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Commercial Real Estate Appraisal Fundamentals

Learn about the basic techniques and methods of commercial real estate appraisals. Ever heard the war story where an attorney receives an appraisal report at the eleventh hour, only to find that some critical element of the opinion does not match the particulars of his case? Or the appraiser's war story where they were provided with an effective date of value, and later had to redo the appraisal on a holiday weekend because the client realized that he had specified the wrong date? When appraisers and their clients do not share an accurate understanding of the elements of the assignment, the opportunity for negative outcomes increases. This topic will provide a brief overview of commercial real estate fundamentals, and the basic techniques and methods available to appraisers. This basic information will then be applied to the many variables inherent in the appraisal contracting process. With an understanding of these variables, you will learn to accurately convey the appraisal problem and reach solid agreement with the appraiser on the assignment conditions necessary for a relevant and credible appraisal opinion. Use of the techniques presented in this material will help you save time and money by avoiding common mistakes which may occur when ordering an appraisal.


Runtime: 90 minutes
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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Understanding the Subject Property

  • Commercial Land
  • Improved Commercial Properties

Appraisal Basics for Commercial Real Estate

  • The Three Approaches to Value
  • Interest to Be Appraised
  • Type of Value to Be Appraised
  • Effective Date of Value
  • Reporting Options

Defining the Scope of Work

  • What Is the Appraisal Problem to Be Solved?
  • Assignment Conditions
  • Additional Information Which May Be Required

Strategies for Successfully Contracting for Valuation Services

  • Gathering the Data Necessary to Identify the Problem to Be Solved
  • Matching the Appraiser to the Assignment
  • Accurately Defining the Appraisal Problem
  • Agreeing Upon the Appropriate Scope of Work
  • Agreeing Upon the Level of Detail Required
  • Phasing the Assignment
  • Preparing a Well-Written Engagement Agreement
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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Shawn E. Wilson, MAI

Shawn E. Wilson, MAI

Compass Real Estate Consulting, Inc.

  • Owner of Compass Real Estate Consulting, Inc.
  • More than 29 years of practice in eminent domain and litigation-related experience
  • Frequent speaker and has written numerous publications and presentations
  • Presented testimony as an expert witness in numerous jurisdictions
  • Member of the International Right-of-Way association, and is a past president of the Association of Eminent Domain Professionals
  • Can be contacted at www.shawnwilson.com
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Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 399126
Published 2017
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