What Is the Process for Commercial Appraisal?

Estimating the value of commercial real estate is a complex process that involves not only the detailed inspection of the property, but many other processes as well. Companies like ReportBuilder Pro in Colorado offer software that can help with the appraisal process.  Here is a short outline:

• The inspection – taking a detailed look at the property might take up to a couple of hours in the case of large and complex estate and many clients believe that the inspection represents the bulk of the entire appraisal process, but the fact is that the inspection is an essential, but very small part of the process;
• Research – the value of the property is determined by much more than its physical features. After performing the inspection, commercial appraisers start researching lots of other aspects, such as zoning records, the value of similar properties in the area, information related to demographics in the area;
• The form of the final report – the form of the report is determined by the scope that the report will be used for. Restricted use reports are the shortest of all types and they can only be used by the client, summary reports are also short, but they include the findings in more areas, while self-contained reports are the longest and the most detailed types of reports, documents that include all the details and figures that influenced the appraiser’s final estimation of the property’s value.

First Seen here: What Is the Process for Commercial Appraisal?