A CRE Comp is a Commercial Real Estate opinion of value. CRE Comps are put together by qualified and experienced commercial real estate brokers in your marketplace. CRE Comps are sometimes called a Broker’s Price Opinion (BPO) or a Broker Opinion of Value (BOV).
CRE Comps are most often used when a lender or property owner
CRE Comps are used when an accurate and efficiently delivered opinion of value is needed by a lender, property owner, or business owner. CRE Comps are used to freshen up previous appraisals to see if the market conditions have changed substantially from an original loan. The up to date market driven price opinion is the most efficient way to verify a property’s value when comparing it to the remaining loan balance, an equity loan, or a refinance request.
When you need to know a commercial real estate property’s value.
CRE Comps can be obtained from any major market that has a strong commercial brokerage presence. CRE Comp, LLC relies on local market experts for all CRE Comp, LLC reports. Only commercial real estate brokers who are tied into the fabric of a local market can adequately provide a qualified broker price opinion.
CRE Comps are typically 10-20% of the cost of a full commercial real estate appraisal. CRE Comp, LLC will provide you with a simple questionnaire to determine the scope of your CRE Comp needs and will quote a project specific price for each CRE Comp request.
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