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What is an appraisal?
An appraisal is the act or process of developing an opinion of value.

Where does an appraiser get the comparable data and other information needed to complete an appraisal?
The appraiser gets his or her information from a wide variety of sources, including: commercial database vendors (Co Star, Loopnet, ect.), tax assessor records, surveys, county courthouse records, interviews with sellers and buyers.

What is the cost of a commercial appraisal?
The cost of an appraisal will vary for each valuation assignment. The cost of the appraisal is dependent upon the type of property and the scope of work specified by the client.

What information do I need to provide to the appraiser?
The following items, if available, will help your appraiser to provide a more accurate appraisal.

  • Survey of the property.
  • Deed or title report showing the legal description.
  • A copy of the original plans.
  • Financial and operating statements.
  • Leases currently on the property.
  • Any pending or recent contracts.

What is USPAP?
The Uniform Standards of Professional Appraisal Practice (USPAP) are the generally accepted standards for professional appraisal practice in the United States. USPAP contains standards for all types of appraisal services including real property, personal property, business valuation and mass appraisal. The purpose of USPAP is to promote and maintain a high level of public trust in appraisal practice by establishing requirements for appraisers.

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