The One Page That Can Change Your Appraisal

by Trevor Calton

A single number in an appraiser's report can kill your refinance. But what if you could influence that number before the report is even written?

In this volatile market, receiving a low appraisal can feel like a death sentence for a deal. It’s a moment of pure powerlessness for an owner. You know your property is a top-tier asset, but a single report based on generic market data can erase millions in value and force you into a painful cash-in refinance or a discounted sale.

The common instinct is to fight the appraiser after the fact. This is almost always a losing battle.

The professional strategy is to proactively arm the appraiser with a better story from the very beginning.

The Solution: The One-Page Appraisal Brief

The One-Page Appraisal Brief is a concise, professional document you provide to the lender to be included with the appraisal order. It’s not an argument; it’s a clear, data-driven narrative that helps the appraiser understand your asset's unique strengths and accurately assess its value.

This isn't just a theory. It's a method I learned and perfected in the trenches.

A Lesson from Analyzing $3 Billion in Distressed Assets

Early in my career, I analyzed thousands of non-performing commercial loans and distressed properties doing acquisitions for a REIT. We were in a constant, competitive bidding process for these assets.

The secret to winning the right bids wasn't just running the numbers; it was digging deep into the story of each asset to understand the why behind its distress and uncovering its true, stabilized potential. We learned that the initial valuation was often just the beginning of the story, not the end. That experience taught me that to get the right value, you must control the narrative with clear, undeniable data.

What to Include in Your One-Page Brief

•  Stabilized NOI: Show trailing numbers, but also a clear pro-forma with documented "add-backs" for any non-recurring expenses.
• Proof of One-Time Items: Attach invoices or approvals for any major repairs or one-time legal fees you've added back.
• Rent Roll Analysis: Highlight occupancy trends, concessions, and near-term expirations.
• Recent Capital Expenditures: Detail any recent cap-ex (new roofs, systems, etc.) that lowers the property's risk profile.
• Curated Comp Set: Provide 3-5 comparable sales that you believe are a better match for your asset than the market average and briefly explain why.
• Relevant Market Notes: Include any specific local supply or demand facts that support your valuation.

Your Takeaway

Stop leaving your valuation to chance. By proactively arming your appraiser with a professional brief, you are not telling them how to do their job. You are giving them the precise data they need to do their job accurately and justify the value you've worked hard to create.

Your Next Step: Get the Toolkit

Getting your story and your numbers straight is the most important step. My Lender-Ready Diagnostic Kit is a free toolkit with checklists and templates designed to help you assemble all the data you need for your appraisal brief.

Download the Free Toolkit Now

Trevor Calton is a 25-year veteran of the commercial real estate industry who has executed over $3B in acquisitions and directed asset management for portfolios exceeding 6,000 units. As the founder of the Real Estate Finance Academy and Evergreen Capital Advisors, he now serves as a trusted strategic partner for owners and operators navigating high-stakes capital decisions.