The purpose of the Due Diligence Report is to assist the client in determining a course of action with regard to real estate activity by providing an initial evaluation of sales activity in the current market, and a preliminary analysis of net income projections as they translate to value. This product, while not a complete appraisal provides a cursory review and analysis of actual recent sales activity in the local market, and a pro forma income capitalization, designed to assist the client in determining the feasibility of further more comprehensive appraisal expense.
Why pay the high cost of a commercial appraisal if you don’t have to?
A certified commercial appraisal contains information and market data required by industry guidelines and financial institutions. However, if you only need basic market info, a full appraisal may not be needed. If this is the case, our much more affordable commercial due diligence service can get you all the info you need.Having a due diligence report drafted prior to a full appraisal is a great first step. The standard fee for our full appraisal service is $1500. If you start with our due diligence report and move on to a full appraisal, you can credit the cost of your purchase toward the cost of a full appraisal.
By doing this, you limit your initial out of pocket expense while providing yourself with relevant market information. After reviewing this report you can then use this information to help you decide whether you’d like to move forward with the full appraisal.
We offer two versions of this report, a standard commercial due diligence report and an enhanced commercial due diligence report.
Standard Due Diligence Report
A basic due diligence report that includes:
- An executive summary.
- Exterior-only inspection of the property.
- Market approach based on current reflective comparable sales.
- Income approach based on estimated market rents and income data.
- An addendum including supporting documentation.
The cost of this report is $500 and has a turnover time of 7-10 business days.
Enhanced Due Diligence Report:
A more detailed report that includes::
- An executive summary.
- Interior and exterior inspection of the property.
- Market approach based on current reflective comparable sales.
- Income approach based on actual rent comparables and actual income and expense data, and an addendum including supporting documentation.
The cost of this report is $750 and has a turn time of 7-10 business days.
Remember,
you can upgrade to a full appraisal by paying the difference of the selected due diligence report and the full appraisal within 6 months of your order. Please note that any appraisal report as a result of an upgrade will be based on the same effective date utilized in the due diligence report.
| Residential Services | Price |
|---|---|
| Interior/Exterior Single Family | $275 |
| Exterior only (Drive by) | $250 |
| Multi Family 1-4 Unit | $500 |
| Field Review | $375 |
| Enhanced Field Review | $400 |
| Complex Property | Case by case |
| Commercial Services | Price |
|---|---|
| Summary Appraisal Report | $1500 |
| Restricted use Appraisal Report | $1300 |
| Commercial Due Diligence Report | $500 |
| Enhanced Due Diligence Report | $750 |
| Complex Property | Case by case |