As the building for sell is off market, but there is no appraisal, should I suggest owner to get appraisal?

I'm commercial broker, there is a building for sell, it is off market, there is no appraisal on this building, should I ask owner to get appraisal? Otherwise how can i find out the market value to show the buyer? Thanks!
In Buying Property - Asked by Lily L. - Jan 31, 2011
Report Abuse
Answer this Question

Answer(s)

Davide P.
Broker/Agent
Pinole, CA

If you feel you could find other similar or comparable properties that are still available or have sold recently, I would just do a simple comparative analysis. I.e. If it’s a six unit apartment and there’s one with five units that sold for $500k and another seven unit available for $650k, the value would obviously be between those two numbers. It’s going to be much cheaper than an appraisal, and if it’s done properly it should be just as informative. The biggest issue appraisers have today is that there's no sales comps...so you might run into the same problem.

Jan 31, 2011
Report Abuse

Welcome to Answers

LoopNet Answers is where the commercial real estate community shares what they know to help each other out. And it's all for free.

Ask a question to get advice from brokers, investors, professionals and local experts.

Answer questions to raise your visibility as a trusted advisor and build new relationships.

Ask a Question

Post Question