Why You Need to Get a Professional Appraiser
In the world of commercial real estate, not all appraisers are considered equal. It takes a certain expertise and knowledge to correctly appraise commercial property, and not just anybody is qualified. There are two types of appraisers, a fee appraiser and a staff appraiser. A fee appraiser is generally available to the public for hire, and a staff appraiser works for a specific lender or lending firm. The appraiser that you hire for your commercial investments before you buy can have a great impact on the amount of money you spend and your chances of getting funding from a lender. Most lenders will not accept just any appraiser. So, if you get an appraisal with an appraiser that a lender does not accept, you have just wasted your time and money, and you are no closer to getting the property you want. Let’s look at what makes a qualified appraiser, and who it is you want to hire to evaluate your potential investment. It is common practice for a lender to appoint the appraiser tha...