article thumbnail

Top 6 Commercial Appraisal FAQ’s

Simonson Real Estate

The appraiser’s role is to provide arm’s length, third-party, neutral, and impartial opinions about the value of a real property and provide assistance to those who own, manage, sell, invest in, or lend money on real estate. As appraisers’ we assemble facts, statistics, and other information on a specific property.

article thumbnail

6 Special Purpose Property Tips for Commercial Appraisal Reviewers

McKissock

Again, an appraiser looking to specialize in these property types, should become very familiar with the ongoing litigation related to properties with intangibles. Special purpose property tips. Before you accept a review appraisal assignment for a special purpose property, here are some tips to guide your decision: 1.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Three Types of Commercial Real Estate Obsolescence

Property Metrics

The real estate term for this type of risk is “obsolescence” and there are three types that CRE investors should be aware of. Functional Obsolescence is the impairment of a real property’s functional capacity due to changes in market tastes and/or standards. Functional Obsolescence.

article thumbnail

NAR Member Survey on Appraisal Data Collectors

Appraisal Today

When I started in this business long ago, there was no such thing as a licensed appraiser or a certified real property appraiser. The property also features two private guesthouses and a four-car garage. Most of the inspection training we receive as appraisers happens in the field. Desert Stream Runs Through This $3.3M

article thumbnail

Appraising Industrial and Flex Buildings: What Info Do You Need?

McKissock

To estimate the real property value for the purpose of one or more partners acquiring the interest of other partners in a proposed or existing building’s ownership. For real estate tax assessment purposes. To establish value of the real property in a bankruptcy filing. For a proposed building: A site plan.

article thumbnail

Why Do Square Footage Disputes Arise?

Empire Appraisal Group

The agencies’ standards recognize situations when finished attics, garage conversions, and additions may be included in the gross living area, specifically when such improvements are accessible from the interior of the primary dwelling and have a permanent, sufficient heat source, as well as similar design and quality of construction.

Sellers 78
article thumbnail

Appraisers Share Their Top Professional Goals for 2023

McKissock

Earn a designation or certification (16%). Many survey respondents said their top professional goal for 2023 is to earn a designation or certification: “Being new to the appraisal industry, I want to learn more and keep working on obtaining my certification and credentials.” For those reasons, it is a challenge for me.”