The type of commercial appraisal method used to evaluate your property depends on the circumstances, location, and earning potential.
Whether you are looking to buy or sell a piece of commercial property, you will need to have a commercial property appraisal done at some point before closing. In today’s market, lenders typically require an appraisal prior to signing off on a mortgage or other real estate loan. Lenders want assurances that the value of the property they are financing at least meets the terms of the loan. Understanding the three most common commercial appraisal methods will allow you to take a more active role in the process.