APPRAISAL OF CHATTEL PROPERTY - fsa usda 2025

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Appraisers follow these guidelines during a USDA appraisal: The home must be in a qualifying rural area. The house has to be structurally sound, with a foundation and roof in good enough repair that you can live in the house right away. There has to be access to the home from a paved or all-weather road surface.
Chattel is any tangible personal property that is movable. Examples of chattel are furniture, livestock, bedding, picture frames, and jewelry.
Chattel is referring to personal property that is not included in the land or buildings associated. A chattel appraisal is an estimate of the current value(s) of the chattel asset(s). For agricultural uses, that usually includes machinery, equipment, livestock, and crops.
A chattel loan covers property, such as machinery, vehicles, and manufactured homes that can be moved. A chattel loan would cover only the manufactured home and not any land under the house.
There are three internationally accepted methods of measuring the value of property: the cost approach, the sales comparison approach and the income approach. Depending on the nature of the property being valued, one or more of the approaches may be used by the assessor.
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