Jim is an Arizona commercial appraiser, and has been designated by the Appraisal Institute as an MAI, signifying commercial valuation excellence. MAI appraisers have met rigorous and demanding requirements concerning education, testing, experience, demonstration of knowledge, understanding and ability. Appraisal Institute designations have long been recognized by courts of law, government agencies, financial institutions and investors as a mark of excellence in the field of real estate valuation and analysis.
Jim has experience with a wide variety of property types. Each property type has its own unique appraisal issues, and some of those issues are discussed on a separate page. Links to those pages are:
Reasons for a Commercial Appraisal
• Mortgage Financing. Appraisals are often necessary when purchasing or refinancing a commercial property. With mortgage financing, typically the lender selects the appraiser from their approved appraiser list.
• To establish market value. Often appraisals are needed to determine the market value of a commercial building prior to listing the property for sale. Appraisers are ethically bound to provide an unbiased opinion of value, unlike real estate agents and others, who have a financial interest in the sale and may tell you what they think you want to hear so that they can get your listing or make an offer on your property.
• Divorce. An unbaised appraisal can assist in the division of assets so that both parties can move on with their lives.
• Estate or Probate Appraisals. A retrospective appraisal with the value based on a particular date of death is often used in estate or probate cases, depending on the needs of the executor or family members.
• Bankruptcy or forced-sale liquidations or auctions. When filing for bankruptcy, a real estate appraisal can provide an opinion of your building's fair market value, which can assist with liquidation paperwork.
• Business dissolutions. When its time to part ways, a real estate appraisal can provide an opinion of fair market value, often just one component of the dissolution process.
• For government acquisition of private property for public use. The government can take private property through eminent domain, and the rules for compensation vary depending on whether the entity doing the condeming is local, state, or federal government. Some quasi-public groups, like utility companies, also have eminent domain powers.
• Inheritance Taxes. Real state appraisals can assist families to determine whether assets are high enough to engage state or federal inheritance taxes.