A commercial appraisal report is a document that summarizes the features of the commercial property that has been evaluated and provides calculations to determine the value of the estate.
The properties that are described and evaluated in such reports range from apartment buildings, office buildings, commercial centers, land used for agricultural purposes, industrial sites and the information included in the reports are specific to the purpose that the report will be used for. This means that a report that serves the purposes of selling the property will be structured in slightly different way than a document needed for taking out a mortgage loan on the property, even though the calculations used will be essentially the same. The scope of usage for a commercial appraisal report range from tax assessment purposes, business dissolutions and mergers, damage assessment, buying and selling, to calculations related to the feasibility of a renovation or a construction project, damage assessment and many others. The data used for the calculations and the information used for the evaluation come from public records, market comparisons and property-related evidence backed up with photographs, all of which will be included in the report that ends with a final summary of the most important findings.
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First Posted over here: What to Include in A Commercial Appraisal Report?
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