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APPRAISAL
An appraisal is defined as the act or process of developing an unbiased opinion of value. This opinion is based upon research of the appropriate markets, the assemblage of pertinent data, the use of appropriate analytical techniques and the application of knowledge, experience and professional judgment to develop an appropriate solution to an appraisal problem. Thus, an appraiser's opinion of real property value should be based upon all pertinent market evidence.
Special use and unique properties can pose a serious challenge to both identify the important factors and to research all pertinent evidence. At Gadd, Tibble & Associates, Inc. we specialize in the more difficult properties--whether it is an ammunition base, a city port or a treasured national landmark. You can be assured of hands-on involvement by an experienced principal in every appraisal assignment. You can also expect detailed market research as well as in-depth discussions with the property owner. In many appraisal assignments the principals of Gadd, Tibble & Associates, Inc. work together to review pertinent aspects of an appraisal prior to finalization. As a result, the client receives the benefit of the best appraisal experience.
The first step in the appraisal process is to determine the purpose and the intended use of the appraisal. At Gadd, Tibble & Associates, Inc. we believe that the intended use and the purpose of the appraisal along with the physical and locational aspects of the property are the most critical components needed to define an appraisal assignment. Through conversations between the client and one or more of the GTA principals, these aspects can be thoroughly discussed and appropriately defined.
The following is a brief listing of the more common intended uses of appraisals and appraisal reports prepared by Gadd, Tibble & Associates.
- Mortgage/Financing
- Buy/Sell Decisions
- Financing/Refinancing
- Credit Analysis
- Portfolio Analysis/Investment Analysis
- Bankruptcy/Loan Workout
- Leased Fee/Leasehold Analysis
- Tax Issues
- Estate Planning/Settlement
- Donations/Gifting
- 1031 Exchanges
- Partial/Fractional Interest Analysis
- Ad Valorem
- Business/Accounting
- Market-to-Market Analysis
- Purchase Price Allocations
- Book Value/Accounting
- Buy/Sell Agreements
- Partnership Activity
- Portfolio Analysis/Investment Analysis
- Changes in Corporate Tax Structure
- Litigation Support
- Eminent Domain/Condemnation
- Right-of-Ways/Easements
- Divorce/Shareholder Litigation
- Partial/Fractional Interests
- Bankruptcy
- Expert Testimony
Once we understand the intended use of the appraisal, we can determine what value types will be needed. Value types include:
- Market Value/Market Value-in-Exchange
- Market Value-in-Use/Use Value
- Business Enterprise Value/Going-Concern Value
- Investment Value
- Liquidation Value/Quick-Sale/Orderly Sale
- Assessed Value
The principals of Gadd, Tibble & Associates, Inc. have the knowledge, experience and ability to solve questions of value and complete appraisal assignments on a wide variety of property types, including complex properties with complicated valuation issues. Listed below is a sampling of the type of properties that we have appraised.
Industrial Facilities. Including multi-building complexes, manufacturing and processing plants, steel and paper mills.
Commercial Properties. Retail buildings, regional shopping centers, department and "big box" stores, hotels and motels
Office Properties. Multi-tenant as well as corporate office buildings, research and development buildings, medical offices and single-occupant buildings.
Residential Properties. Apartment complexes, high-rise apartment buildings, subdivision and planned unit developments, condominium developments.
Special Purpose Properties . Airports, quarries, grain elevators, golf courses, race tracks, buildings with historical significance, arsenals, complex government installations. Vacant Land. Residential, agricultural, commercial, industrial, government owned land. |
