We at ISN Appraisal Service offer a short form "Limited Commercial/Industrial/land Appraisal and Summary Report". It is accepted for use where a more exhaustive descriptive report is not necessary. It can be used for bail bonds, uncontested matrimonial, estate or financial planning, gift tax, partnership/corporate buyout or to establish fair market value for sellers or purchasers. It is also available for appraisals on small non-complex commercial & industrial properties or vacant land (except subdivision).
The appraiser's account of the physical characteristics of the property will be acquired from reliable data sources and either an interior and exterior inspection or drive-by exterior inspection (when interior access is not possible or desirable). The inspections take about half an hour to one hour, depending on the size and complexity of the building.
Our "short form Commercial/Industrial Appraisal Report" generally consists of a letter of transmittal; brief neighborhood analysis; brief description of the site; brief description of any improvements; direct sales comparison approach; reconciliation; definition of market value; certification; contingent & limiting conditions; exterior photos of the property in question; exterior photos of all comparable sales used; comparable sales location map and qualifications of the appraiser and reviewer.
BRIEF NARRATIVE APPRAISAL REPORT
Our "Brief Narrative Appraisal Report" is intended for any type of commercial or Industrial property or vacant land (except sub-division). It is used for formal certiorari tax appeals, condemnation, contested matrimonial or any situation relating to small non-complex commercial property, industrial property or vacant land in which court testimony is relevant.
The appraiser's account of the physical characteristics of the property and comparables will be obtained from reliable data sources, as well as a thorough interior and exterior inspection. The inspection usually takes in between one hour to two hours, depending on the size and complexity of the building.
Our "Brief Narrative Appraisal Report" is a "summary" report which generally consists of a letter of transmittal; summary of important conclusions, regional analysis, neighborhood analysis; description of the site; description of the improvements; highest and best use analysis; zoning analysis; tax analysis; statement of ownership; property rights appraised; scope of the appraisal; cost approach; income approach; direct sales comparison approach utilizing comparable sales on the comparison grid; reconciliation; description of the appraisal process, definition of market value; certification; contingent & limiting conditions; firrea addendum; interior and exterior photos of the subject property; exterior photos of all comparable sales used; comparable sales location map; sketch of subject property showing layout; flood map if in print and qualifications of the appraiser and reviewer.
FULL NARRATIVE APPRAISAL REPORT
Our "Full Narrative Appraisal Report" is designed for any type of commercial or Industrial property or vacant land including sub-division. It is used extensively by lenders and other investors for purchases and refinancing purposes. It is also used for formal certiorari tax appeals, condemnation, contested matrimonial or any situation involving complex commercial property, industrial property or vacant land in which court testimony is relevant.
The appraiser's account of the physical characteristics of the property and comparables will be obtained from reliable data sources, as well as a thorough interior and exterior inspection. The inspection usually takes from one hour to six hours, depending on the size and complexity of the structure.
At ISN Appraisal Service, a "Full Narrative Appraisal Report" is a "self contained" in-depth report which typically consists of a letter of transmittal; summary of important conclusions, regional analysis, neighborhood analysis; description of the site; description of the improvements; highest and best use analysis; zoning analysis; tax analysis; statement of ownership; property rights appraised; scope of the appraisal; cost approach; income approach; direct sales comparison approach utilizing comparable sales on the comparison grid; reconciliation; description of the appraisal process, definition of market value; certification; contingent & limiting conditions; firrea addendum; interior and exterior photos of the subject property; exterior photos of all comparable sales used; comparable sales location map; sketch of subject property showing layout; flood map if in print and credentials of the appraiser and reviewer.
