Ruling turns up heat on CMBS appraisers
Shlomo Chopp, Managing Partner at Case Property Services, a distressed debt advisory firm in New York, said paltry fees might even be part of the problem.
"Appraisals are too much of a check-the-box process," he said. "If you go down to the nitty gritty of why does one building get better rents than another, there is a lot of work and time that goes into it."