At Value Research Group, we appraise all types of properties for a wide variety of purposes in the New Jersey and New York metropolitan areas. Our experienced staff is well trained in the fundamentals of a real estate valuation and sound appraisal practice. We provide detailed complete appraisals as a part of our professional service.
Over our many years in business, we have appraised various types of property, including apartment buildings and residential subdivisions, neighborhood shopping centers, movie theaters, hotels, golf courses, power plants, casinos, churches, community centers, hospitals, office buildings and office condominiums, parking lots and garages, schools, and supermarkets, among others.
Appraisals in New Jersey
A real estate appraisal or property valuation is the process of developing an opinion relating to the natural, quality, value or utility for a piece of property. The groundwork of an appraisal involves obtaining and analyzing information relevant to the property, researching appropriate market areas, and the experience and professional judgment of the appraiser.
Appraisals are usually required for any type of property, including apartment buildings and condominiums, single-family homes, office buildings, shopping centers, and industrial buildings. The purpose of performing an appraisal varies. Generally, they are required whenever real property is sold, developed, mortgaged, taxed or insured. For instance, we prepare appraisals for mortgage lending purposes, tax assessments and appeals, negotiation between buyers and sellers, business mergers or dissolutions, and lease negotiations.
Types of Value
There are many different types and definitions of value that a real estate appraisal works with. Some of the most common include:
· Market Value:
Interchangeable with open market value or fair value, this is the price at which an asset would trade in a competitive auction setting.
· Use Value:
The use value (also known as value-in-use) is the value to one particular user. This may be above or below the market value of a property.
· Investment Value:
Investment value is the value of an asset to the owner or a prospective owner for individual investment or operational objectives.
· Insurable Value:
This is the value that is covered by an insurance policy. It typically does not include the site value.
· Liquidation Value:
This is most typically used in bankruptcy proceedings. This type of value assumes a seller who is compelled to sell after an exposure period, which is usually less than the market normal time frame.
Real Estate Appraisals in NJ
At Value Research Group, our appraisers provide objective and unbiased opinions about the value of real property. We provide assistance to our clients who own, manage, sell, and invest in real estate. We’ll work to gather facts, statistics, and other information regarding your specific properties. Then, we will analyze this data, and develop opinions of value on the property. We will communicate effectively with you and put our analytical skills into practice, providing you with the most professional appraisal service in New Jersey. If you are looking for an appraisal for your property, please contact us today to get started.