Real Estate Appraisal Reports 2024: What Lawyers Need to Know

Product Type: Course

This course has no current sessions.

DescriptionMore DetailAgenda

Learn how to identify and expose any flaws in an appraisal report

—Rebroadcasts—
On the rebroadcast date, you will have until midnight of that rebroadcast date to access the course. Please note that technical support will be available during regular CLEBC business hours.

Summer Series 2024
Monday, July 15, 2024
Monday, July 22, 2024

Last Kick at the Can Series 2024
Monday, December 2, 2024
Monday, December 16, 2024

(Original webinar date: February 1, 2024)

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Who should attend: Lawyers working in the areas of real estate, creditors' remedies, foreclosures, family law, and estates; in-house counsel and those working with the Department of Justice; municipal officers, architects, engineers, urban developers, and consultants

Learning level: All levels

These are volatile times: real estate prices are rising rapidly, and financial institutions are trending toward requiring minimal appraisal reports. If you have cases involving foreclosure, matrimonial settlement, probate, or appraiser negligence, where residential or commercial appraisal reports are a part of the evidence, then you need to know how to review appraisal reports.

Join us to learn the quick check system of reviewing appraisals that can identify and expose any flaws in an appraisal report. You will be provided with inside information about appraisers and appraisal reports not normally disclosed outside the appraisal community.

You will learn about:

the current trend towards "desk top" appraisal reports, and their liability issue
problematic mistakes that occur in most appraisal reports
appraiser professional standards and how to use them in appraiser negligence cases
how to quick-check any appraisal report for mechanical flaws
how the cost approach works and why it is the best representation of value
how to review the sales comparison approach and the mechanics of all adjustments
mistakes in condo appraisal reports and how to quickly calculate the correct value
how to detect appraiser fraud
how to argue appraiser negligence cases

This course is guaranteed to change the way you look at appraisals and appraisers, giving you a big advantage in litigation. Included is a 76-page book that completely covers all aspects of appraisal review.

Law Society of BC CPD Hours: 6 hours (this course will contain a minimum of 1 hour pertaining to professional responsibility and ethics, client care and relations, and/or practice management)

Course Chair
Steven G. Coull — Forensic Appraisal Reviewer, Strategic International Appraisement Services, Parksville

Suumer Series 2024	EARLY BIRD Register by June 17/24	Regular Price After June 17/24
Rebroadcast	$479	$549
Rebroadcast Articled Student	$279	$279

*Last Kick at the Can 2024*
Rebroadcast	$549
Rebroadcast Articled Student	$279

Are you a member of the Indigenous legal community (lawyer/Articled Student/legal support staff/paralegal) or a non-lawyer Indigenous community member?
We value your contributions and encourage your participation in all of our programs. To increase accessibility, we offer a 50% discount* to all Indigenous lawyers/Articled Students/legal support staff/paralegals and a limited number of free online registrations to non-lawyer Indigenous community members. (*discount applies to Regular prices, not Early Bird prices). Please contact Customer Service to find out more.

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Registration includes an electronic copy of the reference materials.

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CLEBC Program Lawyer*
Teresa Sheward
tsheward@cle.bc.ca
*non-practising

Course Chair
Steven G. Coull — Forensic Appraisal Reviewer, Strategic International Appraisement Services, Parksville

About the Course Chair
Steven Coull is a forensic appraisal reviewer with Strategic International Appraisement Services, based on Vancouver Island.

During his career in the appraisal profession, he served as the Chief Executive Officer and Director of Education of one of the major Canadian appraisal associations for 18 years. He also practiced in the US for 12 years where he worked with the US Marshall Service and the State of Vermont Property Valuation Review Board. He was a Senior Member of the National Association of Independent Fee Appraisers (NAIFA) and the National Association of Review Appraisers and Mortgage Underwriters.

Steven is the author of 14 books covering various appraisal topics including four publications specifically detailing appraisal review. He has testified before probate courts, bankruptcy courts, property assessment appeal boards, and for civil litigation cases. He has worked with numerous financial institutions developing their appraisal requirements, appraisal review systems, and appraiser standards compliance. Steven is one of only a very few forensic appraisal reviewers in Canada and is regarded as one of the foremost authorities on forensic appraisal review.

Welcome and Land Acknowledgement (9:00 – 9:05)

Teresa Sheward — Program Lawyer, CLEBC, Vancouver
Steven G. Coull — Forensic Appraisal Reviewer, Strategic International Appraisement Services, Parksville

Course Introduction (9:05 – 10:30)

Basic Rules

appraisal in general
final value vs. how the appraiser actually got there
appraiser standards
appraiser designations and the big myth
the big problems with appraisal reports today

The Age/Life Concept

typical life expectancy/economic life
effective age vs. actual age
the age/life formula and reviewing
where to look

BREAK (10:30 - 10:45)

Reviewing the Cost Approach (10:45 – 11:45)

depreciation
cost approach mechanics
what goes where in the cost section

Land Valuation

Sales Comparison Approach

sales comparison mechanics
abstraction

Questions & Discussion (11:45 – 12:00)

LUNCH (12:00 – 1:00)

Reviewing the Sales Comparison Approach (1:00 – 2:30)

how the sales comparison method works
condition adjustments
GLA adjustments
where to look

BREAK (2:30 – 2:45)

Reviewing Condo Appraisal Reports (2:45 – 3:45)

the simple review methods
where to look

Reviewing Commercial Narrative Appraisal Reports

the most common mistakes
highest and best use analysis
sales comparison the income way
reviewing income statements
the IRV formula
reviewing capitalization rates

Questions & Discussion (3:45 – 4:00)

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Real Estate Appraisal Reports 2024: What Lawyers Need to Know

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