John W. VanSanten, MAI and Christopher P. Casey, CPA, CFA, ASA  answer the question: "When reviewing a commercial real estate appraisal report, which assumptions, methodologies, and underlying data should be critically examined?"

By presenting key questions to ask of the appraiser, this presentation will provide a guide on how to assess the quality and reliability of commercial real estate appraisals. 

Some of the key areas of focus include the following:

• Was the highest and best use of the property properly considered and assessed? 
• Did the appraiser apply a direct capitalization or a discounted cash flow method, and in what circumstances should each of them be applied? 
• Were capitalization or discount rates properly determined? 
• What determines a property's consideration and/or use as a comparable for the market approach?
• In reconciling values from different methods, under which circumstances should greater reliance be placed upon certain methods?