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417 - The Valuation of Environmentally Contaminated Real Estate

  • Course Number: C417
  • Course Title: The Valuation of Environmentally Contaminated Real Estate
  • Course Level: Advanced
  • IRWA Credits: 16 QEU/CEU
  • AQB Credits: Not Applicable
  • Prerequisites:
    IRWA Course 400 “Principles of Real Estate Appraisal” (or equivalent); a minimum of one year practical appraisal experience and/or a college appraisal class (minimum of 9 hours or equivalent); IRWA Course 603 “Understanding Environmental Contamination in Real Estate” (or equivalent); a basic knowledge of the three approaches to value.
This course sets out the big picture with techniques, exercises and case studies used in environmental damage analysis. Participants should have basic knowledge of the three approaches to value. The goal of this course is to provide theoretical knowledge and practical skill that will allow an appraiser, on a basic level, to develop an opinion of the impaired value of an environmentally damaged property.
Credentialing
  • New SR/WA: An advanced elective course that can be applied towards the RWP certification or SR/WA designation.
  • Specialist: An advanced elective course that can be applied towards the R/W-AC certification.
Topics
  • Uniform Standards of Professional Appraisal Practice (USPAP), Advisory Opinion 9 (AO-9), and source, non-source, adjacent, proximal (SNAP) site criteria within the appropriate stage of the environmental remediation lifecycle
  • Identify cost, use, and risk issues of the Detrimental Condition (DC) within the appropriate stage of the environmental remediation lifecycle
  • Apply the Detrimental Condition (DC) to the cost, sales comparison, and income capitalization approaches
  • Analyze market data and risk components
  • Identify data and verification questions
  • Data extraction methods from case studies to derive diminution in value, if any, and an impaired value indication
Course Tuition Includes
  • Participant Manual
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