Residential Appraisal Report
230803
File No.
Appraiser's Certification The appraiser(s) certifies that, to the best of the appraiser's knowledge and belief: 1. The statements of fact contained in this report are true and correct. 2. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions and are the appraiser's personal, impartial, and unbiased professional analyses, opinions, and conclusions. 3. Unless otherwise stated, the appraiser has no present or prospective interest in the property that is the subject of this report and has no personal interest with respect to the parties involved.
4. The appraiser has no bias with respect to the property that is the subject of this report or to the parties involved with this assignment. 5. The appraiser's engagement in this assignment was not contingent upon developing or reporting predetermined results.
6. The appraiser's compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. 7. The appraiser's analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice. 8. Unless otherwise noted, the appraiser has made a personal inspection of the property that is the subject of this report. 9. Unless noted below, no one provided significant real property appraisal assistance to the appraiser signing this certification. Significant real property appraisal assistance provided by: Appraisers in the State of Michigan are regulated by the Department of Licensing and Regulatory Affairs.P.O. Box 30018, Lansing, Michigan, 48909. I have performed no other services, as an appraiser or in any other capacity, regarding the property that is the subject of the work under review within the three-year period immediately preceding acceptance of this assignment.
Additional Certifications:
The intended user of this appraisal report is Lender/Client. The intended use is to evaluate the property that is the subject of this appraisal for collateral assessment, subject to the stated scope of work, purpose of the appraisal, reporting requirements of the appraisal report form and definition of market value. No additional intended users are identified by the appraiser.
There are limiting conditions associated with this report as are outlined in the addenda section of the appraisal.
The subject property has been inspected by a geographically competent appraiser; the market area has been analyzed; the market area has been researched for similar sales; all conclusions have been reported in a summary format. Data regarding comparables provided strictly by the source quoted in the sales comparison grid. Unless otherwise noted, the appraiser has taken the extraordinary assumption that the electrical, mechanical and plumbing systems are in working order in their entirety.
The appraiser has not performed any prior services, appraisal or valuation assignments relating to the subject property within the past (3) three years as an appraiser, or in any other capacity. The appraiser has read and is in compliance with Fannie Mae Appraiser Independence Requirements.
Fannie Mae X
Definition of Value: Source of Definition:
Market Value
Other Value:
Market value is the most probable price that 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, 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: •buyer and seller are typically motivated; •both parties are well informed or well advised, and each acting in what he or she considers his/her own best interest; •a reasonable time is allowed for exposure in the open market; •payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and •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.
ADDRESS OF THE PROPERTY APPRAISED:
Three Rivers, MI 49093 17220 Limberlost Road
EFFECTIVE DATE OF THE APPRAISAL: APPRAISED VALUE OF THE SUBJECT PROPERTY $ 08/09/2023
320,000
APPRAISER
SUPERVISORY APPRAISER
Signature: Name: Company Name: Company Address:
Signature: Name: Company Name: Company Address:
Erich R Schacht III
8944 W. RS Avenue ESI Appraisals
Schoolcraft, MI 49087
1204003454 erich.schacht@gmail.com 269.324.8980
Telephone Number: Email Address: State Certification # or License # or Other (describe):
Telephone Number: Email Address: State Certification # or License # State: Expiration Date of Certification or License: Date of Signature:
State #:
MI
State: Expiration Date of Certification or License: Date of Signature and Report:
07/31/2024
08/09/2023 08/11/2023
Date of Property Viewing: Degree of property viewing: Interior and Exterior
Date of Property Viewing: Degree of property viewing: Interior and Exterior X
Exterior Only
Did not personally view
Exterior Only
Did not personally view
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This form Copyright © 2005-2016 ACI, a First American Company. All Rights Reserved. (gPAR™) General Purpose Appraisal Report 3/2017 GPARSUM_17 03272017
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