Commercial Appraisals Provider
Since 1971, Domus Appraisals has been providing property owners, attorneys, and lenders with accurate and reliable commercial appraisals. We are relied upon for our expertise, knowledge of local areas, and the level of due diligence provided for every commercial appraisal performed.
Commercial properties are typically categorized as: office buildings, industrial properties, retail property/restaurant, vacant land (commercially zoned), multi-family properties, and any other property with a legal, non-residential usage. Commercial multi-family properties are identified as a property containing 5 or more residential and/or commercial units. Specialty commercial properties would include: marina, hotels, hospitals, schools, correctional facilities, etc.
The Types of Commercial Appraisals We Do
Our commercial appraisals are relied upon by the Court Systems, in assisting banks with lending decisions, aiding attorneys in estate and trust planning, and providing buyers & sellers with the knowledge needed to buy or sell properties. Commercial appraisals are also utilized as the primary support to justify and prove an over assessment within the tax grievance or tax certiorari process.
In many instances, pre-purchase appraisals are requested by the parties involved with a potential purchase/sale of a commercial property to obtain the market value of the property. This could be to determine the sale price, help negotiate a fair sale price, or to set an offering price.
Whenever there is financing involved with the purchase of a property, all banks retain the services of commercial appraisers to determine the current market value of the property. When commercial property owners refinance or obtain a line of credit, the lender also requests an appraisal of the property. Domus Appraisals provides services for many large and small banks, as along with private lenders who provide more non-conventional loans and financing.
Commercial appraisers are typically needed to value commercial properties that are involved with a foreclosure or that are subject to a short sale. The bank or REO that owns the property, or holds the mortgage, obtain appraisals to determine the market value of the property. Potential buyers, investors, and banks providing potential financing may also request the value of a foreclosed or short sale property.
There are a variety of other reasons that commercial appraisers are needed. A property’s value is typically required for matrimonial (divorce) & bankruptcy proceedings. Commercial appraisals can be requested for the current market value of a property, or for a retrospective value of a property in which it is appraised as of a specified previous date. This is most common in estate and matrimonial appraisals where a property’s value is needed for a prior date (date of death/ date of separation).
Need A Commercial Appraisal?
Domus Appraisals has extensive experience with valuing commercial properties with a focus on meeting our clients’ specific needs. Our commercial appraisers are equipped to complete appraisals on most commercial properties within a 1-2 week time frame at the same time providing unmatched levels of service and communication. If necessary, we can accommodate a client’s request to complete commercial appraisals of certain properties in less than 1 week. Call us today at 1-866-468-0271 or fill out a contact form.
