This course introduces the principles and approaches of real estate valuation for the non-appraiser, with an emphasis on commercial properties including apartments, offices, retail properties, and industrial properties (warehouses). The course is intended to be completed after CPD 130, although it may stand alone for students with some prior knowledge of appraisal fundamentals. The course describes the appraisal process from receipt of a contract or terms of reference for a valuation through to submitting the appraisal report.
The three traditional approaches will be explained in detail, as they pertain to commercial appraisals, with an emphasis on the income approach. Appraisal review is also covered. This three-lesson course is not intended to teach all there is to know about commercial appraisal. Students completing this course will be able to recognize and apply the concepts learned in practical situations, and recognize the limits of their knowledge where the services of a professional appraisal reviewer may be necessary. Please note: this course is not eligible for AIC CPD credit (but is eligible for 9 PDP credits for BCREA members).
FOREWORD: Introduction to Professional Development Courses
LESSON 1: Fundamentals of Commercial Appraisal
LESSON 2: Valuation Approaches for Commercial Properties
LESSON 3: Evaluating Commercial Appraisal Reports
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