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COMMERCIAL APPRAISAL REVIEW FORM The appraisal report which is the subject of this review is briefly identified and described as follows Name of Project/Property Location/Legal Type of propert Existing Proposed Construction Name of Appraiser Telephone Address Report Addressed to Telephone Type of Appraisal Report Narrative Printed Form Other identify Section I Purpose and Function of Appraisal Value Sought Market Value Other identify Fee Simple Leased Interest Easements Land...
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How to fill out commercial appraisal review form
Commercial appraisal review forms are important documents used in the assessment of properties. Many individuals and entities, including companies, banks, and investors, may require a commercial appraisal review form to know the actual value of a commercial property. Here are the steps on how to fill out a commercial appraisal review form:
01
The first section of the form usually indicates the property information, which includes the address, the name of the building or site, and the owner's name.
02
The second section captures the appraiser's information, which includes their name, contact information, and other credentials.
03
The third part is the purpose of the appraisal, where the appraiser indicates the reason for the appraisal, which could be for financing, investment or tax purposes.
04
The next section is the property description, where the appraiser provides details concerning the property's size, age, structure, and any other relevant features.
05
The fifth section is the market analysis section, where the appraiser describes the area's current economic conditions, real estate trends, and any relevant data.
06
The sixth section is the valuation approach section, which explains the appraisal methods utilized in determining the property's worth. Three methods are typically involved, and they include the cost approach, income approach, and sales approach.
07
The seventh section is the final value estimate section, where the appraiser combines the reports from the previous sections and provides a summary of the property's fair market value.
08
After completing the form, the appraiser signs and dates it, and it is then submitted to the relevant entities that require it.
In summary, commercial appraisal review forms are used to assess the value of commercial properties. They are critical for companies, banks, and investors interested in purchasing, selling or financing properties. The form requires extensive information regarding the property and the appraiser's evaluation.
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Instructions and Help about appraisal review forms form
If you do commercial appraisals you're obviously used to building your reports around a larger narrative section but many commercial appraisers could use a little structure to their reports especially for the smaller faster commercial jobs for these smaller jobs ala mode has written from scratch our GP commercial form available in both letter and legal size with or without a signature line it contains all three approaches to value grid pages for comparable sites and plenty of room for extensive notes and comments the commercial form even comes with its own set of supplemental forms including the summary of salient features additional cop sites page and a commercial certifications addendum which includes a statement of assumptions and limiting conditions various definitions and appraiser certifications and of course all of these can be used in conjunction with the standard photos and maps pages as well as in a multi-page addendum which can be used to write a narrative section if you're a commercial appraiser consider using all modes GP commercial form on your next smaller job and if you don't have total yet give us a call for a no-strings trial
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