Res 1988-111 - Laserfiche WebLink

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DATE OF THE VALUE ESTIMATE The effective date of this appraisal is August 22, 1988. PURPOSE OF THE APPRAISAL The purpose of this appraisal is to estimate the current market value of the fee simple interest of the subject property. MARKET VALUE DEFINED Market value is defined as "the most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each acting in what he considers his own best interest; t f) a reasonable time is allowed for exposure in the open market; 1 ,6-18 months for property of this kind) 1A payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; (5) the price represents the normal cum i6twation for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale. ?din appraiser': opinion, the swbjeot propyrty has been nealeutsd, and not bYen adequately m4rketed or deveiope?i. LEGAL DESCRIPTION Approximately *12.258 acres out of Abstract 17-2 - Tract 28, J. M. Veramendi Survey, San Marcos; Hays County, Texas., formerly known as 3ollman Industries on the corner of Uhland Road and Mill Street. *appraiser was not provided a survey of the property; appraisal was made- subject to: subject tract size is 12.58 acres, with no encroachments; no toxic, waste inspection or survey '-,vas made, and appraisal is subject to no toxic waste problems; appraiser owild not verify viability of electrical or plumbing systems