Commercial Reviews
7. Commercial and Industrial Valuations
- Standard and unique non-residential structures
- Nationwide coverage
- Completed by MAI and SRA appraisers
- Ideal for origination and OTS valuation requirements
Understanding Commercial real estate is not an easy. With the wide array of legislation, regulations and niche expertise getting a commercial review done on an appraisal can be an easy way to gain insight and more understanding a particular property or area.
The Federal Reserve has recently reiterated that financial institutions must have an effective commercial real estate appraisal evaluation program. A residential or commercial review appraiser performing reviews should "have the appraisal knowledge and experience to assess compliance with the Federal Reserve Regulation 12 CFR 564.4"
Commercial appraisal reviews, should determine whether the real estate under review is appropriate for the transaction, the risk of the transaction, and whether the process by which the collateral valuation is obtained ensures independence and quality. All banks should supplement routine commercial reviews with post-funding evaluations of appraisals for quality on their higher-risk or greater-value transactions as a control to assist in detecting commercial real estate valuation problems."
Moreover, a local experienced commercial appraiser should be utilized in transactions envolving commercial real estate. Additionally, designated residential and commercial review appraiser experts that are members of the Appraisal Institute are the most experienced for your appraisal review assignments.
Performing commercial reviews on narrative and form appraisal reports requires not only knowledge of OTC, FDIC, NCUA, FNMA, IRS, and USPAP guidelines but they also require years of experience in a particular property type by a qualified appraiser. Our commercial review experience includes apartment buildings, office, fast food restaurant, industrial parks, R & D industrial building, gas stations, private college and university, trade schools, retail shopping center, office buildings, commercial automotive centers, restaurant, gas station C-Store, fast food restaurants, self storage facilities (mini-warehouses), vacant commercial land, large commercial acreage parcels, and other special use commercial property to determine if it meets the Uniform Standards of Professional Appraisal Practice (USPAP) guidelines.
Forms are generally used in a review and various review formats are used for review of commercial real estate. An appraiser can prepare your report on any one of them.Our appraisal review services include different formats including, "desk" review , "field" review, and depending on the type of report and the scope of work, we can provide a "short" Restricted Use Report, Summary Report, or a "narrative" review.
We understand what makes a quality appraisal review and what a residential and commercial review appraiser should look for as the most common deficiencies, especially in the ever changing commercial real estate markets. At the same time, we are professional enough to recognize that our competitors in our market are also capable of doing a good job! The Uniform Standards of Professional Appraisal Practice (USPAP) govern reviews as well as appraisal reports, and you can count on highly experienced commercial appraisers to ethically provide you with commercial real estate appraisal review services throughout the US.
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