Appraisals for Financial Institutions

WestRock’s real estate appraisal reports are based on several factors. Each appraisal draws on these three approaches, which provide the foundation for our quantitative analysis: 

1. Market Approach: A method that values an asset based on comparable property sales. Also known as the sales comparison approach, it tracks recently completed sales of similar properties to determine a property’s current market appeal. 
2. Cost Approach: A method that values a property based on the replacement cost of constructing a similar property, minus depreciation, plus the site’s value. 
3. Discounted Cash Flow: A method that estimates the value of an investment based on potential cash flows. Initial and annual costs, estimated income, and any holding periods are all variables used in this method. 

Reliable market analysis is crucial for a trustworthy real estate appraisal. Each of our commercial appraisal reports is meticulously prepared with your property in mind. WestRock delivers on accuracy and credibility using factors like: 

• Area Analysis: Analysis of relevant market trends, demographic statistics, and economic indicators. 
• Zoning Analysis: An in-depth evaluation of the property’s compliance with relevant zoning standards. 

• Improvements Analysis: Comprehensive descriptions, sketches and photographs of the site and building improvements. 

• Real Estate Taxes Statistics: This feature analyzes historical and current taxes to project accurate real estate taxes for the subject property. 

• Comparable Sales: Detailed photos, descriptions and analysis of comparable properties. A sales comparison grid depicts all data and any necessary adjustments. 

• Income Analysis: Evaluation of historical data to determine a property’s projected income and its requisite expenses.  

• Complete itemization of all income sources. 
• Operating Expenses: We provide an operating expense history and anticipate your expenses based on our extensive collection of comparable expense data. 
• Capitalization Rate Development: Investor surveys, closed commercial sales and current commercial mortgage terms support each capitalization rate.

When choosing an appraisal service that’s right for you, it is imperative that they have a team of professionals with experience, education, capability, and integrity. We emphasize these values in our recruitment and training, ensuring that every appraisal report generated by a member of our team can serve your clients’ interests properly. 

The coveted MAI designation is held by appraisers who have invested substantial time in training and have extensive experience valuing every type of commercial property. MAI appraisers go above and beyond to advise clients on sound real estate investment decisions, and Steve Romer is no different. WestRock’s founder holds the MAI designation, reflecting the rigorous education, examinations and experience the Appraisal Institute requires. He instills that experience into every aspect of WestRock’s appraisal operations. 

An appraisal service that boasts even one MAI designated appraiser in their ranks demonstrates credibility, knowledge, and experience. Let WestRock use these skills to your investment advantage. 

Prices vary on specific real estate appraisal reports because of many factors like: 

• Property type
• Size and complexity of property
• Property location and travel distance involved
• Ease of obtaining data in the relevant market area
• Scope of work
• Reporting format
• Turnaround time