Blimpie-Richard D. Williams, MAI, Appraisal Institute,

Posted by Cochise on April 19, 2009 at 15:04:00:

I will gladly pay you Tuesday for a hamburger today." ... Blimpie-Richard D. Williams, MAI, Appraisal Institute,

"Litigation. Where disputes involving restaurants end up in litigation, an appraiser may be engaged as an expert witness. The issues in dispute will determine many aspects of the appraisal report. Examples of litigation include lease disputes, divorce, and foreclosures. Under USPAP, an appraiser “must not perform as an advocate for any party or issue” because if an appraiser is an advocate, market value may not be reflected. Both sides to the dispute will scrutinize these appraisal reports. Frequently, the appraiser will be asked to testify regarding his valuation conclusions, in a deposition or at trial, or both.

Property Tax Challenges. A successful challenge of an assessor’s value may require an appraisal of the restaurant real estate.

While an appraisal for ad valorem tax purposes will consider all three approaches to value, the income approach is likely to be the key approach,

unless the property is very new, in which case the cost approach will increase in relevance. The sales comparison approach will be used as a check on the value reached under the income approach. An essential component of these appraisals is the isolation of the real estate component of the restaurant from the business value, and from the return on and return of personal property. The determination of the appropriate capitalization rate for the real estate is also important."

I will gladly pay you Tuesday for a hamburger today." ... Blimpie-Richard D. Williams, MAI, Appraisal Institute,

• Commercial Appraiser

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• Re: Blimpie-Richard D. Williams, MAI, Appraisal Institute, (url) - Cochise 15:09:29 04/19/09 (0)

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