Q?How much does a marina appraisal cost?

Marina appraisal fees are variable depending upon property size and type of marina.  Of course, the use of the appraisal also affects pricing with court-related appraisals commanding a higher price due to the higher level of detail and due diligence on our part.  Marina appraisal fees are quoted on a per job basis.  Due to appraisal standards of professional practice, appraisal fees cannot be contingent upon any outcome.  Click here to email us a description of your marina and your situation.

If you would like to find out what type of appraisal is appropriate for your situation and how much it costs, call us.  We’ll be happy to quote you a fee.

Q?How long does it take to complete a marina appraisal?

Marina appraisal delivery times typically range from three to eight weeks, depending on the variables above.  Verifying the data and obtaining cap rates is the largest variable that affects turnaround times.  During off-season in many parts of the country, marinas are closed, so several weeks are usually necessary to track down the right parties to verify the data and obtain key financial information.  Shorter delivery times are possible (except for litigation), but they command a price premium.

Q?What’s in a marina appraisal?

A marina appraisal:

  1. Provides the assignment parameters
  2. Provides an overview of the area, community and neighborhood
  3. Provides a detailed site and building description
  4. Summarizes a zoning analysis
  5. Presents a highest and best use analysis
  6. Provides an in-depth discussion of each approach to value used
  7. Presents one to three approaches to value
  8. Reconciles those values by selecting the most appropriate value or values from the different approaches used.

There is no such thing as a marina appraisal form, so all reports are narrative appraisals.  The appraisal report ranges in size from 40 to over 100 pages depending on the complexity of the marina, the amount of data that is available, and the amount of market investigation necessary to solve the appraisal problem.

Q?Do you appraise properties in areas you don’t hold a license?

We can appraise properties anywhere in the United States.  Depending on the type of assignment, we may or may not obtain a temporary appraisal license.  There is no such thing as a nationwide appraisal license.

Q?Why should I hire MarinaAppraisal.com?
  • Experience – John Simpson, MAI has decades of experience appraising marinas, he knows how to handle the business elements, and he knows the nuances.
  • Knowledge – with decades of experience at John’s fingertips, he can provide the knowledge and insight you need for a high quality value determination.
  • Quality Reports – John is the foremost marina expert in the country and the only marina appraisal book author.   He can develop marina cap rates and market support that a general purpose appraiser cannot.  The reports are more highly detailed and better explained than appraisals prepared by a general purpose appraiser, which is the benefit of hiring a highly published author with extensive marina industry knowledge.  The quality of the report reflects his knowledge.
  • Professional Designations – John holds the MAI designation from the Appraisal Institute.  Click here for his qualifications.  Click here for his resume.
  • Competitive Fees and Delivery times – call our competition for their estimates; we’re certain you’ll be back!  To get an idea of our typical turnaround times, check out our recent marina valuation portfolio.
Q?Can I reuse the appraisal for multiple purposes?

Technically, if you want to use our appraisal for more than one purpose, you need our permission.  Many financial institutions will not accept an appraisal performed for one of their competitors unless the first lender provides a written release.  Note that we are not required to testify unless prior arrangements have been made.

Q?How does an estate appraisal work?

Estate appraisals are performed in a manner almost identical to any other appraisal assignment.  The two primary differences are the date of the appraisal, which is the date of death instead of the current date, and the fact that these appraisals are more frequently involved in litigation.

Q?Why should I get a pre-listing appraisal?

Do you want to put your marina on the market at too low a price, giving someone a bargain, or put it on the market at too high a price and turn away potential buyers?  That’s the purpose of a pre-listing appraisal.  Although commercial real estate agents are familiar with the market and have a good feel for value, their job is selling, not determining value.  They may not be qualified to determine the value of a marina, which is a special purpose property and an operating business.

A pre-listing appraisal is a cheap form of insurance.   Besides, you can often use the appraisal as leverage to obtain a higher offer or to get a tax appeal reduction, making it more affordable for a potential buyer.

Q?How can I order an appraisal?

You can call us or email us.