- Apr 20, 2008
- Professional Status
- Certified Residential Appraiser
Would someone please clear this up between two fighting appraisers! There are 3 comps with a $5,000, a $7,000 and a $15,000 concession. One appraiser puts the exact dollar amounts at the top of the grid. The other averages them and gives all 3 the same. Is either correct? Definition of Market Value clearly states,"Any adjustment should not be calculated on a mechanical dollar for dollar of the concession but the dollar amount of any adjustment should approximate the markets reaction to the concession based on appraisers judgement". So, what is the correct procedure?