Collateral Valuation Services

Collateral Valuation Services offered by Bank of North Dakota include:

  • Ag Real Estate Evaluations
  • Chattel Evaluations
  • Appraisal Reviews for Ag and Commercial Real Estate

Who can engage BND’s Collateral Valuation Services?

  • Any North Dakota financial institution
  • An attorney working on behalf of a North Dakota financial institution

Ag Real Estate Evaluation

Types Offered:

  • Ag land with improvements
  • Ag land without improvements

Report Includes:

  • Detailed narrative on the real estate being valued
  • Market information
  • Description of the data analyzed
  • Valuation techniques employed
  • Reasoning to support the value conclusion

Potential Uses:

  • Transactions that do not require appraisal
  • Determining the validity of existing value
  • Problem loan administration
  • Liquidation and workout scenarios

2023 Service Fees:

  • Cropland less than 320 acres: $450
  • Cropland more than 320 acres: $750
  • Pasture less than 320 acres: $450
  • Pasture more than 320 acres: $750
  • Mixed Crop/Pasture less than 320 acres: $600
  • Mixed Crop/Pasture more than 320 acres: $900
  • Improvements +$500 to the base price

The real estate must be located in the state of North Dakota. The only exception for location will be for collateral located in East Grand Forks, Moorhead, and Breckenridge.

Chattel Evaluation

Types Offered:

  • Farm Machinery
  • Livestock
  • Commercial & Industrial Equipment
  • Trucks & Trailers
  • Aircraft

Report Includes:

  • Specifics on the property
  • Comparable property sales
  • Description of the data analyzed
  • Valuation techniques employed
  • Reasoning to support the value conclusion

Potential Uses:

  • Providing a value for loan origination and/or renewal
  • Determining the validity of existing value
  • Problem loan administration
  • Liquidation and workout scenarios

2023 Service Fees:

  • 1-3 items: $300
  • 4-10 items: $400
  • 11-20 items: $800
  • 21-30 items: $1,200
  • >30 items: $1,800

The property can be located in any state, it does not have to be located in North Dakota.

Appraisal Review

Types Offered:

  • Commercial Real Estate appraisal reviews
  • Ag Real Estate appraisal reviews

Report Includes:

  • Verification that the valuation methods and assumptions are clearly detailed and well-supported
  • Confirmation that appropriate data was gathered and analyzed logically
  • Assertion that the value conclusions are consistent with the information in the appraisal

Potential Uses:

  • Ensure compliance with technical rules
    and regulations
  • Determine reasonableness of an appraisal
  • Measure credibility of an appraisal
  • Reinforce confidence in an appraisal

2023 Service Fees:

  • Commercial Review: $250
  • Agricultural Review: $150
  • Appraisal Validation: $500**

** Validations include determining physical or market changes in third party appraisals older than one year.

Request Collateral Valuation Service

If you have any questions or want to request additional information, contact us at 701.328.5852 or bndvaluation@nd.gov.

Request Services