5.3. ERMUSR 12-12-2012 - Laserfiche WebLink

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ADDENDUM Client: Troy Adams File No.: m727 Property Address: 1627 Main Street NW Case No.: City: Elk River State: MN Zip: 55330 Exposure Time A reasonable exposure time for the subject property at the opinion of value indicated is estimated to be under 110 days and was derived through analysis of all prior sales within the last 365 days of the subject's neighborhood and external factors that may have an influence to the marketing time for similar properties deemed by that of the appraiser at the time of this analysis. USPAP:The appraiser has conducted a complete appraisal intended to comply with the Uniform Standards of Professional Appraisal Practice.This report reflects a summary that is an opinion of the current marketability of the subject property.The depth of the discussion in this report is intended to be specific to the needs of the client.The appraiser is not an engineer, home inspector,electrician,plumber,heating contractor,or similar expert and has no formal training in these trades.The observed condition of the physical and functional utilities comprising the subject property are based on a visual inspection of exterior surfaces only.Any observed condition comment contained in this report should not be taken as a guarantee a problem does not exist.The appraiser is not responsible for unauthorized or unintended uses of this report.The Scope Of The Appraisal is defined as a comprehensive valuation analysis to determine market value of the subject,given the current conditions of the real estate market and the physical condition of the property.The sales comparison approach was reconciled to provide a final estimated value.The scope of the investigation includes a personal inspection of the subject property,a review of county records,and a search of the RMLS.This inspection is for valuation purposes only. The Scope Of The Appraisal is defined as a comprehensive valuation analysis to determine market value of the subject, given the current conditions of the real estate market and the physical condition of the property.The sales comparison approach was reconciled to provide a final estimated value.The scope of the investigation includes a personal inspection of the subject property,a review of county records,and a search of the RMLS.This inspection is for valuation purposes only. Final Reconciliation The high quality of the data used in the sales comparison approach demonstrates its viability as the best value indicator. The cost approach does not have lead to a more credible conclusion. As indicated,the income approach to value was not developed because a search in the market indicated no single family houses similar in location and characteristics.The neighborhood is an owner occupied neighborhood. • • Addendum Page 2 of 2