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A Commercial Property Appraisal Helps Determine The Value Of A Building

By Lela Perkins

A commercial property appraisal should be done to determine the value of real estate when one is seeking to sell land or to use it as collateral for a loan. There are steps that an appraiser should take to make sure the assessment is done well and without bias. The report that is generated spells out a lot of the steps that have been taken and will give one a reasonable view of how much a piece of real estate will sell for if it was put on the open market. The report should include the following information.

The first thing a lender will want to know before they lend businesses money on their property is the qualifications of the person generating the report. The will want to know what sort of training and certifications the report maker has obtained in this field. A lender will usually want to be assured that the appraiser does not have any personal interest in the lending transaction. This information is generally presented at the beginning of the report.

Another section in the report will explain the aspects of the building and land. Important aspects that people will care about is how big the building is and what it offers. A buyer may want to know about truck docks and warehouse space. Is the building in good shape or will it need a lot of work will often be answered in the summary about the structure.

Looking at the building and making an assessment without other types of information can be subjective. The appraiser will usually look at properties that are close by and have a similar style and condition to the building that is being appraised. They will closely look at what those properties might have sold for recently to get a good idea of how much the building they are analyzing is worth.

A good report will have a listing of the properties that was used in the comparison. This listing should explain the reasons why those properties were chosen in the analysis. The information can be extremely useful in setting a monetary figure on the land and building.

The comparable lands can be a basis to dispute findings. Sometimes a business owner will disagree on the value of his real estate. When the business owner learns who other properties were used, they might be able to ask for reconsideration if they can present other examples of properties that sold for more than the assessment.

Other important information can include whether or not the land is in a flood plain. This can affect the desirability of the lands and buildings and drive down values. Being in a flood plain adversely affects insurance costs and can make the mortgage more costly.

Knowing the value of the real estate one owns can help to set a listing price if they want to sell it. Another reason is to help a business leverage their land when they are trying to secure funding and using the land as the basis for a loan. A commercial property appraisal will let everyone know what the perceived value of the land is in the current real estate market.

When you are in need of accurate commercial property appraisal, visit the web pages online at www.bryantassetadvisors.com today. You can see details of qualifications and services at http://www.bryantassetadvisors.com now.

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Article Citation
MLA Style Citation:
Perkins, Lela "A Commercial Property Appraisal Helps Determine The Value Of A Building." A Commercial Property Appraisal Helps Determine The Value Of A Building. 17 Apr. 2014. uberarticles.com. 18 Jul 2014 <http://uberarticles.com/real-estate/a-commercial-property-appraisal-helps-determine-the-value-of-a-building/>.

APA Style Citation:
Perkins, L (2014, April 17). A Commercial Property Appraisal Helps Determine The Value Of A Building. Retrieved July 18, 2014, from http://uberarticles.com/real-estate/a-commercial-property-appraisal-helps-determine-the-value-of-a-building/

Chicago Style Citation:
Perkins, Lela "A Commercial Property Appraisal Helps Determine The Value Of A Building" uberarticles.com. http://uberarticles.com/real-estate/a-commercial-property-appraisal-helps-determine-the-value-of-a-building/


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