If you have never had a commercial real estate appraisal, the concept can seem pretty foreign to you. I have gone through it more than once, and I can honestly say that some parts of it are still confusing to me. Here are a couple of things I believe you should know before you get started.
The first thing you must remember is that the inspection is only a small part of the process. This is the beginning, and there are several more steps before you will be at the conclusion. There are reports that have to be written and research that has to be done. In some cases, it can take a few weeks to complete. Check with http://www.ctcappraisals.com/ for more info.
Never try to be dishonest with an appraiser. Most of the time when they ask you questions about a property, they already know what the answer is.
Being dishonest will not help you gain them as an ally, which you would desperately need if there was some reason that you would have to head to court with someone concerning the property. While the process if very involved, understanding these points will help you greatly along the way.
