Property Appraisal FAQ

Answers to common questions about property appraisals for outdoor hospitality

Last Updated: December 1, 2025

Common Questions About Property Appraisals

Property appraisals are essential for outdoor hospitality property transactions and financing, but many people have questions about the process and requirements. Here are answers to the most frequently asked questions about appraisals.

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Frequently Asked Questions

What is a property appraisal?

A property appraisal is an unbiased professional opinion of a property's value, typically required for financing, transactions, or investment analysis.

Why do I need an appraisal?

Appraisals are required for financing, buying/selling properties, refinancing, and investment analysis. Lenders require them to determine loan amounts.

How long does an appraisal take?

Most appraisals take 2-4 weeks to complete, though timelines vary based on property complexity and data availability.

What's the difference between an appraisal and a feasibility study?

An appraisal determines the current value of an existing property, while a feasibility study evaluates the viability of a proposed project. Learn more in our complete guide.

What appraisal methods are used?

Appraisers typically use three approaches: income approach (based on income potential), sales comparison approach (comparable sales), and cost approach (replacement cost).

Will banks accept Sage's appraisals?

Yes, Sage Outdoor Advisory's appraisals are bank-approved and trusted by financial institutions nationwide for outdoor hospitality property financing.

Why do I need a specialized appraiser for outdoor hospitality?

Outdoor hospitality properties have unique characteristics that require specialized expertise to ensure accurate valuations. Standard appraisers may not understand the specific market dynamics and revenue models.

What's included in an appraisal report?

A comprehensive appraisal report includes property description, market analysis, income analysis (for income-producing properties), valuation using applicable approaches, and supporting documentation.

Can I use the same appraiser my lender recommends?

Lenders often have approved appraiser lists. Sage Outdoor Advisory is recognized by many lenders nationwide for outdoor hospitality appraisals. Contact us to discuss your lender's requirements.

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