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File No. Bill Cobb Pre-Listing Sample PreListingSample SAMPLE PRE-LISTING APPRAISAL REPORT OF THE REAL PROPERTY LOCATED AT 12345 Hickory Ridge Blvd Baton Rouge, LA 70810 SAMPLE PRE-LISTING APPRAISAL REPORT for Sample Client 12345 Hickory Ridge Blvd Baton Rouge, LA 70800 as of 01/01/2015 by William D. Cobb, CREA P.O. Box 40515 Baton Rouge, LA 70835-0515 SAMPLE PRE-LISTING APPRAISAL REPORT SAMPLE PRE-LISTING APPRAISAL REPORT Accurate Valuations Group, LLC

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NOTE: Address, maps, sketch, photos, and verbiage has been modified on purpose for the confidentiality of any previous appraisals completed. Yes, a typical report would include my signature and license. NOTE: Yes, I did have the Louisiana Real Estate Appraisal Board review my Appraisal to make sure it meets their approval and this was their response: "It appears to be USPAP compliant to me. But, as with all things appraisal, it depends on what is in the work file."

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  • File No.Bill Cobb Pre-Listing Sample

    PreListingSample

    SAMPLE PRE-LISTING APPRAISAL REPORT

    OF THE REAL PROPERTY LOCATED AT

    12345 Hickory Ridge BlvdBaton Rouge, LA 70810

    SAMPLE PRE-LISTING APPRAISAL REPORTfor

    Sample Client12345 Hickory Ridge BlvdBaton Rouge, LA70800

    as of

    01/01/2015

    by

    William D. Cobb, CREAP.O. Box 40515Baton Rouge, LA 70835-0515

    SAMPLE PRE-LISTING APPRAISAL REPORT

    SAMPLE PRE-LISTING APPRAISAL REPORT

    Accurate Valuations Group, LLC

    WilliamHighlight

    WilliamHighlight

  • File No.

    Borrower or Owner

    Property Address

    City County State Zip Code

    Lender or Client

    APPRAISER: SUPERVISORY APPRAISER (ONLY IF REQUIRED):Signature: Signature:

    Name: Name:

    Date Signed: Date Signed:

    State Certification #: State Certification #:

    or State License #: or State License #:

    State: State:

    Expiration Date of Certification or License: Expiration Date of Certification or License:

    Did Did Not Inspect Property

    Bill Cobb Pre-Listing SamplePreListingSample

    PRE-LISTING APPRAISAL COMMENTARYSample Client12345 Hickory Ridge Blvd

    Baton Rouge East Baton Rouge Parish LA 70810Sample Client

    NOTE:This is a Bill Cobb Appraiser Pre-Listing Appraisal Sample Report where the addresses, maps, sketch,photos, verbiage has been modified on purpose for the confidentiality of any previous appraisals completed.

    William D. CobbJune 1, 2015

    851

    LA12/31/2015

    Accurate Valuations Group, LLC

    WilliamHighlight

  • File No.

    Borrower or Owner

    Property Address

    City County State Zip Code

    Lender or Client

    Bill Cobb Pre-Listing SamplePreListingSample

    PRE-LISTING APPRAISAL COMMENTARYSample Client12345 Hickory Ridge Blvd

    Baton Rouge East Baton Rouge Parish LA 70810Sample Client

    RECOMMENDED LISTING PRICE RANGE IS: $115,000 to $125,000

    INTENDED USE - PRE-LISTING:The intended use of this appraisal report is for the establishment of a Pre-Listing Price Range for Homeowner( ) and thier REALTOR to evaluate the property that is the subject of this appraisal. This Home Appraisal WASNOT prepared for mortgage lending purposes.

    HOME VALUE UNDERSTANDING:Comps 1-7 are most recently sold and closest comps available; Comps 8-9 are competing listings. Adjustments for differences in sitevalue, quality (some comps have slab granite counters), condition, # of baths, living area size and other amenities noted. Adjustedsales prices of comps $120,400, $133,200, $123,500, $121,800, $117,600, $107,700 to $114,600, support reconciled recommendedlisting price range of $115,000 to $125,000 opinion. Approximate weight given to each comp: Comp 1 - 20%, Comp 2 - 20%, Comp 3 -20%, Comp 4 - 10%, Comp 5 - 10%, Comp 6 - 10% and Comp 7 - 10%. Current listing comps used adjusted to listing to sales price ratio93% (Wickland Terrace homes in 2015 have sold for 93% of listing price) support $109,800 to $122,500.

    HOW MANY DAYS WILL IT TAKE TO SELL THIS HOME?Comparable Sales 1-7, the most recent comps available, took 154, 13, 16, 291, 33, 158 and 38 days on the market to sell. Comps 8 & 9are Pending Listings and were on the market for 3 & 43 days AND were well prepared for their listings. So, it could take between 3 to 150days to sell this home depending on how well it's prepared for this listing (fresh paint and decluttered on exterior).

    WHAT IS IS COUNTED AS "LIVING AREA" ON THE SKETCH?"Living Area" is generally measured from the exterior perimeter of a home containing the heated and cooled finished areas, such asKitchen, Dining, Bedrooms, Bathrooms, etc..

    WHAT IS COUNTED AS A "ROOM" IN TOTAL ROOM COUNT?Local custom determines the definition of a room. In general, a room is a kitchen, bedroom, living room, den, family room, dininingroom or an office. Bathrooms, laundry rooms, small computer nooks, small sewing area, sun rooms, lofts, closets, small foyers /entries and storage rooms are not usually considered to be rooms.Source: http://www.zillow.com/advice-thread/How-do-I-calculate-the-number-of-rooms-in-a-house/200918/

    I AM NOT A HOME INSPECTOR DISCLOSURE. This appraisal is not a home inspection and the appraiser is not acting as a homeinspector when preparing the report. I fully recommend a home inspection of all mechanical systems and roof to determine the exactcondition/status of these items, whether any repairs need to be made and the estimated economic life remaining for these items. Theborrower has the right to have the home inspected by a professional home inspector;

    When performing the brief and limited inspection of this subject property, the appraiser visually observed areas that were readilyaccessible, including mechanical systems. The appraiser is not required to disturb or move anything that obstructs access orvisibility;

    When completing the appraisal, a visual inspection only was performed. The inspection was not technically exhaustive, in terms of theinspection of mechanical systems. The inspection does not offer warranties or guarantees of any kind;

    The appraiser isn't qualified in the determination of termite and/or infestation damage. There were no obvious evidence/signs withregard to a termite problem at the time of my inspection.

    Accurate Valuations Group, LLC

    WilliamHighlight

    WilliamHighlight

    WilliamHighlight

    WilliamHighlight

  • COPPER MILL SUBDIVISION ZACHARY LA 70791 HOME SALES 2012-2015 YTD

    By Bill Cobb, Greater Baton Rouge's Home Appraiser 225-293-1500

    Based on infor from Greater Baton Rouge Association of REALTORS\MLS 1/1/2012 to 03/06/2015,

    extracted on 03/06/2015.

    $134

    $143

    $141 $138

    $128

    $130

    $132

    $134

    $136

    $138

    $140

    $142

    $144

    2012 2013 2014 2015

    Price Per Square Foot

    Price PerSquare Foot

    Linear (PricePer SquareFoot)

    $365,000

    $372,000

    $408,600

    $362,500

    $330,000

    $340,000

    $350,000

    $360,000

    $370,000

    $380,000

    $390,000

    $400,000

    $410,000

    $420,000

    2012 2013 2014 2015

    Median Sales Price

    Median SalesPrice

    Linear (MedianSales Price)

    4.00%

    3.00%

    1.00%

    3.00%

    0.00%

    0.50%

    1.00%

    1.50%

    2.00%

    2.50%

    3.00%

    3.50%

    4.00%

    4.50%

    2012 2013 2014 2015

    Discount off List Price

    Discount offListings

    Linear(Discount offListings)

    108 88123

    161

    0

    20

    40

    60

    80

    100

    120

    140

    160

    180

    2012 2013 2014 2015

    Days On Market

    Days OnMarket

    Total Numberof Sales

    Linear (DaysOn Market)

  • SUBJ

    ECT I

    NFOR

    MATIO

    NSA

    LES

    PRIC

    ECL

    IENT

    DESC

    RIPT

    ION

    OF IM

    PROV

    EMEN

    TSAP

    PRAI

    SER

    VALU

    E

    SUMMARY OF SALIENT FEATURES

    File No.

    Subject Address

    Legal Description

    City

    County

    State

    Zip Code

    Census Tract

    Map Reference Flood Map No.

    Sale Price $

    Date of Sale

    Borrower / Client

    Lender

    Size (Square Feet)

    Price per Square Foot $

    Location

    Age

    Condition

    Total Rooms

    Bedrooms

    Baths

    Appraiser

    Date of Appraised Value

    Final Estimate of Value $

    Bill Cobb Pre-Listing SamplePreListingSample

    12345 Hickory Ridge Blvd

    Lot 000, Oak Hills

    Baton Rouge

    East Baton Rouge Parish

    LA

    70810

    0040.06

    Metro Key 682-E 22033C0330E

    N/A.

    N/A.

    Sample Client

    Sample Client

    2,556

    131.04

    Sub/Hickory Ridge

    24+/-

    Avg/Needs Repairs

    8

    4

    3.00

    William D. Cobb

    01/01/2015

    300,000 to $400,000

    Accurate Valuations Group, LLC

  • SUBJECT

    NEIGHBORHOOD

    SITE

    IMPROVEMENTS

    QUANTITATIVE

    SALES

    COMPARISON

    ANALYSIS

    Fannie MaeFile No.Desktop Underwriter Quantitative Analysis Appraisal Report

    THIS SUMMARY APPRAISAL IS INTENDED FOR USE BY THE LENDER/CLIENT FOR A MORTGAGE FINANCE TRANSACTION ONLY.

    Property Address City State Zip Code

    Legal Description County

    Assessor's Parcel No. Tax Year R.E. Taxes $ Special Assessments $

    Borrower Current Owner Occupant Owner Tenant Vacant

    Neighborhood or Project Name Project Type PUD Condominium HOA$ /Mo.

    Description / $ amount of loan charges/concessions to be paid by sellerSales Price $ Date of Sale

    Property rights appraised Fee Simple Leasehold Map Reference Census TractNote: Race and the racial composition of the neighborhood are not appraisal factors.

    Location Urban Suburban Rural Property Values Increasing Stable Declining Single family housing Condominium housing

    Built up Over 75% 25-75% Under 25% Demand/supply Shortage In balance Over supplyPRICE AGE PRICE AGE$(000) (yrs) $(000) (yrs)(if applic.)

    Growth rate Rapid Stable Slow Marketing time Under 3 mos. 3-6 mos. Over 6 mos. Low Low

    Neighborhood boundaries High High

    Predominant Predominant

    Dimensions Site area Shape

    Specific zoning classification and description

    Zoning compliance Legal Legal nonconforming (Grandfathered use) Illegal, attach description No zoning

    Highest and best use of subject property as improved (or as proposed per plans and specifications): Present use Other use, attach description.

    Utilities Public Other Public Other Off-site improvements Type Public PrivateElectricity Water Street

    Gas Sanitary sewer Alley

    Are there any apparent adverse site conditions (easements, encroachments, special assessments, slide areas, etc.)? Yes No If Yes, attach description.

    Source(s) used for physical characteristics of property: Interior and exterior inspection Exterior inspection from street Previous appraisal files

    MLS Assessment and tax records Prior inspection Property owner Other (Describe):

    No. of Stories Type (Det./Att.) Exterior Walls Roof Surface Manufactured Housing Yes No

    Does the property generally conform to the neighborhood in terms of style, condition, and construction materials? Yes No If No, attach description.

    Are there any apparent physical deficiencies or conditions that would affect the soundness or structural integrity of the improvements or the livability of the property?

    No If Yes, attach description.Yes

    Are there any apparent adverse environmental conditions (hazardous wastes, toxic substances, etc.) present in the improvements, on the site, or in the immediate

    vicinity of the subject property? No If Yes, attach description.Yes

    I researched the subject market area for comparable listings and sales that are the most similar and proximate to the subject property.

    My research revealed a total of sales ranging in sales price from $ to $ .

    My research revealed a total of listings ranging in list price from $ to $ .

    The analysis of the comparable sales below reflects market reaction to significant variations between the sales and the subject property.FEATURE SUBJECT SALE 1 SALE 2 SALE 3

    Address

    Proximity to Subject

    Sales Price $ $ $ $

    Price/Gross Liv. Area $ $ $ $

    Data & Verification Sources

    VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION + (-) $ Adjus tment DESCRIPTION + (-) $ Adjus tment DESCRIPTION + (-) $ Adjus tment

    Sales or FinancingConcessions

    Date of Sale/Time

    Location

    Site

    View

    Design (Style)

    Actual Age (Yrs.)

    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

    Garage/Carport

    Net Adj. (total) + - $ + - $ + - $

    Adjusted Sales Priceof Comparables $ $ $

    Date of Prior Sale

    Price of Prior Sale $ $ $ $

    Analys is of any current agreement of sale, option, or lis ting of the subject property and analys is of the prior sales of subject and comparables :

    Summary of sales comparison and value conclusion:

    This appraisal is made subject to completion per plans and specifications on the bas is of a hypothetical condition that the improvements have been completed, or"as is ",

    subject to the following repairs , alterations or conditions :BASED ON AN EXTERIOR INSPECTION FROM THE STREET OR AN INTERIOR AND EXTERIOR INSPECTION, I ESTIMATE THE MARKET VALUE, AS DEFINED,

    OF THE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT TO BE $ , AS OF .10 CH. PAGE 1 OF 3 Fannie Mae Form 2055 9-96

    SAMPLE PRE-LISTING APPRAISAL REPORT Bill Cobb Pre-Listing SamplePreListingSample

    12345 Hickory Ridge Blvd Baton Rouge LA 70810Lot 000, Oak Hills East Baton Rouge Parish

    SAMPLE PRE-LISTING APPRAISAL REPORT 2014 1,500.00 N/A.Sample Client Sample Client X

    Baton Rouge LA 70810 - Oak Hills N/A.N/A. N/A. N/A.X Metro Key 682-E 0040.06

    X XX X

    X X 90 0 70 4North by I-10, South by Burbank Dr, East by Pecue Ln and West by Staring

    Ln. 2013-2014 Oak Hills Area: 47 Sales $176K to $539K, Median Price $310K, Avg Sold:$124/sf,Avg SP/LP%:98%, Avg DOM: 54 Days.

    10,000 90 300 35

    310 40 145 3089.51Fx140LSx82.33Rx115.01RS 10955 +/- sq. ft. Irregular

    A-1, Single Family ResidentialX

    X

    X X Asphalt XX X N/A.

    XX

    X X1.5 Detatched Brick/Siding Composition X

    X

    X *** See Additional Comments ***

    X *** See Additional Comments ***

    9 319,000 395,0006 320,000 385,000

    12345 Hickory Ridge Blvd 908 Pastureview Dr 10360 Dunn 1817 Plantation Oaks DrBaton Rouge, LA 70810 Baton Rouge, LA 70810 Baton Rouge, LA 70810 Baton Rouge, LA 70810

    0.28 miles NE 0.36 miles E 1.14 miles NN/A. 319,000 395,000 365,000

    131.04 141.03 150.88 137.58MLSBOX#201404526/Legal News MLSBOX#201401033/Legal News MLSBOX#201407376/Legal News

    CONV $0 Pd. CONV $0 Pd. CASH $0 Pd.15 D.O.M. 27 D.O.M. 25 D.O.M.05/09/2014 04/02/2014 08/18/2014

    Sub/Hickory Ridge Sub/Oak Hills Sub/Oak Hills Sub/Oakridge10955 +/- sq. ft. 11200 sf 11200 sf 14715 sfResidential Residential Residential Residential1.5Story/Traditional 1Story/Traditional 1Story/Traditional 1Story/Traditional24+/- 24+/- 20+/- 15+/- -5,000Avg/Needs Repairs Good -25,000 Good -25,000 Good -25,000

    8 4 3.00 7 4 2.50 10,000 8 4 3.00 8 4 3.002,556 2,262 19,698 2,618 -4,154 2,653 -6,499

    Porches Porches Porches PorchesStorage Storage Storage StorageGarage 2 Garage 2 Carport 2 4,000 Garage 2

    Extras FP 1 / Fence FP 1 / Fence FP1 / Fnc / IG Pool -10,000 FP 2 / Fence -1,500Kitchen Counters Slab Granite Slab Granite Slab Granite Slab Granite

    X 4,698 X -35,154 X -37,999Gross 17.1% Gross 10.9% Gross 10.4%

    Net 1.5% 323,700 Net -8.9% 359,800 Net -10.4% 327,000None 36 Mths None Noted In Past 12 Months None Noted In Past 12 Months None Noted In Past 12 Months

    Per Deedfax deedfaxonline.com deedfaxonline.com deedfaxonline.comSee FIRREA

    Addendum, SAMPLE PRE- LISTING APPRAISAL REPORTComps 1-9 are the most recently sold and closest available. Consideration of

    adjustments within Site/View section are representative of market reactions for differences in site values and not necessarilydifference for physical size. Adjustments for differences in site value, quality, age, condition, # of bathrooms, living area size andother amenities noted. Subject's living area bracketed. Adjusted sales prices of 9 comps $323,700, $359,800, $327,000, $339,900,$350,200, $318,800, $342,300, $308,800 to $320,900, support reconciled recommended listing price range of $300,000 to $400,000opinion (FOR THIS SAMPLE REPORT). Condition Adjustment is based on need for a new roof, rotten wood replacement, need forexterior painting and some interior touch up painting.

    X

    X300,000 to $400,000 01/01/2015

    Accurate Valuations Group, LLC

    WilliamHighlight

    WilliamHighlight

    WilliamHighlight

  • SUBJECT

    SALES

    COMPARISON

    ANALYSIS

    Additional ComparablesFile No.Desktop Underwriter Quantitative Analysis Appraisal Report

    Property Address

    City County State Zip Code

    FEATURE SUBJECT SALE 4 SALE 5 SALE 6

    Address

    Proximity to Subject

    Sales Price $ $ $ $

    Price/Gross Liv. Area $ $ $ $

    Data & Verification Sources

    VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION + (-) $ Adjus tment DESCRIPTION + (-) $ Adjus tment DESCRIPTION + (-) $ Adjus tment

    Sales or FinancingConcessions

    Date of Sale/Time

    Location

    Site

    View

    Design (Style)

    Actual Age (Yrs.)

    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

    Garage/Carport

    Net Adj. (total) + - $ + - $ + - $

    Adjusted Sales Priceof Comparables $ $ $

    Date of Prior Sale

    Price of Prior Sale $ $ $ $

    Comments on Sales Comparison:

    Bill Cobb Pre-Listing SamplePreListingSample

    Borrower or Owner Sample Client12345 Hickory Ridge Blvd

    Baton Rouge East Baton Rouge Parish LA 70810Lender or Client Sample Client

    12345 Hickory Ridge Blvd 132 Highland Trace Dr 1726 Plantation Oaks Dr 515 Autumn Oaks DrBaton Rouge, LA 70810 Baton Rouge, LA 70810 Baton Rouge, LA 70810 Baton Rouge, LA 70810

    0.87 miles SE 1.07 miles N 1.61 miles EN/A. 352,000 375,000 345,000

    131.04 140.13 135.04 131.78MLSBOX#201410336/Legal News MLSBOX#201314365/Legal News MLSBOX#201406917/Legal News

    CONV $800 Pd. VA $0 Pd. CONV $5000 Pd. -2,0003 D.O.M. 78 D.O.M. 23 D.O.M.08/22/2014 01/23/2014 07/22/2014

    Sub/Hickory Ridge Sub/Highland Trace Sub/Oakridge Sub/Live Oak Est.10955 +/- sq. ft. 10800sf 16490sf 12445 sfResidential Residential Residential Residential1.5Story/Traditional 1Story/Traditional 1.5Story/Traditional 1Story/Traditional24+/- 20+/- 15+/- -5,000 26+/-Avg/Needs Repairs Good -25,000 Good -25,000 Good -20,000

    8 4 3.00 8 4 3.00 8 4 2.50 10,000 7 4 2.50 10,0002,556 2,512 2,948 2,777 -14,807 2,618 -4,154

    Porches Porches Porches 2,453Storage Storage Storage StorageGarage 2 Carport 2 4,000 Carport 2 4,000 Garage 2

    Extras FP 1 / Fence FP 1 / Fence FP 1 / Fence FP1 / Fnc / IG Pool -10,000Kitchen Counters Slab Granite Ceramic Tile 6,000 Ceramic Tile 6,000 Slab Granite

    X -12,052 X -24,807 X -26,154Gross 10.8% Gross 17.3% Gross 13.4%

    Net -3.4% 339,900 Net -6.6% 350,200 Net -7.6% 318,800None 36 Mths None Noted In Past 12 Months None Noted In Past 12 Months None Noted In Past 12 Months

    Per Deedfax deedfaxonline.com deedfaxonline.com deedfaxonline.com

    Accurate Valuations Group, LLC

  • SUBJECT

    SALES

    COMPARISON

    ANALYSIS

    Additional ComparablesFile No.Desktop Underwriter Quantitative Analysis Appraisal Report

    Property Address

    City County State Zip Code

    FEATURE SUBJECT SALE 7 SALE 8 SALE 9

    Address

    Proximity to Subject

    Sales Price $ $ $ $

    Price/Gross Liv. Area $ $ $ $

    Data & Verification Sources

    VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION + (-) $ Adjus tment DESCRIPTION + (-) $ Adjus tment DESCRIPTION + (-) $ Adjus tment

    Sales or FinancingConcessions

    Date of Sale/Time

    Location

    Site

    View

    Design (Style)

    Actual Age (Yrs.)

    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

    Garage/Carport

    Net Adj. (total) + - $ + - $ + - $

    Adjusted Sales Priceof Comparables $ $ $

    Date of Prior Sale

    Price of Prior Sale $ $ $ $

    Comments on Sales Comparison:

    Bill Cobb Pre-Listing SamplePreListingSample

    Borrower or Owner Sample Client12345 Hickory Ridge Blvd

    Baton Rouge East Baton Rouge Parish LA 70810Lender or Client Sample Client

    12345 Hickory Ridge Blvd 10318 Rustic Oak Dr 12730 Roan Ave 2133 Oakcliff DrBaton Rouge, LA 70810 Baton Rouge, LA 70810 Baton Rouge, LA 70810 Baton Rouge, LA 70810

    0.44 miles E 0.40 miles E 1.25 miles NN/A. 374,900 322,751 338,000

    131.04 140.41 124.86 137.34MLSBOX#201304902/Legal News MLSBOX#201303326/Legal News MLSBOX#201305637/Legal News

    CONV $0 Pd. CONV $0 Pd. CONV $0 Pd.9 D.O.M. 44 D.O.M. 5 D.O.M.05/30/2013 06/10/2013 05/31/2013

    Sub/Hickory Ridge Sub/Oak Hills Sub/Oak Hills Sub/Oak Hills Xing10955 +/- sq. ft. 12690 sf 12750 sf 11200sfResidential Residential Residential Residential1.5Story/Traditional 1Story/Traditional 1Story/Traditional 1.5Story/Traditional24+/- 20+/- 20+/- 20+/-Avg/Needs Repairs Good -25,000 Good -20,000 Good -25,000

    8 4 3.00 8 4 3.00 8 4 3.00 8 4 3.50 -2,5002,556 2,670 -7,638 2,585 2,461 6,365

    Porches Porches Porches PorchesStorage Storage Storage StorageGarage 2 Garage 2 Garage 2 Carport 2 4,000

    Extras FP 1 / Fence FP 1 / Fence FP 1 / Fence FP 1 / FenceKitchen Counters Slab Granite Slab Granite Ceramic Tile 6,000 Slab Granite

    X -32,638 X -14,000 X -17,135Gross 8.7% Gross 8.1% Gross 11.2%Net -8.7% 342,300 Net -4.3% 308,800 Net -5.1% 320,900

    None 36 Mths None Noted In Past 12 Months None Noted In Past 12 Months None Noted In Past 12 Months Per Deedfax deedfaxonline.com deedfaxonline.com deedfaxonline.com

    Accurate Valuations Group, LLC

  • PUD

    CONDOMINIUM

    File No.Desktop Underwriter Quantitative Analysis Appraisal ReportProject Information for PUDs (If applicable) - - Is the developer/builder in control of the Home Owners' Association (HOA)? Yes NoProvide 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:

    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 buildings into a PUD? If yes, date of conversion:Yes No

    Does the project contain any multi-dwelling units? Yes No Data Source:

    Are the common elements completed? If No, describe status of completion:Yes No

    Are any common elements leased to or by the Home Owners' Association? If yes, attach addendum describing rental terms and options.Yes No

    Describe common elements and recreational facilities:

    Project Information for Condominiums (If applicable) - - Is the developer/builder in control of the Home Owners' Association (HOA)? Yes NoProvide the following information for all Condominium Projects:

    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 buildings into a condominium? If yes, date of conversion:Yes No

    Project Type: Primary Residence Second Home or Recreational Row or Townhouse Garden Midrise Highrise

    Condition of project, quality of construction, unit mix, etc.:

    Are the common elements completed? If No, describe status of completion:Yes No

    Are any common elements leased to or by the Home Owners' Association? If yes, attach addendum describing rental terms and options.Yes No

    Describe common elements and recreational facilities:

    PURPOSE OF APPRAISAL: The purpose of this appraisal is to estimate the market value of the real property that is the subject ofthis report based on a quantitative sales comparison analysis for use in a mortgage finance transaction.

    DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market underall conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affectedby undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from sellerto buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, andeach acting in what he considers his own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) paymentis made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents thenormal consideration for the property sold unaffected by special or creative financing or sales concessions* granted by anyoneassociated with the sale.

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

    STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION

    CONTINGENT AND LIMITING CONDITIONS: The appraiser's certification that appears in the appraisal report is subject to thefollowing conditions:

    1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it. Theappraiser assumes that the title is good and marketable and, therefore, will not render any opinions about the title. The property isappraised on the basis of it being under responsible ownership.

    2. The appraiser has provided any required sketch in the appraisal report to show approximate dimensions of the improvements andthe sketch is included only to assist the reader of the report in visualizing the property and understanding the appraiser's determinationof its size.

    3. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unlessspecific arrangements to do so have been made beforehand.

    4. The appraiser has noted in the appraisal report any adverse conditions (such as, but not limited to, needed repairs, the presenceof hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he or she became awareof during the normal research involved in performing the appraisal. Unless otherwise stated in the appraisal report, the appraiser hasno knowledge of any hidden or unapparent conditions of the property or adverse environmental conditions (including the presence ofhazardous wastes, toxic substances, etc.) that would make the property more or less valuable, and has assumed that there are no suchconditions and makes no guarantees or warranties, expressed or implied, regarding the condition of the property. The appraiser willnot be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whethersuch conditions exist. Because the appraiser is not an expert in the field of environmental hazards, the appraisal report must not beconsidered as an environmental assessment of the property.

    5. The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that heor she considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracyof such items that were furnished by other parties.

    6. The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of ProfessionalAppraisal Practice.

    7. The appraiser must provide his or her prior written consent before the lender/client specified in the appraisal report can distributethe appraisal report (including conclusions about the property value, the appraiser's identity and professional designations, andreferences to any professional appraisal organizations or the firm with which the appraiser is associated) to anyone other than theborrower; the mortgagee or its successors and assigns; the mortgage insurer; consultants; professional appraisal organizations; anystate or federally approved financial institution; or any department, agency, or instrumentality of the United States or any state or theDistrict of Columbia; except that the lender/client may distribute the report to data collection or reporting service(s) without having toobtain the appraiser's prior written consent. The appraiser's written consent and approval must also be obtained before the appraisalcan be conveyed by anyone to the public through advertising, public relations, news, sales, or other media.

    8. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to completion per plansand specifications on the basis of a hypothetical condition that the improvements have been completed.

    9. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to completion, repairs,or alterations on the assumption that completion of the improvements will be performed in a workmanlike manner.

    10 CH. PAGE 2 OF 3 Fannie Mae Form 2055 9-96

    PRE-LISTING SAMPLE - Appraisal Report Bill Cobb Pre-Listing SamplePreListingSample

    N/A N/A N/A

    Accurate Valuations Group, LLC

  • File No.Desktop Underwriter Quantitative Analysis Appraisal Report

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

    1. I performed this appraisal by (1) personally inspecting from the street the subject property and neighborhood and each of thecomparable sales (unless I have otherwise indicated in this report that I also inspected the interior of the subject property); (2) collecting,confirming, and analyzing data from reliable public and/or private sources; and (3) reporting the results of my inspection and analysisin this summary appraisal report. I further certify that I have adequate information about the physical characteristics of the subjectproperty and the comparable sales to develop this appraisal.

    2. I have researched and analyzed the comparable sales and offerings/listings in the subject market area and have reported thecomparable sales in this report that are the best available for the subject property. I further certify that adequate comparable marketdata exists in the general market area to develop a reliable sales comparison analysis for the subject property.

    3. I have taken into consideration the factors that have an impact on value in my development of the estimate of market value in theappraisal report. I further certify that I have noted any apparent or known adverse conditions in the subject improvements, on the subjectsite, or on any site within the immediate vicinity of the subject property of which I am aware, have considered these adverse conditionsin my analysis of the property value to the extent that I had market evidence to support them, and have commented about the effectof the adverse conditions on the marketability of the subject property. I have not knowingly withheld any significant information fromthe appraisal report and I believe, to the best of my knowledge, that all statements and information in the appraisal report are true andcorrect.

    4. I stated in the appraisal report only my own personal, unbiased, and professional analysis, opinions, and conclusions, which aresubject only to the contingent and limiting conditions specified in this form.

    5. I have no present or prospective interest in the property that is the subject of this report, and I have no present or prospective personalinterest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my analysis and/or theestimate of market value in the appraisal report on the race, color, religion, sex, age, marital status, handicap, familial status, or nationalorigin of either the prospective owners or occupants of the subject property or of the present owners or occupants of the propertiesin the vicinity of the subject property or on any other basis prohibited by law.

    6. I have no present or contemplated future interest in the subject property, and neither my current or future employment nor mycompensation for performing this appraisal is contingent on the appraised value of the property.

    7. I was not required to report a predetermined value or direction in value that favors the cause of the client or any related party, theamount of the value estimate, the attainment of a specific result, or the occurrence of a subsequent event in order to receive mycompensation and/or employment for performing the appraisal. I did not base the appraisal report on a requested minimum valuation,a specific valuation, or the need to approve a specific mortgage loan.

    8. I estimated the market value of the real property that is the subject of this report based on the sales comparison approach to value.I further certify that I considered the cost and income approaches to value, but, through mutual agreement with the client, did notdevelop them, unless I have noted otherwise in this report.

    9. I performed this appraisal as a limited appraisal, subject to the Departure Provision of the Uniform Standards of ProfessionalAppraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that werein place as of the effective date of the appraisal (unless I have otherwise indicated in this report that the appraisal is a completeappraisal, in which case, the Departure Provision does not apply).

    10. I acknowledge that an estimate of a reasonable time for exposure in the open market is a condition in the definition of market value.The exposure time associated with the estimate of market value for the subject property is consistent with the marketing time notedin the Neighborhood section of this report. The marketing period concluded for the subject property at the estimated market value isalso consistent with the marketing time noted in the Neighborhood section.

    11. I personally prepared all conclusions and opinions about the real estate that were set forth in the appraisal report. I further certifythat no one provided significant professional assistance to me in the development of this appraisal.

    SUPERVISORY APPRAISER'S CERTIFICATION: If a supervisory appraiser signed the appraisal report, he or she certifies and agreesthat: I directly supervise the appraiser who prepared the appraisal report, have examined the appraisal report for the compliance with theUniform Standards of Professional Appraisal Practice, agree with the statements and conclusions of the appraiser, agree to be boundby the appraiser's certifications numbered 5 through 7 above, and am taking full responsibility for the appraisal and the appraisal report.

    SUPERVISORY APPRAISER (ONLY IF REQUIRED):APPRAISER:

    Signature: Signature:Name: Name:Company Name: Company Name:Company Address: Company Address:

    Date of Report / Signature: Date of Report / Signature:State Certification #: State Certification #:or State License #: or State License #:State: State:Expiration Date of Certification or License: Expiration Date of Certification or License:

    ADDRESS OF PROPERTY APPRAISED: SUPERVISORY APPRAISER:SUBJECT PROPERTY

    Did not inspect subject propertyAPPRAISED VALUE OF SUBJECT PROPERTY $ Did inspect exterior of subject property from streetEFFECTIVE DATE OF APPRAISAL / INSPECTION Did inspect interior and exterior of subject property

    COMPARABLE SALESLENDER/CLIENT: Did not inspect exterior of comparable sales from streetName: Did inspect exterior of comparable sales from streetCompany Name:Company Address:

    10 CH. PAGE 3 OF 3 Fannie Mae Form 2055 9-96

    PRE-LISTING SAMPLE - Appraisal Report Bill Cobb Pre-Listing SamplePreListingSample

    William D. CobbAccurate Valuations Group, LLC

    P.O. Box 40515Baton Rouge, LA 70835

    June 1, 2015851

    LA12/31/2015

    12345 Hickory Ridge BlvdBaton Rouge, LA 70810

    300,000 to $400,00001/01/15

    Sample Client12345 Hickory Ridge Blvd, Baton Rouge, LA 70800

    Accurate Valuations Group, LLC

  • Sketch by Apex Sketch v5 Standard

    24

    .5'

    22.4'

    22

    .6'

    18.4'

    1.9

    '

    4'

    4.8

    ' 11.8'

    30

    .1'

    28.3' 1.5

    ' 3.7'

    16.4'

    12

    .1'

    16.3'

    36

    .5'

    10'

    8.8

    '17.3'

    4.5'9.4'

    5.7

    '

    11.5'3.2

    '

    1.4

    '

    Covered Patio

    Cov Porch

    Storage

    2 Auto Garage

    Foye

    rKitchen

    DiningBedroom

    Bedroom

    BathroomHollywood

    Ha

    ll

    CL

    CL

    CL

    CL

    Laundry

    Pan

    try

    Hal

    l

    Walkin

    Clo

    setBathroomMain

    Main Bedroom

    BathroomShared

    BedroomCloset

    Closet

    Living Room

    11x12

    11x119.5x12

    11x12.4

    13.8x14.8

    11x12

    19x21

    514sf

    172sf

    LIVING AREA SIZE: 2,140sfTOTAL SQ. FT. UNDER ROOF: 3,012SF

    8.1

    ' 21.2'

    8.1

    '

    Covered Porch97sf

    Comments:

    AREA CALCULATIONS SUMMARYCode Description Net Size Net Totals

    GLA1 First Floor 2140.20GAR

    2140.20Two Auto Garage 513.84

    P/P 513.84

    Covered Porch 32.30Covered Patio 171.72Covered Porch 97.20OTH 301.22Storage Area 56.64 56.64

    Net LIVABLE Area (rounded) 2140

    Breakdown SubtotalsLIVING AREA BREAKDOWN

    First Floor 2.8 x 22.4 62.72 1.5 x 35.3 52.95 20.3 x 63.6 1291.08 2.2 x 17.3 38.06 6.6 x 53.6 353.76 0.4 x 31.8 12.72 1.9 x 6.6 12.54 2.9 x 10.6 30.740.5 x 2.6 x 2.6 3.38 12.1 x 16.3 197.23 32.7 x 2.6 85.02

    11 Items (rounded) 2140

    File No.

    Property Address

    City County State Zip Code

    Client

    Bill Cobb Pre-Listing SamplePreListingSample

    SKETCH HAS ROOM SIZES FOR MLS SHEETBorrower or Owner Sample Client

    12345 Hickory Ridge BlvdBaton Rouge East Baton Rouge Parish LA 70810

    Sample Client

    Accurate Valuations Group, LLC

  • File No.

    Property Address

    City County State Zip Code

    Client

    Bill Cobb Pre-Listing SamplePreListingSample

    REGIONAL MAPBorrower or Owner Sample Client

    12345 Hickory Ridge BlvdBaton Rouge East Baton Rouge Parish LA 70810

    Sample Client

    Accurate Valuations Group, LLC

  • File No.

    Property Address

    City County State Zip Code

    Client

    Bill Cobb Pre-Listing SamplePreListingSample

    AERIAL VIEWBorrower or Owner Sample Client

    12345 Hickory Ridge BlvdBaton Rouge East Baton Rouge Parish LA 70810

    Sample Client

    Accurate Valuations Group, LLC

  • File No.

    Property Address

    City County State Zip Code

    Client

    Bill Cobb Pre-Listing SamplePreListingSample

    AERIAL VIEWBorrower or Owner Sample Client

    12345 Hickory Ridge BlvdBaton Rouge East Baton Rouge Parish LA 70810

    Sample Client

    Accurate Valuations Group, LLC

  • File No.

    Property Address

    City County State Zip Code

    Client

    Bill Cobb Pre-Listing SamplePreListingSample

    Neighborhood Boundaries AddendumBorrower or Owner Sample Client

    12345 Hickory Ridge BlvdBaton Rouge East Baton Rouge Parish LA 70810

    Sample Client

    Accurate Valuations Group, LLC

  • File No.

    Property Address

    City County State Zip Code

    Client

    Bill Cobb Pre-Listing SamplePreListingSample

    SITE PLAN WITH LOT SIZESBorrower or Owner Sample Client

    12345 Hickory Ridge BlvdBaton Rouge East Baton Rouge Parish LA 70810

    Sample Client

    Accurate Valuations Group, LLC

  • File No.

    Property Address

    City County State Zip Code

    Client

    Bill Cobb Pre-Listing SamplePreListingSample

    FLOOD MAPBorrower or Owner Sample Client

    12345 Hickory Ridge BlvdBaton Rouge East Baton Rouge Parish LA 70810

    Sample Client

    Accurate Valuations Group, LLC

  • File No.

    Property Address

    City County State Zip Code

    Client

    Bill Cobb Pre-Listing SamplePreListingSample

    PHOTOGRAPH ADDENDUMBorrower or Owner Sample Client

    12345 Hickory Ridge BlvdBaton Rouge East Baton Rouge Parish LA 70810

    Sample Client

    FRONT VIEW OFSUBJECT PROPERTY

    REAR VIEW OFSUBJECT PROPERTY

    STREET SCENE OFSUBJECT PROPERTY

    Accurate Valuations Group, LLC

  • File No.

    Property Address

    City County State Zip Code

    Client

    Bill Cobb Pre-Listing SamplePreListingSample

    PHOTOGRAPH ADDENDUM

    Borrower or Owner Sample Client12345 Hickory Ridge Blvd

    Baton Rouge East Baton Rouge Parish LA 70810Sample Client

    EXTENDED VIEW 1 EXTENDED VIEW 2

    535 Pastureview DrEXTENDED VIEW 3

    535 Pastureview DrEXTENDED VIEW 4

    EXTENDED VIEW 5 EXTENDED VIEW 6

    Accurate Valuations Group, LLC

  • File No.

    Property Address

    City County State Zip Code

    Client

    Bill Cobb Pre-Listing SamplePreListingSample

    PHOTOGRAPH ADDENDUM

    Borrower or Owner Sample Client12345 Hickory Ridge Blvd

    Baton Rouge East Baton Rouge Parish LA 70810Sample Client

    EXTENDED VIEW 7 EXTENDED VIEW 8

    EXTENDED VIEW 9 EXTENDED VIEW 10

    EXTENDED VIEW 11 EXTENDED VIEW 12

    Accurate Valuations Group, LLC

  • File No.

    Property Address

    City County State Zip Code

    Client

    Bill Cobb Pre-Listing SamplePreListingSample

    PHOTOGRAPH ADDENDUM

    Borrower or Owner Sample Client12345 Hickory Ridge Blvd

    Baton Rouge East Baton Rouge Parish LA 70810Sample Client

    EXTENDED VIEW 13 EXTENDED VIEW 14

    EXTENDED VIEW 15 EXTENDED VIEW 16

    EXTENDED VIEW 17 EXTENDED VIEW 18

    Accurate Valuations Group, LLC

  • File No.

    Property Address

    City County State Zip Code

    Client

    Bill Cobb Pre-Listing SamplePreListingSample

    PHOTOGRAPH ADDENDUM

    Borrower or Owner Sample Client12345 Hickory Ridge Blvd

    Baton Rouge East Baton Rouge Parish LA 70810Sample Client

    EXTENDED VIEW 19 EXTENDED VIEW 20

    EXTENDED VIEW 21 EXTENDED VIEW 22

    EXTENDED VIEW 23 EXTENDED VIEW 24

    Accurate Valuations Group, LLC

  • File No.

    Property Address

    City County State Zip Code

    Client

    Bill Cobb Pre-Listing SamplePreListingSample

    PHOTOGRAPH ADDENDUM

    Borrower or Owner Sample Client12345 Hickory Ridge Blvd

    Baton Rouge East Baton Rouge Parish LA 70810Sample Client

    EXTENDED VIEW 25 EXTENDED VIEW 26

    EXTENDED VIEW 27 EXTENDED VIEW 28

    EXTENDED VIEW 29 EXTENDED VIEW 30

    Accurate Valuations Group, LLC

  • File No.

    Property Address

    City County State Zip Code

    Client

    Bill Cobb Pre-Listing SamplePreListingSample

    PHOTOGRAPH ADDENDUM

    Borrower or Owner Sample Client12345 Hickory Ridge Blvd

    Baton Rouge East Baton Rouge Parish LA 70810Sample Client

    EXTENDED VIEW 31 EXTENDED VIEW 32

    EXTENDED VIEW 33 EXTENDED VIEW 34

    EXTENDED VIEW 35 EXTENDED VIEW 36

    Accurate Valuations Group, LLC

  • File No.

    Property Address

    City County State Zip Code

    Client

    Bill Cobb Pre-Listing SamplePreListingSample

    PHOTOGRAPH ADDENDUM

    Borrower or Owner Sample Client12345 Hickory Ridge Blvd

    Baton Rouge East Baton Rouge Parish LA 70810Sample Client

    EXTENDED VIEW 37 EXTENDED VIEW 38

    EXTENDED VIEW 39 EXTENDED VIEW 40

    EXTENDED VIEW 41 EXTENDED VIEW 42

    Accurate Valuations Group, LLC

  • File No.

    Property Address

    City County State Zip Code

    Client

    Bill Cobb Pre-Listing SamplePreListingSample

    PHOTOGRAPH ADDENDUM

    Borrower or Owner Sample Client12345 Hickory Ridge Blvd

    Baton Rouge East Baton Rouge Parish LA 70810Sample Client

    EXTENDED VIEW 43 EXTENDED VIEW 44

    EXTENDED VIEW 45 EXTENDED VIEW 46

    EXTENDED VIEW 47 EXTENDED VIEW 48

    Accurate Valuations Group, LLC

  • File No.

    Property Address

    City County State Zip Code

    Client

    Bill Cobb Pre-Listing SamplePreListingSample

    PHOTOGRAPH ADDENDUM

    Borrower or Owner Sample Client12345 Hickory Ridge Blvd

    Baton Rouge East Baton Rouge Parish LA 70810Sample Client

    EXTENDED VIEW 49 EXTENDED VIEW 50

    535 Pastureview DrEXTENDED VIEW 51

    535 Pastureview DrEXTENDED VIEW 52

    EXTENDED VIEW 53

    Accurate Valuations Group, LLC

  • File No.

    Property Address

    City County State Zip Code

    Client

    Bill Cobb Pre-Listing SamplePreListingSample

    Location MapBorrower or Owner Sample Client

    12345 Hickory Ridge BlvdBaton Rouge East Baton Rouge Parish LA 70810

    Sample Client

    Accurate Valuations Group, LLC

  • File No.

    Property Address

    City County State Zip Code

    Client

    Bill Cobb Pre-Listing SamplePreListingSample

    PHOTOGRAPH ADDENDUMBorrower or Owner Sample Client

    12345 Hickory Ridge BlvdBaton Rouge East Baton Rouge Parish LA 70810

    Sample Client

    COMPARABLE #1

    908 Pastureview DrBaton Rouge, LA 70810

    Price $319,000Price/SF 141.03Date 05/09/2014Age 24+/-Room Count 7-4-2.50Living Area 2,262

    Value Indication $323,700

    COMPARABLE #2

    10360 DunnBaton Rouge, LA 70810

    Price $395,000Price/SF 150.88Date 04/02/2014Age 20+/-Room Count 8-4-3.00Living Area 2,618

    Value Indication $359,800

    COMPARABLE #3

    1817 Plantation Oaks DrBaton Rouge, LA 70810

    Price $365,000Price/SF 137.58Date 08/18/2014Age 15+/-Room Count 8-4-3.00Living Area 2,653

    Value Indication $327,000

    Accurate Valuations Group, LLC

  • File No.

    Property Address

    City County State Zip Code

    Client

    Bill Cobb Pre-Listing SamplePreListingSample

    PHOTOGRAPH ADDENDUMBorrower or Owner Sample Client

    12345 Hickory Ridge BlvdBaton Rouge East Baton Rouge Parish LA 70810

    Sample Client

    COMPARABLE #4

    132 Highland Trace DrBaton Rouge, LA 70810

    Price $352,000Price/SF 140.13Date 08/22/2014Age 20+/-Room Count 8-4-3.00Living Area 2,512

    Value Indication $339,900

    COMPARABLE #5

    1726 Plantation Oaks DrBaton Rouge, LA 70810

    Price $375,000Price/SF 135.04Date 01/23/2014Age 15+/-Room Count 8-4-2.50Living Area 2,777

    Value Indication $350,200

    COMPARABLE #6

    515 Autumn Oaks DrBaton Rouge, LA 70810

    Price $345,000Price/SF 131.78Date 07/22/2014Age 26+/-Room Count 7-4-2.50Living Area 2,618

    Value Indication $318,800

    Accurate Valuations Group, LLC

  • File No.

    Property Address

    City County State Zip Code

    Client

    Bill Cobb Pre-Listing SamplePreListingSample

    PHOTOGRAPH ADDENDUMBorrower or Owner Sample Client

    12345 Hickory Ridge BlvdBaton Rouge East Baton Rouge Parish LA 70810

    Sample Client

    COMPARABLE #7

    10318 Rustic Oak DrBaton Rouge, LA 70810

    Price $374,900Price/SF 140.41Date 05/30/2013Age 20+/-Room Count 8-4-3.00Living Area 2,670

    Value Indication $342,300

    COMPARABLE #8

    12730 Roan AveBaton Rouge, LA 70810

    Price $322,751Price/SF 124.86Date 06/10/2013Age 20+/-Room Count 8-4-3.00Living Area 2,585

    Value Indication $308,800

    COMPARABLE #9

    2133 Oakcliff DrBaton Rouge, LA 70810

    Price $338,000Price/SF 137.34Date 05/31/2013Age 20+/-Room Count 8-4-3.50Living Area 2,461

    Value Indication $320,900

    Accurate Valuations Group, LLC

  • ADDITIONAL COMMENTS

    File No.

    Property Address

    City County State Zip Code

    Bill Cobb Pre-Listing SamplePreListingSample

    Borrower or Owner Sample Client12345 Hickory Ridge Blvd

    Baton Rouge East Baton Rouge Parish LA 70810Lender or Client Sample Client

    Accurate Valuations Group, LLC

    SCOPE OF THE APPRAISAL

    EXPOSURE TIME:There is an effective number of completing properties on the market in this area. This indicates that Supply andDemand are in balance. Reasonable exposure period is estimated to be 3-6 months. Typical holding period is5-7 Years and is based on national housing trends.

    2014-2015 USPAP Compliance Certification:This appraiser did not pay a fee to secure this appraisal assignment. This appraiser has not appraised thesubject property within the previous 36 months. This appraiser doesn't have any current or prospective interestin the subject property or parties involved.

    NOTE: This 09/1996 Fannie Mae Form 2055 is believed to comply with 2014-2015 USPAP guidelines.

    Scope of WorkThe scope of work for this appraisal was defined by the complexity of this appraisal assignment and thereporting requirements of this appraisal report form, including the following definition of market value, statementof assumptions and limiting conditions, and certifications. I, the appraiser (1) performed a complete visualinspection of the interior and exterior areas of the subject property, (2) inspected the neighborhood, (3) inspectedeach of the comparable sales from at least the street, (4) researched, verified, and analyzed data from reliablepublic and/or private sources, and (5) reported my analysis, opinions, and conclusions in this appraisal report.The supervising appraiser has inspected the property at a previous date and did not do another onsiteinspection.

    PRIVACY POLICYPursuant to the Gramm-Leach-Bliley Act of 1999, effective July 2, 2001, Appraisers, along with allproviders of personal financial services are now required by federal law to inform their clients of thepolicies of the firm with regard to the privacy of client nonpublic personal information. As professionals,we understand that your privacy is very important to you and are pleased to provide you with thisinformation.

    Types of Nonpublic Personal InformationWe CollectIn the course of performing appraisals, we may collect what is known as "nonpublic personalinformation" about you. This information is used to facilitate the services that we provide to you and may includethe information provided to us by you directly or received by us from others with your authorization.

    Parties To Whom We Disclose InformationWe do not disclose any nonpublic personal information obtained in the course of our engagement with ourclients to nonaffiliated third parties, except as necessary or as required by law. By way of example, a necessarydisclosure would be to our employees, and in certain situations, to unrelated third party consultants who need toknow that information to assist us in providing appraisal services to you. All of our employees and any third partyconsultants we employ are informed that any information they see as part of an appraisal assignment is to bemaintained in strict confidence within the firm. A disclosure required by law would be a disclosure by us that isordered by a court of competent jurisdiction with regard to a legal action to which you are a party.

    Confidentiality and SecurityWe will retain records relating to professional services that we have provided to you for a reasonable time so thatwe are better able to assist you with your needs. In order to protect your nonpublic personal information fromunauthorized access by third parties, we maintain physical, electronic and procedural safeguards that complywith our professional standards to insure the security and integrity of your information. Please feel free to call usany time if you have any questions about the confidentiality of the information that you provide to us.

    Extraordinary AssumptionsThe comparables used contain confidential information related to pricing, motivations, negotiations, concessions,fees, etc, that are not typically made known to those not a part of the agreement or closing. Even when providedan interview that confirms parts of a transaction, the values herein are based on the assumption that the datareported to the sources used is correct and reflects the specific marketable features. When more than onesource is stated and there are differences in the levels/amounts of the features relevant for refinement, thesource deemed most reliable and reflective of the comparable as of the date of that respective sale will be usedfor comparison.

    Signature CertificationThe digital signatures in this report are duplicates of the original signature(s) and have not been altered orchanged in any way.

    Intended User CertificationThe Intended User of this appraisal report is the Client. The Intended Use is to obtain the market value of theproperty that is the subject of this appraisal for personal knowledge of the client, subject to the stated Scope ofWork, purpose of the appraisal, reporting requirements of this appraisal report form, and Definition of MarketValue. No additional Intended Users are identified by the appraiser.

  • ADDITIONAL COMMENTS

    File No.

    Property Address

    City County State Zip Code

    Bill Cobb Pre-Listing SamplePreListingSample

    Page 2Borrower or Owner Sample Client

    12345 Hickory Ridge BlvdBaton Rouge East Baton Rouge Parish LA 70810

    Lender or Client Sample Client

    Accurate Valuations Group, LLC

    Definition/Source of ValueThe purpose of this report is to properly relay the appraisal analysis, opinions, and conclusions in a manner thatis objective, impartial, and independent. The value being developed is the most common representation of thisarena participant - market value. By definition, market value is the most probable price a property or propertiesshould bring in an open competitive market under conditions requisite to a fair impartial sale where the buyer andseller are both acting knowledgeably and in their own best interest and assuming the price is not affected byunique stimulus or external forces. Implicit in this definition is the consummation of a sale as of a specified dateand the passing of title from seller to buyer under conditions whereby: 1. The buyer and seller are typicallymotivated, 2. Both parties are knowledgeable and acting in their own best interests, 3. a reasonable time isallowed for the property to be exposed to an open and competitive sale arena, 4. Payment is made in terms ofUS cash or equivalent or in terms of financial arrangements comparable thereto, and 5. The price represents thenormal consideration for the property sold unaffected by special or creative financing or sale concessionsgranted by anyone associated with the sale. This definition is from regulations published by federal regulatoryagencies pursuant to Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) of1989 between July and August 1990, by the Federal Reserve System (FRS), by the National Credit UnionAdministration, (NCUA), by the Federal Deposit Insurance Corporation (FDIC), by the Office of Comptroller ofthe Currency (OCC), and by the Office of Thrift Supervision (OTS), being further referenced in regulations jointlypublished in 1994.

    LEGAL DESCRIPTIONHOMESTEAD EXEMPTION. The subject property is classified under the Louisiana Homestead Exemption Actwhich governs the taxes of owner occupied single family dwellings. The Assessor's Office reported that thesubject property is homestead exempt for the first $75,000 of assessed value.

    THE LEGAL DESCRIPTION IS SUBJECT TO TITLE SEARCH VERIFICATION. A LEGAL DESCRIPTIONOTHER THAN THAT INDICATED IN THIS REPORT MAY CHANGE THE ACTUAL LOT DIMENSIONS, WHICHMAY CHANGE THE VALUE OF THE TOTAL SUBJECT PROPERTY.

    NEIGHBORHOOD BOUNDARIESBoundaries are defined on "Neighborhood Boundaries" Map Addendum. Definition of Neighborhood is onAppraisal Definitions Addendum.

    NEIGHBORHOOD DEFINED. A "Neighborhood" is defined in the Dictionary of Real Estate Appraisal, ThirdEdition, 1993, as..."a group of complementary land uses; a congruous grouping of inhabitants, buildings, ofbusiness enterprises". The Appraisal of Real Estate, Tenth Edition, 1992, states, "Neighborhood and districtboundaries identify the physical and area that influences the value of a subject property. These boundaries maycoincide with observable changes in prevailing land use or occupant characteristics. Physical features such asthe type of structures, street patterns, terrain, vegetation, and lot sizes tend to identify land use districts.Transportation arteries, and changing elevation can also be significant boundaries".

    Neighborhood Marketability Comment. The predominant value of the neighborhood/area doesn't adverselyaffect the marketability or appraised value of the subject, in the appraiser's estimation. The value of the subjectproperty, as improved, is within the upper and lower value range of the neighborhood/area defined within theboundaries noted. There are many homes throughout the subject area similar in size, style, quality and value,comparable to the subject property. There is no cause for concern in this regard, in the appraiser's estimation.

    HIGHEST AND BEST USEThe highest and best use is the current use. As Improved: The effective age is less than the actual age. Theeffective age represents the markets reaction to the physical, functional and external condition of the singlefamily residence currently existing on the site. As Improved, the single family residence meets current zoningand deed restrictions. Surrounding land use conforms to the use of the subject as improved. Conclusion: In its'current use, the subject enjoys its' Highest and Best Use as stated.

    ADVERSE SITE CONDITIONSSITE COMMENTS. The appraiser discovered no adverse easements or encroachments. All servitudes,right-of-ways or rights-of-passage for the subject property appear to be typical and common in the subject'smarket area, and do not appear to adversely affect marketability or the appraised market value of the subjectproperty, in the appraiser's estimation.

    CONDITION OF THE IMPROVEMENTS

    I AM NOT A HOME INSPECTOR DISCLOSURE.This appraisal is not a home inspection and the appraiser is not acting as a home inspector when preparing thereport. The borrower has the right to have the home inspected by a professional home inspector;

    When performing the brief and limited inspection of this subject property, the appraiser visually observed areasthat were readily accessible, including mechanical systems. The appraiser is not required to disturb or move

  • ADDITIONAL COMMENTS

    File No.

    Property Address

    City County State Zip Code

    Bill Cobb Pre-Listing SamplePreListingSample

    Page 3Borrower or Owner Sample Client

    12345 Hickory Ridge BlvdBaton Rouge East Baton Rouge Parish LA 70810

    Lender or Client Sample Client

    Accurate Valuations Group, LLC

    anything that obstructs access or visibility;

    When completing the appraisal, a visual inspection only was performed. The inspection was not technicallyexhaustive, in terms of the inspection of mechanical systems. The inspection does not offer warranties orguarantees of any kind;

    The appraiser isn't qualified in the determination of termite and/or infestation damage. There were no obviousevidence/signs with regard to a termite problem at the time of my inspection.

    SALES COMPARISON

    Primary verification source is GBRMLS and secondary is deedfaxonline.com. COE or close of escrowdates are reported above.

    COMPARABLE SALES 6+ MONTHS OLD:Dates of the Comparable Sales used actual closed dates of sale. The sales dates used are normally less thanone (1) year. Although the date of sale for some comparables are in excess of 6 months old and are beyondthe desired period, these sales all occurred during an equal economical and marketing period as of the date ofthe appraisal. The selection of these older sales was made for the lack of more ideal comparable properties.Appraisal assignments with the subject's features often require a wide search for market data. This wideextended search is not considered to be a lack of marketability.

    SITE VALUE ADJUSTMENTS.Consideration of adjustments within the Site/View section of this report, when made and where applicable, arerepresentative of market reactions for differences in the individual site values of each comparable sale as awhole property, and not necessarily the difference for physical size of each individual comparable whole property.

    EXPLANATION OF OTHER ADJUSTMENTS:Other adjustments made in the Sales Comparison Approach data grid are, for the most part, self explanatory.When comparing each comparable sale to the subject property under the different categories, ie., room count(bedroom and bath), gross living area, rooms below grade (storage area), functional utility, energy efficient items(storm windows/insulated windows/storm doors versus those without these features), car storage,porches/patios/decks/fireplaces, fences, in-ground swimming pools and differences in Kitchen equipment.Positive adjustments were made when the comparable is appraised as inferior to the subject and negativeadjustments are made when the comparable is appraised as superior to the subject in each category. Theamount of each adjustment is the appraiser's estimation of market effect a particular difference would make tothe informed buyer in the subject's market. The comparable sales used are among the most similar indesign/appeal and most recent sales available.

    LARGE PROXIMITY DISTANCES OF COMPARABLE SALES.The apparent large proximity distances could not be avoided for lack of more closely located properties, thatcould be considered comparable. Appraisal assignments with the subject's features often require a wide searchfor market data. This wide search is not considered to be a lack of marketability. Included in this report arecomparable sales that are considered to be the most comparable sales available, that could be considereduseful for this appraisal assignment. The gross and net adjustments on these sales are at or above the typicalFNMA guidelines, but could not be avoided because of the above mentioned reasons.

    LARGE GROSS/NET ADJUSTMENTS & LINE ADJUSTMENT EXCEEDED GUIDELINES.Appraisal assignments with the subject's features often require a wide search for market data. This wideextended search is not considered to be a lack of marketability. Included in this report are comparable sales thatare considered to be the most comparable sales available, that could be considered useful for this appraisalassignment. The gross and net adjustments, as well as the size adjustments on these are at or above thetypical FNMA guidelines, but could not be avoided because of the above mentioned reasons. These were theonly comparable sales available in which the appraiser was able to obtain accurate and reliable information.

    THE SOURCE OF THE DEFINITION OF MARKET VALUE IS: 12CFR34.42(g)

    CONDITIONS OF THE APPRAISAL

    ******************************************************************************DIGITAL PHOTO COMMENT. No digital photo presented in this report have been altered in any way, except tolighten and straighten where appropriate.*******************************************************************************

  • F.I.R.R.E.A. ADDENDUM

    Purpose of the Appraisal

    Scope of Work

    Report of the prior year sales history for the subject property

    Marketing Time

    Non-real property transfers

    Additional Comments

    Additional Certification

    File No.

    Property Address

    City County State Zip Code

    Is the subject property currently listed? Yes No List Price: $

    Has the property sold during the prior year? Yes No If yes, describe below

    What is your estimate of marketing time for the subject property? months Describe below the basis (rationale) for your estimate?

    Does the transaction involve the transfer of personal property, fixtures, or intangibles that are not real property? Yes No

    If yes, provide description and valuation below.

    1. The acceptance of this appraisal assignment by the appraiser was not based on a requested minimum valuation, a specified valuation, or an approval of the loan.

    The appraiser certifies that the compensation for this appraisal is not contingent upon the reporting of a predetermined value or direction in value that favors the cause of the2.

    client, the amount of the value estimate, the attainment of a stipulated result of the occurrence of a subsequent event.

    3. This appraisal has been prepared to conform with the Uniform Standards of Professional Appraisal practice ("USPAP") adopted by the Appraisal Standards Board of the

    Appraisal foundation, except the Departure Provision, unless otherwise stated below.

    The appraiser has disclosed within this appraisal report, or below, all steps taken that were necessary or appropriate to comply with the Competency provision of the USPAP.4.

    Date: Appraiser(s):

    Date: Review Appraiser(s):

    Form 953

    Bill Cobb Pre-Listing SamplePreListingSample

    Borrower or Owner Sample Client12345 Hickory Ridge Blvd

    Baton Rouge East Baton Rouge Parish LA 70810Lender or Client Sample Client

    PURPOSE OF THE APPRAISAL. The purpose of this appraisal is to estimate the market value of the fee simple interest in theproperty, as defined in the attached FNMA form, as of the date set forth in the reconciliation section of the report. The title isassumed to be good and marketable.

    Scope of the appraisal is defined as the extent of the process of collecting, confirming and reporting data. Data is collected andconfirmed from the Clerk of court records, The Greater Baton Rouge Association of Realtors Multiple Listing Service, publishedDeedfax/Legal News records, the appraiser's file records of properties previously inspected and appraised, and interviews withpersons knowledgeable in the local market. This data is then reported on the attached appraisal forms and addenda in accordancewith the Uniform Standards of Professional Appraisal Practice. This appraisal is an "Appraisal Report" and conforms with USPAP.This appraisal is intended for the use of the client herein and is not to be released to any third party without the express consent ofthis appraiser.

    XX

    No Prior Sales Were Noted In The Past 36 Months Per My Search In www.deedfaxonline.com. Subject is not known to have beenlisted within GBRMLS within past 12 months.

    2-4 MonthsMLS/CMA, The estimated marketing time period is the same as the Neighborhood section of this report. This estimate is based on theappraiser's observation of the marketing time for listings and sales within the immediate area and the number of listings to sales.

    X

    Environmental Disclaimer: The value estimated in this report is based on the assumption that the property is not negatively affectedby the existance of hazardous substsnces or detrimental environmental conditions. The appraiser is not an expert in theidentification of hazardous substances or detrimental environmental conditions. The appraiser's routine inspections and enquiriesabout the subject property did not develop any information that indicated any apparent significant hazardous substances ordetrimental environmental conditions which would affect the property negatively. It is possible that the tests and inspections madeby a qualified expert would reveal the existance of hazardous materials and environmental conditions on or around the property thatwould negatively affect its value.

    5.) I certify that to the best of my knowledge and belief, the reported analysis, opinions and conclusions that were developed in thisreport have been prepared in conformity with the requirements of the Code of Professional Ethics and the Standards of ProfessionalPractice of the Appraisal Institute. 6.) I certify that the use of this report is subject to the requirements of the Appraisal Instituterelating to review by their duly authorized representatives. 7.) As of the date of this report, William D. Cobb has completed therequirements of the continuing education program of the La. State Real Estate Commission. 8.) As of the date of this report, WilliamD. Cobb has completed the requirements of the continuing education program of the La. State Certified Appraiser's Law, and iscurrently certified as Residential Real Estate Appraiser in the State of Louisiana.

    June 1, 2015William D. Cobb

    Accurate Valuations Group, LLC

  • APPRAISAL AND REPORT IDENTIFICATION

    ADDITIONAL CERTIFICATIONS

    PRIOR SERVICES

    PROPERTY INSPECTION

    APPRAISAL ASSISTANCE

    ADDITIONAL COMMENTS

    MARKETING TIME AND EXPOSURE TIME FOR THE SUBJECT PROPERTY

    APPRAISER SUPERVISORY APPRAISER (ONLY IF REQUIRED)

    File No.USPAP Compliance AddendumBorrower/Client

    Property Address

    City County State Zip Code

    Lender/Client

    This Appraisal Report is one of the following types:

    Appraisal Report This report was prepared in accordance with the requirements of the Appraisal Report option of USPAP Standards Rule 2-2(a).

    Restricted Appraisal Report This report was prepared in accordance with the requirements of the Restricted Appraisal Report option of USPAP Standards Rule 2-2(b). The

    intended user of this report is limited to the identified client. This is a Restricted Appraisal Report and the rationale for how the appraiser arrived

    at the opinions and conclusions set forth in the report may not be understood properly without the additional information in the appraiser's workfile.

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

    The statements of fact contained in this report are true and correct.The report analyses, opinions, and conclusions are limited only by the reported assumptions and are my personal, impartial, and unbiased professional analyses,opinions, and conclusions.

    I have no (or the specified) present or prospective interest in the property that is the subject of this report and no (or specified) personal interest with respect to theparties 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 ofthis appraisal.

    My analyses, opinions, and conclusions were developed and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice.

    This appraisal report was prepared in accordance with the requirements of Title XI of FIRREA and any implementing regulations.

    I have NOT performed services, as an appraiser or in any other capacity, regarding the property that is the subject of the report within the three-year periodimmediately 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 immediatelypreceding acceptance of this assignment. Those services are described in the comments below.

    I have NOT made a personal inspection of the property that is the subject of this report.I HAVE made a personal inspection of the property that is the subject of this report.

    Unless otherwise noted, no one provided significant real property appraisal assistance to the person signing this certification. If anyone did provide significant assistance, they

    are hereby identified along with a summary of the extent of the assistance provided in the report.

    Additional USPAP related issues requiring disclosure and/or any state mandated requirements:

    A reasonable marketing time for the subject property is day(s) utilizing market conditions pertinent to the appraisal assignment.

    A reasonable exposure time for the subject property is day(s).

    Signature Signature

    Name Name

    Date of Signature Date of Signature

    State Certification # State Certification #

    or State License # or State License #

    State State

    Expiration Date of Certification or License Expiration Date of Certification or License

    Supervisory Appraiser Inspection of Subject Property:

    Effective Date of Appraisal Did Not Exterior-only from Street Interior and Exterior

    USPAP Compliance Addendum 2014 Page 1 of 1

    Bill Cobb Pre-Listing SamplePreListingSample

    Sample Client12345 Hickory Ridge Blvd

    Baton Rouge East Baton Rouge Parish LA 70810Sample Client

    X

    This is a normal Fannie Mae 2055. Per USPAP 2014, this is an "Appraisal Report" instead of a "Summary Appraisal Report".

    X

    X

    No one else besides myself provided significant assistance in completion of this report.

    2014-2015 uspap compliance certification: this appraiser didnot pay a fee to secure this appraisal assignment. This appraiser has not appraised the subject property within the previous 36months. This Appraiser doesn't have any current or prospective interest in the subject property or parties involved. In compliancewith the ethics rule Of uspap, i hereby certify that this appraiser has no current or prospective interest in the subject property orParties involved, and has not performed any services regarding the subject property within the 3 year period Immediately precedingacceptance of the assignment, as an appraiser or in any other capacity.

    X 90-180X 90-180

    William D. CobbJune 1, 2015851

    LA12/31/2015

    01/01/2015

    Accurate Valuations Group, LLC

  • File No.DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive andopen market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeablyand 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 sellerare typically motivated; (2) both parties are well informed or well advised, and each acting in what he considers hisown best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in termsof cash in U.S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents thenormal consideration for the property sold unaffected by special or creative financing or sales concessions* grantedby anyone associated with the sale.

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

    STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION

    CONTINGENT AND LIMITING CONDITIONS: The appraiser's certification that appears in the appraisal reportis subject to the following conditions:

    1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraisedor the title to it. The appraiser assumes that the title is good and marketable and, therefore, will not render anyopinions about the title. The property is appraised on the basis of it being under responsible ownership.

    2. The appraiser has provided a sketch in the appraisal report to show approximate dimensions of the improvementsand the sketch is included only to assist the reader of the report in visualizing the property and understanding theappraiser's determination of its size.

    3. The appraiser has examined the available flood maps that are provided by the Federal Emergency ManagementAgency (or other data sources) and has noted in the appraisal report whether 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 or implied, regarding this determination.

    4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property inquestion, unless specific arrangements to do so have been made beforehand.

    5. The appraiser has estimated the value of the land in the cost approach at its highest and best use and theimprovements at their contributory value. The separate valuations of the land and improvements must not beused in conjunction with any other appraisal and are invalid if they are so used.

    6. The appraiser has noted in the appraisal report any adverse conditions (such as, needed repairs, depreciation, thepresence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or thathe or she became aware of during the normal research involved in performing the appraisal. Unless otherwise statedin the appraisal report, the appraiser has no knowledge of any hidden or unapparent conditions of the property oradverse environmental conditions (including the presence of hazardous wastes, toxic substances, etc.) that wouldmake the property more or less valuable, and has assumed that there are no such conditions and makes noguarantees or warranties, express or implied, regarding the condition of the property. The appraiser will not beresponsible for any such conditions that do exist or for any engineering or testing that might be required to discoverwhether such conditions exist. Because the appraiser is not an expert in the field of environmental hazards, theappraisal report must not be considered as an environmental assessment of the property.

    7. The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report fromsources that he or she considers to be reliable and believes them to be true and correct. The appraiser does notassume responsibility for the accuracy of such items that were furnished by other parties.

    8. The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform

    Standards of Professional Appraisal Practice.

    9. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject tosatisfactory completion, repairs, or alterations on the assumption that completion of the improvements will beperformed in a workmanlike manner.

    10. The appraiser must provide his or her prior written consent before the lender/client specified in the appraisalreport can distribute the appraisal report (including conclusions about the property value, the appraiser's identityand professional designations, and references to any professional appraisal organizations or the firm with which theappraiser is associated) to anyone other than the borrower; the mortgagee or its successors and assigns; the mortgageinsurer; consultants; professional appraisal organizations; any state or federally approved financial institution; or anydepartment, agency, or instrumentality of the United States or any state or the District of Columbia; except thatthe lender/client may distribute the property description section of the report only to data collection or reportingservice(s) without having to obtain the appraiser's prior written consent. The appraiser's written consent andapproval must also be obtained before the appraisal can be conveyed by anyone to the public through advertising,public relations, news, sales, or other media.

    Freddie Mac Form 439 6-93 Page 1 of 2 Fannie Mae Form 1004B 6-93

    Bill Cobb Pre-Listing SamplePreListingSample

  • File No.

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

    1. I have researched the subject market area and have selected a minimum of three recent sales of properties mostsimilar and proximate to the subject property for consideration in the sales comparison analysis and have made adollar adjustment when appropriate to reflect the market reaction to those items of significant variation. If asignificant item in a comparable property is superior to, or more favorable than, the subject property, I have madea negative adjustment to reduce the adjusted sales price of the comparable and, if a significant item in a comparableproperty is inferior to, or less favorable than the subject property, I have made a positive adjustment to increase theadjusted sales price of the comparable.

    2. I have taken into consideration the factors that have an impact on value in my development of the estimate ofmarket value in the appraisal report. I have not knowingly withheld any significant information from the appraisalreport and I believe, to the best of my knowledge, that all statements and information in the appraisal report aretrue and correct.

    3. I stated in the appraisal report only my own personal, unbiased, and professional analysis, opinions, andconclusions, which are subject only to the contingent and limiting conditions specified in this form.

    4. I have no present or prospective interest in the property that is the subject to this report, and I have no presentor prospective personal interest or bias with respect to the participants in the transaction. I did not base, eitherpartially or completely, my analysis and/or the estimate of market value in the appraisal report on the race, color,religion, sex, handicap, familial status, or national origin of either the prospective owners or occupants of the subjectproperty or of the present owners or occupants of the properties in the vicinity of the subject property.

    5. I have no present or contemplated future interest in the subject property, and neither my current or futureemployment nor my compensation for performing this appraisal is contingent on the appraised value of the property.

    6. I was not required to report a predetermined value or direction in value that favors the cause of the client orany related party, the amount of the value estimate, the attainment of a specific result, or the occurrence of asubsequent event in order to receive my compensation and/or employment for performing the appraisal. I did notbase the appraisal report on a requested minimum valuation, a specific valuation, or the need to approve a specificmortgage loan.

    7. I performed this appraisal in conformity with the Uniform Standards of Professional Appraisal Practice that wereadopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place asof the effective date of this appraisal, with the exception of the departure provision of those Standards, which doesnot apply. I acknowledge that an estimate of a reasonable time for exposure in the open market is a condition inthe definition of market value and the estimate I developed is consistent with the marketing time noted in theneighborhood section of this report, unless I have otherwise stated in the reconciliation section.

    8. I have personally inspected the interior and exterior areas of the subject property and the exterior of all propertieslisted as comparables in the appraisal report. I further certify that I have noted any apparent or known adverseconditions in the subject improvements, on the subject site, or on any site within the immediate vicinity of thesubject property of which I am aware and have made adjustments for these adverse conditions in my analysis ofthe property value to the extent that I had market evidence to support them. I have also commented about theeffect of the adverse conditions on the marketability of the subject property.

    9. I personally prepared all conclusions and opinions about the real estate that were set forth in the appraisal report.If I relied on significant professional assistance from any individual or individuals in the performance of theappraisal or the preparation of the appraisal report, I have named such individual(s) and disclosed the specific tasksperformed by them in the reconciliation section of this appraisal report. I certify that any individual so named isqualified to perform the tasks. I have not authorized anyone to make a change to any item in the report; therefore,if an unauthorized change is made to the appraisal report, I will take no responsibility for it.

    SUPERVISORY APPRAISER'S CERTIFICATION: If a supervisory appraiser signed the appraisal report, he or shecertifies and agrees that: I directly supervise the appraiser who prepared the appraisal report, have reviewed the appraisalreport, agree with the statements and conclusions of the appraiser, agree to be bound by the appraiser's certificationsnumbered 4 through 7 above, and am taking full responsibility for the appraisal and the appraisal report.

    ADDRESS OF PROPERTY APPRAISED:

    APPRAISER: SUPERVISORY APPRAISER (only if required):

    Signature: Signature:Name: Name:Date Signed: Date Signed:State Certification #: State Certification #:or State License #: or State License #:State: State:Expiration Date of Certification or License: Expiration Date of Certification or License:

    Did Did Not Inspect Property

    Freddie Mac Form 439 6-93 Page 2 of 2 Fannie Mae Form 1004B 6-93

    Bill Cobb Pre-Listing SamplePreListingSample

    12345 Hickory Ridge Blvd, Baton Rouge, LA 70810

    William D. CobbJune 1, 2015

    851

    LA12/31/2015

    Accurate Valuations Group, LLC