The ASB has released three questions in their March Q & A. Many residential appraisers will find the first question a timely issue as it relates to sales and financing concessions.
The next two questions are reprints from the Foundations 2006 frequently asked questions publication. These two questions discuss analyzing and reporting prior listings for the subject property.
Sales or Financing Concessions: The real estate market I appraise in has slowed down over the last 12 to 18 months, and it is now extremely common to see seller concessions as part of a purchase transaction. What are the USPAP requirements regarding proper treatment of sales/financing concessions?
Click here to read the ASB March 2007 answer to this question! - Thanks to ICAP
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