Commercial Evaluation Reports

Ideal Location offers Commercial Evaluation Reports* to financial institutions, appraisal management companies and other real estate holding firms. Our reports were designed to meet the industry needs for Evaluation products and fully comply with the Interagency Appraisal and Evaluation Guidelines Final guidance that became effective on December 10, 2010.

We strive to provide the best reports and service to our clients and as such can tailor additional information requests to our Reports. All of our reports are completed by our local team with years of experience in the local markets. Our Standard Commercial Evaluation Report includes:

  • Property information including description and its current and projected use.
  • The estimated “as is” Market Value of the property using the Sales Comparison Approach using three comparable properties.
  • Income Approach when applicable.
  • Scope of work that contains information that details the process, methods and techniques employed to complete the report.
  • Interior and Exterior Inspection of the subject property (Interior inspection completed when applicable/ feasible).
  • Photos of the subject property
  • Tax info including assessed value, real estate taxes, delinquent taxes.
  • Current zoning designation and zoning authority.
  • Highest and best use as vacant and as improved.
  • Estimated Exposure and Market Time
  • Sales and listing history
  • Market Area Analysis
  • Reconciliation
  • Information on the preparer

*The Commercial Evaluations that Ideal Location completes are not prepared or reviewed by a licensed Real Estate Appraiser. The reports are an Evaluation developed in accordance with the Interagency Appraisal and Evaluation Guidelines Final Guidance that became effective on December 10, 2010, the date it was published in the Federal Register, jointly by the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Department of the Treasury Office of Thrift Supervision and the National Credit Union Administration (“Federal Guidelines”).  Accordingly our Commercial Evaluation Report may be relied upon by Customer in accordance with the Federal Guidelines.

 

ILCRE