1. Clarify the assignment
- The property and ownership interest to be appraised
- The intended use and intended users
- The effective date, if it is not current
- The requested delivery date
- Any lender, estate, tax, litigation, or reporting requirements that may affect scope
2. Arrange complete property access
Provide a contact who can coordinate access to the site and relevant improvements. Explain locked areas, occupied spaces, operating restrictions, safety requirements, or tenants who need advance notice.
3. Gather useful property documents
- Current rent roll and leases
- Historical operating statements and current budget
- Survey, site plan, floor plans, or building measurements
- Legal description and parcel information
- Property-tax and capital-improvement records
- Available environmental, engineering, condition, or zoning information
- Purchase agreement, listing, or recent offers involving the property
4. Explain what has changed
Tell the appraiser about renovations, deferred maintenance, vacancies, new leases, tenant departures, planned construction, easements, access changes, casualty damage, or unusual operating conditions.
5. Identify the right follow-up sources
The person opening the property may not know the leases, expenses, construction history, or ownership structure. Provide the appropriate contact for each topic when possible.
Preparation supports independence
Preparation does not mean advocating for a predetermined value. It means providing reliable access, a clear assignment, and the information needed to develop an independent, supportable opinion.