Appraisals of commercial, complex and special-purpose collateral.
GP Valuation prepares appraisals and appraisal reviews for banks and their appraisal management companies, written to USPAP and to the Interagency Appraisal and Evaluation Guidelines, with the going-concern value allocated among its components wherever the collateral is real estate and a business at once.
The firm organizes its reports the way a reviewer works a file.
The first page
The value conclusion, the effective date, the interest appraised and the premise of value appear before the narrative begins, so that the reviewer has the result and its terms in hand before reading the support.
The assumptions
Extraordinary assumptions and hypothetical conditions are listed together in one place, with the effect of each on the conclusion stated beside it.
The support
The firm reconciles the approaches in writing and presents every comparable in one fixed form with its source and date, so that any figure in the report can be traced to where it came from.
An engagement runs on a written scope and a delivery date measured from engagement.
The assignment
The lender or the appraisal management company sends the property, the intended use, the interest to be appraised and the date the report is needed.
The engagement letter
Fee and delivery date are confirmed in writing, together with the firm’s statement that it holds no interest in the property or the transaction and its disclosure of any service on the property in the three years before the assignment.
Inspection and analysis
Calculations are performed in the firm’s valuation model, while the selection and weighting of the evidence remain the appraiser’s.
Delivery and review
Before delivery an MAI, Greggie Pascual or John Nolan, reviews the report against the engagement letter and the standards, and the appraiser who signed it remains available to the reviewer afterward.
Collateral that operates a business is appraised as a going concern, and the market value of the real property is stated on its own.
A marina, a hotel, a golf club, a medical facility or a manufacturing plant earns its income as one enterprise. The firm concludes the going-concern value and allocates it among the real property, the furniture, fixtures and equipment, and the intangible assets.
The market value of the real property is reported separately and clearly identified, because the Interagency Guidelines do not permit a going-concern value to serve as market value in a federally related transaction.
Assignments and requests for vendor documents may be sent to the firm at info@gpvaluation.com.
A vendor package is sent on request, with a W-9, a certificate of insurance, current credentials, the appraiser’s qualifications and a sample report. The firm replies within one business day.
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