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The Valuation of Environmentally Contaminated Real Estate
417 - The Valuation of Environmentally Contaminated Real Estate: A special emphasis course which focuses upon the appraisal of real estate when environmental contamination is a factor.
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Course Number:
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C417
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Course Title:
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The Valuation of Environmentally Contaminated Real Estate
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Course Level:
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Advanced
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Course Length:
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2 days – 8 AM to 5 PM daily
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IRWA Credits:
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16 QEU/CEU
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Prerequisites:
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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.
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Course Description
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
Required Material
Who should take this course
This course is designed for right of way professionals who are in the appraisal field, specifically those involved in the valuation of potentially environmentally contaminated properties.
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