2020 has brought unprecedented change to the world due to the coronavirus pandemic, which prompted new temporary guidelines for appraisal.
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.
Dart Appraisal offers insight clients may find useful. This includes a list of important characteristics to note, as well as potential situations, and the impact they may have on the valuation of a commercial property. We will discuss things one may see when either viewing commercial property directly, or in photographs depicted in an appraisal report.