Real estate properties represent the most important elements of an economic activity that contribute to value creation once they are included in the economic circuit. Regardless of the owner of the property (state bodies, individuals or legal entities engaged in an economic activity whose purpose is to create profitable value through profits), the base of the economic activity always remains the real estate property.
All types of real estate properties must be managed and professionally organized by specialists, to increase their value. Appropriate estimation of the value of such a property and the competent analysis of all aspects related to it are used as a support for various decisions about that property.
The process of commercial appraisal by companies like ReportBuilder Pro is the activity that has the purpose of estimating the value of a commercial property and consists of a set of coherent methods, processes and activities included in an evaluation report that supports the estimated value, presenting the specific description of the evaluated property, the evaluation date, the limitations and the conclusions.
The process of commercial appraisal is necessary wherever a property is traded through sale-purchase, rentals, and generally wherever a decision has to be made or action is to be taken about it. Particular situations in which property evaluation is required include:
- transfer of ownership
- creating a schedule for using the property
- property financing
- compensation for damages.
First Posted right here: The Process of Commercial Appraisal
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