RESTRICTED COMMERCIAL APPRAISAL Case study
A Bank was concerned about a non-performing commercial asset but did not want to incur a large cost for a new commercial appraisal. They had an older commercial appraisal in hand but were worried that the subject market had changed and therefore the market value conclusion may no longer be relevant. The Bank contacted Dart Appraisal to learn what options were available.
The Dart commercial team was able to look over the prior commercial appraisal report, extract the relevant factual subject property data, and engage a vetted local appraiser to perform a restricted appraisal report at about half the cost of what a full appraisal report would have cost. The Bank was then able to understand the current market value and continue to monitor the performance of the loan without major expense.
The Bank could have been misled as to current market value by relying solely on the dated prior appraisal report. By employing Dart to engage a new restricted commercial appraisal report, the client was able to understand the current market value, which was accompanied by a technical review form citing the credibility of the new report. Dart prides itself on analyzing each client’s specific need and situation in order to problem solve for the best appraisal solution. When utilizing our appraisal management services, our clients can feel assured that they have received the best quality solution for the most competitive price.