Every piece of commercial real estate is unique and vary in cost & turn time. Since the price of a commercial appraisal can vary by hundreds and even thousands of dollars depending on the appraiser, we put your assignment out for bid with several of our certified commercial appraisers. This ensures you get the best fee and turn time. Please Call 866-533-7173 or fill out the Free Quote Request. We also offer volume discounts when ordering two or more appraisals at the same time.
Each type has a different level of detail and a different price. Depending on what you will use the commercial appraisal report for, will determine what type of appraisal report you should order.
1. Restricted-Use Appraisal – This report is the least expensive type of commercial appraisal. Click here to see a sample. This type of report contains minimal detail and is created and intended only for specified clients and may not be depended or relied upon by any other party. This report format can be personalized at the client’s request to meet their needs. If you simply need to know what the property is worth and there is no need to share the report with anyone else, consider this report format.
2. Summary Appraisal – These reports are the second to most expensive because they have more detail than Restricted Appraisal Reports but less detail than a Self Contained Report. Click here to see a sample of a complete summary appraisal report. This type of commercial appraisal gets you to the same end value but does not include all the supporting data and analysis in the report that the appraiser used to get to the end value like in a Self Contained Report.
Today, the Summary Appraisal report format is by far the most widely used of all the available commercial appraisal report formats. As the report name implies, the summary report ‘summarizes’ all conclusions with a limited amount of explanations. Additionally, the report may contain external material references found in company files, which are normally included in self-contained reports. From a legal standpoint, it can be depended upon by most readers, and for estate related purposes, the summary report format blends itself as the most applicable in this area.
3. Self-Contained Appraisal – These reports a complete appraisal report containing a high degree of detail and all the necessary information to comply with the reporting requirements set forth under Standards Rule 2.2(a) of the Uniform Standards of Professional Appraisal Practice (USPAP), in contrast to the Summary Report format. This type of report contains all the supporting data and analysis the appraiser used to determine the value of the commercial real estate. These types of appraisals are usually done on high value commercial real estate properties. If you are using the commercial real estate appraisal to obtain financing for the purchase or refinance of a commercial property than this is most likely the report for you.
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Please call regarding an appraisal in Brighton, CO, 80601
Hi Vicki Gonzales, Mike has emailed and left a voice message regarding the fee and turn time for your appraisal. Thank you!
What is the base for a commercial appraisal? For example, in a residential appraisal, you can use the comparables, same size, same model, etc. Or you can do the replacement cost? For a commercial, do you use the same approach?
Celia Bravo. Realtor
Commercial appraisals, when determining fair market value, are mostly determined by the income approach. The appraiser determines how much net income the subject property is producing and then multiplies that by the capitalization rate which is determined by what similar properties have sold for based on the net income they were producing when they sold. This is a quick simple explanation.
Which party typically pays for a commercial appraisal, the borrower or seller?
Typically the Borrower pays for a commercial appraisal.