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Popular Industrial and Commerical Appraiser Terminology
Whether insuring or selling high-end equipment, buildings, machinery, real estate, or fine artwork, hiring a reputable appraiser is a vital component in order to ensure the value of said equipment or property is properly assessed. In order to have a better understanding of the appraiser industry, it is important to first understand the terminology associated with it. Below are several terms to be familiar with when researching industrial or commercial appraisers.
Real Estate Appraisal - Land valuation or property valuation is the process of assessing the financial worth of real property. The value usually sought is the property's market value. Appraisals are important because real estate transactions occur very infrequently. Additionally, every property is different with respect to structure size, location, and surrounding real estate values, all of which are important factors in assessing total value.
Ad Valorem Tax - Ad Valorem Tax is a tax based on the value of real estate like buildings, land, or personal property. It is typically imposed at the time of a transaction, but it may be imposed on an annual basis in the instance of real or personal property tax.
Fixed Asset - Fixed asset is a term used in accounting for assets and property which cannot easily be converted into cash. This can be compared with current assets such as cash or bank accounts, which are described as liquid assets.
Desktop Appraisal - A desktop appraisal is performed without the appraiser physically being present on the site of the assets. Thus, no physical inspection of the assets takes place. A detailed asset listing must be provided. The appraiser depends only on the information he/she is given by the company.
Appraisal Broker - A broker is an individual or brokerage firm that arranges transactions between a buyer and a seller, and receives commission when a deal is finalized.
Industrial and commercial appraisers determine the value of commercial and industrial properties. Commercial property owners can hire commercial real estate appraisers who specialize in assessing and determining the value of various commercial properties, industrial property assessment, building and office appraisal, corporation and other companies service, broker services, business lease services, development estimate services, national buy rates and space considerations. Usually, industrial and commercial assessments are done for insurance or tax purposes to determine the value of a particular property. Appraisals can help determine the architectural, historical and financial value of a property or building, addressing both tangible and intangible assets. Governmental agencies, health care enterprises, fine art collectors, financial institutions, education centers and schools, churches and non-profit organizations are some of the industries that can take advantage of a commercial appraisal and industrial appraisal. Financial risk managers, agents, brokers and consultants can all advise you on appraisals and value of your facility. To find an industrial or commercial appraiser who specializes in your needs, try an online search or your local phone book. Many appraisal directory websites can help you find a qualified and professional appraiser, listing only licensed appraisers. You can select either commercial or industrial appraisers, or both, and view a listing of all commercial appraising services or industrial appraising services in your area meeting your needs. You can check out the appraisers industrial & commercial company's contact information, address, specialties, license information and company coverage area. You can also ask your insurance company what appraisal service they would recommend. So whether your building or office needs to hire the services of an appraisal consultant, broker or real estate agent, make sure you choose the industrial and commercial appraisal company that works for you.