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A102 Basic Appraisal Procedures

April 28, 2014
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Date(s) - 04/28/2014 - 05/01/2014
8:00 am - 5:00 pm

Farm Credit Bank of Texas

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In this four-day course, you will apply the principles and concepts you learned in Basic Appraisal Principles. The course will take you step-by-step through the valuation process including defining the problem, collecting and analyzing data, reaching a final opinion of value, and communicating the appraisal. You will learn about the three approaches to reaching an opinion of value – income capitalization, cost, and sales comparison – and apply them in true-to-life case studies and problems. After examining income capitalization methods and formulas, you will learn how rates and multipliers are derived. Through case studies you will discover the steps and concepts involved in the cost approach – how appraisers estimate the cost of constructing a reproduction of or replacement for an existing structure; the three major components of depreciation and methods for estimating and allocating depreciation; and land and site valuation. The course will guide you through sales comparison approach including researching the market, verifying information, selecting units of comparison, conducting a comparitive analysis, making adjustments, and reconciliation. You will also complete key sections of an appraisal report. In addition, the course provides an introduction to property description and construction and design basics. By successfully completing the course and exam you will have met most states’ education requirements for content identified as basic appraisal procedures.

Required Equipment & Textbooks: HP-12c calculator. You must be familiar with calculator operation when the course begins. Answers to problems in course material are shown using the HP-12c. Do not come to class expecting to be taught how to use a financial calculator.

Optional Textbooks: Dictionary of Real Estate Appraisal, 5th Edition; Appraisal of Real Estate, 13th Edition; Appraising Residential Properties, 3rd Edition

Classroom Hours: 28 hours + 2 hour exam
Course Timetable: Days 1-4 8A – 5P

Instructors: Jon Mask, ARA and Scott Seely, ARA, MAI

For more information contact: Diana Marquez – 512.465.0546 or