Hotel Appraisals from Appraisals By Michael

Hotel appraisals fall under the “hospitality” umbrella, as there are a large number of different types of hotel properties. Because of this, appraising these types of properties take an elevated level of skill and prior knowledge. Appraisers need to have experience dealing with business intangibles, and know how to properly appraise both personal and real property. At Appraisals By Michael, we understand the unique nature of industrial buildings and the importance of hiring an experienced appraiser.

As a leading Georgia real estate appraisals firm, Appraisals By Michael works to provide award-winning service to all of its clients. Not only do we specialize in residential property appraisal, but we also provide our services for commercial properties across metro Atlanta.

Commercial appraisals cover a range of services. After a thorough inspection, we will investigate the current economic situation in relation to your property as well as the market area and an in-depth description of your property.

Unlike residential appraisals, we look into to the intended use of the property in question and survey the need for it in the community. This will help determine the commercial property’s value. After researching the property’s highest and best use, we can then provide you with a credible appraisal report.

Appraisals By Michael offers its customers the opportunity to receive one of three different types of appraisals. These include a restricted-use appraisal, a summary appraisal, or a self-contained appraisal.

Restricted-Use Appraisal: The shortest type of appraisal report, with a limited amount of reasoning, analysis, and data. This appraisal type comes with supporting documentation preserved within the appraiser's files for future reference.
Summary Appraisal: This particular type of appraisal report is the most common, as it gives a complete summary of the reasoning, analysis, and supporting documentation relevant to the entire appraisal and valuation process.
Self-Contained Appraisal: This appraisal report provides the client with the most in-depth analysis of all three appraisal types. It includes all the reasoning, analysis, and supporting documentation that may be used in the valuation process.

Depending on the specific type of commercial property we are valuating, Appraisals By Michael will use one of the three different appraisal methods in order to effectively provide you with an accurate summation of your home's value. Each method illustrates your individual property type and approaches it accordingly.

Cost Approach: As one of the rarest methods used, this approach works under the assumption that the value, the replacement cost and the cost to the construct the property in question are the same. One must possess a comprehensive knowledge of both construction and material costs in order to complete this type of appraisal approach.
Sales Comparison/Market Approach: This method is easily the most popular appraisal approach, as most are already familiar with it. It is the accepted method for appraising residential real estate, and involves investigating properties with comparable characteristics that are found within the same market area as properties sold recently. The appraiser compares the properties in question, then deducts value from the subject property. This method is usually used for an investor who is seeking conventional financing.
Income Capitalization Approach: This approach is used as a short-hand method used by appraisers for real estate investors to define the value of a certain property, by determining its income in comparison to similar properties.

General Questions?

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