Corporate Transfer Appraisals
Corporate transfers are a portion of the real estate listing market that require an accurate evaluation of the subject property so that the corporation involved will not lose money on the marketing process and the subsequent sale. I have over twenty years of experience in dealing with this type of appraisal.
Transferees often have an opportunity to list their property prior to the corporate employer taking over the process. It is common for the transferee homeowner to over price their property, since they know that they are getting a buyout from their employer. This early over priced listing can have a detrimental impact on the eventual sale price.
To accurately evaluate a property it is my procedure to use from four to six comparable sales instead of the customary and minimum of three sales, given that the market provides the useful greater number. This appraisal requires, also, a thorough picture taking of the interior and exterior of the property to allow the client to get a good and complete view of the subject.
This appraisal will result in an anticipated sales price that can be generated within a commonly required 120 day marketing window. This requirement sometimes requires a forecasting element dependent on seasonal influences and/or local market conditions such as an over supply or under supply of houses.
Most corporate clients require an appraiser to be accurate within 4% to 5% of the eventual sale price. Should the employed appraiser regularly give results outside of this range, (s)he is not employed in the future. So, I make every effort to provide an accurate evaluation.