Frequently Asked Questions
The following provides answers to some of the frequently asked questions about Walter Duke + Partners and the way we do business.
How much will the appraisal cost?
Typically from $2,500 to $10,000 and up. The commercial appraisal costs/fees vary primarily by the complexity of the assignment, availability of data, delivery requirements, and scope of work. Remember, quality is more important than cost when choosing a commercial appraiser and like anything in life; you get what you pay for.
We can also available to consult or assist your team on an hourly basis. Please contact us for more information about our rates.
How long will the appraisal take to complete?
Our standard delivery for most assignments is 15 business days but can vary depending on our workload and the complexity of the assignment. Also, expedited delivery is available at a slight fee premium. Remember, most good commercial appraisers are always in high demand so even if the assignment you ordered only takes the appraiser a week to complete he/she may have to complete a number of assignments already in the queue.
What if I don’t want a full appraisal?
No problem. The type of commercial appraisal can vary depending on the needs of the client and intended use of the appraisal. Commercial appraisals can vary from 10 to 20 pages to over 200 pages depending on the complexity and depth of the assignment. We can help you determine the proper scope of work prior to ordering the appraisal that will best fit your needs.
What if there is a bank lender involved?
Federal appraisal policy dictates the banks must order third party reports including appraisals. Further, if the report is ordered by an individual, in most cases it cannot be used by a bank and a new appraisal will need to be ordered from another company. Visit our credit underwriting page to learn more.
Do you do single family appraisals?
Not as a matter of standard practice. Our practice is focused on commercial properties only, but in certain instances we can provide single family residential appraisals. Examples would be single family residential rental portfolios or other portfolios where there may be a few single family houses in conjunction with non-residential properties.
Do you perform appraisals outside of Florida?
Our practice area is primarily focused on the Florida market, but in instances of portfolio valuation and specialty practice areas such as marina consulting and triple net lease appraisals, we can provide valuation advisory outside of Florida.
What types of property do you appraise?
We are competent and experienced in the valuation of all types of commercial property ranging from small owner occupied assets to complex billion dollar developments. Examples include:
- shopping centers
- office buildings
- multi-family apartments
- industrial properties of all kinds
as well as all types of land. We have particular expertise and experience in the valuation of marinas and boatyards, educational facilities, triple net leased assets and LIHTC multi-family housing. To learn more about our expertise, please click here.
Walter Duke + Partners can assist your accounting and legal team with the valuation of marital assets, and can handle the real estate and business components of the assets. We usually recommend that both sides stipulate to one expert to save time and money.
Do you provide estimates of market rent?
Absolutely, it is very common for use to be asked to either determine the market rent for vacant or owner space or to assist in the determination of the reasonableness of an existing in-place rent. We are also commonly asked to assist clients with their lease renewal. Visit our lease renewal page to learn more.