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APPRAISAL OF REAL PROPERTYFHA # 011-8472736
273 Placid Dr
Harvest, AL 35749-8981
See attached addenda.
Meridian Home Mortgage Corp
410 Meadow Creek Dr
Westminister, MD 21158
175,000
08/19/2016
Jason W. Roberts
Accurate Appraisal Services, LLC
23063 Kennedy Rd
Athens, AL 35613
(256)874-6501
Form GA1V - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
LOCATED AT
FOR
OPINION OF VALUE
AS OF
BY
Accurate Appraisal Services, LLC
011-8472736011-8472736
273 Placid Dr Harvest AL 35749-8981
Clarence Turner & Susan Turner Turner, Clarence W & Susan T Madison
See attached addenda.
06-08-28-1-000-058.000 2015 550
Harvest 26620 0105.01
0 0
Meridian Home Mortgage Corp 410 Meadow Creek Dr, Westminister, MD 21158
MLS
25
1,000
150
0
100
20
60
2
2
6
30
Toney to the North, Pulaski Pike to the East, Highway 72 to the South, and
Mooresville Road to the West.
The neighborhood consist of a Variety of single family dwellings. The present land use other represents schools, parks,
industry, houses of worship, agriculture, and roads/streets.
FHA, VA, and conventional financing are ready available at rates which purchasers
consider attractive. Typical marketing time is over 6 months. See USPAP for Exposure time comments.
150.00x193.70x150.00x194.27 29098 sf Irregular N;Res;
No Zoning No Zoning Typical
Propane septic tank
Asphalt
None
X 01089C0155F 10/02/2014
There were no adverse easements or encroachments noted to subject property.
1
Ranch
2003
10
0
0
Prdcnc/gd
Brk/gd
Dim shngl/gd
Alum/gd
Vinyl/sh/gd
Insulated/gd
Nylon/gd
Wdlm,cpt,wd,tl/gd
Drywall/gd
Crown molding
Tile/gd
Frbglss/gd
Electric 1
Patio
None
0
Wood
Cvrd
None
3
Cnc/grvl
2
0
9 4 2.1 1,888
Storm doors, ceiling fans, varied ceiling heights-9ft, vaulted, trey, and cathedral, master suite- 9ft to
10ft ceilings, jetted tub, walk in closet, carpet/tile, crown molding, recessed lighting, upgraded furniture vanity. Kitchen-laminate counter tops, tile back splash, cathedral ceilings, custom cabinets.
C3;No updates in the prior 15 years;The
improvements are well maintained and feature limited physical depreciation due to normal wear and tear. Some components, but not every major
building component, may be updated or recently rehabilitated. The structure has been well maintained.Windows, roof, gutters, Hvac, fence,
appliances, carpet/wood laminate, paint updated 2011
An observation of the subject property was completed on 08/19/2016 in accordance with the requirements of HUD 4000.1 manual. Any
deficiencies are noted in the appropriate section of the appraisal report. The subject property meets th minimum standards as defined by HUD
MANUAL 4000.1
Form 1004UAD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Uniform Residential Appraisal Report File #
SU
BJE
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CO
NT
RA
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NE
IGH
BO
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OO
DS
ITE
IMP
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ME
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S
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.
Property Address City State Zip Code
Borrower Owner of Public Record County
Legal Description
Assessor's Parcel # Tax Year R.E. Taxes $
Neighborhood Name Map Reference Census Tract
Occupant Owner Tenant Vacant Special Assessments $ PUD HOA $ per year per month
Property Rights Appraised Fee Simple Leasehold Other (describe)
Assignment Type Purchase Transaction Refinance Transaction Other (describe)
Lender/Client Address
Is the subject property currently offered for sale or has it been offered for sale in the twelve months prior to the effective date of this appraisal? Yes No
Report data source(s) used, offering price(s), and date(s).
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.
Contract Price $ Date of Contract Is the property seller the owner of public record? Yes No Data Source(s)
Is there any financial assistance (loan charges, sale concessions, gift or downpayment 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.
Note: Race and the racial composition of the neighborhood are not appraisal factors.
Neighborhood Characteristics
Location Urban Suburban Rural
Built-Up Over 75% 25-75% Under 25%
Growth Rapid Stable Slow
One-Unit Housing Trends
Property Values Increasing Stable Declining
Demand/Supply Shortage In Balance Over Supply
Marketing Time Under 3 mths 3-6 mths Over 6 mths
One-Unit Housing
PRICE
$ (000)
AGE
(yrs)
Low
High
Pred.
Present Land Use %
One-Unit %
2-4 Unit %
Multi-Family %
Commercial %
Other %
Neighborhood Boundaries
Neighborhood Description
Market Conditions (including support for the above conclusions)
Dimensions Area Shape View
Specific Zoning Classification Zoning Description
Zoning Compliance Legal Legal Nonconforming (Grandfathered Use) No Zoning Illegal (describe)
Is the highest and best use of subject property as improved (or as proposed per plans and specifications) the present use? Yes No If No, describe
Utilities Public Other (describe) Public Other (describe)
Electricity
Gas
Water
Sanitary Sewer
Off-site Improvements - Type Public Private
Street
Alley
FEMA Special Flood Hazard Area Yes No FEMA Flood Zone FEMA Map # FEMA Map Date
Are the utilities and off-site improvements typical for the market area? Yes No If No, describe
Are there any adverse site conditions or external factors (easements, encroachments, environmental conditions, land uses, etc.)? Yes No If Yes, describe
General Description
Units One One with Accessory Unit
# of Stories
Type Det. Att. S-Det./End Unit
Existing Proposed Under Const.
Design (Style)
Year Built
Effective Age (Yrs)
Foundation
Concrete Slab Crawl Space
Full Basement Partial Basement
Basement Area sq.ft.
Basement Finish %
Outside Entry/Exit Sump Pump
Evidence of Infestation
Dampness Settlement
Exterior Description materials/condition
Foundation Walls
Exterior Walls
Roof Surface
Gutters & Downspouts
Window Type
Storm Sash/Insulated
Screens
Interior materials/condition
Floors
Walls
Trim/Finish
Bath Floor
Bath Wainscot
Attic None
Drop Stair Stairs
Floor Scuttle
Finished Heated
Heating FWA HWBB Radiant
Other Fuel
Cooling Central Air Conditioning
Individual Other
Amenities
Fireplace(s) #
Patio/Deck
Pool
Woodstove(s) #
Fence
Porch
Other
Car Storage None
Driveway # of Cars
Driveway Surface
Garage # of Cars
Carport # of Cars
Att. Det. Built-in
Appliances Refrigerator Range/Oven Dishwasher Disposal Microwave Washer/Dryer Other (describe)
Finished area above grade contains: Rooms Bedrooms Bath(s) Square Feet of Gross Living Area Above Grade
Additional features (special energy efficient items, etc.).
Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc.).
Are there any physical deficiencies or adverse conditions that affect the livability, soundness, or structural integrity of the property? Yes No If Yes, describe
Does the property generally conform to the neighborhood (functional utility, style, condition, use, construction, etc.)? Yes No If No, describe
Freddie Mac Form 70 March 2005 UAD Version 9/2011 Page 1 of 6 Fannie Mae Form 1004 March 2005
011-8472736011-8472736
8 118,500 187,900
17 122,500 187,500
273 Placid Dr
Harvest, AL 35749-8981
N;Res;
Fee Simple
29098 sf
N;Res;
DT1;Ranch
Q3
13
C3
9 4 2.1
1,888
0sf
Average
Hvac
None
2ga3dw
Porch/Patio
Fireplace 1 fp
Fence/Pool/Other Fnc
Appliances r/o,dw,mw
MLS/Tax Assessor
08/19/2016
204 Sara Sista Cir
Harvest, AL 35749
0.64 miles N
165,000
91.67
NALMLS# 1044723;DOM 11
County Tax Assessor/Broker
ArmLth
Conv;1000 0
s07/16;c05/16
N;Res;
Fee Simple
1.2 ac -5,000
N;Res;
DT1;Ranch
Q4 +6,500
~11 0
C4 +5,000
7 4 2.0 +2,000
1,800 +2,640
0sf
Average
Hvac
None
2ga2dw 0
Porch 0
1 fp
Fnc
r/o,mw 0
11,140
6.8
12.8 176,140
MLS/Tax Assessor
08/19/2016
107 Coriander Ln
Harvest, AL 35749
1.35 miles SW
177,000
84.29
NALMLS# 1037875;DOM 39
County Tax Assessor/Broker
ArmLth
VA;5500 0
s04/16;c03/16
N;Res;
Fee Simple
1.0 ac 0
N;Res;
DT1;Ranch
Q3
~15 0
C3
8 3 2.0 +2,000
2,100 -6,360
0sf
Average
Hvac
None
2ga2dw 0
Stoop/Patio 0
1 fp
None noted +2,000
None noted 0
-2,360
1.3
5.9 174,640
MLS/Tax Assessor
08/19/2016
205 Harvest Ridge Dr
Harvest, AL 35749
2.77 miles NW
187,500
91.46
NALMLS# 1027710;DOM 136
County Tax Assessor/Broker
ArmLth
Conv;2000 0
s01/16;c01/16
N;Res;
Fee Simple
19166 sf +5,000
N;Res;
DT1;Ranch
Q3
~10 0
C3
8 4 3.0 -2,000
2,050 -4,860
0sf
Average
Hvac
None
2ga2dw 0
Porch/Patio
1 fp
Fnc/32x20Wksp -10,000
r/o,dw,mw,rf 0
-11,860
6.3
11.7 175,640
MLS/Tax Assessor
08/19/2016
MLS/Tax Assessor
MLS/Tax Assessor
No previous sales of the subject property were noted in the past 36
months per tax records, MLS, appraisal data. No previous sales of the comparable properties were noted in the past 12 months per tax records,
MLS, or appraisal data.
See Sales Comparison Addendum.
175,000
175,000 186,859
The sales comparison approach and the cost approach were used to estimate the market value of the subject property. The sales comparison
approach is believed most indicative of market value. The income approach was not developed due to lack of sales/rental data.
175,000 08/19/2016
Form 1004UAD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Uniform Residential Appraisal Report File #
SA
LE
S C
OM
PA
RIS
ON
AP
PR
OA
CH
RE
CO
NC
ILIA
TIO
N
There are comparable properties currently offered for sale in the subject neighborhood ranging in price from $ to $ .
There are comparable sales in the subject neighborhood within the past twelve months ranging in sale price from $ to $ .
FEATURE SUBJECT COMPARABLE SALE # 1 COMPARABLE SALE # 2 COMPARABLE SALE # 3
Address
Proximity to Subject
Sale Price $ $ $ $
Sale Price/Gross Liv. Area $ sq.ft. $ sq.ft. $ sq.ft. $ sq.ft.
Data Source(s)
Verification Source(s)
VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +(-) $ Adjustment DESCRIPTION +(-) $ Adjustment DESCRIPTION +(-) $ Adjustment
Sales or Financing
Concessions
Date of Sale/Time
Location
Leasehold/Fee Simple
Site
View
Design (Style)
Quality of Construction
Actual Age
Condition
Above Grade Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths
Room Count
Gross Living Area sq.ft. sq.ft. sq.ft. sq.ft.
Basement & Finished
Rooms Below Grade
Functional Utility
Heating/Cooling
Energy Efficient Items
Garage/Carport
Porch/Patio/Deck
Net Adjustment (Total) + - + - + -$ $ $
Adjusted Sale Price
of Comparables $ $ $
Net Adj. %
Gross Adj. %
Net Adj. %
Gross Adj. %
Net Adj. %
Gross Adj. %
I did did not research the sale or transfer history of the subject property and comparable sales. If not, explain
My research did did not reveal any prior sales or transfers of the subject property for the three years prior to the effective date of this appraisal.
Data Source(s)
My 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 Source(s)
Report the results of the research and analysis of the prior sale or transfer history of the subject property and comparable sales (report additional prior sales on page 3).
ITEM SUBJECT COMPARABLE SALE #1 COMPARABLE SALE #2 COMPARABLE SALE #3
Date of Prior Sale/Transfer
Price of Prior Sale/Transfer
Data Source(s)
Effective Date of Data Source(s)
Analysis of prior sale or transfer history of the subject property and comparable sales
Summary of Sales Comparison Approach
Indicated Value by Sales Comparison Approach $
Indicated Value by: Sales Comparison Approach $ Cost Approach (if developed) $ Income Approach (if developed) $
This appraisal is made "as is", subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have been
completed, subject to the following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed, or subject to the
following required inspection based on the extraordinary assumption that the condition or deficiency does not require alteration or repair:
Based on a complete visual inspection of the interior and exterior areas of the subject property, defined scope of work, statement of assumptions and limitingconditions, and appraiser's certification, my (our) opinion of the market value, as defined, of the real property that is the subject of this report is$ , as of , which is the date of inspection and the effective date of this appraisal.
Freddie Mac Form 70 March 2005 UAD Version 9/2011 Page 2 of 6 Fannie Mae Form 1004 March 2005
011-8472736011-8472736
COST APPROACH:
The Cost Approach to Value is relevant in estimating the replacement cost new of properties with an actual age of less than 5 years+/-.
It should be noted that Fannie Mae, Freddie Mac, not require the Cost Approach on houses over 1 year old in actual age. For older
houses, houses with substantial acreage, water or mountain view sites, or historic properties, the Cost Approach is generally not considered to be
an accurate or relevant indicator of value, due to either the reliability of estimating depreciation for an older house or since the site value is typical
more than 25% of the property value.
COST APPROACH:
The omission of either the Cost or Income Approach to Value is not a departure from the Standards Rules of USPAP in cases where the appraiser
has considered the approaches and deemed that they are not relevant to the property being appraised.
The site value was obtained from the subjects
market area noting lot sale data within the past 36 months, current listings available as the effective date of appraisal, and local county tax
assessments.
Marshall & Swift
avg 06/16
25,000
1,888 83.65 157,931
0
prch/pto/fp/applnc 12,850
524 25.30 13,257
184,038
30,679 30,679
153,359
8,500
186,859
Th site value is based on recent land and site-to- value ratios, cost
developed from Marshall & Swift residential cost estimator, and verified
by appraiser's files and local cost data. Physical depreciation is based on
age/life method.
50
The income approach was not developed due to lack of sales/rental data.
Form 1004UAD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Uniform Residential Appraisal Report File #
AD
DIT
ION
AL
CO
MM
EN
TS
CO
ST
AP
PR
OA
CH
INC
OM
EP
UD
IN
FO
RM
AT
ION
COST APPROACH TO VALUE (not required by Fannie Mae)
Provide adequate information for the lender/client to replicate the below cost figures and calculations.
Support for the opinion of site value (summary of comparable land sales or other methods for estimating site value)
ESTIMATED REPRODUCTION OR REPLACEMENT COST NEW
Source of cost data
Quality rating from cost service Effective date of cost data
Comments on Cost Approach (gross living area calculations, depreciation, etc.)
OPINION OF SITE VALUE =$
DWELLING Sq.Ft. @ $ =$
Sq.Ft. @ $ =$
=$
Garage/Carport Sq.Ft. @ $ =$
Total Estimate of Cost-New =$
Less Physical Functional External
Depreciation =$( )
Depreciated Cost of Improvements =$
"As-is" Value of Site Improvements =$
INDICATED VALUE BY COST APPROACH =$Estimated Remaining Economic Life (HUD and VA only) Years
INCOME APPROACH TO VALUE (not required by Fannie Mae)
Estimated Monthly Market Rent $ X Gross Rent Multiplier = $ Indicated Value by Income Approach
Summary of Income Approach (including support for market rent and GRM)
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 source(s)
Was the project created by the conversion of existing building(s) into a PUD? Yes No If Yes, date of conversion.
Does the project contain any multi-dwelling units? Yes No Data Source
Are the units, common elements, and recreation facilities complete? Yes No If No, describe the status of completion.
Are the common elements leased to or by the Homeowners' Association? Yes No If Yes, describe the rental terms and options.
Describe common elements and recreational facilities.
Freddie Mac Form 70 March 2005 UAD Version 9/2011 Page 3 of 6 Fannie Mae Form 1004 March 2005
011-8472736011-8472736
Form 1004UAD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Uniform Residential Appraisal Report File #
This report form is designed to report an appraisal of a one-unit property or a one-unit property with an accessory unit;including a unit in a planned unit development (PUD). This report form is not designed to report an appraisal of amanufactured home or a unit in a condominium or cooperative project.
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 intendeduse, intended user, definition of market value, or assumptions and limiting conditions are not permitted. The appraiser mayexpand the scope of work to include any additional research or analysis necessary based on the complexity of this appraisalassignment. Modifications or deletions to the certifications are also not permitted. However, additional certifications that donot constitute material alterations to this appraisal report, such as those required by law or those related to the appraiser'scontinuing 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 thereporting requirements of this appraisal report form, including the following definition of market value, statement ofassumptions and limiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete visualinspection of the interior and exterior areas of the subject property, (2) inspect the neighborhood, (3) inspect each of thecomparable 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 thesubject of this appraisal for a mortgage finance transaction.
INTENDED USER: The intended user of this appraisal report is the lender/client.
DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and openmarket under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assumingthe price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date andthe passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) bothparties are well informed or well advised, and each acting in what he or she considers his or her own best interest; (3) areasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U. S. dollars or in termsof financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property soldunaffected by special or creative financing or sales concessions* granted by anyone associated with the sale.
*Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments arenecessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs arereadily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financingadjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutionallender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanicaldollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market'sreaction to the financing or concessions based on the appraiser's judgment.
STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification in this report issubject to the following assumptions and limiting conditions:
1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the titleto it, except for information that he or she became aware of during the research involved in performing this appraisal. Theappraiser assumes that the title is good and marketable and will not render any opinions about the title.
2. The appraiser has provided a sketch in this appraisal report to show the approximate dimensions of the improvements.The sketch is included only to assist the reader in visualizing the property and understanding the appraiser's determinationof its size.
3. 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 anidentified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express orimplied, regarding this determination.
4. 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.
5. The appraiser has noted in this appraisal report any adverse conditions (such as needed repairs, deterioration, thepresence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he orshe became aware of during the research involved in performing the appraisal. Unless otherwise stated in this appraisalreport, the appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse conditions of theproperty (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 suchconditions and makes no guarantees or warranties, express or implied. The appraiser will not be responsible for any suchconditions 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, this appraisal report must not be considered asan environmental assessment of the property.
6. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactorycompletion, repairs, or alterations on the assumption that the completion, repairs, or alterations of the subject property willbe performed in a professional manner.
Freddie Mac Form 70 March 2005 UAD Version 9/2011 Page 4 of 6 Fannie Mae Form 1004 March 2005
011-8472736011-8472736
Form 1004UAD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Uniform Residential Appraisal Report File #
APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that:
1. I have, at a minimum, developed and reported this appraisal in accordance with the scope of work requirements stated inthis appraisal report.
2. I performed a complete visual inspection of the interior and exterior areas of the subject property. I reported the conditionof the improvements in factual, specific terms. I identified and reported the physical deficiencies that could affect thelivability, soundness, or structural integrity of the property.
3. I performed this appraisal in accordance with the requirements of the Uniform Standards of Professional AppraisalPractice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were inplace at the time this appraisal report was prepared.
4. I developed my opinion of the market value of the real property that is the subject of this report based on the salescomparison approach to value. I have adequate comparable market data to develop a reliable sales comparison approachfor this appraisal assignment. I further certify that I considered the cost and income approaches to value but did not developthem, unless otherwise indicated in this report.
5. I researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering forsale of the subject property in the twelve months prior to the effective date of this appraisal, and the prior sales of the subjectproperty for a minimum of three years prior to the effective date of this appraisal, unless otherwise indicated in this report.
6. I researched, verified, analyzed, and reported on the prior sales of the comparable sales for a minimum of one year priorto the date of sale of the comparable sale, unless otherwise indicated in this report.
7. I selected and used comparable sales that are locationally, physically, and functionally the most similar to the subject property.
8. I have not used comparable sales that were the result of combining a land sale with the contract purchase price of a home thathas been built or will be built on the land.
9. I have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subjectproperty and the comparable sales.
10. I verified, from a disinterested source, all information in this report that was provided by parties who have a financial interest inthe sale or financing of the subject property.
11. I have knowledge and experience in appraising this type of property in this market area.
12. I am aware of, and have access to, the necessary and appropriate public and private data sources, such as multiple listingservices, tax assessment records, public land records and other such data sources for the area in which the property is located.
13. I obtained the information, estimates, and opinions furnished by other parties and expressed in this appraisal report fromreliable sources that I believe to be true and correct.
14. I have taken into consideration the factors that have an impact on value with respect to the subject neighborhood, subjectproperty, and the proximity of the subject property to adverse influences in the development of my opinion of market value. Ihave noted in this appraisal report any adverse conditions (such as, but not limited to, needed repairs, deterioration, thepresence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) observed during the inspection of thesubject property or that I became aware of during the research involved in performing this appraisal. I have considered theseadverse conditions in my analysis of the property value, and have reported on the effect of the conditions on the value andmarketability of the subject property.
15. I have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, allstatements and information in this appraisal report are true and correct.
16. I stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, whichare subject only to the assumptions and limiting conditions in this appraisal report.
17. I have no present or prospective interest in the property that is the subject of this report, and I have no present orprospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially orcompletely, my analysis and/or opinion of market value in this appraisal report on the race, color, religion, sex, age, maritalstatus, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of thepresent owners or occupants of the properties in the vicinity of the subject property or on any other basis prohibited by law.
18. My employment and/or compensation for performing this appraisal or any future or anticipated appraisals was notconditioned on any agreement or understanding, written or otherwise, that I would report (or present analysis supporting) apredetermined specific value, a predetermined minimum value, a range or direction in value, a value that favors the cause ofany party, or the attainment of a specific result or occurrence of a specific subsequent event (such as approval of a pendingmortgage loan application).
19. I personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report. If Irelied on significant real property appraisal assistance from any individual or individuals in the performance of this appraisalor the preparation of this appraisal report, I have named such individual(s) and disclosed the specific tasks performed in thisappraisal report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to makea change to any item in this appraisal report; therefore, any change made to this appraisal is unauthorized and I will take noresponsibility for it.
20. I identified the lender/client in this appraisal report who is the individual, organization, or agent for the organization thatordered and will receive this appraisal report.
Freddie Mac Form 70 March 2005 UAD Version 9/2011 Page 5 of 6 Fannie Mae Form 1004 March 2005
011-8472736011-8472736
Jason W Roberts
Jason W. Roberts
Accurate Appraisal Services, LLC
23063 Kennedy Rd
Athens, AL 35613
(256)874-6501
08/23/2016
08/19/2016
R01245
AL
09/30/2017
273 Placid Dr
Harvest, AL 35749-8981
175,000
1st National Appraisal Source
Meridian Home Mortgage Corp
410 Meadow Creek Dr, Westminister, MD
21158
Form 1004UAD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Uniform Residential Appraisal Report File #
21. The lender/client may disclose or distribute this appraisal report to: the borrower; another lender at the request of theborrower; the mortgagee or its successors and assigns; mortgage insurers; government sponsored enterprises; othersecondary 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 toobtain the appraiser's or supervisory appraiser's (if applicable) consent. Such consent must be obtained before this appraisalreport may be disclosed or distributed to any other party (including, but not limited to, the public through advertising, publicrelations, news, sales, or other media).
22. I am aware that any disclosure or distribution of this appraisal report by me or the lender/client may be subject to certainlaws and regulations. Further, I am also subject to the provisions of the Uniform Standards of Professional Appraisal Practicethat pertain to disclosure or distribution by me.
23. The borrower, another lender at the request of the borrower, the mortgagee or its successors and assigns, mortgageinsurers, government sponsored enterprises, and other secondary market participants may rely on this appraisal report as partof any mortgage finance transaction that involves any one or more of these parties.
24. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms aredefined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of thisappraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable andvalid as if a paper version of this appraisal report were delivered containing my original hand written signature.
25. Any intentional or negligent misrepresentation(s) contained in this appraisal report may result in civil liability and/orcriminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United StatesCode, Section 1001, et seq., or similar state laws.
SUPERVISORY APPRAISER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that:
1. I directly supervised the appraiser for this appraisal assignment, have read the appraisal report, and agree with the appraiser'sanalysis, opinions, statements, conclusions, and the appraiser's certification.
2. 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.
3. The appraiser identified in this appraisal report is either a sub-contractor or an employee of the supervisory appraiser (or theappraisal firm), is qualified to perform this appraisal, and is acceptable to perform this appraisal under the applicable state law.
4. This appraisal report complies with the Uniform Standards of Professional Appraisal Practice that were adopted andpromulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisalreport was prepared.
5. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms aredefined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of thisappraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable andvalid as if a paper version of this appraisal report were delivered containing my original hand written signature.
APPRAISER
Signature
Name
Company Name
Company Address
Telephone Number
Email Address
Date of Signature and Report
Effective Date of Appraisal
State Certification #
or State License #
or Other (describe) State #
State
Expiration Date of Certification or License
ADDRESS OF PROPERTY APPRAISED
APPRAISED VALUE OF SUBJECT PROPERTY $
LENDER/CLIENT
Name
Company Name
Company Address
Email Address
SUPERVISORY APPRAISER (ONLY IF REQUIRED)
Signature
Name
Company Name
Company Address
Telephone Number
Email Address
Date of Signature
State Certification #
or State License #
State
Expiration Date of Certification or License
SUBJECT PROPERTY
Did not inspect subject property
Did inspect exterior of subject property from street
Date of Inspection
Did inspect interior and exterior of subject property
Date of Inspection
COMPARABLE SALES
Did not inspect exterior of comparable sales from street
Did inspect exterior of comparable sales from street
Date of Inspection
Freddie Mac Form 70 March 2005 UAD Version 9/2011 Page 6 of 6 Fannie Mae Form 1004 March 2005
011-8472736011-8472736
273 Placid Dr
Harvest, AL 35749-8981
N;Res;
Fee Simple
29098 sf
N;Res;
DT1;Ranch
Q3
13
C3
9 4 2.1
1,888
0sf
Average
Hvac
None
2ga3dw
Porch/Patio
Fireplace 1 fp
Fence/Pool/Other Fnc
Appliances r/o,dw,mw
MLS/Tax Assessor
08/19/2016
201 Thunderbird Dr
Harvest, AL 35749
0.52 miles NE
175,000
91.38
NALMLS# 1051006;DOM 15
County Tax Assessor/Broker
Listing
Lp/Sp;-3500 -3,500
Active
N;Res;
Fee Simple
1.0 ac 0
N;Res;
DT1;Ranch
Q3 +6,500
~16 0
C4 +5,000
7 4 2.0 +2,000
1,915 -810
0sf
Average
Hvac
None
2ga1gd3dw -5,000
Stoop/Patio 0
1 fp
Fnc
r/o,dw,mw
4,190
2.4
13.0 179,190
MLS/Tax Assessor
08/19/2016
409 Smith Vasser Rd
Harvest, AL 35749
2.93 miles SW
189,900
87.71
NALMLS# 1046774;DOM 73
County Tax Assessor/Broker
Listing
Lp/Sp;-3800 -3,800
Active
N;Res;
Fee Simple
19824 sf 0
N;Res;
DT1;Ranch
Q3
~8 0
C3
9 3 2.0 +2,000
2,165 -8,310
0sf
Average
Hvac
None
2ga2dw 0
Stoop/S Porch 0
1 fp
None noted +2,000
ra,2ovn,dw,mw -1,000
-9,110
4.8
9.0 180,790
MLS/Tax Assessor
08/19/2016
4 5 6
4 5 6
NONE NOTED
The list price/sales price percentage is 2%.
Form 1004UAD.(AC) - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Uniform Residential Appraisal Report File #
SA
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OM
PA
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ON
AP
PR
OA
CH
SA
LE
HIS
TO
RY
AN
ALY
SIS
/ C
OM
ME
NT
S
FEATURE SUBJECT COMPARABLE SALE # COMPARABLE SALE # COMPARABLE SALE #
Address
Proximity to Subject
Sale Price $ $ $ $
Sale Price/Gross Liv. Area $ sq.ft. $ sq.ft. $ sq.ft. $ sq.ft.
Data Source(s)
Verification Source(s)
VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +(-) $ Adjustment DESCRIPTION +(-) $ Adjustment DESCRIPTION +(-) $ Adjustment
Sales or Financing
Concessions
Date of Sale/Time
Location
Leasehold/Fee Simple
Site
View
Design (Style)
Quality of Construction
Actual Age
Condition
Above Grade Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths
Room Count
Gross Living Area sq.ft. sq.ft. sq.ft. sq.ft.
Basement & Finished
Rooms Below Grade
Functional Utility
Heating/Cooling
Energy Efficient Items
Garage/Carport
Porch/Patio/Deck
Net Adjustment (Total) + - + - + -$ $ $
Adjusted Sale Price
of Comparables $ $ $
Net Adj. %
Gross Adj. %
Net Adj. %
Gross Adj. %
Net Adj. %
Gross Adj. %
Report the results of the research and analysis of the prior sale or transfer history of the subject property and comparable sales (report additional prior sales on page 3).
ITEM SUBJECT COMPARABLE SALE # COMPARABLE SALE # COMPARABLE SALE #
Date of Prior Sale/Transfer
Price of Prior Sale/Transfer
Data Source(s)
Effective Date of Data Source(s)
Analysis of prior sale or transfer history of the subject property and comparable sales
Analysis/Comments
Freddie Mac Form 70 March 2005 Fannie Mae Form 1004 March 2005UAD Version 9/2011
Form SUP - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
011-8472736
Clarence Turner & Susan Turner
273 Placid Dr
Harvest Madison AL 35749-8981
Meridian Home Mortgage Corp
FIRREA STATEMENT:
This appraisal report was prepared in accordance with the requirements of Title XI of FIRREA and any implementing
regulations.
TYPE OF REPORT:
This is an "Appraisal Assignment on a UAD 1004 form" which is intended to comply with the reporting requirements of the
USPAP Standards. This appraisal assignment was made subject to the regulations of the Alabama Real Estate Appraiser's
Board. The undersigned state licensed real estate appraiser, has met the requirements of the board, that allow this report to
be regarded as a "Certified Appraisal".
CONDITIONS OF APPRAISAL:
Estimate value as is. This appraisal is in compliance with the USPAP Standards and is considered State Certified.
MARKET APPROACH:
The Sales Comparison Approach, is commonly relied upon as the most relevant indicator of value for single family
residential properties. An extensive search was made by the appraiser of all comparable sales in the market area, with the
intent of analyzing those open-market, arms-length sales which are the most similar in location, design, and amenities to the
subject. Every effort is made to find sales within the Fannie Mae recommended guidelines with respect to distance from
subject, date of sale, percentage adjustments or similarity in other features and amenities. Since the most comparable sales
may be over six months old, further away from the subject, requiring excessive adjustments and or dissimilar in other
features and amenities, an explanation of deviation from the guidelines is made for these factors. The adjustments made
for amenities are extracted from the specific market of the subject, when possible, and will differ from one neighborhood to
another and at times within the subject's neighborhood when there are large differences in amenities such as size, site size,
condition, etc. When data requires, adjustments may be supported by market data from subject's overall market area. The
square footage adjustment is extracted from the market, and after removing the estimated site value and other contributory
amenities, ( garages, etc.) , the remaining factor should reflect the marginal incremental value of any differences in square
footage. Adjustments are then applied for differences between the sales and the subject property. After adjustments are
made for differences between the sales and the subject property, the indicated values are weighted to give the most weight
to the more comparable and or relevant data.
Comparable sales over one mile away were used because they are the best available in this neighborhood. Expanding the
search to a radius greater than 1 mile developed sales that are still within the same market. These sales are the best
comparables to the subject property and are therefore used in this report.
Date of sale time: Due to the limited number of more recent sales directly competitive to the subject property, there
comparables were considered the best available. It's This appraiser's opinion that market conditions have remained
relatively stable over this period and that a "Time" adjustment is not appropriate.
A thorough search for comparables sales was made in in an attempt to find sales with net adjustments of less than 15% and
gross adjustments of less than 25% of their sale price. After considering location, dates of sales, physical difference and
special conditions, in the appraisers judgment, the sales selected are better indicators of the value of the subject property
than those with smaller gross adjustments.
Definition: Highest and best use:
The reasonably probable and legal use of vacant land or an improved property, which is physically possible, appropriately
supported, financially feasible, and that results in the highest value. The four criteria the highest and best use must meet
are legal permissibility, physical possibility, financial feasibility, and maximum productivity. All of the four criteria were
considered when deciding the highest and best use of the subject property.
Supplemental AddendumBorrower
Lender/Client
File No.
Property Address
City County State Zip Code
Form SUP - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
011-8472736
Clarence Turner & Susan Turner
273 Placid Dr
Harvest Madison AL 35749-8981
Meridian Home Mortgage Corp
A thorough search in the subject's market area was performed to determine the most comparable properties to the subject.
The sales utilized are considered to be the most recent and pertinent sales in the subject's marketing area. All comparables
are similar to the subject's terms of overall market appeal. Comparable properties were selected from a search of the
Huntsville MLS for similar living area size, age, quality, neighborhood location and other factors. Adjustments are made from
market data analysis for the contributing value of differences. Lot sale information and allocation of value within the market
area were used as a basis for site adjustments. Gross Living Area (GLA) adjustments are made at $30/SF for
differences of 1SF or greater, and based on market reaction in similar comparable sales. It is generally understood, that age
and condition are related. For this analysis, condition is adjusted first. Any additional market reaction, above that for
condition, is then adjusted on the age line. Amenities such as garage, fences, workshops, sheds, pools, and other items are
adjusted from matched-pair analysis, or by the appraiser's experience and judgment as to their contributing value when such
amenities are less common in the market.
All comparables used in the market analyses are confirmed closed transactions. All comparables offered similar
neighborhood characteristics as the subject property. Major adjustments were noted for site value differences, quality,
bathroom count, gross living area, car storage, fireplaces, and extras. The adjustments made reflect the marketable
difference between the sales and subject resulting in a probable value range. Most consideration given to sale 1 and 2. Sale
1, due to; location/proximity, most recent date of sale (07/2016) age, bedroom, gross living area and car storage. Sale 3,
due to; recent date of sale, site value, quality, age, condition, and car storage. All adjustments were based on the
contributory market value of each relative to the subject.
The resulting indicated value range is between a low of $174,640 to a high of $176,140 The listed comparables were
considered to be the best comparables found and should appeal to similar purchaser.
Sale 1 is considered to be of inferior quality and condition, due to, inferior ceiling heights and lacking of updating.
Sale 2 appears to be updated and of similar quality.
Sale 3 appears to be of similar condition and quality. Sale 3 does include a 32x20 heated & cooled workshop.
Comparable 4(active listing) appears to be of inferior quality(ceiling heights), and inferior condition(lack of updates).
Comparable 5 appears to be of similar quality and condition.
SITE/LOCATION/VIEWThe estimate of value for the difference in location, and view were considered and included in the site value
adjustments.Site value adjustments are based on overall contributory value which includes, but not limited to, location, size,
topography, view, access, and overall appeal. Employment, shopping, schools and medical facilities are all within close
proximity to the subject.
TOTAL ROOM/BEDROOM ADJUSTMENTS:
Unless it has an impact on marketability, the total room count and bedroom adjustments are calculated within the GLA
adjustment.
AGE ADJUSTMENTS:Age adjustments are based off of effective age, not actual age.
Summary of Sales Comparison ApproachBorrower
Lender/Client
File No.
Property Address
City County State Zip Code
Form SUP - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
011-8472736
Clarence Turner & Susan Turner
273 Placid Dr
Harvest Madison AL 35749-8981
Meridian Home Mortgage Corp
The subject dwelling's cabinets were observed and were functioning properly at time of inspection.
The subject's kitchen appliances include a microwave, range/oven, dishwasher, and refrigerator. All appliances were
functioning at time of inspection.
All appliances except the refrigerator were considered real property; the refrigerator was considered personal property due
to not being built-in.
The subject's dwelling's utilities were on and functioning at time of inspection.
No adverse FHA conditions were noted upon inspection.
An inspection of the attic and crawlspace was performed.
The subject's roof was observed and appeared to be functioning properly at time of inspection.
FHA COMMENTSBorrower
Lender/Client
File No.
Property Address
City County State Zip Code
FHA# 011-8472736
The following comments are related to the content of this specific report, and include notations on the analysis of the comparablesales used on page two of the report form. This addendum is an integral part of the report and is essential to anydecision-making related to the subject property.
APPRAISAL DEVELOPMENT AND REPORTING PROCESS
This is an appraisal report which is intended to comply with the reporting requirements set forth under standards rule 2-2(A) ofthe Uniform Standards of Professional Appraisal Practice for an appraisal report. As such, it presents only summary discussionsof the data, reasoning, and analysis that were used in the appraisal process to develop the Appraiser's opinion of value.Supporting documentation that is not provided with the report concerning the data, reasoning, and analysis is retained in theAppraiser's file. The depth of the discussion contained in the report is specific to the needs of the client and for the intended useas stated in the report. The appraiser is not responsible for unauthorized use of this report.
PURPOSE OF THE APPRAISAL
The purpose of this appraisal report is to determine the market value of the real property that is the subject of this report formortgage insurance purposes.
DEFINITION OF MARKET VALUE: Market value is the most probable price which a property should bring in acompetitive 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 saleas of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typicallymotivated; (2) both parties are well informed or well advised, and each acting in what he considers his own best interest; (3) areasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U.S. dollars or in terms offinancial 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.(Fannie Mae)
SCOPE OF THE APPRAISAL
The scope of the appraisal encompasses the necessary research and analysis to prepare a report in accordance with theintended use and the Uniform Standards of Professional Appraisal Practice. Regarding the subject property this involved thefollowing steps:
1. An interior and exterior inspection of the subject property was made on 08/19/2016.
2. Regional, city, county neighborhood data (if included) were based on the information available from the Chamber ofCommerce. The 2010 U.S. Census and local MLS. The neighborhood section was based upon a physical inspection of the areaand data from the local and county Assessor's office.
3. The property data represented in the report was based on a personal inspection of the interior and exterior of the subjectproperty and the exterior of all properties listed as comparables in the appraisal report. Other subject property data was compiledfrom public records of the appropriate Assessor's office and FEMA flood maps.
4. In estimating the highest and best use for the property, an analysis was made of data compiled in the previous three steps.
5. In developing approaches to value, the market data used were collected from office files, other Appraisers, Realtors, buyers,Appraiser data bank, or persons knowledgeable of the subject property marketplace, and/or municipal offices. The comparables'physical data, sales prices and terms have been confirmed by public documents and/or office records, Appraiser data bank, andexterior inspection, unless otherwise noted, (A) all reported sale dates are closing dates from records of the appropriate countyAssessor or as indicated by the Multiple Listing Service. (B) There is no impact on value related to the time span between thecontract dates and closing dates. Information on comparable land and improved sales, rents, construction cost and accrueddepreciation was gathered and analyzed. Slight variations in size will have no effect of the estimate of value.
6. After assembling and analyzing the data defined in this scope of the appraisal, a final estimate of market value was made.The valuation of any parcel of real estate is derived principally through three basic approaches to value: the cost approach,income capitalization approach, and sales comparison approach. From indications of the analysis and the weight recorded toeach, an opinion of value is reached asked upon expert judgment within the outline of the appraisal process.
THE EFFECTIVE DATE OF THIS MARKET VALUE ESTIMATE IS 08/19/2016.
Supplemental Addendum
Form TADD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
011-8472736
Clarence Turner & Susan Turner
273 Placid Dr
Harvest Madison AL 35749-8981
Meridian Home Mortgage Corp
Borrower
Lender/Client
Property Address
City County State Zip Code
File No.
INTENDED USER
FHA and the Mortgagee are the intended users of the appraisal report. The FHA Appraiser does not guarantee that the propertyis free from defects. The appraisal establishes the value of the property for mortgage insurance purposes only.
INTENDED USE
FHA #011-8472736
The intended use of the appraisal is solely to assist FHA in assessing the risk of the property securing the FHA-insuredmortgage (24 CFR 200. 145(b)).
SUBJECT PROPERTY
I have considered and analyzed any current agreement of sale, option, or listing of the property being appraised; if theinformation was available in the normal course of business.
• URAR: Site Comments No adverse easements, encroachments, special assessments, slide areas, illegal or legal nonconforming zoning use weredetected at the time of inspection. • URAR: Sales Comparison Comments • URAR : The final estimate of value is made "AS IS." No warranties are given or implied as to the condition of any mechanical equipmentmentioned in this report.
Supplemental Addendum
Form TADD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
011-8472736
Clarence Turner & Susan Turner
273 Placid Dr
Harvest Madison AL 35749-8981
Meridian Home Mortgage Corp
Borrower
Lender/Client
Property Address
City County State Zip Code
File No.
FHA #011-8472736
SALES COMPARISON APPROACH
Comparable sales over one mile away were used because the best available in this neighborhood. Expanding the search to aradius greater than one mile developed sales that are still within the same market. These sales are the best comparables to thesubject property and are therefore used in this report.
Date of the sale time: Due to the limited number of more recent sales directly competitive to the subject property, thesecomparable sales were considered the best available. It is this Appraiser's opinion that market conditions have remainedrelatively stable over this period and that a "time" adjustment is not appropriate.
Miscellaneous adjustments: Typical adjustments have been made to the comparables for such characteristics as gross livingarea, bath count difference, basement areas, and other amenities based on market observation and analysis. Appropriateadjustments are made for the differences between the comparables and the subject property.
A thorough search for comparable sales was made in an attempt to find ones with net adjustments of less than 15% and grossadjustments of less than 25% of their sale price. After considering locations, dates of sales, physical differences and specialconditions, in the Appraiser's judgment, the sales selected are better indicators of the value of the subject property than thosewith smaller gross adjustments.
COST APPROACH COMMENTS
The cost approach is based on reproduction costs according to Marshall & Swift Residential Cost Estimator and is used forestimating replacement costs for both single and multifamily residences. Physical Depreciation is calculated using the "observedeffective age/total economic life" method based on 60 years. The land value was projected after reviewing land sales in theimmediate area of the subject property.
INCOME APPROACH COMMENTS
Properties in this single-family sub-market are not purchased for their income producing capabilities. This approach is notapplicable to the valuation of the subject property.
Supplemental Addendum
Form TADD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
011-8472736
Clarence Turner & Susan Turner
273 Placid Dr
Harvest Madison AL 35749-8981
Meridian Home Mortgage Corp
Borrower
Lender/Client
Property Address
City County State Zip Code
File No.
FHA #011-8472736
SPECIAL RESTRICTIONS OF APPRAISAL
The subject of this appraisal has been inspected for the sole purpose of estimating its market value as of the date listed in thisreport. This report is not a home inspection and should not be confused with a home inspection made by a qualified constructionexpert or engineer.
Any comments in the report regarding condition pf the property are for appraisal purposes only. We are not experts inconstruction, roofing, plumbing, electrical, heating and air conditioning, or insect infestation. We offer no opinion as to thestructural condition of the property or the condition or adequacy of any portion of the property. We also express no judgment asto the stability of the site either above or below the surface.
Unless otherwise noted, any septic tanks, wells, pools, hot tub, outbuildings, or any other improvement on the property isassumed to be in proper working order; however, no liability is accepted for their condition or adequacy.
If any interested party has a question regarding the condition or adequacy of the property or any of its components, or if aquestion exists regarding the site, it is highly recommended that a construction expert or engineer be hired to make a fullinspection of the property.
Any problems or items of concern found by such an inspection shall not be the responsibility of the appraiser, but must be settledbetween the buyer, seller, lender, or other interested parties.
Supplemental Addendum
Form TADD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
011-8472736
Clarence Turner & Susan Turner
273 Placid Dr
Harvest Madison AL 35749-8981
Meridian Home Mortgage Corp
Borrower
Lender/Client
Property Address
City County State Zip Code
File No.
011-8472736
011-8472736
273 Placid Dr Harvest AL 35749-8981
Clarence Turner & Susan Turner
5
0.83
6
7.2
142,500
156
153,450
146
98.00
6
2.00
5
2.5
151,950
53
159,400
73
97.10
6
2.00
8
4.0
159,200
35
168,000
44
98.99
Seller concessions remain in the 0-6% range. This has been the typical concession range for the past several years. Buy Downs are not typical. Closing costs have changed little in recent years, and appear acceptable to the market.
Comparable REO sales in the subject area are significantly higher in numbers to the entire population of comparable properties. REO sales
tend to sell above the average/median price of similar arms-length sales. For this housing category, REO sales and listings are a significant
factor which affect property values of properties offered at arms-length.
NALMLS
Appraiser’s "Inventory Analysis," "Median Sale & List Price, DOM" and other observations in this addendum are based on the data source
identified above, which appraiser generally believes to be an acceptable source of market data. However, the appraiser cannot verify all of the
information in that data source and cannot guarantee the accuracy of such data or conclusions based thereon. The appraiser also cannot
guarantee future market conditions affecting the subject property. Days on the market for both sales and listings are not reliable due to the fact
that the MLS system does not take into consideration relist in the days on the market.The median comparable sale price indicates increasing.
However, the increase is insignificant and the market is believe to be stable.
Jason W. Roberts
Accurate Appraisal Services, LLC
23063 Kennedy Rd, Athens, AL 35613
R01245 AL
Form 1004MC2 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
File No.Market Conditions Addendum to the Appraisal ReportM
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The purpose of this addendum is to provide the lender/client with a clear and accurate understanding of the market trends and conditions prevalent in the subject
neighborhood. This is a required addendum for all appraisal reports with an effective date on or after April 1, 2009.
Property Address City State ZIP Code
Borrower
Instructions: The appraiser must use the information required on this form as the basis for his/her conclusions, and must provide support for those conclusions, regarding
housing trends and overall market conditions as reported in the Neighborhood section of the appraisal report form. The appraiser must fill in all the information to the extent
it is available and reliable and must provide analysis as indicated below. If any required data is unavailable or is considered unreliable, the appraiser must provide an
explanation. It is recognized that not all data sources will be able to provide data for the shaded areas below; if it is available, however, the appraiser must include the data
in the analysis. If data sources provide the required information as an average instead of the median, the appraiser should report the available figure and identify it as an
average. Sales and listings must be properties that compete with the subject property, determined by applying the criteria that would be used by a prospective buyer of the
subject property. The appraiser must explain any anomalies in the data, such as seasonal markets, new construction, foreclosures, etc.
Inventory Analysis Prior 7–12 Months Prior 4–6 Months Current – 3 Months Overall Trend
Median Sale & List Price, DOM, Sale/List % Prior 7–12 Months Prior 4–6 Months Current – 3 Months
Total # of Comparable Sales (Settled)
Absorption Rate (Total Sales/Months)
Total # of Comparable Active Listings
Months of Housing Supply (Total Listings/Ab.Rate)
Median Comparable Sale Price
Median Comparable Sales Days on Market
Median Comparable List Price
Median Comparable Listings Days on Market
Median Sale Price as % of List Price
Increasing Stable Declining
Increasing Stable Declining
Declining Stable Increasing
Declining Stable Increasing
Overall Trend
Increasing Stable Declining
Declining Stable Increasing
Increasing Stable Declining
Declining Stable Increasing
Increasing Stable Declining
Seller-(developer, builder, etc.)paid financial assistance prevalent? Yes No Declining Stable Increasing
Explain in detail the seller concessions trends for the past 12 months (e.g., seller contributions increased from 3% to 5%, increasing use of buydowns, closing costs, condo
fees, options, etc.).
Are foreclosure sales (REO sales) a factor in the market? Yes No If yes, explain (including the trends in listings and sales of foreclosed properties).
Cite data sources for above information.
Summarize the above information as support for your conclusions in the Neighborhood section of the appraisal report form. If you used any additional information, such as
an analysis of pending sales and/or expired and withdrawn listings, to formulate your conclusions, provide both an explanation and support for your conclusions.
If the subject is a unit in a condominium or cooperative project , complete the following: Project Name:
Subject Project Data Prior 7–12 Months Prior 4–6 Months Current – 3 Months Overall Trend
Total # of Comparable Sales (Settled)
Absorption Rate (Total Sales/Months)
Months of Unit Supply (Total Listings/Ab.Rate)
Total # of Active Comparable Listings
Increasing Stable Declining
Increasing Stable Declining
Declining Stable Increasing
Declining Stable Increasing
Are foreclosure sales (REO sales) a factor in the project? Yes No If yes, indicate the number of REO listings and explain the trends in listings and sales of
foreclosed properties.
Summarize the above trends and address the impact on the subject unit and project.
Signature
Appraiser Name
Company Name
Company Address
State License/Certification # State
Email Address
Signature
Supervisory Appraiser Name
Company Name
Company Address
State License/Certification # State
Email Address
Freddie Mac Form 71 March 2009 Page 1 of 1 Fannie Mae Form 1004MC March 2009
011-8472736
011-8472736
Clarence Turner & Susan Turner
273 Placid Dr
Harvest Madison AL 35749-8981
Meridian Home Mortgage Corp
Estimated exposure time is estimated to be 3-6 months or 90-180 days. EXPOSURE TIME: 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. Definition taken from 2016-2017
USPAP manual.
- The statements of fact contained in this report are true and correct.
- The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions and are my personal, impartial, and unbiased
professional analyses, opinions, and conclusions.
- Unless otherwise indicated, 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 the parties involved with this assignment.
- My engagement in this assignment was not contingent upon developing or reporting predetermined results.
- My 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.
- My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice that
were in effect at the time this report was prepared.
- Unless otherwise indicated, I have made a personal inspection of the property that is the subject of this report.
- Unless otherwise indicated, no one provided significant real property appraisal assistance to the person(s) signing this certification (if there are exceptions, the name of each
individual providing significant real property appraisal assistance is stated elsewhere in this report).
PRIOR SERVICE
To the appraiser's knowledge and belief: I have performed no appraisal reports regarding the property that is the subject of this report
within the three-year period immediately preceding acceptance of this assignment.
Appraiser made extraordinary assumptions for the for the comparables effective age, built dates, site size, room count, condition, livability,
gross living area, porches, patios, decks, and amenities. These assumptions may have an affect on the outcome of the opinion of market
value.
(~) Denotes estimated built dates using the age range provided by NALMLS.
This appraisal was prepared solely for our client(s) and specifically identified intended users(s) and may contain confidential information.
This information is protected by the Gramm-Leach-Bliley Act of 1999 and the confidentiality section of the Ethics Rule of the Uniform
Standards Of Professional Appraisal Practice. Therefore, to transfer or
"re-address" this report to another client or intended user(s) would be a violation of this act and USPAP.
MAP REFERENCE, CENSUS TRACT, AND FLOOD DATA WAS PROVIDED BY ALAMODE SOFTWARE.
ALL COMPARABLES INSPECTED FROM THE STREET.
Jason W. Roberts
08/23/2016
R01245
AL
09/30/2017
08/19/2016
Form ID14AP - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
USPAP ADDENDUM File No.
Borrower
Property Address
City County State Zip Code
Lender
This report was prepared under the following USPAP reporting option:
Appraisal Report This report was prepared in accordance with USPAP Standards Rule 2-2(a).
Restricted Appraisal Report This report was prepared in accordance with USPAP Standards Rule 2-2(b).
Reasonable Exposure TimeMy opinion of a reasonable exposure time for the subject property at the market value stated in this report is:
Additional CertificationsI certify that, to the best of my knowledge and belief:
I have NOT performed 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.
I HAVE performed services, as an appraiser or in another capacity, regarding the property that is the subject of this report within the three-year
period immediately preceding acceptance of this assignment. Those services are described in the comments below.
Additional Comments
APPRAISER:
Signature:
Name:
Date Signed:
State Certification #:
or State License #:
State:
Expiration Date of Certification or License:
Effective Date of Appraisal:
SUPERVISORY APPRAISER: (only if required)
Signature:
Name:
Date Signed:
State Certification #:
or State License #:
State:
Expiration Date of Certification or License:
Supervisory Appraiser Inspection of Subject Property:
Did Not Exterior-only from Street Interior and Exterior
FHA# 011-8472736
Order Form: Legal DescriptionALL THAT PART OF THE NE1/4 OF SEC 28 DESC AS BEG W 682.0 FT W 911.76 FT N 186.0 FT FR THE CEN OF THE EBDRY OF SEC 28 TH FR THE P/O/B N 01 DEG E 150.0 FT E 193.70 FT S 01`DEG W 150.0 FT W 194.27 FT TO THE P/O/B& CONTA 0.67AC M/L SEC 28 T2 R2W
Legal Description
Form TADD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
011-8472736
Clarence Turner & Susan Turner
273 Placid Dr
Harvest Madison AL 35749-8981
Meridian Home Mortgage Corp
Borrower
Lender/Client
Property Address
City County State Zip Code
File No.
Form EC2 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Accurate Appraisal Services, LLC
011-8472736
011-8472736
273 Placid Dr, Harvest, AL 35749-8981
01089C0155F
10/02/2014
Jason W Roberts Certified residential 08/23/2016
ENVIRONMENTAL COMPLIANCE RECORD
SINGLE FAMILY PROPERTY DISPOSITION
FHA CASE NUMBER:
PROPERTY ADDRESS:
COMPLIANCE FINDINGS SOURCE DOCUMENTATION
1. HISTORIC PRESERVATION
Property is is not listed on the National Register ofHistoric Places.
Property is is not located in an Historical District.
Note: An appropriate deed restriction will be required ifproperty meets either of the foregoing conditions.
Checked National Register ofHistorical Places
Checked National Register ofHistorical Places
2. FLOODPLAIN
Property is is not located within the 100-yearfloodplain (Zones A & V).
Note: Flood insurance may be required.
Panel #:
Map #:
Date of Map:
3. AIRPORT RUNWAY CLEAR ZONES (24 CFR 51D)
Property is is not located within boundary of runwayzones.
If so,
** has the airport operator declined to acquire theproperty? Yes No
** a signed disclaimer is required (24 CFR Part 51D).
Property not within 3,000 feet of
the runway clear zone.
4. SUMMARY
Additional actions are are not required on the basis of the findings above. If additional
actions are required, describe them in an attachment.
NOTE: OTHER ENVIRONMENTAL STATUTES, EXECUTIVE ORDERS AND AUTHORITIES
The remaining statutes and authorities cited at 24 CFR 50.4 do not require compliance because theyare not relevant to property disposition actions which do not involve new construction.
Preparer:
Supervisor:
Title:
Title:
Date:
Date:
011-8472736
011-8472736
Clarence Turner & Susan Turner
273 Placid Dr
Harvest Madison AL 35749-8981
Meridian Home Mortgage Corp
Form 69F2 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Borrower
Lender/Client
ENVIRONMENTAL ADDENDUMAPPARENT* HAZARDOUS SUBSTANCES AND/OR DETRIMENTAL ENVIRONMENTAL CONDITIONS
File #
Property Address
City County State Zip Code
*Apparent is defined as that which is visible, obvious, evident or manifest to the appraiser.
This Environmental Addendum is for use with any real estate appraisal. Only the statements which have been marked by the appraiser apply to the Subject property.
This addendum reports the results of the appraiser's routine viewing of and inquiries about the subject property and its surrounding area. It also states what assumptions
were made about any observed evidence of any hazardous substances and/or detrimental environmental conditions. The appraiser is not an expert environmental inspector
and therefore might be unaware of existing hazardous substances and/or detrimental environmental conditions which may have a negative effect on the safety or value of the
property. It is possible that tests and inspections made by a qualified environmental inspector would reveal the existence of hazardous materials and/or detrimental
environmental conditions on or around the property that would negatively affect its safety and value.
DRINKING WATER
Drinking water is supplied to the subject from a municipal water supply which is considered safe. However, the only way to be absolutely certain that the water meetspublished standards is to have it tested at all discharge points.
Drinking water is supplied by a well or other non-municipal source. It is recommended that tests be made to be certain that the property is supplied with adequatedrinking water.
Lead can get into drinking water from its source, the pipes, at all discharge points, plumbing fixtures and/or appliances. The only way to be certain that water doesnot contain an unacceptable lead level is to have it tested at all discharge points.
The opinion of value is based on the assumption that there is an adequate supply of safe, lead-free drinking water.
Comments:
SEWER SYSTEM
Sewage is removed from the property by a municipal sewer system.
Sewage is disposed of by a septic system or other sanitary on-site waste disposal system. The only way to determine that the disposal system is adequate and in goodgood working condition is to have it inspected by a qualified inspector.
The opinion of value is based on the assumption that the sewage is disposed of by a municipal sewer or an adequate properly permitted alternatetreatment system in good condition.
Comments:
SOIL CONTAMINANTS
There are no apparent signs of soil contaminants on or near the subject property (except as stated in Comments, below). It is possible that research, inspection andtesting by a qualified environmental inspector would reveal existing and/or potential hazardous substances and/or detrimental environmental conditions on or aroundthe property that would negatively affect its safety and value.
The opinion of value is based on the assumption that the subject property is free of soil contaminants.
Comments:
ASBESTOS
All or part of the improvements were constructed before 1979 when asbestos was a common building material. The only way to be certain that the property is free offriable and non-friable asbestos is to have it inspected and tested by a qualified asbestos inspector.
The improvements were constructed after 1979. No apparent friable asbestos was observed (except as stated in Comments, below).
The opinion of value is based on the assumption that there is no uncontained friable asbestos or other hazardous asbestos material on the property.
Comments:
PCBs (POLYCHLORINATED BIPHENYLS)
There were no apparent leaking fluorescent light ballasts, capacitors or transformers anywhere on or nearby the property (except as stated in Comments, below).
There was no apparent visible or documented evidence known to the appraiser of soil or groundwater contamination from PCBs anywhere on the property (exceptas reported in Comments below).
The opinion of value is based on the assumption that there are no uncontained PCBs on or nearby the property.
Comments:
RADON
The appraiser is not aware of any radon tests made on the subject property within the past 12 months (except as stated in Comments, below).
The appraiser is not aware of any indication that the local water supplies have been found to have elevated levels of radon or radium.
The appraiser is not aware of any nearby properties (except as stated in Comments, below) that were or currently are used for uranium, thorium or radium extractionor phosphate processing.
The opinion of value is based on the assumption that the Radon level is at or below EPA recommended levels.
Comments:
Form 69F2 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
USTs (UNDERGROUND STORAGE TANKS)
There is no apparent visible or documented evidence known to the appraiser of any USTs on the property nor any known historical use of the property that wouldlikely have had USTs.
There are no apparent petroleum storage and/or delivery facilities (including gasoline stations or chemical manufacturing plants) located on adjacent properties (exceptas reported in Comments below).
There are apparent signs of USTs existing now or in the past on the subject property. It is recommended that an inspection by a qualified UST inspector be obtained todetermine the location of any USTs together with their condition and proper registration if they are active; and if they are inactive, to determine whether they weredeactivated in accordance with sound industry practices.
The opinion of value is based on the assumption that any functioning USTs are not leaking and are properly registered and that any abandoned USTs arefree from contamination and were properly drained, filled and sealed.
Comments:
NEARBY HAZARDOUS WASTE SITES
There are no apparent hazardous waste sites on the subject property or nearby the subject property (except as stated in Comments, below). Hazardous Waste Sitesearch by a trained environmental engineer may determine that there is one or more hazardous waste sites on or in the area of the subject property.
The opinion of value is based on the assumption that there are no hazardous waste sites on or nearby the subject property that negatively affect thevalue or safety of the property.
Comments:
UREA FORMALDEHYDE INSULATION (UFFI)
All or part of the improvements were constructed before 1982 when urea foam insulation was a common building material. The only way to be certain that theproperty is free of urea formaldehyde is to have it inspected by a qualified urea formaldehyde inspector.
The improvements were constructed after 1982. No apparent urea formaldehyde materials were observed (except as stated in Comments, below).
The opinion of value is based on the assumption that there is no significant UFFI insulation or other urea formaldehyde material on the property.
Comments:
LEAD BASED PAINT
All or part of the improvements were constructed before 1978 when lead based paint was a common building material. There is no apparent visible or knowndocumented evidence of peeling or flaking Lead Paint on the floors, walls or ceilings (except as stated in Comments, below). The only way to be certain thatthe property is free of surface or subsurface lead based paint is to have it inspected by a qualified inspector.
The improvements were constructed after 1978. No apparent Lead Paint was observed (except as stated in Comments, below).
The opinion of value is based on the assumption that there is no flaking or peeling Lead Paint on the property.
Comments:
AIR POLLUTION
There are no apparent signs of air pollution at the time of the appraiser's viewing of the subject property, nor were any reported (except as reported in Comments,below). The only way to be certain that the air is free of pollution is to have it tested.
The opinion of value is based on the assumption that the property is free of air pollution.
Comments:
WETLANDS/FLOOD PLAINS
The site does not contain any apparent wetlands/flood plains (except as stated in Comments, below). The only way to be certain that the site is free of wetlands/flood plains is to have it inspected by a qualified environmental professional.
The opinion of value is based on the assumption that there are no Wetlands/Flood Plains on the property (except as stated in Comments, below).
Comments:
MISCELLANEOUS ENVIRONMENTAL HAZARDS
There are no other apparent hazardous substances and/or detrimental environmental conditions on or in the area of the site except as indicated below:
Excess noise
Radiation and/or electromagnetic radiation
Light pollution
Waste heat
Acid mine drainage
Agricultural pollution
Geological hazards
Nearby hazardous property
Infectious medical wastes
Pesticides
Other (chemical storage, drums, pipelines, etc.)
The opinion of value is based on the assumption that, except as reported above, there are no other environmental hazards that would negatively affect the value ofthe subject property.
When any of the environmental assumptions made in this addendum are not correct, the opinion of value in this appraisal may be affected.
03/10
011-8472736
011-8472736
Jason W. Roberts
R01245
AL 09/30/2017
"No employee, director, officer, or agent of the lender, or any other third party acting as a joint venture
partner, independent contractor, appraisal management company or partner on behalf of the lender has
influenced or attempted to influence the development, reporting, result, or review of this assignment through
coercion, extortion, collusion, compensation, instruction, inducement, intimidation, bribery or in any other
manner. I have not been contacted by anyone other than the intended user (lender/client) as identified on
the first page of the report, borrower or designated contact to make an appointment to enter the property."
Additional technical support on this report was provided by office personnel .
Form DISA_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
APPRAISER DISCLOSURE STATEMENT
File No.
Name of Appraiser:
Class of Certification/Licensure: Certified General
Certified Residential
Licensed Residential
Temporary General Licensed
Certification/Licensure Number:
Certification/Licensure State: Expires:
Scope: This Report is within the scope of my Certification or License
is not within the scope of my Certification or License
Service Provided By: Disinterested & Unbiased Third Party
Interested & Biased Third Party
Interested Third Party on Contingent Fee Basis
Signature of person preparing and reporting the Appraisal:
This form must be included in conjunction with all appraisal assignments or specialized services
performed by a state-certified or state-licensed real estate appraiser.
011-8472736
011-8472736
Form UADDEFINE - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
File No.
UNIFORM APPRAISAL DATASET (UAD) DEFINITIONS ADDENDUM(Source: Fannie Mae UAD Appendix D: UAD Field-Specific Standardization Requirements)
Condition Ratings and Definitions
C1
The improvements have been very recently constructed and have not previously been occupied. The entire structure and all components are new
and the dwelling features no physical depreciation.*
*Note: Newly constructed improvements that feature recycled materials and/or components can be considered new dwellings provided that the
dwelling is placed on a 100% new foundation and the recycled materials and the recycled components have been rehabilitated/re-manufactured
into like-new condition. Recently constructed improvements that have not been previously occupied are not considered “new” if they have any
significant physical depreciation (i.e., newly constructed dwellings that have been vacant for an extended period of time without adequate
maintenance or upkeep).
C2
The improvements feature no deferred maintenance, little or no physical depreciation, and require no repairs. Virtually all building components
are new or have been recently repaired, refinished, or rehabilitated. All outdated components and finishes have been updated and/or replaced
with components that meet current standards. Dwellings in this category either are almost new or have been recently completely renovated and
are similar in condition to new construction.
C3
The improvements are well maintained and feature limited physical depreciation due to normal wear and tear. Some components, but not every
major building component, may be updated or recently rehabilitated. The structure has been well maintained.
C4
The improvements feature some minor deferred maintenance and physical deterioration due to normal wear and tear. The dwelling has been
adequately maintained and requires only minimal repairs to building components/mechanical systems and cosmetic repairs. All major building
components have been adequately maintained and are functionally adequate.
C5
The improvements feature obvious deferred maintenance and are in need of some significant repairs. Some building components need repairs,
rehabilitation, or updating. The functional utility and overall livability is somewhat diminished due to condition, but the dwelling remains
useable and functional as a residence.
C6
The improvements have substantial damage or deferred maintenance with deficiencies or defects that are severe enough to affect the safety,
soundness, or structural integrity of the improvements. The improvements are in need of substantial repairs and rehabilitation, including many
or most major components.
Quality Ratings and Definitions
Q1
Dwellings with this quality rating are usually unique structures that are individually designed by an architect for a specified user. Such
residences typically are constructed from detailed architectural plans and specifications and feature an exceptionally high level of workmanship
and exceptionally high-grade materials throughout the interior and exterior of the structure. The design features exceptionally high-quality
exterior refinements and ornamentation, and exceptionally high-quality interior refinements. The workmanship, materials, and finishes
throughout the dwelling are of exceptionally high quality.
Q2
Dwellings with this quality rating are often custom designed for construction on an individual property owner’s site. However, dwellings in
this quality grade are also found in high-quality tract developments featuring residence constructed from individual plans or from highly
modified or upgraded plans. The design features detailed, high quality exterior ornamentation, high-quality interior refinements, and detail. The
workmanship, materials, and finishes throughout the dwelling are generally of high or very high quality.
Q3
Dwellings with this quality rating are residences of higher quality built from individual or readily available designer plans in above-standard
residential tract developments or on an individual property owner’s site. The design includes significant exterior ornamentation and interiors
that are well finished. The workmanship exceeds acceptable standards and many materials and finishes throughout the dwelling have been
upgraded from “stock” standards.
Q4
Dwellings with this quality rating meet or exceed the requirements of applicable building codes. Standard or modified standard building plans
are utilized and the design includes adequate fenestration and some exterior ornamentation and interior refinements. Materials, workmanship,
finish, and equipment are of stock or builder grade and may feature some upgrades.
UAD Version 9/2011
Form UADDEFINE - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
UNIFORM APPRAISAL DATASET (UAD) DEFINITIONS ADDENDUM(Source: Fannie Mae UAD Appendix D: UAD Field-Specific Standardization Requirements)
Quality Ratings and Definitions (continued)
Q5
Dwellings with this quality rating feature economy of construction and basic functionality as main considerations. Such dwellings feature a
plain design using readily available or basic floor plans featuring minimal fenestration and basic finishes with minimal exterior ornamentation
and limited interior detail. These dwellings meet minimum building codes and are constructed with inexpensive, stock materials
with limited refinements and upgrades.
Q6
Dwellings with this quality rating are of basic quality and lower cost; some may not be suitable for year-round occupancy. Such dwellings
are often built with simple plans or without plans, often utilizing the lowest quality building materials. Such dwellings are often built or
expanded by persons who are professionally unskilled or possess only minimal construction skills. Electrical, plumbing, and other mechanical
systems and equipment may be minimal or non-existent. Older dwellings may feature one or more substandard or non-conforming additions
to the original structure
Definitions of Not Updated, Updated, and Remodeled
Not Updated
Little or no updating or modernization. This description includes, but is not limited to, new homes.
Residential properties of fifteen years of age or less often reflect an original condition with no updating, if no major
components have been replaced or updated. Those over fifteen years of age are also considered not updated if the
appliances, fixtures, and finishes are predominantly dated. An area that is ‘Not Updated’ may still be well maintained
and fully functional, and this rating does not necessarily imply deferred maintenance or physical/functional deterioration.
Updated
The area of the home has been modified to meet current market expectations. These modifications
are limited in terms of both scope and cost.
An updated area of the home should have an improved look and feel, or functional utility. Changes that constitute
updates include refurbishment and/or replacing components to meet existing market expectations. Updates do not
include significant alterations to the existing structure.
Remodeled
Significant finish and/or structural changes have been made that increase utility and appeal through
complete replacement and/or expansion.
A remodeled area reflects fundamental changes that include multiple alterations. These alterations may include
some or all of the following: replacement of a major component (cabinet(s), bathtub, or bathroom tile), relocation
of plumbing/gas fixtures/appliances, significant structural alterations (relocating walls, and/or the addition of)
square footage). This would include a complete gutting and rebuild.
Explanation of Bathroom Count
Three-quarter baths are counted as a full bath in all cases. Quarter baths (baths that feature only a toilet) are not
included in the bathroom count. The number of full and half baths is reported by separating the two values using a
period, where the full bath count is represented to the left of the period and the half bath count is represented to the
right of the period.
Example:
3.2 indicates three full baths and two half baths.
UAD Version 9/2011
Form UADDEFINE - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
UNIFORM APPRAISAL DATASET (UAD) DEFINITIONS ADDENDUM(Source: Fannie Mae UAD Appendix D: UAD Field-Specific Standardization Requirements)
Abbreviations Used in Data Standardization Text
Abbreviation Full Name Fields Where This Abbreviation May Appearac Acres Area, Site
AdjPrk Adjacent to Park Location
AdjPwr Adjacent to Power Lines Location
A Adverse Location & View
ArmLth Arms Length Sale Sale or Financing Concessions
ba Bathroom(s) Basement & Finished Rooms Below Grade
br Bedroom Basement & Finished Rooms Below Grade
B Beneficial Location & View
Cash Cash Sale or Financing Concessions
CtySky City View Skyline View View
CtyStr City Street View View
Comm Commercial Influence Location
c Contracted Date Date of Sale/Time
Conv Conventional Sale or Financing Concessions
CrtOrd Court Ordered Sale Sale or Financing Concessions
DOM Days On Market Data Sources
e Expiration Date Date of Sale/Time
Estate Estate Sale Sale or Financing Concessions
FHA Federal Housing Authority Sale or Financing Concessions
GlfCse Golf Course Location
Glfvw Golf Course View View
Ind Industrial Location & View
in Interior Only Stairs Basement & Finished Rooms Below Grade
Lndfl Landfill Location
LtdSght Limited Sight View
Listing Listing Sale or Financing Concessions
Mtn Mountain View View
N Neutral Location & View
NonArm Non-Arms Length Sale Sale or Financing Concessions
BsyRd Busy Road Location
o Other Basement & Finished Rooms Below Grade
Prk Park View View
Pstrl Pastoral View View
PwrLn Power Lines View
PubTrn Public Transportation Location
rr Recreational (Rec) Room Basement & Finished Rooms Below Grade
Relo Relocation Sale Sale or Financing Concessions
REO REO Sale Sale or Financing Concessions
Res Residential Location & View
RH USDA - Rural Housing Sale or Financing Concessions
s Settlement Date Date of Sale/Time
Short Short Sale Sale or Financing Concessions
sf Square Feet Area, Site, Basement
sqm Square Meters Area, Site
Unk Unknown Date of Sale/Time
VA Veterans Administration Sale or Financing Concessions
w Withdrawn Date Date of Sale/Time
wo Walk Out Basement Basement & Finished Rooms Below Grade
wu Walk Up Basement Basement & Finished Rooms Below Grade
WtrFr Water Frontage Location
Wtr Water View View
Woods Woods View View
Other Appraiser-Defined Abbreviations
Abbreviation Full Name Fields Where This Abbreviation May Appear
UAD Version 9/2011
Form PICPIX.SR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Subject Photo Page FHA #011-8472736
Clarence Turner & Susan Turner
273 Placid Dr
Harvest Madison AL 35749-8981
Meridian Home Mortgage Corp
Subject Front
Sales Price
Gross Living Area
Total Rooms
Total Bedrooms
Total Bathrooms
Location
View
Site
Quality
Age
273 Placid Dr
1,888
9
4
2.1
N;Res;
N;Res;
29098 sf
Q3
13
Subject Rear
Subject Street
Borrower
Lender/Client
Property Address
City County State Zip Code
Form PIC12_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Photograph Addendum FHA #011-8472736
Clarence Turner & Susan Turner
273 Placid Dr
Harvest Madison AL 35749-8981
Meridian Home Mortgage Corp
Street Right side Left side
Shed no value given Attic Garage
Borrower
Lender/Client
Property Address
City County State Zip Code
Form PICPIX.SI - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Subject Interior Photo Page FHA #011-8472736
Clarence Turner & Susan Turner
273 Placid Dr
Harvest Madison AL 35749-8981
Meridian Home Mortgage Corp
Foyer
Sales Price
Gross Living Area
Total Rooms
Total Bedrooms
Total Bathrooms
Location
View
Site
Quality
Age
273 Placid Dr
1,888
9
4
2.1
N;Res;
N;Res;
29098 sf
Q3
13
Dining
Living
Borrower
Lender/Client
Property Address
City County State Zip Code
Form PICPIX.SI - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Subject Interior Photo Page FHA #011-8472736
Clarence Turner & Susan Turner
273 Placid Dr
Harvest Madison AL 35749-8981
Meridian Home Mortgage Corp
Bedroom
Sales Price
Gross Living Area
Total Rooms
Total Bedrooms
Total Bathrooms
Location
View
Site
Quality
Age
273 Placid Dr
1,888
9
4
2.1
N;Res;
N;Res;
29098 sf
Q3
13
Bedroom
Bath
Borrower
Lender/Client
Property Address
City County State Zip Code
Form PICPIX.SI - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Subject Interior Photo Page FHA #011-8472736
Clarence Turner & Susan Turner
273 Placid Dr
Harvest Madison AL 35749-8981
Meridian Home Mortgage Corp
Master Bedroom
Sales Price
Gross Living Area
Total Rooms
Total Bedrooms
Total Bathrooms
Location
View
Site
Quality
Age
273 Placid Dr
1,888
9
4
2.1
N;Res;
N;Res;
29098 sf
Q3
13
Master Bath
Master Bath
Borrower
Lender/Client
Property Address
City County State Zip Code
Form PICPIX.SI - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Subject Interior Photo Page FHA #011-8472736
Clarence Turner & Susan Turner
273 Placid Dr
Harvest Madison AL 35749-8981
Meridian Home Mortgage Corp
Master Bath
Sales Price
Gross Living Area
Total Rooms
Total Bedrooms
Total Bathrooms
Location
View
Site
Quality
Age
273 Placid Dr
1,888
9
4
2.1
N;Res;
N;Res;
29098 sf
Q3
13
Kitchen
Kitchen
Borrower
Lender/Client
Property Address
City County State Zip Code
Form PICPIX.SI - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Subject Interior Photo Page FHA #011-8472736
Clarence Turner & Susan Turner
273 Placid Dr
Harvest Madison AL 35749-8981
Meridian Home Mortgage Corp
Kitchen
Sales Price
Gross Living Area
Total Rooms
Total Bedrooms
Total Bathrooms
Location
View
Site
Quality
Age
273 Placid Dr
1,888
9
4
2.1
N;Res;
N;Res;
29098 sf
Q3
13
Breakfast
Laundry
Borrower
Lender/Client
Property Address
City County State Zip Code
Form PICPIX.SI - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Subject Interior Photo Page FHA #011-8472736
Clarence Turner & Susan Turner
273 Placid Dr
Harvest Madison AL 35749-8981
Meridian Home Mortgage Corp
Bath (half)
Sales Price
Gross Living Area
Total Rooms
Total Bedrooms
Total Bathrooms
Location
View
Site
Quality
Age
273 Placid Dr
1,888
9
4
2.1
N;Res;
N;Res;
29098 sf
Q3
13
Bath (half)
Bedroom
Borrower
Lender/Client
Property Address
City County State Zip Code
Form PICPIX.CR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Comparable Photo Page FHA #011-8472736
Clarence Turner & Susan Turner
273 Placid Dr
Harvest Madison AL 35749-8981
Meridian Home Mortgage Corp
Comparable 1
Prox. to Subject
Sale Price
Gross Living Area
Total Rooms
Total Bedrooms
Total Bathrooms
Location
View
Site
Quality
Age
204 Sara Sista Cir
0.64 miles N
165,000
1,800
7
4
2.0
N;Res;
N;Res;
1.2 ac
Q4
~11
Comparable 2
Prox. to Subject
Sale Price
Gross Living Area
Total Rooms
Total Bedrooms
Total Bathrooms
Location
View
Site
Quality
Age
107 Coriander Ln
1.35 miles SW
177,000
2,100
8
3
2.0
N;Res;
N;Res;
1.0 ac
Q3
~15
Comparable 3
Prox. to Subject
Sale Price
Gross Living Area
Total Rooms
Total Bedrooms
Total Bathrooms
Location
View
Site
Quality
Age
205 Harvest Ridge Dr
2.77 miles NW
187,500
2,050
8
4
3.0
N;Res;
N;Res;
19166 sf
Q3
~10
Borrower
Lender/Client
Property Address
City County State Zip Code
Form PICPIX.CR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Comparable Photo Page FHA #011-8472736
Clarence Turner & Susan Turner
273 Placid Dr
Harvest Madison AL 35749-8981
Meridian Home Mortgage Corp
Comparable 4
Prox. to Subject
Sales Price
Gross Living Area
Total Rooms
Total Bedrooms
Total Bathrooms
Location
View
Site
Quality
Age
201 Thunderbird Dr
0.52 miles NE
175,000
1,915
7
4
2.0
N;Res;
N;Res;
1.0 ac
Q3
~16
Comparable 5
Prox. to Subject
Sales Price
Gross Living Area
Total Rooms
Total Bedrooms
Total Bathrooms
Location
View
Site
Quality
Age
409 Smith Vasser Rd
2.93 miles SW
189,900
2,165
9
3
2.0
N;Res;
N;Res;
19824 sf
Q3
~8
Comparable 6
Prox. to Subject
Sales Price
Gross Living Area
Total Rooms
Total Bedrooms
Total Bathrooms
Location
View
Site
Quality
Age
Borrower
Lender/Client
Property Address
City County State Zip Code
Form SKT.BLDSKI - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Building Sketch FHA #011-8472736
Clarence Turner & Susan Turner
273 Placid Dr
Harvest Madison AL 35749-8981
Meridian Home Mortgage Corp
Borrower
Lender/Client
First Floor
[2412.58 Sq ft]
12'
0.6'
6.3
'
0.6'
15'
14.9' 4'
7.5'
4'
13.8' 4'
12.4'
4'
22'
35'
23.1'
6.5
'17.5'6.5
'
13.5'
1.7
'
16.5'
Concrete Patio
[165.6 Sq ft]
8'
13.8'
8'
4'
13.8' 4'
Covered porch
[87.5 Sq ft]17.5'
5'
17.5'
5'
2 Car Attached
[-524.37 Sq ft]
23.1'
22.7
'
23.1'
22.7
'
FoyerDining
Living
BedroomBedroom
Bath
Master BedroomMaster Bath
Kitchen
Breakfast
Laundry
Bath (half)Bedroom
TOTAL Sketch by a la mode, inc. Area Calculations Summary
Living Area Calculation Details
2 Car Attached -524.37 Sq ft 22.7 × 23.1 = 524.37
First Floor 2412.58 Sq ft 6.3 × 0.6 = 3.78
7.5 × 4 = 30
12.4 × 4 = 49.6
35 × 23.1 = 808.5
28.5 × 17.5 = 498.75
30 × 33.3 = 999
13.5 × 1.7 = 22.95
Total Living Area (Rounded): 1888 Sq ft
Non-living Area
Concrete Patio 165.6 Sq ft 13.8 × 12 = 165.6
Covered porch 87.5 Sq ft 17.5 × 5 = 87.5
Property Address
City County State Zip Code
Form MAP.LOC - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Location Map FHA #011-8472736
Clarence Turner & Susan Turner
273 Placid Dr
Harvest Madison AL 35749-8981
Meridian Home Mortgage Corp
Borrower
Lender/Client
Property Address
City County State Zip Code