Laserfiche WebLink
EXPOSURE TIME/MARKETING TIME <br />Final values reflect "market exposure" time of under 1 year before the <br />Exposure Time: <br />effective date of the appraisal. Changes in the market, use, lease <br />and/or building subsequent to the effective appraisal date could impact <br />value. <br />Marketing Time: Marketing times for appropriately priced properties is generally 6 to 18 <br />months <br />DEFINITIONS <br />MARKET VALUE - The most probable price which a property should bring in a competitive <br />and open market under all conditions requisite to a fair sale, the buyer and seller each acting <br />prudently, knowledgeably, and assuming the price is not affected by undue stimulus. Implicit <br />in this definition is the consummation of a sale as of a specified date and the passing of title <br />from seller to buyer under conditions whereby: <br />a) buyer and seller are typically motivated; <br />b) both parties are well informed or well advised, and each acting in what they consider <br />their own best interest; <br />c) a reasonable time is allowed for exposure in the open market; <br />d) payment is made in terms of cash in U.S. dollars or in terms of financial arrangements <br />comparable thereto; and <br />e) the price represents the normal consideration for the property sold, unaffected by <br />special or creative financing or sales concessions granted by anyone associated with <br />the sale. <br />Source: The Dictionary of Real Estate Appraisal,51h Addition. Appraisal Institute <br />ENVIRONMENTAL & STRUCTURAL ISSUES <br />Regarding any adverse environmental and/or improvement structural conditions (such as, but <br />not limited to, hazardous wastes, toxic substances, mold, construction defects or <br />inadequacies etc.) present in the improvements, on the site, or in the immediate vicinity of the <br />subject property, none are apparent, however, appraiser is not an expert in this field, value <br />assumes no hazardous or significant structural conditions exist. Value assumes any <br />abandoned wells will be properly sealed. If any of these conditions exist the appraised value <br />could differ significantly. <br />48 Nagell Appraisal&Consulting 1 952-544-8966 1 www.callnagell.com