Just wondering if anyone out there has heard of being Farm Mac approved for doing surveys on farms and such. I was talking to a title company yesterday and they asked if I had this approval. If you have heard of it, how do you go about getting your company approved?
I compare the situation to a doctor being approved by your insurance company or the insurance will not pay for their service.
Farm MAC, Federal Agricultural Mortgage Corporation
Farm loans are repackaged like commercial loans, so consider it an ALTA from a different perspective. From what I see of their survey requirements some engineering analysis is required. On my first search I did not find any specific requirements to be the surveyor, but it may be less formal than CFEDS.
Things that are valuable to the financial analysis of a farm, include, soils, slopes, climate, water, water rights, minerals good for farming or not good for farming. Land owned versus land leased, especially government land.
For instance in New Mexico:
25,000 farms
43,000,000 farm acres
2,000,000 crop acres
Top 5 commodities: Cattle and calves, dairy, hay, pecans, pepper (chile).
Paul in PA