Commercial Real Estate Appraisal

Insurance Appraisal, What is it? An insurance appraisal documents the estimated cost to rebuild improvements to a property after a catastrophic event such as fire, storm or flood. Market value, land value and depreciation which are typically part of a mortgage-based appraisal are not considered. The Replacement Cost New (RCN)  estimate of a properties improvements can be obtained in (3) ways: 1) Your Insurer pays an expert to estimate RCN 2) Your Insurer uses "in house" cost estimating software 3) Property owner pays an expert to estimate RCN Pros & Cons of each method 1) Good IF you get a say in who the contracted "expert" is 2) Good IF Insurer spends adequate time in the RCN estimate 3) Best     IF  you are looking for "peace-of-mind" by knowing that you are not under-or-over insured.  Your insurer will likely prefer this method since they are not liable for you being underinsured under this scenario.  Your Expert Daniel Peele, RZ 887 is a State...

Subdivision & Sellout Property Appraisal Documents Needed PSP , Preliminary Site Plan Approved, at a minimum. This document shows the layout of lots, streets, common areas, retention, etc.  A civil engineering firm will create your plat and submit it to the local planning department for approval.  The first step in the approval process is Preliminary Site Plan (PSP) approval. Purchase Contact Shows price paid for “Blanks”, an industry term used to describe raw land approved for subdivision development. Infrastructure   Cost The cost to construct underground utilities, roads, accel / decel lanes, etc Ratio Analysis as a "Road Map"  Take the average retail price of a finished home, multiply  by 35% and you get the "indicated"  retail  value of each lot.   Ratio analysis give you a "guide" to go by for a quick check of economic feasibility and for "comp selection". Example (Assume) 100 lots in a subdivision with homes that sell for an...