| The appraiser that you hire for your commercial | | | | property. |
| investments before you buy can have a great | | | | A very widely used and accepted type of |
| impact on the amount of money you spend and | | | | appraiser is one that is certified by the American |
| your chances of getting funding from a lender. | | | | Institute of Real Estate Appraisers. They are |
| Most lenders will not accept just any appraiser. If | | | | members, making them M.A.I. designated. Most |
| you get an appraisal with an appraiser that a | | | | lenders will require that you use only an MAI |
| lender does not accept, you have just wasted | | | | appraiser. These MAI appraisers have gone |
| your time and money, and you are no closer to | | | | through intense study, years of practice, and |
| getting the property you want. | | | | have had to perform under tight supervision while |
| In the world of commercial real estate, not all | | | | appraising many different properties. |
| appraisers are considered equal. It takes a certain | | | | Most MAI appraisers will not conspire with a |
| expertise and knowledge to correctly appraise | | | | borrower because there is too much to lose and |
| commercial property, and not just anybody is | | | | too much invested in their practice. For this |
| qualified. There are two types of appraisers, a fee | | | | reason, most lenders will accept MAI appraisals |
| appraiser and a staff appraiser. A fee appraiser is | | | | regardless of whether or not they know the |
| generally available to the public for hire, and a | | | | appraiser personally. For the most part, lenders will |
| staff appraiser works for a specific lender or | | | | have trusted appraisers that they work with all |
| lending firm. | | | | the time, and will require that you use only their |
| Let's look at what makes a qualified appraiser and | | | | appraisers. Be sure to get clarification on this issue |
| how they can help you purchase the property | | | | before you hire an You can trust MAI appraisers |
| you want with as little hassle as possible. | | | | to perform an accurate evaluation of your |
| It is common practice for a lender to appoint the | | | | prospect property. With this appraisal, you will be |
| appraiser that is to appraise the property in | | | | able to get the proper amount of money loaned |
| question. This practice is in place because there | | | | on the property and not come out short. |
| are dishonest buyers who work with certain | | | | It is always a good idea to research your |
| appraisers that will inflate the property's true | | | | appraiser and view some of the work that he or |
| value. This, in turn, allows the buyer to borrow | | | | she has done in the past. The appraiser and the |
| more money than what a lender would normally | | | | appraisals should be of the utmost professional |
| allow, thus increasing the lender's risk. | | | | quality because so much is riding on their appraisal. |
| Inflating a property's true market value is | | | | Even if it costs you more money, always use an |
| surprisingly easy because appraisals are simply | | | | MAI appraiser to avoid problems with the lender |
| guesstimates of a property's true market value. | | | | and unnecessary expenditures. |
| They are interpretations based on the surrounding | | | | MAI appraisers are crucial to your commercial real |
| property and selected criteria. An appraisal can be | | | | estate investing endeavors, and can carry quite |
| "fixed" according to a person's interest. That is | | | | an impact on the money that can be loaned to |
| why the two parties must not have any prior | | | | you. To get the money you expect from a |
| dealings or common interest in the subject | | | | lender, use a MAI appraiser every time! |