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RELIGIOUS FACILITY QUALIFICATIONS
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The appraisal of religious facilities differs from conventional valuation in that most properties are unique in design, use and often location. Therefore the valuation of single purpose, special use properties requires a unique, yet market driven technique of valuation. Aaron & Wright developed several unique methods of valuation that have now been accepted by the Appraisal Institute and were published in “The Appraisal of Religious Facilities”, written by Messrs Aaron and Wright.
Combining over 20 years of valuation experience in religious facilities, Aaron & Wright has the ability to ascertain the intricacies of the facilities and how they interact with the environment they exist in or will exist in. What may appear to the untrained eye as a poor site or a non functional facility, may in fact be a perfect religious facility or environment. On the other hand, many facilities that appear very functional and impressive may in fact be disasters waiting to happen.
Some common areas overlooked in religious facility development include parking ratios, ratios of total building area to seating, adequate restroom capacity and/or “potti pariety” and proper acoustics. These items can hinder any facilities ability to function in the manner in which it was intended.
Religious facilities, unlike almost any other type of property are not developed with a profit incentive, but are designed for a specific user. As such, it is important that the appraiser have the requisite knowledge and experience to determine if the facility being built, purchased, sold or refinanced, is functional relative to the market it exists in.
If the items noted above are questions or issues that you have about a facility you are contemplating purchasing, selling, building or adding on to, please do not hesitate to contact us personally to discuss the issues. We have appraised hundreds of religious facilities throughout the country and look forward to the opportunity to apply what we have learned to your specific situation.
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Questions or to place an order,
Please contact Martin Aaron at 713/942-8980, ext. 127 or e-mail.
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