By Mark L. Plourde, MAI, Maine Valuation Company
So you ask a simple question “What’s my property worth?”. Depending on whom you ask, the answer may be given quite quickly, but also may vary quite widely! Why is there such a difference?
Perhaps it wasn’t clear just “what” the property actually consists of. For instance –where is it located? How much land is included? What is the zoning, and are there any deeded easements and/or use restrictions? How big and how old is the building? Are there any tenants with leases in place? What is the condition of the property? And so on and so forth…what becomes readily apparent is that one simple question of “what’s it worth” actually involves a number of questions that require answers before the opinion given should be considered credible. Appraiser’s apply due diligence, data, and analyses in forming an opinion of value.