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A qualified appraiser will compare recent sales of similar localproperties, market trends and conduct a visual inspection of the home’s interior and exterior to determine the property’s fair market value. If the appraised value ends up matching or is higher than the contract price, the transaction can continue as planned.
For instance, you may want to share the commercial appraisal with the seller, your lender, and perhaps your localpropertytax appeal board. Question 10: What do commercial appraisers look for when determining a property’s value?
Expense Projections : Operating costs like propertytaxes, insurance, utilities, maintenance, and management fees are then subtracted to derive Net Operating Income (NOI). For example, propertytaxes might rise after a sale, or insurance premiums could spike in areas prone to natural disasters.
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