Commercial Evaluation Reports
An evaluation estimates a property's market value based on a more limited scope than an appraisal. The federal regulations do not require evaluations to be completed by an appraiser or to comply with USPAP; however, the use of an evaluation is restricted to a specific set of loan transactions.
Use of Evaluations
There are primarily three commercial loan transactions in which an evaluation is sufficient for collateral valuation
1. Loans with a transaction value of $500,000 or less
2. Loan renewals with no advancement of new funds beyond typical closing costs
3. Loan renewals with new funds provided there has been no obvious and material change in market or physical conditions to threaten collateral value
Although a loan transaction may qualify for an evaluation under the above conditions, loans with additional risk factors may be better served with an appraisal. Some of these factors include but are not limited to:
- Atypical properties
- Loans in which the combination of the existing and new funds would exceed LTV limits
- Properties outside the traditional market for the institution
Staff with Banking Services can assist in determining if an evaluation is appropriate.
Evaluations from B.G. Jones & Company's Banking Services
With the resources of the appraisal division available, Banking Services evaluations are unparralled. In combination with public records information, our evaluators have access to a database of verified sales, Marshall Swift services and a variety of income data not available through public records. Each evaluator is mentored by an appraisal staff member giving a broader range of knowledge in order to ensure appropriate valuation methodology.
Each evaluation meets the standards established by the 2010 Interagency Appraisal and Evaluation Guidelines. An exterior street-view inspection, market trend analysis and supporting value documentation are standard in our evaluation reports.
Pricing
Affordable and customizable, several options are available. Perferred pricing is available to clients for which we also handle appraisal reports.
Appraisal client - $400 per report
Non-appraisal client - $500 per report
Exterior Street-view inspection - Included
Interior Walk-Through - add $50 to report fee
Delivery Time
Based on volume with estimated turn times updated daily. Please check the evaluation order form for our current turn time.
Contact Stephanie York at extension 208 for further details and information
Use of Evaluations
There are primarily three commercial loan transactions in which an evaluation is sufficient for collateral valuation
1. Loans with a transaction value of $500,000 or less
2. Loan renewals with no advancement of new funds beyond typical closing costs
3. Loan renewals with new funds provided there has been no obvious and material change in market or physical conditions to threaten collateral value
Although a loan transaction may qualify for an evaluation under the above conditions, loans with additional risk factors may be better served with an appraisal. Some of these factors include but are not limited to:
- Atypical properties
- Loans in which the combination of the existing and new funds would exceed LTV limits
- Properties outside the traditional market for the institution
Staff with Banking Services can assist in determining if an evaluation is appropriate.
Evaluations from B.G. Jones & Company's Banking Services
With the resources of the appraisal division available, Banking Services evaluations are unparralled. In combination with public records information, our evaluators have access to a database of verified sales, Marshall Swift services and a variety of income data not available through public records. Each evaluator is mentored by an appraisal staff member giving a broader range of knowledge in order to ensure appropriate valuation methodology.
Each evaluation meets the standards established by the 2010 Interagency Appraisal and Evaluation Guidelines. An exterior street-view inspection, market trend analysis and supporting value documentation are standard in our evaluation reports.
Pricing
Affordable and customizable, several options are available. Perferred pricing is available to clients for which we also handle appraisal reports.
Appraisal client - $400 per report
Non-appraisal client - $500 per report
Exterior Street-view inspection - Included
Interior Walk-Through - add $50 to report fee
Delivery Time
Based on volume with estimated turn times updated daily. Please check the evaluation order form for our current turn time.
Contact Stephanie York at extension 208 for further details and information