M Shapiro Real Estate Group| Commercial Real Estate, Nationwide Property Management Services, Farmington Hills, MI

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PROPERTY ANALYSIS

An in-depth analysis of a troubled asset is essential in negotiating the best deal with the borrower and it directly impacts the decision to take over a title. A traditional property appraisal is easy to order, cost very little and regulators are accustomed to reading them. They can, however, cost you greatly in the long run.

Traditional appraisals are based on a basic comparison of real estate market data, yet for many troubled properties there are no comparable assets. Market volatility in recent years renders any appraisal questionable at best as the basis for a wise business decision. An M. Shapiro Property Analysis goes beyond the scope of a traditional property appraisal to include several additional important factors.

Our unique property analysis is not only more comprehensive and thorough than an appraisal but it is also based upon the principle that we examine each property as if it we were buying it for our own portfolio. By using this principle we analyze every aspect of the property and its real value from the perspective of the buyer. This helps you negotiate the most favorable settlement with your borrower and make the best decision regarding the disposition of the asset.

An M . Shapiro Property Analysis Includes...

  • In-depth on-site inspection
  • Review and analysis of every document pertaining to the property
  • Review of all available title work and exception documents
  • Review of all surveys and site plans; including discussion with the individuals who prepared them
  • Meetings with state and local government agencies to gather more insight to requirements of ownership, development, and eventual sale; contacts may include the mayor, treasurer, assessor, and attorney, code enforcement officials, building and engineering departments, planning and zoning officials,
  • Environmental agencies, road and drain commissioners and other public works departments
  • Confirmation of the school district and its impact on value
  • Thorough examination of the appraisal
  • Verification of taxes and special assessments, and an opinion of the assessed value
  • Meetings with homeowners and condominium associations, as appropriate
  • Other due diligence as determined during the analysis process

 You most likely would not finance a property without complete due diligence. Why would you want to take back, negotiate a settlement or sell a property without the same careful analysis?