09-28-2005, 11:07 AM
| | Commercial appraisal?
Can anyone tell me what is a "useable" comp time wise, when determining a commercial properties value?
I have a commercial property here in FL, in a booming area that I am considering selling, (it is vacant land on highway frontage, at a signal controlled intersection as well). I wanted to get a good idea of its current vlaue as well as the city's opinion of the lands highest and best use. The appraiser was also to give a determination of its value with power and water and other improvements.
The appraiser used 4 year old sales to determine its value when there are hundreds of recent sales to go by that show 3x+ the value.
I know in residential around here 6 months sales are the max used, anything older is way out of line and lenders wont even take them.
Of course this appraisal came out low compared to every recent nearby sale. His claimed highest and best use also came back as "commercial use". DUH. No statement about its value once my stated improvements were made.
I cant believe that this is typical?
Anyone know a "good" commercial RE appraiser in west central FL?
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