Form 100.05*	Client File #:	Appraisal File #:
	Restricted Appraisal Report • Residential
	Appraisal Company:
	Address:
	Phone: Fax: Website:

Client:		Client File #:
Subject Property:		Appraisal File #:

Client:		Client File #:
Subject Property:		Appraisal File #:

Client:		Client File #:
Subject Property:		Appraisal File #:

Client:		Client File #:
Subject Property:		Appraisal File #:

SITE VALUATION
Site Valuation Methodology
Sales Comparison Approach: A set of procedures in which a value indication is derived by comparing the property being appraised to similar properties that have been sold recently, then applying appropriate units of comparison and making adjustments to the sale prices of the comparables based on the elements of comparison. The sales comparison approach may be used to value improved properties, vacant land, or land being considered as though vacant; it is the most common and preferred method of land valuation when an adequate supply of comparable sales are available. Market Extraction: A method of estimating land value in which the depreciated cost of the improvements on the improved property is estimated and deducted from the total sale price to arrive at an estimated sale price for the land; most effective when the improvements contribute little to the total sale price of the property. Alternative Method: (Describe methodology and rationale) null
Site Valuation
ITEM	SUBJECT	COMPARISON 1		COMPARISON 2		COMPARISON 3
Address
Proximity to Subject
Data Source/ Verification
Sales Price	$		$		$		$
Price/	$		$		$		$
Sale Date
Location
Site Size
Site View
Site Improvements





Net Adjustment		+ -	$	+ -	$	+ -	$
Indicated Value		Net Adj. % Gross Adj. %	$	Net Adj. % Gross Adj. %	$	Net Adj. % Gross Adj. %	$
Prior Transfer History
Site Valuation Comments: null
Site Valuation Reconciliation: null
Opinion of Site Value				$

Client:		Client File #:
Subject Property:		Appraisal File #:

COST APPROACH
Cost Approach Definitions
Reproduction Cost is the estimated cost to construct, at current prices as of the effective appraisal date, an exact duplicate or replica of the bulding being appraised, using the same materials, construction standards, design, layout, and quality of workmanship, and embodying all of the deficiencies, superadequacies, and obsolescence of the subject building. Replacement Cost is the estimated cost to construct, at current prices as of the effective appraisal date, a building with utility equivalent to the building being appraised, using modern materials and current standards, design and layout.
Cost Approach Analysis
Estimated Cost New
Above Grade Living Area	@ $ Sq. Ft	=$
Finished Below Grade Area	@ $ Sq. Ft	=$
Unfinished Below Grade Area	@ $ Sq. Ft	=$
Other Area	@ $ Sq. Ft	=$
Car Storage	@ $ Sq. Ft	=$
		$
		$
		$
Total Estimated Cost New		$
Less Depreciation
Physical	= $ %
Functional	$
External	$
Total Depreciation		$
Depreciated Value of Improvements		$
Contributory Value of Site Improvements		$
		$
		$
		$
Opinion of Site Value		$
Indicated Value		$
Cost Approach Comments (Data Sources, Depreciation Basis, Site Value, Etc.): null
Cost Approach Reconciliation: null
Indication of Value by Cost Approach	$

Client:		Client File #:
Subject Property:		Appraisal File #:

INCOME APPROACH
Market Rent Analysis
ITEM	SUBJECT	RENTAL 1		RENTAL 2		RENTAL 3
Address
Proximity to Subject
Data Source/ Verification
Lease Term
Date of Lease
Rent/	$		$		$		$
Rent Concession
Less Utilities
Less
Adjusted Market Rent			$		$		$
Location
Site/View
Quality of Construction
Age
Condition
Above Grade Bedrooms	Bedrooms	Bedrooms		Bedrooms		Bedrooms
Above Grade Baths	Baths	Baths		Baths		Baths
Gross Living Area	Sq.Ft.	Sq.Ft.		Sq.Ft.		Sq.Ft.
Below Grade Area	Sq.Ft.	Sq.Ft.		Sq.Ft.		Sq.Ft.
Other Area	Sq.Ft.	Sq.Ft.		Sq.Ft.		Sq.Ft.
Heating/Cooling
Car Storage


Net Adjustment		+ -	$	+ -	$	+ -	$
Indicated Market Rent		Net Adj. % Gross Adj. %	$	Net Adj. % Gross Adj. %	$	Net Adj. % Gross Adj. %	$
Rent comparable analysis and reconciliation of market rent of subject property: null
Opinion of Market Rent						$
Gross Rent Multiplier Analysis
ADDRESS		DATE	SALE PRICE	GROSS RENT	GRM	COMMENTS




Comment and reconciliation of the gross rent multiplier (GRM): null
$ X = $ GRM Opinion of Market Rent:
Indication of Value by Income Approach				$

Client:		Client File #:
Subject Property:		Appraisal File #:

SALES COMPARISON APPROACH
ITEM	SUBJECT	COMPARISON 1		COMPARISON 2		COMPARISON 3
Address
Proximity to Subject
Data Source/ Verification
Original List Price	$		$		$		$
Final List Price	$		$		$		$
Sale Price	$		$		$		$
Sale Price % of Original List	%		%		%		%
Sale Price % of Final List	%		%		%		%
Closing Date
Days On Market
Price/Gross Living Area	$	$		$		$
	DESCRIPTION	DESCRIPTION	+(-) Adjustment	DESCRIPTION	+(-) Adjustment	DESCRIPTION	+(-) Adjustment
Financing Type
Concessions
Contract Date
Location
Site Size
Site Views/Appeal
Design and Appeal
Quality of Construction
Age
Condition
Above Grade Bedrooms	Bedrooms	Bedrooms		Bedrooms		Bedrooms
Above Grade Baths	Baths	Baths		Baths		Baths
Gross Living Area	Sq.Ft.	Sq.Ft.		Sq.Ft.		Sq.Ft.
Below Grade Area
Below Grade Finish
Other Area
Functional Utility
Heating/Cooling
Car Storage



Net Adjustment (total)		+ -	$	+ -	$	+ -	$
Adjusted Sale Price		Net Adj. % Gross Adj. %	$	Net Adj. % Gross Adj. %	$	Net Adj. % Gross Adj. %	$
Prior Transfer History
Comments and reconciliation of the sales comparison approach: null
Indication of Value by Sales Comparison Approach				$

Appraiser:		Co-Appraiser:
AI Membership (if any): SRA MAI SRPA AI-GRS AI-RRS		AI Membership (if any): SRA MAI SRPA AI-GRS AI-RRS
AI Affiliate (if any): Candidate for Designation Practicing Affiliate		AI Affiliate (if any): Candidate for Designation Practicing Affiliate
Other Professional Affiliation:		Other Professional Affiliation:
E-mail:		E-mail:
Client: Contact:
Address:
Phone:	Fax:	Email:
SUBJECT PROPERTY IDENTIFICATION
Address:
City: County: State: ZIP:
Legal Description: null
Tax Parcel #:		RE Taxes:	Tax Year:
Use of the Real Estate As of the Date of Value:
Use of the Real Estate Reflected in the Appraisal:
Opinion of highest and best use (if required):
SUBJECT PROPERTY HISTORY
Owner of Record:
Description and analysis of sales within 3 years (minimum) prior to effective date of value: null
Description and analysis of agreements of sale (contracts), listings, and options: null
RECONCILIATIONS AND CONCLUSIONS
Indication of Value by Sales Comparison Approach		$
Indication of Value by Cost Approach		$
Indication of Value by Income Approach		$
Final Reconciliation of the Methods and Approaches to Value: null
Opinion of Value as of:		$
Exposure Time:
The above opinion is subject to: Hypothetical Conditions and/or Extraordinary Assumptions cited on the following page.

ASSIGNMENT PARAMETERS
Intended User(s):
Intended Use:
*This report is not intended by the appraiser for any other use or by any other user.*
Type of Value:	Effective Date of Value:
Interest Appraised: Fee Simple Leasehold Other
Hypothetical Conditions: (A hypothetical condition is that which is contrary to what exists, but is asserted by the appraiser for the purpose of analysis. Any hypothetical condition may affect the assignment results.) null
Extraordinary Assumptions: (An extraordinary assumption is directly related to a specific assignment and presumes uncertain information to be factual. If found to be false this assumption could alter the appraiser’s opinions or conclusions. Any extraordinary assumption may affect the assignment results.) null
This is a Restricted Appraisal Report in accordance with Standard Rule 2-2(b) of the Uniform Standard of Professional Appraisal Practice.
SCOPE OF WORK
Definition: The scope of work is the type and extent of research and analysis in an assignment. Scope of work includes the extent to which the property is identified, the extent to which tangible property is inspected, the type and extent of data research, and the type and extent of analysis applied to arrive at credible opinions or conclusions. The specific scope of work for this assignment is identified below and throughout this report.
Scope of Subject Property Inspection/Data Sources Utilized	Approaches to Value Developed
Appraiser	Cost Approach: Is necessary for credible results and is developed in this analysis Is not necessary for credible results; not developed in this analysis Is not necessary for credible results but is developed in this analysis
Property Inspection: Yes No
Date of Inspection:
Describe Scope of Property Inspection, Source of Area Calculations and Data Sources Consulted: null	Sales Comparison Approach: Is necessary for credible results and is developed in this analysis Is not necessary for credible results; not developed in this analysis Is not necessary for credible results but is developed in this analysis
Co-Appraiser
Property Inspection: Yes No
Date of Inspection:
Describe Scope of Property Inspection, Source of Area Calculations and Data Sources Consulted: null	Income Approach: Is necessary for credible results and is developed in this analysis Is not necessary for credible results; not developed in this analysis Is not necessary for credible results but is developed in this analysis
Additional Scope of Work Comments: null
Significant Real Property Appraisal Assistance: None Disclose Name(s) and contribution: null

MARKET AREA ANALYSIS
Location Urban Suburban Rural		Built Up Under 25% 25-75% Over 75%	Growth Rapid Stable Slow		Supply & Demand Shortage In Balance Over Supply		Value Trend Increasing Stable Decreasing Typical Marketing Time Under 3 Months 3-6 Months Over 6 Months
Neighborhood Single Family Profile			Neighborhood Land Use				Neighborhood Name:
Price		Age					Neighborhood Name:
	Low		1 Family	%	Commercial	%	PUD HOA: $ / Condo
	High		Condo	%	Vacant	%	Amenities: null
	Predominant		Multifamily	%		%	Amenities: null
Market area description and characteristics: null

SITE ANALYSIS
Dimensions:			Area:
View:			Shape:
Drainage:			Utility:
Site Similarity/Conformity To Neighborhood			Zoning/Deed Restriction
Size: Smaller than Typical Typical Larger than Typical		View: Favorable Typical Less than Favorable	Zoning: Legal No zoning Legal, non-conforming Illegal		Covenants, Condition & Restrictions Yes No Unknown Documents Reviewed Yes No Ground Rent $ /
Utilities			Off Site Improvements
Electric	Public	Other	Street	Public	Private
Gas	Public	Other	Alley	Public	Private
Water	Public	Other	Sidewalk	Public	Private
Sewer	Public	Other	Street Lights	Public	Private
Site description and characteristics: null
HIGHEST AND BEST USE ANALYSIS
Present Use Proposed Use Other
Summary of highest and best use analysis: null

Improvements ANALYSIS
General		Design:		No. of Units:		No. of Stories:		Actual Age:		Effective Age:
Existing Under Construction Proposed				Attached Detached				Manufactured Modular
Other:
Exterior Elements		Roofing:			Siding:				Windows:
Patio			Deck		Porch		Pool		Fence
Other:
Interior Elements		Flooring:			Walls:				Fireplace #
Kitchen: Refrigerator Range Oven Fan/Hood Microwave Dishwasher								Countertops:
Other:
Foundation		Crawl Space			Slab				Basement
Other:
Attic		None Scuttle			Drop Stair		Stairway		Finished
Mechanicals		HVAC:			Fuel:				Air Conditioning:
Car Storage		Driveway			Garage		Carport		Finished
Other Elements		null
Above Grade Gross Living Area (GLA)
	Living	Dining	Kitchen	Den	Family	Rec.	Bedrms	# Baths	Utility	Other	Area Sq. Ft.
Level 1
Level 2

Finished area above grade contains:			Bedroom(s):			Bath(s):			GLA:
Summarize Above Grade Improvements: null
Below Grade Area or Other Area
	Living	Dining	Kitchen	Den	Family	Rec.	Bedrms	# Baths	Utility	% Finished	Area Sq. Ft.
Below Grade
Other Area

Summarize below grade and/or other area improvements: null
Discuss physical depreciation and functional or external obsolescence: null
Discuss style, quality, condition, size, and value of improvements including conformity to market area: null

Restricted Appraisal Report • Residential

Opinion of Value as of:

$