The Last Concession Poll Ever--Multiple Answers Allowed

[Lee Lansford]

...Sellers add concessions to fool the public into believing that the value of the Property is its stated sales price. It's really not! It's the sales price, less the value of the concession.

Dave, assuming (based upon prior messages and for the purpose of being certain that we are all on the same page with this) that your appraisal is being communicated with one of Fannie's forms, please consider the following:

Are you stating that you would arrive at TWO different opinions of Market Value for a Subject property...with the same effective date...based soley upon whether the Subject was:

a) Under a contract of sale with a BIG seller concession to the buyer;

OR

b) NOT under a contract of sale.
??????

Think about it.

Lee Lansford, IFA

 

[Lee Lansford]

Worth repeating again..."what about the case where there is no real estate commission"? Should be be deducting those too?

There is always a "cost" of marketing a property; some are just more obvious than others.

 

[ddcarrier]

The question you should ask yourself it "What did the buyer actually pay for the property?" It they received $8,000 back and the sales price was $100,000, then they actually spent $92,000. $92,000 was what was taken out of their pocket for the property.