and allowed the USDA to complete another successful home purchase! Through experiences with appraisals in rural areas like Toksook Bay, Valligent has demonstrated the problem-solving and perseverance of our highly experienced appraisers!
Interested in Appraisals for Rural Homes? Valligent can Help!
If you need a valuation for a rural property, Valligent can help. Valligent has completed real estate valuations for unique properties for over a decade, providing the expertise and knowledge necessary to navigate their complexities and ensure accurate valuations. Complete our web form to request more information.
