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Q: Appraisals for Income Properties ( No Answer,   3 Comments )
Question  
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?
Answer  
There is no answer at this time.

Comments  
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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