CARS USE IN THE LIFE CYCLE OF COMMERCIAL REAL ESTATE
CARS https://appraisal.enrichedrealestate.com
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Process Owner - Owner uses CARS periodically to update commercial values. Broker - Broker to list property for sale. Buyer / Investor - Prospective buyers / investors looking to purchase commercial property. Appraiser - Appraiser uses CARS to complete appraisal or evaluation. Tax Consultant - Buyer / Investor engages tax consultant to manage future real estate tax liability.
CARS Engagement Owner - Owner or their representative completes evaluation to determine possible pricing. Broker - Broker completes evaluation to determine possible pricing. Assembles offering memorandum / package. Buyer / Investor - Buyer / Investor modifies CARS for buyer’s specific underwriting criteria. Submits to broker modified CARS application as buyer / investor’s offer. Appraiser - Appraiser completes appraisal in hours versus weeks. Tax Consultant - Tax Consultant accesses CARS and provides Uniform & Equal and Appraisal for tax protest purposes.
CARS Deliverable Owner - Evaluation, Mark-to-Market Broker - Broker Price Opinion, Purchase Offer for Buyer, Marketing Package, Offering Memorandum Buyer / Investor - Underwriting, Offering Package Appraiser - Market & Feasibility Study, Evaluation, Appraisal, Rent Study Tax Consultant - Uniform and Equal Report, Tax Analysis – New Purchase, Appraisal
CARS Shared With Owner - Owner shares CARS file with one or multiple brokers to determine which broker is going to represent seller. Broker - Broker shares CARS file with multiple buyers / investors. Buyers / Investors modify CARS and submit revised shared files to broker. Buyer / Investor - Buyer / Investor shares modified CARS file with selling broker. Appraiser - Appraiser sends PDF of appraisal and shares CARS file lender’s review appraiser. Tax Consultant - Tax Consultant shares CARS file with owner, who then sends CARS files to property manager, asset manager and portfolio manager.
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