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Market
Value for Institutional Loan
Market
Value for real property can vary depending on the intended
use of the appraisal such as institutional loan (economic),
litigation (legal), real estate taxation, or investment purposes.
Although we can provide an appraisal value for each intended
use, the most widely sought after value is for institutional
loan purposes (buying/selling/debt restructuring).
For
this economic purpose, 'market value' can be defined as, "The
most probable price, as of a specified date, in cash, or in
terms equivalent to cast, or in other precisely revealed terms
for which the specified property rights should sell after reasonable
exposure in a competitive market under all conditions requisite
to a fair sale, with the buyer and seller each acting prudently,
knowledgeably, and for self-interest, and assuming that neither
is under undue duress."
For
nine years, Crown Appraisal has been providing quality appraisals
for loan purposes from lending institutions. With even the
most complicated valuations, we deliver on time results with
the highest professional standards.
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Market
Analysis / Feasibility Analysis
Market
Analysis is the identification and study of the market for
a particular property. We can perform this type of analysis
to determine if there is appropriate market support for an
existing property or evidence that there will be market support
for a proposed use of a site in the future.
A
Feasibility Analysis is done to investigate the cost-benefit
relationship of a real estate endeavor and can be used to determine
if the endeavor will fulfill the profitability objectives of
a particular investor or market. These types of analysis can
provide the basis for determining the highest and best use
of a property. Our clients for these services usually include
investors, developers, local businesses, and large corporations
looking to expand operations or acquire assets.
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Appraisal
Review
Appraisal
Review is the process of developing and communicating an opinion
about the quality of another appraiser's work. There are two
types of appraisal reviews: 1) Technical Review, which is performed
to render an opinion about the data gathered, analysis, and
conclusions of an appraisal, and 2) Administrative Review,
which is performed to confirm calculations and determine if
the appraisal complies with content requirements. Based upon
your needs, we can review all or various parts of an appraisal
report or workfile to render our opinion in determining appraisal
compliance, or that the data gathered, analyses, and the conclusions
formed are accurate and correct. Please contact one of our
professionals to discuss and determine what type of review
best suits your needs.
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Consulting
Services
Consulting
Services is defined by USPAP as "the development of
an analysis, recommendation, or opinion to solve a problem,
where an opinion of value is a component of the analysis leading
to the assignment results." This type of work differs
from a traditional appraisal assignment in that an appraiser
is needed to provide advice, recommendation, or a conclusion
other than value. Crown Appraisal provides these services while
meeting the specific needs and objectives of the client.
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Estate
and Corporate Valuation Services
Estate
and Corporate Valuation Services are often needed for tax purposes
with respect to personal estate planning and privately held
corporations, both limited liability companies and partial
interests. Crown Appraisal not only has experience in this
valuation field, but understands the appraisal report format
that will satisfy state and federal requirements, while minimizing
your appraisal costs.
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Litigation
Support
Litigation
Support includes, but is not limited to, providing attorneys
with professional assistance in evaluation of appraisal reports
and documents. Our firm advises attorneys on matters of standards
of practice, professional codes of ethics, market data sources,
and industry and market trends. We also assist in case management
with respect to helping structure questions for appraisal experts
on either side of the case pertaining to depositions and trial
testimony.
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Condemnation
Condemnation
entails the government power known as eminent domain to take
private property for public use upon payment of just compensation.
As an appraisal firm that specializes in eminent domain,
we are aware that the determination of the market value is
vastly different than the market value for the intended use
of a loan from a lending institution. In contrast, the market
value for eminent domain states, "The market value of
land or real-estate is the highest price estimated in terms
of money that the property will bring if exposed for sale
in the open market…" (Each state's definition
may vary, as well as applicable jury instructions.)
The
appraisal procedures pertaining to eminent domain are very
detailed and subject to constant change. Therefore, the appraisal
firm that represents your business interest should be a specialist
in this field. Crown Appraisal is an expert appraisal firm
in eminent domain and property condemnation cases with 14
years of experience.
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Property
Tax Appeal
Property
Tax Appeal deals with the assessed value as determined by the
taxing authority based on an assessment ratio that is a percentage
of market value. Many taxing authorities use mass appraisal
techniques and the automated valuation models to compensate
for limited resources including budgets, time, and personnel.
Unfortunately, these methods allow for common data analysis
and do not take into account a specific property and its characteristics
such as special use properties, properties affected by environmental
concerns and properties suffering from substantial obsolescence.
Crown Appraisal can assist in determining inadequacies in the
valuation models used for ad valorem taxation purposes including
incorrect methodology, inaccurate data, and incorrect applications.
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Expert
Witness
Expert
Witness is called upon to provide explanation and clarification
of the principals and practices of the appraisal profession.
Being engaged to offer expert testimony in a court of law demands
a long and established record with the proper credentials.
Crown Appraisal is qualified and has over 14 years of experience
of testifying in courts of law.
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