The concession had no affect on value. (The sales price was analyzed, not net to seller.
All these Appraisers talk about concessions all the time and how they adjust for them. It’s wrong. Talk about being inconsistent. They appraise net to seller. That’s fine. But when you do that, explain to me why you left our net to buyer?
Net to buyer = house- fees- funding fees- time -relocation etc.
Net to seller = fees -time.
Why have Appraisers that adjust for concession never reconciled those figures? Because they aren’t very bright and just go by “the book”
All those comps you are adjusting with $3,000 concessions....what was the price net to buyer? What was the price net to seller? They were not the same, that’s for sure....yet you didn’t reconcile that fact.
Do everything on a relative basis. You can not determine net-net to buyer/seller. So explain that and just go by sales price.
All these Appraisers talk about concessions all the time and how they adjust for them. It’s wrong. Talk about being inconsistent. They appraise net to seller. That’s fine. But when you do that, explain to me why you left our net to buyer?
Net to buyer = house- fees- funding fees- time -relocation etc.
Net to seller = fees -time.
Why have Appraisers that adjust for concession never reconciled those figures? Because they aren’t very bright and just go by “the book”
All those comps you are adjusting with $3,000 concessions....what was the price net to buyer? What was the price net to seller? They were not the same, that’s for sure....yet you didn’t reconcile that fact.
Do everything on a relative basis. You can not determine net-net to buyer/seller. So explain that and just go by sales price.
