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LIVE Two Part Webinar: How To Handle and Adjust For Concessions
Presented by: Richard Hagar, SRA
(Purchase the complete series and save.)
Many purchases include concessions but do you know when and how they should be adjusted for in the sales comparison grid in order to provide a defensible report? Are you clear about how to prove/support what the adjustment should be? If you find handling concessions confusing, you are not alone. It’s one of the top questions asked of presenter Richard Hagar, SRA.
Working RE/OREP’s NEW Two-Part Webinar- Defining Market Value and How to Adjust for Concessions, is presented by Richard Hagar, SRA, noted educator and owner of a busy appraisal office. The webinar shows you how to avoid serious trouble by understanding the federal definition of concessions and how to support your adjustments for them.
In today’s difficult environment, it’s more important than ever to learn from the experts about how to stay safe and successful- especially those who are busy appraising and who face the same difficult issues you do on a daily basis.
In Part 1: Defining Market Value and Understanding the Impact of Concessions, Hagar explains why Sales Price and “Market Value” are not always the same and how the federal definition of concessions may differ from what borrowers, agents and lenders believe. “Market Value” is the value appraisers are required to use when appraising property for a federally regulated transaction. The definition is included in every appraisal for a lending institution and failure to appraise at this defined value can result in the creation of a misleading appraisal, an appraiser losing his or her license, and fraudulent loans being approved by lenders. In this webinar, Hagar shows appraisers how “concessions” impact sales prices and market value and how to properly handle them in every appraisal.
In Part 2: Determining and Making the Adjustments for Concessions, Hagar shows appraisers how to measure the impact of concessions on sales prices and “market value.” How can you determine if a comparable has concessions? Hagar shows you how to identify comparables with concessions and walks you through how to use regression analysis, match paired sales analysis, the cost approach, the income approach and more to identify and adjust for concessions in both the subject property and comparables.
Hagar’s live 4-hour course is condensed into two convenient webinars (three hours total). Hagar uses easy-to-understand examples and breaks down federal definitions and standards for both Concessions and Market Value.
This two-part webinar will include:
- The federal definition and requirements of Market Value
- How layered transactions impact sales prices
- Concessions and their impact on value
- How to measure impact and adjust and report conclusions
- Adjusting, reporting, and final reconciliation
Part 1: Defining Market Value and Understanding the Impact of Concessions
(Tuesday, June 25, 10-11:30 a.m. PST)
Part 2: Determining and Making the Adjustments for Concessions
(Tuesday, July 2, 10-11:30 a.m. PST)
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by James Mankin
Hi: I am one of those appraisers who told Mr. Hagar he needs to put on this class on concessions since everyone does it differently. I would sign up for this one one condition: Is this certified for Hours toward my licence? JM-