Concession Adjustment

Discussion in 'General Appraisal Discussion' started by Tim Stein, Nov 2, 2009.

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  1. Tim Stein

    Tim Stein New Member

    0
    Nov 10, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    Oklahoma
    Thanks for the help!
     
    Last edited: Nov 2, 2009
  2. leelansford

    leelansford Elite Member

    11
    Mar 29, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois
    The lender is correct.

    If you want to receive a brief, but to the point, article on the topic of "concessions", e-mail me at (removing the spaces): Lansford @ ameritech. net

    Discussions here are the AF regarding concessions are becoming a monthly (and, often more frequent) topic of discussion. :)
     
  3. Ken B

    Ken B Elite Member

    3
    Feb 18, 2004
    Professional Status:
    Certified General Appraiser
    State:
    Florida
    I just realized that 15 hasn't been heard from around these parts in a while.

    Or has he?
     
  4. Doug DeMars

    Doug DeMars Senior Member

    0
    Mar 20, 2009
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    15!

    ....where are you?
     
  5. Calvin the Airedale

    Calvin the Airedale Elite Member
    Supporting Member

    0
    Aug 17, 2004
    Professional Status:
    Certified General Appraiser
    State:
    Ohio
    Last time on = 10/11. Last post = 09/26.
     
  6. Michigan CG

    Michigan CG Moderator Staff Member Moderator

    18
    Nov 1, 2006
    Professional Status:
    Certified General Appraiser
    State:
    Michigan
    Forum members are allowed to change their screen name once. No other name changes are allowed. 15 will be 15 forever unless their are extenuating circumstances.

    Some previous forum members have re-registered as General Public and once they identify themselves as appraisers we are taking the effort to get them to correctly register.

    There are just some people we miss in a perverted way....Genteel and others come to mind.
     
  7. PropertyEconomics

    PropertyEconomics Elite Member

    0
    Jun 19, 2007
    Professional Status:
    Certified General Appraiser
    State:
    New Mexico

    And others we miss for their true contributions to this Forum ... Steven Santora comes to mind. :mellow:
     
  8. Elliott

    Elliott Elite Member

    5
    Apr 23, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Oregon
    50% of appraisers adjust for concessions, 50% of appraisers partially or
    don't adjust for concessions, where concession mean the Fannie Mae
    supported 3 to 5% of closing costs being paid by the seller.

    The trick is to figure out which is your peer group.
     
  9. ZZGAMAZZ

    ZZGAMAZZ Senior Member

    0
    Jul 23, 2007
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    If concessions of a given range are typical in a specific market, should an appraiser adjust for concessions by default if unable to determine whether they do or don't exist for a specific comparable, disclosing that rationale?
     
  10. Mike Garrett RAA

    Mike Garrett RAA Elite Member

    1
    Jan 14, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Colorado
    There will never be a concensus on this. Too bad powers to be can't just say..."adjust (deduct) any and all concessions". Why do you suppose they don't?
     
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