NAI Spring provides Property Evaluations as a lower cost alternative to MAI Appraisals. These are frequently also called Broker Price Opinions (BPO) or Broker Opinion of Value (BOV) reports. A property evaluation is defined as a statement, based upon preliminary study, of what sales rate, within a range, may be realized in an arms-length transaction after exposing the property to the market for a reasonable period of time – more basically what is the market value of a property?
A tour of the property and investigation of public records are conducted to create a property description for the report. NAI Spring agents use their knowledge of recent market transactions to generate comparable sales. Then an income analysis is used to determine what an investor might pay for the property. Occasionally, we will also look at the cost to rebuild and depreciate. These methods are then weighed to determine a value range.
Property Evaluations are completed for a wide variety of purposes including:
- Investors considering purchasing or selling a property
- Estate and Succession Planning
- Sale or Lease analysis
- Business Sales
Contact NAI Spring agents today to discuss your Property Evaluation needs.