An appraisal can be ordered for any number of reasons. An owner may want to refinance a loan to expand an existing operation. A Phoenix, AZ lender might require an appraisal before approving financing. A potential purchaser might want to see an appraisal in order to decide how much to offer the seller. The kind of commercial appraisals Phoenix appraisers generate depends on what an individual or company wants to know about the property in question.
Unlike residential assessments, the inspection of business real estate is not usually the bulk of the work an appraiser has to do in order to make an accurate analysis of a property. It often takes weeks to get good comparable sales, tenant histories, and rent rolls. The appraiser may have to make several visits to the courthouse to uncover old records not available online.
Some owners are tempted to oversell their property to get a higher valuation, but experts advise them not to do it. Appraisers will verify all information using at least one other source, so this kind of tactic will backfire on the owner. Withholding documents they think may hurt a valuation is also a bad idea.
An appraiser is obligated only to the person who is paying for the appraisal. Giving confidential information to another party is a violation of their code of ethics, and they will not do it unless the client gives permission.
Appraisal reports take three basic forms. The first, and most requested, is the restricted use report. It includes basic information that can be viewed only by the client. Summary reports are more detailed and more expensive. Rarely are self contained reports requested. The appraiser includes all the information drawn about a property in one of these reports and charges more for it than the other two.
The date a piece of real estate was valued can be very important. An appraisal that was done before something negative impacted the property, such as a fire, will not accurately represent the value of the real estate in its current condition. An appraiser can value the property at the time of inspection, from a previous time or a future time.
Clients have different uses for appraisals and as such, an appraiser needs to know what the client's interest is. A fee simple appraisal results when the client is only interested in the physical property. A leased fee appraisal reflects the net worth when the property is leased. Leasehold interest appraisals evaluate what a tenant would be willing to pay to lease the property.
In order to accurately assess a piece of real estate, an appraiser needs to know certain things. He or she must know the client's interest in the property and what type of report is to be generated. What the client is going to use the appraisal for is also important for accurate valuation.
Unlike residential assessments, the inspection of business real estate is not usually the bulk of the work an appraiser has to do in order to make an accurate analysis of a property. It often takes weeks to get good comparable sales, tenant histories, and rent rolls. The appraiser may have to make several visits to the courthouse to uncover old records not available online.
Some owners are tempted to oversell their property to get a higher valuation, but experts advise them not to do it. Appraisers will verify all information using at least one other source, so this kind of tactic will backfire on the owner. Withholding documents they think may hurt a valuation is also a bad idea.
An appraiser is obligated only to the person who is paying for the appraisal. Giving confidential information to another party is a violation of their code of ethics, and they will not do it unless the client gives permission.
Appraisal reports take three basic forms. The first, and most requested, is the restricted use report. It includes basic information that can be viewed only by the client. Summary reports are more detailed and more expensive. Rarely are self contained reports requested. The appraiser includes all the information drawn about a property in one of these reports and charges more for it than the other two.
The date a piece of real estate was valued can be very important. An appraisal that was done before something negative impacted the property, such as a fire, will not accurately represent the value of the real estate in its current condition. An appraiser can value the property at the time of inspection, from a previous time or a future time.
Clients have different uses for appraisals and as such, an appraiser needs to know what the client's interest is. A fee simple appraisal results when the client is only interested in the physical property. A leased fee appraisal reflects the net worth when the property is leased. Leasehold interest appraisals evaluate what a tenant would be willing to pay to lease the property.
In order to accurately assess a piece of real estate, an appraiser needs to know certain things. He or she must know the client's interest in the property and what type of report is to be generated. What the client is going to use the appraisal for is also important for accurate valuation.
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When people are seeking advice from commercial appraisals Phoenix business owners recommend that they use the services of this site. Come and review all the information by clicking here http://accurateappraise.com.
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