Real Estate Appraisal Reports 2024: What Lawyers Need to Know
Course Date: February 1, 2024
Total: 5h 18min
Total Ethics: 1h
Real Estate Appraisal Reports 2024: What Lawyers Need to Know
Course Date: February 1, 2024
Total: 5h 18min
Total Ethics: 1h
Welcome and Land Acknowledgement (9:00 – 9:05)
Teresa Sheward — Program Lawyer, CLEBC, Vancouver
Steven G. Coull — Forensic Appraisal Reviewer, Strategic International Appraisement Services, Parksville
Steven G. Coull — Forensic Appraisal Reviewer, Strategic International Appraisement Services, Parksville
Course Introduction (9:05 – 10:30)
Basic Rules
- appraisal in general
- final value vs. how the appraiser actually got there
- appraiser standards
- appraiser designations and the big myth
- the big problems with appraisal reports today
The Age/Life Concept
- typical life expectancy/economic life
- effective age vs. actual age
- the age/life formula and reviewing
- where to look
BREAK (10:30 - 10:45)
Reviewing the Cost Approach (10:45 – 11:45)
- depreciation
- cost approach mechanics
- what goes where in the cost section
Land Valuation
Sales Comparison Approach
- sales comparison mechanics
- abstraction
Questions & Discussion (11:45 – 12:00)
LUNCH (12:00 – 1:00)
Reviewing the Sales Comparison Approach (1:00 – 2:30)
- how the sales comparison method works
- condition adjustments
- GLA adjustments
- where to look
BREAK (2:30 – 2:45)
Reviewing Condo Appraisal Reports (2:45 – 3:45)
- the simple review methods
- where to look
Reviewing Commercial Narrative Appraisal Reports
- the most common mistakes
- highest and best use analysis
- sales comparison the income way
- reviewing income statements
- the IRV formula
- reviewing capitalization rates
Questions & Discussion (3:45 – 4:00)
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