Form 120.05*	Client File #:	Appraisal File #:
	Appraisal Report • Land
	Appraisal Company:
	Address:
	Phone:	Fax:	Website:

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 Affiliation (if any): Candidate for Designation Practicing Affiliate		AI Affiliation (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:
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:
Description and analysis of agreements of sale (contracts), listings, and options:
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.

CONTRACT ANALYSIS
I did did not analyze the contract for sale for the subject purchase transaction. Explain the results of the analysis of the contract for sale or why the analysis was not performed. null
Contract Price $:	Date of Contract:	Is the property seller the owner of public record? Yes No	Data Sources
Is there any financial assistance (loan charges, sale concessions, gift or down payment assistance, etc.) to be paid by any party on behalf of the borrower? Yes No
If Yes, report the total dollar amount and describe the items to be paid.		$
null

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

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

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

CERTIFICATIONS AND LIMITING CONDITIONS

This report form is designed to report an appraisal of a parcel of land which may have some minor improvements but is not considered to be an “improved site”. All improvements are considered to be of relatively minor value impact on the overall value of the site. This report form is not designed to report on an “improved site” where significant value is derived from the improvements. This appraisal report form may be used for single family, multi-family sites and may be included within a PUD development.

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, or assumptions and limiting conditions are not permitted. The appraiser may expand the scope of work to include any additional research or analysis necessary based on the complexity of this appraisal assignment. Modifications or deletions to the certifications are also not permitted. However, additional certifications that do not constitute material alterations to this appraisal report, such as those required by law or those related to the appraiser's continuing education or membership in an appraisal organization, are permitted.

SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this appraisal assignment and the reporting requirements of this appraisal report form, including the following definition of market value, statement of assumptions and limiting conditions and certifications. The appraiser must, at a minimum: (1) perform a complete visual inspection of the subject site and any limited improvements, (2) inspect the neighborhood, (3) inspect each of the comparable sales from at least the street, (4) research, verify and analyze data from reliable public and/or private sources, and (5) report his or her analysis, opinions and conclusions in this appraisal report.

INTENDED USE: The intended use of this appraisal report is for the lender/client to evaluate the property that is the subject of this appraisal for a mortgage finance transaction.

INTENDED USER: The intended user of this report is the lender/client identified within the appraisal report.

DEFINITION OF MARKET VALUE: 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 is 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 each acting in what they consider their own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in United States 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: OCC, OTS, FRS, & FDIC joint regulations published June 7, 1994)

*Adjustments to the comparables must be made for special or creative concessions. No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the appraiser's judgment.

STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification in this report is subject to the following assumptions and limiting conditions:

The appraiser will not be responsible for matters of a legal nature that affect the subject property being appraised or the title to it, except for information that he or she became aware of during the research involved in performing this appraisal. The appraiser assumes that the title is good and marketable and will not render any opinions about the title.
The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted in this appraisal report whether any portion of the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination.
The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question unless specific arrangements to do so have been made beforehand, or as otherwise required by law.
The appraiser has noted in this appraisal report any adverse conditions (such as the presence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he or she became aware of during the research involved in performing this appraisal. Unless otherwise stated in this appraisal report, the appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse conditions of the subject property (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) that would make the property less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties express or implied. The appraiser will not be responsible for any such conditions that do exist or for the 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, this appraisal must not be considered as an environmental assessment of the property.

APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that:

I have, at a minimum, developed and reported this appraisal in accordance with the scope of work requirements stated in this appraisal report.
I performed a complete visual inspection of the subject site and any limited improvements. I have reported the information in factual and specific terms. I identified and reported the deficiencies of the subject site that could affect the utility of the site and its usefulness as a building lot(s).
I performed this appraisal in accordance with the requirements of the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of the Appraisal Foundation and that were in place at the time this appraisal report was prepared.
I developed my opinion of the market value of the real property that is the subject of this report based on the sales comparison approach to value. I have adequate comparable market data to develop a reliable sales comparison approach for this appraisal assignment. I further certify that I considered the cost and income approaches to value but did not develop them unless indicated elsewhere within this report as there are no or very limited improvements and these approaches to value are not deemed necessary for credible results and/or reliable indicators of value for this appraisal assignment.
I researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering for sale of the subject property in the twelve months prior to the effective date of this appraisal, and the prior sales of the subject property for a minimum of three years prior to the effective date of this appraisal, unless otherwise indicated in this report.
I researched, verified, analyzed, and reported on the prior sales of the comparable sales for a minimum of one year prior to the date of the sale of the comparable sale, unless otherwise indicated in this report.
I selected and used comparable sales that are locationally, physically, and functionally the most similar to the subject property.
I have not used comparable sales that were the result of combining multiple transactions into one reported sale.
I have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subject property and the comparable sales.
I have verified, from a disinterested source, all information in this report that was provided by parties who have a financial interest in the sale or financing of the subject property.
I have knowledge and experience in appraising this type of property in this market area.
I am aware of, and have access to, the necessary and appropriate public and private data sources, such as multiple listing services, tax assessment records, public land records and other such data sources for the area in which the property is located.

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
Sale 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				$

CERTIFICATIONS AND LIMITING CONDITIONS (continued)

I obtained the information, estimates, and opinions furnished by other parties and expressed in this appraisal report from reliable sources that I believe to be true and correct.
I have taken into consideration the factors that have an impact on value with respect to the subject neighborhood, subject property, and the proximity of the subject property to adverse influences in the development of my opinion of market value. I have noted in this appraisal report any adverse conditions (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) observed during the inspection of the subject property or that I became aware of during the research involved in performing this appraisal. I have considered these adverse conditions in my analysis of the property value, and have reported on the effect of the conditions on the value and marketability of the subject property.
I have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, all statements and information in this appraisal report are true and correct.
I stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject only to the assumptions and limiting conditions in this appraisal report.
I have no present or prospective interest in the property that is the subject of this report, and I have no present or prospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my analysis and/or opinion of market value in this appraisal report on the race, color, religion, sex, age, marital status, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of the present owners or occupants of the properties in the vicinity of the subject property or on any other basis prohibited by law.
My employment and/or compensation for performing this appraisal or any future or anticipated appraisals was not conditioned on any agreement or understanding, written or otherwise, that I would report (or present analysis supporting) a predetermined specific value, a predetermined minimum value, a range or direction in value, a value that favors the cause of any party, or the attainment of a specific result or occurrence of a specific subsequent event (such as approval of a pending mortgage loan application).
I personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report. If I relied on significant real property appraisal assistance from any individual or individuals in the performance of this appraisal or the preparation of this appraisal report, I have named such individual(s) and disclosed the specific tasks performed in this appraisal report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to any item in this appraisal report; therefore, any change made to this appraisal is unauthorized and I will take no responsibility for it.
I identified the lender/client in this appraisal report who is the individual, organization, or agent for the organization that ordered and will receive this appraisal report.
The lender/client may disclose or distribute this appraisal report to: the borrower; another lender at the request of the borrower; the mortgagee or its successors and assigns; mortgage insurers; government sponsored enterprises; other secondary market participants; data collection or reporting services; professional appraisal organizations; any department, agency, or instrumentality of the United States; and any state, the District of Columbia, or other jurisdictions; without having to obtain the appraiser's or supervisory appraiser's (if applicable) consent. Such consent must be obtained before this appraisal report may be disclosed or distributed to any other party (including, but not limited to, the public through advertising, public relations, news, sales, or other media).
I am aware that any disclosure or distribution of this appraisal report by me or the lender/client may be subject to certain laws and regulations. Further, I am also subject to the provisions of the Uniform Standards of Professional Appraisal Practice that pertain to disclosure or distribution by me.
The borrower, another lender at the request of the borrower, the mortgagee or its successors and assigns, mortgage insurers, government sponsored enterprises, and other secondary market participants may rely on this appraisal report as part of any mortgage finance transaction that involves any one or more of these parties.
If this appraisal report was transmitted as an “electronic record” containing my “electronic signature”, as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature.
Any intentional or negligent misrepresentation(s) contained in this appraisal report may result in civil liability and/or criminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States Code, Section 1001, et seq., or similar state laws.

SUPERVISORY APPRAISER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that:

I directly supervised the appraiser for this appraisal assignment, have read the appraisal report, and agree with the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification.
I accept full responsibility for the contents of this appraisal report including, but not limited to, the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification.
The appraiser identified in this appraisal report is either a sub-contractor or an employee of the supervisory appraiser (or the appraisal firm), is qualified to perform this appraisal, and is acceptable to perform this appraisal under the applicable state law.
This appraisal report complies with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared.
If this appraisal report was transmitted as an “electronic record” containing my “electronic signature”, as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature.

SIGNATURES
APPRAISER:	SUPERVISORY APPRAISER (ONLY IF REQUIRED):
Signature:	Signature:
Name:	Name:
Company Name:	Company Name:
Company Address:	Company Address:
Telephone Number:	Telephone Number:
Email Address:	Email Address:
Date of Signature and Report:	Date of Signature:
Effective Date of Appraisal:	State Certification #:
State Certification #:	or State License #:
or State License #:	State:
or Other (describe): State #:	Expiration Date of Certification or License:
State:
Expiration Date of Certification or License:	SUBJECT PROPERTY
ADDRESS OF PROPERTY APPRAISED	Did not inspect subject property Did inspect exterior of subject property from at least the street Date of Inspection:
APPRAISED VALUE OF SUBJECT PROPERTY $
LENDER/CLIENT	COMPARABLE SALES
Name:	Did not inspect exterior of comparable sales from street Did inspect exterior of comparable sales from street Date of Inspection:
Company Name:
Company Address:
Email Address:

ADDITIONAL COMPARABLE SALES
FEATURE	SUBJECT	COMPARABLE # 4		COMPARABLE # 5		COMPARABLE # 6
Address City/St/Zip
Proximity to Subject
Data Sources Verification Sources
Data Sources Verification Sources
Sale Price	$		$		$		$
Price/	$	$		$		$
Date of Sale (MO/DA/YR)
Days on Market
Financing Type
Concessions
Location
Property Rights Appraised
Site Size
View
Topography
Available Utilities
Street Frontage
Street Type
Water Influence
Fencing
Improvements
Other Feature
Other Feature
Net Adjustment (Total, in $)		+ -	$	+ -	$	+ -	$
Adjusted sales price of the Comparable Sales (in $)		Net Adj. % Gross Adj. %	$	Net Adj. % Gross Adj. %	$	Net Adj. % Gross Adj. %	$
Listing/Transfer History (if more than two, use comments section or an addendum.)	Transfer/Sale (ONLY) of the Subject in past 36 months:	Listing and Transfer history of Comp 4 in past 12 months:		Listing and Transfer history of Comp 5 in past 12 months:		Listing and Transfer history of Comp 6 in past 12 months:
	$	$		$		$
	$	$		$		$
Comments on Prior Sales/Transfers and Current and Prior Listings: null
Summary of the Sales Comparison Approach: null

The purpose of this summary appraisal report is to provide the lender/client with an accurate and adequately supported opinion of the market value of the subject property.
CLIENT AND PROPERTY IDENTIFICATION
Property Address:	City:	State:	ZIP:
Borrower:		Owner of Public Record:	County:
Legal Description:
Assessor's Parcel #:		Tax Year:	R.E. Taxes:
Neighborhood Name:		Map Reference:	Census Tract:
Special Assessments:	PUD Yes No	HOA: $	Per Year Per Month
Property Rights Appraised: Fee Simple Leasehold Other (describe)
Assignment Type: Purchase Transaction Refinance Transaction Other (describe)
Lender/Client:		Address:

SITE DESCRIPTION
Dimensions:		Area: Acres Sq.Ft.		Shape:		View:
Zoning Classification:		Zoning Description:
Zoning Compliance: Legal Legal Nonconforming (Grandfathered Use) No Zoning Illegal (describe)
Uses permitted under current zoning regulations:
Highest & Best Use:
Describe any improvements:
Do present improvements conform to zoning? Yes No No improvements If No, explain: null
Present use of subject site:				Current or proposed ground rent? If Yes, $ Yes No
Topography:			Size:		Drainage:
Corner Lot: Yes No		Underground Utilities: Yes No		Fenced: If Yes, type: Yes No
Special Flood Hazard Area Yes No		FEMA Flood Zone:		FEMA Map #:		FEMA Map Date:
Utilities	Public	Other	Provider or Description	Off-site Improvements	Type/Description	Public	Other
Electricity				Street Surface
Gas				Street Type/Influence
Water				Curb/Gutter
Sanitary Sewer				Sidewalk
Other				Street Lights (type)
Other				Alley
Are the utilities and off-site improvements typical for the market? If No, describe: Yes No
Are there any adverse site conditions or external factors (easements, encroachments, environmental conditions, land uses, etc.)? Yes No If Yes, describe: null
Site Comments: null

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 an Appraisal Report in accordance with Standard Rule 2-2(a) of the Uniform Standard of Professional Appraisal Practice (USPAP).
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

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

Appraisal Report • Land

Opinion of Value as of:

$

LAND APPRAISAL REPORT

LAND APPRAISAL REPORT

LAND APPRAISAL REPORT

LAND APPRAISAL REPORT

LAND APPRAISAL REPORT

There are comparable sites currently offered for sale in the subject neighborhood ranging in price from $ to $ There were comparable sites sold in the past 12 months in the subject neighborhood ranging in sale price from $ to $
COMPARABLE SALES
FEATURE	SUBJECT	COMPARABLE # 1		COMPARABLE # 2		COMPARABLE # 3
Address City/St/Zip
Proximity to Subject
Data Sources Verification Sources

Sale Price	$		$		$		$
Price/	$	$		$		$
Date of Sale (MO/DA/YR)
Days on Market
Financing Type
Concessions
Location
Property Rights Appraised
Site Size
View
Topography
Available Utilities
Street Frontage
Street Type
Water Influence
Fencing
Improvements
Other Feature
Other Feature
Net Adjustment (Total, in $)		+ -	$	+ -	$	+ -	$
Adjusted sales price of the Comparable Sales (in $)		Net Adj. % Gross Adj. %	$	Net Adj. % Gross Adj. %	$	Net Adj. % Gross Adj. %	$
The Appraiser has researched the transfer history of the subject property for the past 3 years and the listing history of the subject for the past 12 months prior to the effective date of this appraisal. The appraiser has also researched the transfer and listing history of the comparable sales for the past 12 months.
The appraiser's research did did not reveal any prior sales or transfers of the subject property for the three years prior to the effective date of the appraisal. Data Sources:
The appraiser's research did did not reveal any prior sales or transfers of the comparable sales for the year prior to the date of sale of the comparable sale. Data Sources:
The appraiser's research did did not reveal any prior listings of the subject property or comparable sales for the year prior to the effective date of the appraisal. Data Sources:
Listing/Transfer History (if more than two, use comments section or an addendum.)	Transfer/Sale (ONLY) of the Subject in past 36 months:	Listing and Transfer history of Comp 1 in past 12 months:		Listing and Transfer history of Comp 2 in past 12 months:		Listing and Transfer history of Comp 3 in past 12 months:
	$	$		$		$
	$	$		$		$
Subject property is currently listed for sale? Data Source: Yes No
Current Listing History	List Date	List Price		Days on Market		Data Source
		$
Subject property has been listed within the last 12 months? Data Source: Yes No
12 Month Listing History	List Date	List Price		Days on Market		Data Source
		$
		$
Comments on Prior Sales/Transfers and Current and Prior Listings: null
Summary of the Sales Comparison Approach: null
Reconciliation Comments: null
This appraisal is made "as is", or subject to the following conditions or inspections: null
Based on a complete visual inspection of the subject site and those improvements upon said site, defined scope of work, statement of assumptions and limiting conditions, and appraiser's certification, my (our) opinion of market value, as defined, of the real property that is the subject of this report is: Opinion of Market Value: $ , as of: , which is the date of inspection and the effective date of this appraisal.

PROJECT INFORMATION FOR PUDs (if applicable)
Is the developer/builder in control of the Homeowners’ Association (HOA)? Yes No		Unit type(s): Detached: Attached:
Provide the following information for PUDs ONLY if the developer/builder is in control of the HOA and the subject property is an attached dwelling unit.
Legal Name of Project:
Total number of phases:	Total number of units:	Total number of units sold:
Total number of units rented:	Total number of units for sale:	Data sources:
Was the project created by the conversion of existing building(s) into a PUD? If Yes, date of conversion: Yes No
Does the project contain any multi-dwelling units? Data Source: Yes No
Are the units, common elements, and recreation facilities complete? Yes No If No, describe the status of completion: null
Describe common elements and recreational facilities: null