Arledge Appraisals (325) 439-2431

DESKTOP APPRAISAL

Loan #
File #
Restricted Appraisal Report
Intended Use(s):
Data Source(s) Used:
SUBJECT and CLIENT INFORMATION
Property Address
Unit #
City
State
Zip Code
County
R.E. Taxes $
Owner/Borrower
Legal Description
Tax ID#/APN#
Property Rights Appraised
Property Type    
Lender/Client
HIGHEST and BEST USE
Is the Highest and Best Use of the subject property as improved (based on the improvements description provided by the various data sources available) the present use?    
If No, describe.
Specific Zoning Classification
Zoning Description
Zoning Compliance
MARKET AREA ANALYSIS
Market Area Characteristics One-Unit Housing Trends One-Unit Housing
PRICE $(000) AGE (yrs)
Location
Property Values
Low
Built-Up
Demand/Supply
High
Growth
Marketing Time
Pred.
Market Comments
SALES COMPARISON ANALYSIS
Property Features Subject Comparable # 1 Comparable # 2 Comparable # 3
Address
Proximity to Subject
Data Sources
MLS#
List Price
$
$
$
$
Sale Price
$
$
$
$
Sale Price/Gross Liv Area
$ /sq.ft.
$ /sq.ft.
$ /sq.ft.
$ /sq.ft.
Seller Concession
$
$
$
$
Sale Date
Days on Market
Location
View
Site Area
Actual Age (years)
Condition
Above Grade Total Bdrms FB/HB Total Bdrms FB/HB Total Bdrms FB/HB Total Bdrms FB/HB
Room Count
Gross Living Area (GLA)
sq.ft.
sq.ft.
sq.ft.
sq.ft.
Basement
Garage/ Carport
Pool
Net Adjustment (Total)
$
$
$
Adjusted Sale Price of Comparables
Net Adj. %
Grs. Adj. %

$
Net Adj. %
Grs. Adj. %

$
Net Adj. %
Grs. Adj. %

$
LISTING and TRANSFER HISTORY
The Appraiser has researched and analyzed the listing history of the subject property for the last 12 months.
Subject Property
Listing History List Date List Price Days on Market (DOM)
$
$
The Appraiser has researched and analyzed a 3 year transfer history of the subject property/1 year history for the comparables.
Transfer History Subject Comp 1 Comp 2 Comp 3
Date/Amount
$
$
$
$
$
$
$
$
(Use the Summary section below if additional room is needed.)
SUMMARY
COMMENTS (Including reconciliation of sales comparison data and comments on listing and transfer history(s).)
Opinion of Market Value     $ as of
The above opinion is subject to:    

DESKTOP APPRAISAL

Loan #
File #
Restricted Appraisal Report
SALES COMPARISON ANALYSIS
Property Features Subject Comparable # 4 Comparable # 5 Comparable # 6
Address
Proximity to Subject
Data Sources
MLS#
List Price
$
$
$
$
Sale Price
$
$
$
$
Sale Price/Gross Liv Area
$ /sq.ft.
$ /sq.ft.
$ /sq.ft.
$ /sq.ft.
Seller Concession
$
$
$
$
Sale Date
Days on Market
Location
View
Site Area
Actual Age (years)
Condition
Above Grade Total Bdrms FB/HB Total Bdrms FB/HB Total Bdrms FB/HB Total Bdrms FB/HB
Room Count
Gross Living Area (GLA)
sq.ft.
sq.ft.
sq.ft.
sq.ft.
Basement
Garage/ Carport
Pool
Net Adjustment (Total)
$
$
$
Adjusted Sale Price of Comparables
Net Adj. %
Grs. Adj. %

$
Net Adj. %
Grs. Adj. %

$
Net Adj. %
Grs. Adj. %

$
TRANSFER HISTORY
The Appraiser has researched and analyzed a 3 year transfer history of the subject property/1 year history for the comparables.
Transfer History Subject Comp 4 Comp 5 Comp 6
Date/Amount
$
$
$
$
$
$
$
$

This form is designed to report an appraisal of a one-four unit residential property. This form is not to be used when appraising the following types of properties: commercial properties, co-operative units, or vacant land.

This appraisal report is subject to the following scope of work, intended use, intended user, definition of market value, statement of assumptions and limiting conditions, and certifications. Modifications, additions, or deletions to the intended use, intended user, definition of market value, statement of assumptions and limiting conditions, and certifications are not permitted without express authorization by the client. The appraiser may expand the scope of work to include any additional research or analysis necessary based on the complexity of this appraisal assignment. Additional certifications that do not constitute material alterations to this appraisal report are permitted.

EXPOSURE TIME:   The estimated length of time that the property interest being appraised would have been offered on the market prior to the hypothetical consummation of a sale at market value on the effective date of the appraisal.

EXTRAORDINARY ASSUMPTIONS:   Extraordinary assumptions presume as fact otherwise uncertain information, which, if found to be false, could alter the appraiser's opinions or conclusions. No extraordinary assumptions were made as part of this appraisal assignment, unless otherwise indicated elsewhere in this report.

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.

PURPOSE:
The purpose of this appraisal is to estimate the market value of the real property that is the subject of this report based on a sales comparison analysis solely for the use by the lender/client identified in the report.

INTENDED USE:
The intended use of this appraisal report is for a mortgage transaction, home equity line of credit, or internal asset evaluation by the lender/client related to their specific use(s) cited on Page 1. This report is not intended for any other use(s).

INTENDED USER:
The intended user of this report is the client. No other intended users are permitted.

RESTRICTED APPRAISAL REPORT:
The Restricted Appraisal Report option limits the use of this report to the client. The appraiser’s opinions and conclusions set forth in the report cannot be understood properly without additional information in the appraiser’s workfile.

DEFINITION OF MARKET VALUE:
Market value means the most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition are the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby:

  1. buyer and seller are typically motivated;
  2. both parties are well informed or well advised, and acting in what they consider their own best interests;
  3. a reasonable time is allowed for exposure in the open market;
  4. payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and
  5. the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale.

(Source of Market Value Definition: Uniform Standards of Professional Appraisal Practice and Advisory Opinions 2014-2015 Edition, Appraisal Standards Board, The Appraisal Foundation, effective January 1, 2014, page A-105)

DESKTOP APPRAISAL

Loan #
File #
Restricted Appraisal Report

CONTINGENT AND LIMITING CONDITIONS:   My certification is subject to the following conditions and to such other specific and limiting conditions as set forth the report.

  • The appraiser will not be responsible for matters of a legal nature that affect the subject property.
  • The appraiser assumes the title is good and marketable and, therefore, will not render any opinions about the title. The property is appraised on the basis of it being under responsible ownership.
  • The appraiser will not give testimony or appear in court because he or she performed this appraisal unless specific arrangements to do so have been made beforehand.
  • Except as noted herein, the appraiser has not made an exterior or interior inspection of the subject property. The appraiser assumes that there are no adverse conditions associated with the improvements or the subject site. Unless otherwise stated in this report, the appraiser has no knowledge of any hidden or apparent conditions of the property or adverse environmental conditions (including the presence of hazardous wastes, toxic substances, etc.) present in the improvements, on the site or in the immediate vicinity that would make the property more or less valuable, and has assumed that there are no such conditions. The appraiser makes no guarantees or warranties, express or implied, regarding the condition of the property. The appraiser assumes that the improvements are at a minimum in average condition. The appraiser will not be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the field of environmental hazards, the appraisal report may not be considered an environmental assessment of the property.
  • Information, estimates, and opinions furnished to the appraiser, and contained in the report, were obtained from sources considered reliable and believed to be true and correct. The appraiser does not assume responsibility for the accuracy of such items that were furnished by other parties.
  • The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that he or she considers reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracy of such items that were furnished by other parties.

CERTIFICATION:   I certify that, to the best of my knowledge and belief:

  • The facts and data reported in this report are true and correct.
  • The analyses, opinions, and conclusions in this report are limited only by the assumptions and limiting conditions stated in this report and are my personal, impartial, and unbiased professional analyses, opinions, and conclusions.
  • I have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the parties involved.
  • I have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment.
  • My engagement in this assignment was not contingent upon developing or reporting predetermined results.
  • My compensation is not contingent on an action or event resulting from the analyses, opinions, or conclusions in this review or from its use.
  • My analyses, opinions, and conclusions were developed and this review report was prepared in conformity with the Uniform Standards of Professional Appraisal Practice.
  • I have not made a personal inspection of the property that is the subject of this report, nor did I make inspections of the comparable sales, unless otherwise noted.
  • No one provided significant appraisal, appraisal review, or appraisal consulting assistance to the person signing this certification unless they are cited below, by name, and with disclosure of the specific tasks they performed in this appraisal report.
  • I have performed no services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three-year period immediately preceding acceptance of this assignment, unless I have cited specific prior services in the area below.
APPRAISER ADDRESS OF PROPERTY APPRAISED
Signature:

Name:
Company Name:
Company Address
APPRAISED VALUE OF SUBJECT PROPERTY $
EFFECTIVE DATE OF APPRAISAL/INSPECTION
Date of Signature and Report:
State Certification #:
CLIENT
or State License #:
Name:
State:
Company Address
Expiration Date of Certification or License: