Metro Atlanta Commercial Property Appraisal Services from Appraisals By Michael

• Garden apartments
• Luxury rental apartments
• Condos
• Subdivisions
• Townhouses
• Planned developments

Hotels

• Limited/Full-service hotels
• Limited/Full-service motels
• Bed & Breakfasts
• Resorts

Medical Centers

• Hospitals
• Urgent care clinics
• Retirement facilities
• Senior living centers
• Nursing homes

• Cathedrals
• Churches
• Mosques
• Temples
• Synagogues

Our top priority is to serve our clients

Pricing for commercial appraisal services

When you order a commercial appraisal, you are essentially paying for the appraiser’s time and expertise. A typical commercial appraisal will take anywhere from 10 to 21 days, however Appraisals By Michael will only take 1 to 2 days. The sale price and property value have little to do with the commercial appraisal fee.

What affects commercial appraisal fees? There are essentially four factors affecting the fee of the commercial appraisal: 

• Complexity of the assignment: The more complex the assignment, the larger the scope of the investigation, the longer it will take and the higher the fee will be.
• Availability of data: The scope of the assignment and data availability are intertwined. In many cases we visit and revisited the markets to inspect comparables, but find no sales that are relevant to the analyses at hand. Assignments such as this turn out to be complex due to the lack of availability of similar comparable data.
• Report Format is Purpose Driven: There are essentially three formats available to the appraiser; the full-narrative, the summary narrative and the restricted report. More often than not the user of appraisal services has little control over the required report format.
  • Full-narrative report: Used when an appraisal assignment is more complex than usual, it can cost thousands of dollars more than the same property reported in a summary format.
  • Summary narrative report: The most common report ordered by a lender, unless they must order higher due to FDIC insurance.
  • Restricted report: Also called a letter appraisal, this is the most economical format. Because this format can only be relied upon by the client, it is not recommended if there is a potential that a third party will need to rely on the value conclusions. 

• Required Turn-Around This is where the user of appraisals has the most influence on fee. We often receive calls asking for a summary appraisal of a property that is escrow with a closing date of say two weeks away. As stated earlier, the typical appraisal will take anywhere from 4 to 21 days, and in most cases the appraiser does not know the full scope of analysis required in the commercial appraisal until he/she actually sees the property. On short-order appraisals like this presents a huge risk factor for the appraiser in that the fee quote is typically issued prior to seeing the subject and what data is available. As a result, the appraiser will usually factor such risk into the fee quote with considerations such as potentially having to work weekends to complete the assignment on-time. Again, per USPAP, there are no shortcuts – the analysis has to be completed to USPAP standards regardless of fee and turnaround time.