CFR > Title 7 - Agriculture > SUBTITLE B—Regulations of the Department of Agriculture > CHAPTER VII—FARM SERVICE AGENCY, DEPARTMENT OF AGRICULTURE (parts 700 to 799) > SUBCHAPTER D—SPECIAL PROGRAMS (parts 750 to 786) > PART 764—DIRECT LOAN MAKING > SUBPART C—Requirements for All Direct Program Loans (§764.101 to §764.109-764.150) > 764.107—General appraisal requirements.

764.107—General appraisal requirements.

(a) Establishing value for real estate. The value of real estate will be established by an appraisal completed in accordance with § 761.7 of this chapter.
(b) Establishing value for chattels. The value of chattels will be established as follows:
(1) Annual production. The security value of annual livestock and crop production is presumed to be 100 percent of the amount loaned for annual operating and family living expenses, as outlined in the approved farm operating plan.
(2) Livestock and equipment. The value of livestock and equipment will be established by an appraisal completed in accordance with § 761.7 of this chapter.