Immediate results on most IVR and VALPRO reports with online ordering and electronic delivery
Cost effective
Nationwide market coverage
Full coverage errors and omissions insurance
Experienced and knowledgeable project managers
Indexed Value Report (IVR):
Providing property values by applying an index to the assessed market or full value of the subject property, the indexes used are formulated by analyzing the relationship between assessed value and sale price. The IVR is determined by utilizing formulations with the assessed value of a property as the base, then adjusting it to the current market value by applying our Index, or coefficient. This formulates the indexed value of commercial property at a fraction of the cost traditional appraisals. The description of the property may also be included in the report for an additional fee. Our LOT (life of term) IVR is an excellent tool for lenders to annually monitor the performance and security of loan portfolios over a five year period.
VALPRO:
VALPRO's market determinations are generated by algorithms that take into consideration a wealth of information regarding the real property including sales prices and trends in the surrounding areas, property type, and building characteristics, among other factors. The IVR and VALPRO work as a cascade, providing the client with the most reliable value opinion. Both IVR and VALPRO feature a "confidence score" which provides further guidance to the lender on the reliability of the market value estimated by these commercial AVMs.
Commercial Evaluation Report (CER):
The CER is an evaluation of the subject property that includes a site inspection, photos of the improvements and comments on the neighborhood. Analysts use large commercial property databases to search for comparable sales. The analysts select the most current sales and compare them to the subject property using qualitative analysis to form an opinion of market value. The CER has a standard delivery time of 8 business days following the date of the order.
Enhanced Index Value Report (EIVR):
To complete the EIVR, analysts select three comparable sales within the subject property's market area. The analysts then apply the arithmetic mean of the price per foot of the three comparables to the building area of the subject property to provide an indication of market value. Neither the IVR nor EIVR includes inspections of the subject property. The EIVR is delivered within 48 hours.
Commercial Improvement Value Report (CIVR):
The CIVR provides a separate value for land and improvements. The CIVR uses the IVR methodology by applying coefficients to the assessor's improvement value and the assessor's land value based on the property type and the county of the subject property. This provides a separate Indexed Value for the improvement value and the land value. The CIVR is delivered within 24 hours.
Commercial Property Site Inspection (CPSI):
The CPSI is completed by an Everest Land network of inspectors and provides clients with three photos of the subject property including a street scene. This report assesses the condition of the exterior improvements and provides general comments on the location and neighborhood. The CPSI reports are completed within five business days. Interior inspections are also available.
Enhanced Commercial Evaluation Report (ECER):
An ECR includes everything in the standard CER as well as the modified income approach to value. The income approach includes an analysis of the operating history of the property and, accepting current rents as market, provides an opinion of net income. The delivery time for the ECER is nine business days from order placement.
Range of Value (ROV):
The ROV is a hybrid evaluation providing two separately determined opinions of value. The first value opinion is produced by the traditional IVR evaluation. The second evaluation utilizes the Enhanced IVR (EIVR) method of applying the arithmetic mean from three comparable sales prices per square foot (price per unit for apartment projects) to a building area of the subject property. The range of value from this evaluation product can assist lenders in better underwriting their loans. The evaluation is ordered and delivered online within four business days.