Understanding HC's and EA's

[ZZGAMAZZ]

Seeking Continuing Education on HC's and EA's.

I'm aware of the respective definitions and pat USPAP explanation and don't need anybody to cut/paste into a response.

Regards.

 

[glenn walker]

Seeking Continuing Education on HC's and EA's.

I'm aware of the respective definitions and pat USPAP explanation and don't need anybody to cut/paste into a response.

Regards.

Go to google and look up real estate Hypothetical V Extraordinary assumptions , there are many links to different authors discussing it , including AI and other organizations.

 

[Mr Rex]

Sorry to cut and paste, but here is a good article: http://www.appraisalinstitute.org/assets/1/29/Guide_Note_15.pdf

 

[Terrel L. Shields]

The definitions are plain. Explanation is unnecessary.

 

[glenn walker]

Commercial appraisers tend to use extraordinary assumptions more then residential appraisers , and frankly I am willing to bet that at least 30% plus have a difficult time with them. but An extraordinary assumption is an assumption which if found to be false could alter the resulting opinion or conclusion. A hypothetical condition is an assumption made contrary to fact, but which is assumed for the purpose of discussion, analysis, or formulation of opinions. Over the years I have, found its best to not make any assumptions if you don't even know what they are : )

 

[Elliott]

When I do an appraisal from plans and specs I use a HC and the form provides a box to check. Other than that, I don't use HCs. I don't take any assignments that require a EA, so I completely avoid them. That's how I understand them.

 

[Tom D]

the last USPAP class i think, the one advertised in the r.e. appraising magazine continuing ed classes discussed them. it had a pretty good description on those 2. it was not mckissock. but i don't think you will find enough hours on just those 2 items. maybe someone can remember better than me. it was the best lesson with examples i ever heard. you can go and look at the topics in each class before signing up. funny thing is that the longer you don't do one, they start to blend in together again.

 

[alebrewer]

I get what you're saying - and agree - CE classes on the distinctions, examples, etc. of the two would be GREAT. Not sure if those exist or not. Did a quick search on Columbia Institutes offerings and didn't find anything. Nothing on AI's offering list either...

 

[glenn walker]

Can the appraiser make both a Hypothetical & Extraordinary Assumption , stating that either one may end up being the correct one ?

 

[alebrewer]

Can the appraiser make both a Hypothetical & Extraordinary Assumption , stating that either one may end up being the correct one ?

I invoke the HC that my EA is correct. Or would it be the other way? I invoke an EA based on my HC...