Most improved real properties and many vacant tracts can only be sold subject to existing easements. Appraisers identify existing easements and consider their effect on value whenever a market value definition is part of an assignment. Easements and rights-of-way often influence how real property can be used and may even affect a property’s ownership cost.
It’s standard procedure for most commercial lenders to request all three approaches to value—sales comparison approach, income approach, and cost approach—be undertaken during an appraisal. Usually, there is a stipulation that an approach may be excluded from the valuation if such an approach is deemed dispensable. This omission can be a point of conflict between
The Market Analysis section in an appraisal report contains precious information that directly influences the value of a property and also provides priceless insight into a myriad of data relating to the financial feasibility of a property. It is common for many prospective users of an appraisal report to ignore various sections of the report
Choosing an appraisal firm to handle your sensitive commercial and residential valuation needs in Massachusetts is an important decision. When considering lending money, or working with a third-party that will rely on your appraisal, it’s critical to ensure that the valuation is accurate, credible, and reliable. A faulty or biased report has the potential to
Many Massachusetts valuation clients choose to work with appraisal management companies (AMCs) due to the fear of compliance issues with Dodd-Frank and the Consumer Protection Act. It’s a common misconception that to avoid bias issues, and maintain transparency, that you have to use an AMC. For a brief period after the financial crisis of the
How do you know if you’re making the most money possible from a property? Are you getting the greatest economic and functional value from your investment? How will the long-term value of the property be affected by zoning changes, new developments, and the usages of surrounding properties? Highest and best use analysis considers these issues
An appraisal is more than just an estimate of value for the subject property. It provides unique insight into a local real estate market and how a broad range of social, economic, and structural properties influence value. A property valuation is also a critical tool in lending and investment spheres that is relied upon to
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