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TAF carries out its work through two divisions – the Appraisal Standards Board (ASB) and the Appraiser Qualifications Board (AQB). The latter group sets forth minimum qualifications for appraisal licensure, and its work has been adopted by all states and territories. The ASB maintains USPAP, and issues updates in January of even numbered years.
Property condition assessments (PCAs) (also known as the property condition report, or PCR) are due diligence projects associated with commercial real estate.Commercial property and building inspections are important for clients seeking to know the condition of a property or real estate they may be purchasing, leasing, financing or simply maintaining.
In the United States, mortgage valuations of improved residential properties are generally reported on a standardized form like the Uniform Residential Appraisal Report. [24] Appraisals of more commercial properties (e.g., income-producing, raw land) are often reported in narrative format and completed by a Certified General Appraiser.
In the United States, a vehicle is designated "commercial" when it is titled or registered to a company. This is a broad definition, as commercial vehicles may be fleet vehicles, company cars, or other vehicles used for business. Vehicles that are designed to carry more than 15 passengers are considered a commercial vehicle.
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This is simply the quotient of dividing the annual net operating income (NOI) by the appropriate capitalization rate (CAP rate). For income-producing real estate, the NOI is the net income of the real estate (but not the business interest) plus any interest expense and non-cash items (e.g. -- depreciation) minus a reserve for replacement.
The Appraisal Foundation (TAF) is the United States organization responsible for setting standards for the real estate valuation profession. The organization sets the congressionally authorized standards and qualifications for real estate appraisers, and provides voluntary guidance on recognized valuation methods and techniques for all valuation professionals.
Commercial buildings are buildings that are used for commercial purposes, and include office buildings, warehouses, and retail buildings (e.g. convenience stores, 'big box' stores, and shopping malls). In urban locations, a commercial building may combine functions, such as offices on levels 2–10, with retail on floor 1. When space allocated ...
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