Services Offered

Appraisals for

Mortgage/Collateral Evaluation

Appraisals are commonly performed for standard bank loans, as well as foreclosure or collateral evaluation. These appraisals are typically ordered by the lending institution, as required by federal lending guidelines. If not already on the lender's approved appraiser list, bankers can request our detailed qualifications and insurance details for approval.

 

Estate Planning/Estate and Gift Tax Return

Kurschat & Company routinely performs appraisals for estate tax purposes, and the appraisal is often ordered by either the owner or tax planner. We understand the nuisances required specifically for that use and prepare an impartial appraisal that meets the needs of that use.

 

Property Tax Appeal/Assessment

State law requires that real property taxes are based on the property’s True Cash Value. As such, we commonly perform appraisals to assist in settling a dispute over the property’s assessment. Our appraisals have been used in the Michigan Tax Tribunal, and we work for both property owners and assessing officers.

 

Possible Sale/Purchase Decision

Owners and investors often prefer to have an opinion of value developed by someone impartial to a property. We can provide insights, market data and analysis to assist in making a wise decision based on a broad view of the market. Sometimes an appraisal provides that view, other times market studies or other forms of consultation are more appropriate.

 

Dispute Resolution

Appraisals are commonly prepared to assist in resolving a wide variety of disputes over value. Whether for partnership buyouts, exercising an option, divorce, or damages for other disputes, Kurschat & Company is commonly called on to assist owners in the valuation. We provide expert witness testimony as required.

 

Eminent Domain/Condemnation

When a governmental agency takes or condemns someone’s private property for public use, the Constitution of the United States requires that the owner is provided “just compensation,” We have vast experience in doing appraisals for condemnation, including partial takings, total takings, highway easements, drainage easements, temporary easements, water or sewer easements, and other property rights. We do work for a variety of condemning governmental agencies, as well as individuals, and have served as expert witness in a variety of cases.

 

Types of Services

Self-Contained and Summary Appraisal Reports

Most users require either a Summary or Self-Contained Appraisal report, as it includes the detail that most banks require for loan documentation. This type of appraisal will provide the user with valuable insights into the property, as well as a well-defined opinion of value, when needed.

 

Restricted Appraisal Reports

A restricted appraisal is simply a condensed reporting option for an appraisal. This option is often selected as a less expensive option to the summary or self-contained appraisal when the user is only interested in the final value. Appraisal standards require that the scope of work performed in the appraisal is adequate, given its intended use. Appraisal standards allow for the more condensed version of the report, but require that the appraisal must be intended for the client only and not any other users. This reporting option may be preferable for an owner who is considering buying or selling. However, a restricted appraisal is not allowed for some uses, such as estate and gift tax purposes.

 

Appraisal Review

Kurschat & Company can perform a review of another appraiser’s work. The review can be as simple as determining whether the appraisal meets appraisal standards or more detailed to determine the reasonableness of the value.

 

Property Consultation

Sometimes an owner will simply want to discuss options for a property, such as zoning restrictions, possible development, leasing opportunities or possible selling opportunities. We can provide valuable insights using market studies, feasibility analyses, or other consultation services in addition to appraisal services. Property consultation services are usually provided on an hourly basis and are intended to meet a client’s specific needs.