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concessions

Discussion in 'Urgent - Help Needed' started by rimrock, Apr 26, 2012.

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  1. rimrock

    rimrock New Member

    0
    Mar 2, 2012
    Professional Status:
    Certified Residential Appraiser
    State:
    Texas
    If the sale contract calls for seller to pay an amount not to exceed $5,000 for buyers expenses, but the actual amount they ended up paying was only $3500, which figure do you base your concession on?
     
  2. Proactive

    Proactive Senior Member

    21
    Jan 15, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Washington
    If you are referring to a comparable sale, I base my adjustment on the information provided by the parties involved in the transaction. Usually that is the actual amount paid, since I am inquiring after the sale.

    Of course, if you are referring to the subject, no adjustment is made at all.
     
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