Specialty Appraisal Services
Special purpose property refers to property that is suitable for one type of use or limited use. These properties usually have a unique design, unique layout, special construction materials, or other features that limit the property’s utility for purposes other than the one for which it was built. It can be a building with limited uses and marketability. Examples of special purpose properties include: churches, marinas, kennels, schools and horse properties. The market for properties having such a specialized nature may be limited.
Special purpose property appraisals or specialty appraisals typically have a high level of complexity due the lack of comparable sales with similar potential uses are often considered to be special purpose properties. The available of data for such special purpose properties is also limited. When appraising a marina, the most reliable comparables will be other marinas or properties with the potential of being utilized as a marina. The process of developing this type of appraisal is much different than developing a typical appraisal. There are many value impacting features that would be specific to a marina (ie: # of slips, # of moorings, water depths, etc). Having prior experience valuing any special purpose property is necessary to produce credible results.
Types of Specialty Appraisals that Domus Provides
- Hotels
- Bed & Breakfast Properties
- Marinas
- Kennels
- Horse Properties
- Churches
- Gas Stations
- Condominium Complexes
- Cooperative Complexes
- Large acreage properties
- High end properties
- Sports Complexes
- Shopping Centers
- Planned Subdivisions
- Schools
- Farms
- Golf Courses
- Hospitals
- Car Washes
- Environmental
- Valuation of an Easement
In some cases, the usage of an appraisal may render it a specialty appraisal. Appraisals utilized for conservation easements, eminent domain, and condemnation have special considerations that factor into the valuation. Special purpose property appraisals are needed for a variety of reasons including: probate, estate & trust planning, divorce, tax grievances, tax certiorari, purchases, refinances, and for submission to the Internal Revenue Service (IRS).
If You Need Asset Valuation and Specialty Appraisals, Call Domus!
The senior appraisers at Domus Appraisals can address any questions and concerns you may have about appraising your special purpose property. You can count on Domus Appraisals to provide expert testimony no matter how unique or complex it may be. Rely on the appraisers equipped with the experience, expertise, and knowledge necessary to provide a professional, thorough appraisal of your special purpose property. Call us today at 1-866-939-5979 or fill out a contact form.
