Frequently asked questions and answers

As defined in USPAP, an appraisal is the act or process of developing an opinion of value. An appraisal includes research of the property being appraised (“the subject”), the description, age, opinion of the subject’s condition, accessibility and utility. The appraisal also includes the process by which the appraiser reaches his/her specific conclusions pertaining to the subject and its market value which includes an approach to value. There are three approaches to value, Sale Comparison, Cost and Income Capitalization. Depending on your property and your requirements or specific needs, one, two, or all three approaches may be applicable to the appraisal of a property.

As mentioned above, depending on your property type and your specific needs, you may need an appraisal for various reasons. One of which may be to determine current market value, or market value as of a specific date (such as death). An appraisal may also be helpful in real estate tax appeals, estate planning, dispositions, internal decision making, eminent domain cases, foreclosures, feasibility analysis, and highest and best use analysis. We also specialize in the review of other commercial appraisal report and construction loan payout inspections.

Only a licensed General Certified appraiser can appraise commercial property. This designation requires higher education, General Certified license, and continuing education.

Member of the Appraisal Institute (MAI) is a professional designation for appraisers who are experienced in the valuation and evaluation of commercial, industrial, residential and other types of properties, and who advise clients on real estate investment decisions. Learn more

Senior Residential Appraiser (SRA) is a designation conferred by the Appraisal Institute. The SRA designation is held by appraisers who are experienced in the analysis and valuation of residential real property.

Learn more about The Appraisal Institute’s MAI and SRA designations.

Each commercial property and specifications are different; therefore, we ask that you contact our office for an appraisal fee quote.