Discussion in 'General Appraisal Discussion' started by Tim Stein, Nov 2, 2009.
Thanks for the help!
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.
I just realized that 15 hasn't been heard from around these parts in a while.
Or has he?
....where are you?
Last time on = 10/11. Last post = 09/26.
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.
And others we miss for their true contributions to this Forum ... Steven Santora comes to mind. :mellow:
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.
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?
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?