How to get commercial real estate appraisals fast

A valuation of commercial properties is an essential part of property accounts management, particularly for asset valuations and for sales purposes. This is a critical exercise for property owners and investors alike. The best approach is to engage a leading company with a good track record in the local market, offering full service certified general appraisals.

If you need a property appraisal for trust/estate/gift/sales/purchase, assessment appeals or litigation support purposes, a good example of a real estate full service appraisal firm is Irish Appraisal Service. This company provides appraisal services for commercial properties as diverse as restaurants, apartments, golf courses, commercial business premises and much more. 

Commercial appraisal is based on three fundamentally different approaches. A good commercial real estate appraiser will use one or several of these methods of appraisal:

1.       The market approach: This approach will be familiar to most people. It’s based upon comparison. You compare the price of a commercial property to other similar properties of similar type. This is a generally accepted form of property evaluation, providing a good basis for asset valuation. 

2.       The income approach: This less familiar method of commercial real estate appraisal relates to evaluation of the income stream that is generated by the property. This is important because investors in income-generating properties are concerned primarily with the revenue return from the investments. After estimating the potential rents, vacancies and expenses, the value is determined thereafter by the experts. (This type of assessment is also used by prospective purchasers to compare income-generating properties.)

3.       The cost approach: This is where the current cost of maintaining or even replacing a property is used as a method to assess values. A property which costs too much to maintain, obviously, would be an inferior quality investment. A property with too high a replacement cost would also be considered a bad investment. 

Irish Appraisal Service is located in Los Angeles, serving California, Oregon, Washington and Nevada. You can find more information about commercial property value appraisal services on their website, http://www.irishappraisal.com/ or by contacting their customer representatives. They have the necessary experience to properly value your commercial land, building, or other structure and make sure that the price is fair. Whether you are looking to buy, sell, rent, or make an investment, there is no better option than Irish Appraisal Service. Contact them today for more information.