We are taking a large farm as collateral and considering just the land value in underwriting, even though there are several outbuildings (barns, storage sheds, etc). Apparently, our credit admin doesn't care if the outbuildings are covered under a hazard insurance policy and we didn't get an ACV on the appraisal. Other than having the insurer or appraiser go out and give us an ACV for each outbuilding, is there any way to come up with an ACV? The appraisal and hazard insurance are our two go to documents for these outbuildings, but we have neither in this case...

Not sure what other option you have at this point.

FAQ - Amount 2: In calculating the amount of insurance to require, the lender and borrower (either by themselves or in consultation with the flood insurance provider or other appropriate professional) may choose from a variety of approaches or methods to establish the insurable value.

That's what I figured. I told them we couldn't close until the insurer went out and gave a written ACV for each outbuilding, but I wanted to make sure I wasn't missing an easier method. Thanks, Randy!