Commercial Appraisal Services

The State of Maryland Department of Housing and Community Development is seeking bids for commercial appraisal services to support the State's business development, lending, and economic development programs. The successful bidder will provide independent, unbiased, and USPAP-compliant appraisals to determine the market value of properties associated with State-funded or State-assisted projects. The contract will be for a three-year base period with no option periods. The Department intends to make up to five awards from this IFB. Key responsibilities of the contractor include: • Providing appraisal reports based on the requirements and guidelines of the current Uniform Standards of Professional Appraisal Practice (USPAP) • Employing the three traditional approaches to value: the sales comparison approach, the income approach, and the cost approach • Including in the appraisal report an "as is" valuation of the subject's land • Providing a thorough market analysis to support the estimates of income, expenses, and vacancy rates used in the income approach • Certifying the appraisal accuracy and compliance with USPAP by signing the completed appraisal report prior to delivery to the Department • Submitting three originals of the signed appraisal report to the Department's Contract Monitor within thirty to sixty days of assignment • Ensuring that the Principal Appraiser or designee is available for consultation and attendance at meetings with Department staff as necessary