Seller credit for closing costs

[Fernando]

I haven't encountered Seller credit in a sellers' market in past years.
Is a say $10,000 Seller credit considered a concession in 1004 form (1% of purchase price)? And I forgot, do I adjust that in the sales comparison approach grid?

 

[sputnam]

Any Seller concessions in the subject transaction have no bearing on your opinion of market value. If there are Seller concessions to any or all of the comparables, you extract the market reaction to guide your adjustments.

 

[glenn walker]

30 Years in Business ?

 

[Charles West]

30 Years in Business ?

All BS

 

[glenn walker]

Needs lot's of attention, makes up threads and daily scenarios LMAO

 

[Dublin ohio]

Wasn't this covered in appraisal 101

 

[Dublin ohio]

10K on a 1M purchase is little more than background noise

 

[Fernando]

If seller concessions are common in market, I see no reason for adjustments.
If few concessions which haven't happened in past several years and I see it on my subject's purchase then I need to make an adjustment.
Each market is different which all appraisers should know. Fernando 101.

 

[Dublin ohio]

If few concessions which haven't happened in past several years and I see it on my subject's purchase then I need to make an adjustment.

Just turn your license in now and save the state the trouble.

 

[Fernando]

Just turn your license in now and save the state the trouble.

Then I will spend more time in AF and teach youngings Fernando's way of appraising.