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| Subject:
Appraisals for Income Properties
Category: Business and Money Asked by: sfish-ga List Price: $20.00 |
Posted:
07 Aug 2004 20:47 PDT
Expires: 06 Sep 2004 20:47 PDT Question ID: 384903 |
How much does it cost to get a real estate appraisal for a residential income property of 1-5 units? Do such appraisals routinely give separate values for the cost of the land and building, or do you have to ask for this? |
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| There is no answer at this time. |
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| Subject:
Re: Appraisals for Income Properties
From: neilzero-ga on 07 Aug 2004 22:42 PDT |
Where I live (Jacksonville, Florida) $400 is typical for a single family home worth about $100,000 Your location and your guestimate of the selling price of one two three etc units in the price range of interest may help you get a good answer. The reason you are getting the appraisal may also affect the price. If you are a (boo-hiss) lawyer or government bureacrat, the appraser will likely want more money. My guess is land and building separate, costs double as there are typically zero sold that way recently that are similar, so the appraser has to work harder. There are likely cut rate apprasers in some communities or do you want the most accurate/lowest/highest apprasal? Neil |
| Subject:
Re: Appraisals for Income Properties
From: pm_pratt-ga on 09 Aug 2004 18:46 PDT |
hey, save your money here is the answer, A single family residence SFR for an income property will run you about 375-450 depending on the appraiser. This will include an inspection report, rent survey, and OIS operating income statement. If your rental is a units propery, 2 or more, the price jumps, expenct to spend $800-1000 for this type of inspection. The units report also contains a rent survey and OIS and will be much "thicker". hope this helps, at least this is how it goes in California. |
| Subject:
Re: Appraisals for Income Properties
From: sfish-ga on 10 Aug 2004 00:26 PDT |
Thanks for the information pm_pratt-ga. Does the appraiser automatically include separate values for the land and building? Or do you have to ask for this any pay more? I'll need to know the value of the builidng alone to figure depreciaiton for tax purposes. |
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