This course provides an in-depth look at basic appraisal procedures. It builds on the Basic Appraisal Principles course, which should be taken as a prerequisite to this course. It is structured to conform to the criteria for the beginning courses that are needed to become a Real Property Appraiser Trainee. This course is also a common requirement for all levels of licensing and certification for real property appraisers.
This course starts with the valuation procedures that should be followed when appraising any type of property. These steps include:
• Defining the problem
• Collecting and selecting the data
• Analyzing the data
• Reconciliation and final value opinion
• Communicating the appraisal
• Scope of work will be defined and illustrated and its importance will be stressed.
Data sources for this information will be presented. There will be coverage on the geographic and geologic characteristics of the land/site. Location and neighborhood characteristics will be discussed. Housing styles and construction basics will be illustrated.
There will be an overview and introduction to the three approaches to value. These are the cost approach, sales comparison approach and income capitalization approach. The three elements of the cost approach will be discussed and illustrated in separate chapters. These include site valuation, estimating reproduction/replacement cost, and estimating depreciation.
The sales comparison approach and income capitalization approach will each be presented, along with appropriate examples, in subsequent chapters. The last chapter will cover reconciliation and report writing.
There is a required three-hour exam at the end that must be taken in a monitored classroom setting.
This course starts with the valuation procedures that should be followed when appraising any type of property. These steps include:
• Defining the problem
• Collecting and selecting the data
• Analyzing the data
• Reconciliation and final value opinion
• Communicating the appraisal
• Scope of work will be defined and illustrated and its importance will be stressed.
Data sources for this information will be presented. There will be coverage on the geographic and geologic characteristics of the land/site. Location and neighborhood characteristics will be discussed. Housing styles and construction basics will be illustrated.
There will be an overview and introduction to the three approaches to value. These are the cost approach, sales comparison approach and income capitalization approach. The three elements of the cost approach will be discussed and illustrated in separate chapters. These include site valuation, estimating reproduction/replacement cost, and estimating depreciation.
The sales comparison approach and income capitalization approach will each be presented, along with appropriate examples, in subsequent chapters. The last chapter will cover reconciliation and report writing.
There is a required three-hour exam at the end that must be taken in a monitored classroom setting.
Chapter list:
1. Valuation Process
2. Data Collection
3. Land/Site Valuation
4. Building Styles and Construction
5. Cost Approach - Cost Estimating
6. Cost Approach - Depreciation
7. Sales Comparison Approach - Principles and Data Sources
8. Sales Comparison Approach - Adjustment Procedures
9. Income Capitalization Approach
10. Income Multipliers
11. Reconciliation
12. Conclusion
Course ratings and reviews
McKissock is rated
out of
5 by
5738.
Rated 5 out of
5
by
Cassie R from
It covered the things I didn't know I needed to know.
Date published: 2019-09-16
Rated 5 out of
5
by
Robert A from
I was pleasantly surprised at the ease and convenience of this course. I will take all my appraisal classes with McKissock.
Date published: 2019-09-14
Rated 5 out of
5
by
Dawn F from
This is a great site for classes. Well explained and great customer service.
Date published: 2019-09-12
Rated 5 out of
5
by
Joseph H from
This is very challenging, but the course gives real-world, common sense examples that helps.
Date published: 2019-09-05
Rated 5 out of
5
by
Bruce R from
Tough. lots of reading and understanding. Looking forward to start learning in the field
Date published: 2019-09-03
Rated 5 out of
5
by
Terry G from
The course material is explained in detail (with examples when necessary). The course also quiz's your understanding periodically throughout the course material and again at the end of each chapter. You can then either review the chapter material or continue to the next chapter. I feel like the quiz's throughout the chapter helped me in retaining the information at the end of each chapter. This was a great experience for me and I would recommend it to anyone interested in online learning. Thanks
Date published: 2019-09-03
Rated 5 out of
5
by
Brian S from
Very easy to follow and with regular interactivity, it remained engaging and easy to learn by applying the lessons in a "hands-on" way.
Date published: 2019-08-16
Rated 5 out of
5
by
Ashton F from
This course has valuable information to contribute to newcomers of appraisal as well as experienced.
Date published: 2019-08-15
Is the course online?
Yes, our courses are online.
Date published: 2019-05-26