Commercial Land question Indio, CA

[Brad Rondeau]

Hi, I've invested in residential properties but not Commercial Land.  My mom inherited 8.68 acres right off 10 fwy in Indio CA (Riverside county) years ago.  I don't know all the details - she sold the property 10 years ago a it's peak price to some savvy real-estate investors that seem to be the commercial experts in that area.  Unfortunately see financed the sale and is receiving payments.  Around 2011 buyers were going to default and mom had to re-do the deal in favor of the buyers or they would have defaulted.  Last year they asked for more concessions and mom extended loan another year and reduced interest rate.  But made buyers sign a quitclaim deed that says if they don't pay the remaining $645,000 by 5/15/16 they have defaulted and property comes back to mom.  As the date is approaching the just emailed that they could get enough cash to settle this today with a cash payment of $500,000.  They have already improved the property by getting utilities in the street etc.  Mom doesn't want to hassle with the property and is inclined to take the lower amount again.  

I see the property is currently listed for 1.3 million.  I don't know the area and want to get an appraisal.  I'm told that the buyers (a real estate development company) do most of the commercial appraisals in that area.  Any ideal where I would go to get an unbiased commercial land appraisal?  I don't want to find a firm in the area and find out they just appraised there own property - and gave me a bogus price.  Any other thoughts on this deal would be appreciated.