11-13-2015 6-26-33 PM

Do I need a commercial real estate appraiser or a residential real estate appraiser?

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The main difference between a residential real estate appraiser and a commercial real estate appraiser is the property type in which the appraiser is LICENSED and COMPETENT to appraise.

When in doubt, hire a Certified General Real Estate Appraiser whom will perform the appraisal or refer you to a competent residential appraiser.

In summary, there are 3 types of real property appraisers:

#1 Certified General Real Property Appraiser

The appraiser holding this license can appraise any and all types of real property.  This can include a single-family home, a daycare, a winery, a warehouse, a gas station, a highway bypass, a downtown apartment building or even the stadium of your favorite athletic team!

#2 Certified Residential Real Property Appraiser

The appraiser is qualified to appraise one to four residential units without regard to value or complexity; from a $1 single-family mobile home to a the biggest home in Wisconsin!

#3 Licensed Real Property Appraiser

The appraiser is qualified to appraise non-complex 1-4 units valued less than $1,000,000 and complex one to four residential units having a transaction value less than $250,000.

If all else fails, contact your local bank to seek whom their approved appraisers or utilize www.appraiserusa.com!

 

At Masters-Hall Appraisal, we are certified as a General Real Property Appraiser, so we can appraise any residential or commercial property and would be happy to extend our services!