Buying, selling, or leasing commercial real estate property can be complicated and overwhelming. Often buyers might not have the latest info or even understand fully what commercial real estate entails. That’s why we’re here to do appraisals for you.
Whichever role you fill in the buying or selling process, we’re here to be your resource to help guide you through the transition as smoothly as possible. If you’re thinking of hiring an appraiser but you’re not quite sure of when would be the appropriate time to hire one, you’ve come to the right place. Here’s our list of three scenarios when you’ll want to hire an appraiser.
When to Hire a Commercial Real Estate Appraiser
1. To know if your property taxes are too high. In today’s fast paced world, it’s tough to stay at the cutting edge in your own profession, let alone become an expert on proper valuation methodology. The catchword for the day – “outsourcing.” We are experts in the commercial appraisal world. It’s what we do day in and day out. Commercial real estate valuation is all about the numbers. You’d be surprised to know how many cases we’ve encountered when the annual tax savings for the client would far exceed the cost to perform an appraisal. People often assume that they are paying the right amount, but that’s not always the case. If you are being over-taxed, you can actually take your appraisal along with your property tax study to have it appealed. To find out more about how to appeal your property tax valuation, click here.
2. To know the value when selling or leasing your commercial real estate. Property value is always changing, so it’s important to get an appraisal to confirm that you aren’t over or under pricing your property. If the property is going to be leased, we can do a rent study to see how much the property is worth from a rental stand point, and we can also predict the rent escalation for the next few years. We’ll let you know what might happen with the market over time.
3. To know how much to offer when buying or renting commercial real estate. It’s always good to double check on the value when thinking about making an offer. For this, we can do either a market study, or a full appraisal. Oftentimes a lender has an appraiser in mind that they like to use, but to make sure you’re getting the right price, you’ll want to hire someone you trust.
Don’t go in alone. We’re here to be your resource through this complicated process. Get an appraisal for evidence and confidence in whatever you are doing.