A commercial real estate transaction is a complex process and an omission of any of the crucial steps can cause adverse results. But, working with the right Arkansas commercial appraiser can make a huge difference in the outcome.
In commercial real estate transactions, a diligent negotiator should do everything in their power to ensure that the basic required steps are taken to guarantee that both parties are treated fairly and the transaction is completed based on honest assessments of the property’s value, both now and in the near future. Appraisal accuracy can be an important tool in the negotiation process, and a trustworthy, certified commercial appraiser is vital to all parties involved.
Hiring a Competent Commercial Appraiser
To find the right real estate appraiser for your specific transaction, the same due diligence is required that you would do before hiring any service oriented company. Make certain that the appraiser you are considering has a history of accurate appraisals and look for references from others who have used their services. A little bit of research on your part can make a huge difference as the transaction progresses.
Creating a Commercial Real Estate Transaction Checklist
Commercial real estate transactions are complex, and an omission of any of the crucial steps could kill your deal, or have legal ramifications. To avoid these issues, as a good negotiator, create a checklist that contains all of the vital steps to be taken.
- Title Review
Before the transaction can even begin, any and all title issues must be resolved.
- Property Appraisal
This is completed to determine the true value of the property. It is important to use an Arkansas commercial appraiser that has a proven track record of complete and accurate appraisals.
- ALTA Survey
A land survey conducted by the American Land Title Association (ALTA) will guarantee that the property being sold matches the information listed on the title.
- Environmental Inspection
This inspection checks for the presence of hazardous materials and ensures that if they are present, they are contained in a manner compliant with EPA (US Environmental Protection Agency) guidelines.
- Financial Checks
These are necessary to ensure that the buyer has the financial means to complete the transaction and that the property has the proper financial records needed by the buyer.
In all commercial real estate negotiations, the accuracy and trustworthiness of the appraisal will make or break a deal. Certified commercial appraisers at Ferstl Valuation Services located in Arkansas have developed a trusted, expert reputation by providing more than 45 years of accurate and fair appraisal services. Before negotiating your next commercial investment, contact the commercial appraisal professionals at Ferstl Valuation Services for quick and accurate property valuations. Also, be sure to check out the full range of real estate services Ferstl offers.