A commercial real estate appraisal can be very complex, which is why Commercial Real Estate (CRE) appraisers spend years gaining the skill and expertise necessary to make an accurate and fair valuation. Unlike business appraisers who evaluate the worth of an entire business, CRE appraisers examine the commercial space itself. What do CRE appraisers do?
It might seem like the inspection is what leads to the valuation of the real estate, but there is plenty of research that goes on behind the scenes. Appraisers spend time researching zoning records, ownership records, demographic and lifestyle information for the surrounding area as well as comparable sales, replacement costs—and for commercial properties—income potential. All of this information helps to inform the final valuation and the results of the inspection. The inspection is only the tip of the iceberg when it comes to what property appraisers do.
Providing an Unbiased Assessment
CRE appraisers are experts at seeking the truth above all else. This means that they will work hard to verify the accuracy of any information that comes from third-party sources, people on-site and even past property owners. Because appraisers need to provide assessments that can stand up to scrutiny, they will always remain independent to offer the most unbiased assessment possible. Appraisers also follow the Uniform Standards of Professional Appraisal Practice, which requires them to offer an unbiased opinion (or risk disciplinary action).
Reports for What You Need
CRE appraisers are hired to complete appraisals for a broad range of reasons. What could you need the services of a commercial property appraiser for?
· Helping a seller determine a reasonable selling price for the property
· Helping an underwriter establish the value for a mortgage
· Highest and best use
· Litigation support
· Arbitration and consulting
· Estate planning and administration
· Lease negotiations
· Business dissolutions/divorce
· Appealing a tax assessment
· Ownership transfers & restructuring
· Insurance valuation
Partner with Willowbrook Valuation & Advisory Services for Your Commercial Real Estate Appraisal
At Willowbrook Valuation & Advisory Services, we are a leader in trusted insight, cutting-edge innovation and customer service. We offer exceptional CRE appraisal services and remain dedicated to offering every client the individual valuation service they expect with the capabilities and expertise of a larger firm. To learn more about our valuation and advisory services, please contact us at (202) 919-3888.