Commercial property appraisal is a procedure that involves a trained appraiser who looks at different details about a certain property and then determines what its market value might be as indicated by its different features and the place where it is located, with the final report being handed to the party that ordered the appraisal. Real estate property valuation can happen in many circumstances and it can be done by different people who are obligated under the law of your country to be able to order for the process to be done even if the property belongs to you. One situation that allows for commercial appraisal to be done by a different person is when you owe a large amount of money to a debtor, and the only way he can get his cash back is by selling a certain property you own and he will do an appraisal before selling it to get his money while any extra cash made is handed back to you. Secondly, a commercial property valuation can also be done on your land or home by a customer who is interested in purchasing it from you and he can order that an appraiser does the process and presents and appraisal report to him before he finalizes the purchase. After another person has finished doing the valuation of your land or home, you can ask them for a copy of the appraisal report but the appraiser is under no legal obligation to show the report to you because he does not answer to anyone else but his client who requested for the process.
A few steps are followed during the valuation process when you hire a person to appraise your property. One thing that is done is to investigate the demographics of your property and then the ownership question is studied in detail before comparisons are made with other similar lands or houses that have been sold in the past. After investigating characteristics about that property, your appraiser will request for any other important information you can provide him with and it includes the tax statements related to that property as well as the income statements showing how much money you make from that property.
Finally, the individual will prepare a detailed report that will show you how much your property is valued at and how that money was arrived at. An appraiser can include the retrospective value of the property to show what it used to cost in the past and also the prospective price in future in case it is to be sold at a later date.