A broker price opinion (BPO) or comparative market analysis (CMA) is as good as an appraisal.
Myth: A broker price opinion (BPO) or comparative market analysis (CMA) is as good as an appraisal. Fact: Commercial Real Estate Appraisers must adhere to the Uniform Standards of Professional Appraisal Practice which outlines the requirements that appraisers must follow...
I paid for the appraisal, so I should get a copy.
Myth: I paid for the appraisal, so I should get a copy. Fact: Regardless of who pays for an appraisal, the Client is the person or entity who specifically engages the appraiser, in writing, to conduct the appraisal assignment. Clients...
The assessor will see a copy of my bank appraisal and raise my taxes.
Myth: The assessor will see a copy of my bank appraisal and raise my taxes. Fact: Commercial Real Estate Appraisers adhere to strict rules of confidentiality. The only person(s) with whom an appraiser will share an appraisal report are the...
Property prices always go up.
Myth: Property prices always go up. Fact: While it often seems to be true, this is not the case. Properties can age, become obsolete or experience changes in factors outside of the property itself. This can result in a negative...
An appraiser can value my property accurately without viewing the interior.
Myth: An appraiser can value my property accurately without viewing the interior. Fact: It may be possible for an appraiser to accurately value a property without viewing the interior, however, many assumptions will be required related to the condition of...
The sale price is the value of a property.
Myth: The sale price is the value of a property. Truth: Rarely will two individuals estimate the same value for a property, particularly when one is a seller and one a potential buyer. A sale price is the result...
