Appraisal

Before initiating negotiations, the LPA must appraise the property in order to establish an amount the LPA believes is just compensation for the interest to be acquired.
The LPA must approve the just compensation value as this task is not delegable to a consultant.
 In limited circumstances, an appraisal is not required.
Federal law requires two levels of appraisal: value appraisal and review appraisal. The value appraiser cannot also conduct the review appraisal. For both levels of appraisal, the LPA must use appraisers approved by TxDOT.
See the
ROW Appraisal and Review Manual
,
Chapter 8, Section 2, LPA Appraisal Guidelines
for in-depth treatment on appraisal standards and review requirements, and
Chapter 3, Section 5, Procedures on Appraisals of Specific Types & Situations
for guidance on specific appraisal situations such as advertising sign interests and fences.