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.
Some business owners assume that once the appraiser has inspected the real estate the bulk of the work is done. There is much more that goes into it than that, and the results may take days or weeks to get. The appraiser will have to find comparable sales to establish value. He or she will collect zoning information as well as rent rolls and historical tenant and vacancy data.
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.
There are three basic types of appraisal reports. The most common is the restricted use report. This is the least detailed and least expensive. Only the client is allowed the information contained in it. A summary report has more details and can be accessed by any intended user. A self contained report contains all the details and data and is the one least requested.
When reading an appraisal it is very important to check the date of valuation. Depending on the client's needs, an appraiser can create a report that values a piece of property as of the time of inspection, value based on a date in the future or the past. An assessment that was made prior to a positive or negative event that impacts the real estate is not accurate and should not be used for valuation purposes.
It is important for an appraiser to know what a client's interest in a property is before he or she makes an assessment. If the interest is simply in the real estate, then the client will receive a fee simple appraisal. A client who in interested in the worth if property is leased will need a leased fee interest appraisal. A leasehold interest appraisal is done to find out what a lease is worth to a renter.
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.
Some business owners assume that once the appraiser has inspected the real estate the bulk of the work is done. There is much more that goes into it than that, and the results may take days or weeks to get. The appraiser will have to find comparable sales to establish value. He or she will collect zoning information as well as rent rolls and historical tenant and vacancy data.
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.
There are three basic types of appraisal reports. The most common is the restricted use report. This is the least detailed and least expensive. Only the client is allowed the information contained in it. A summary report has more details and can be accessed by any intended user. A self contained report contains all the details and data and is the one least requested.
When reading an appraisal it is very important to check the date of valuation. Depending on the client's needs, an appraiser can create a report that values a piece of property as of the time of inspection, value based on a date in the future or the past. An assessment that was made prior to a positive or negative event that impacts the real estate is not accurate and should not be used for valuation purposes.
It is important for an appraiser to know what a client's interest in a property is before he or she makes an assessment. If the interest is simply in the real estate, then the client will receive a fee simple appraisal. A client who in interested in the worth if property is leased will need a leased fee interest appraisal. A leasehold interest appraisal is done to find out what a lease is worth to a renter.
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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