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Valuation process

Pre-Valuation Preparation

Gather property information such as location, size, age, condition, and any recent renovations.

Obtain financial information such as income and expenses, rental rates, and occupancy levels.

Review any legal documents related to the property, such as leases, zoning regulations, and environmental reports.

Market Analysis

Research comparable properties in the area to determine market value.

Analyze current market trends and economic conditions that may impact the property's value.

Consider any unique features or characteristics of the property that may affect its value.

Income Approach

Calculate the property's potential income based on rental rates and occupancy levels.

Estimate operating expenses and capitalization rates to determine the property's net operating income.

Apply the appropriate capitalization rate to determine the property's value based on its income potential.

Cost Approach

Estimate the cost to replace the property with a similar one.

Consider depreciation factors such as physical deterioration, functional obsolescence, and economic obsolescence.

Calculate the property's value based on its replacement cost minus depreciation.

Sales Comparison Approach

Research recent sales of similar properties in the area.

Adjust the sale prices of comparable properties to account for differences in size, age, condition, and location.

Determine the property's value based on the adjusted sale prices of comparable properties.

Final Valuation

Consider the results of the income, cost, and sales comparison approaches to determine the property's final value.

Prepare a written report detailing the valuation process, methods used, and final value conclusion.

Present the valuation report to the client and address any questions or concerns they may have.

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