Res 1996-173 - Laserfiche WebLink

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Jt>E- s ë OPE ffi1j Ft~¡fi! ii Ê~~P.R1Ör S ATI """""""""-~"""""""'~""""""::"""'"""""""""""" ,. TH:E:::"PÛR1;iÖ13'Ë~::"" 'THri":" '"bÞRÃÎSÃÊ i 1 i : ::,,;, ":(:"""'A,..,.id:;J.K/rI..~:fA1:"":,,,"~, ....: s to estimate MarKet Va ue as def...ned YF("'tli"evw';å'tt"'gc"}1'ê'Cf ,wHâþ'p.r^à1"s a i~' å~ ~~~:K f~~~~~~~i;;E ~1:@';~~8.~j~~l~iJ. AUGUST OS, 1996 ~I!%jJij;~.f¿1{g::§:tI{i~g¡?£h:f:â~R is the fee simple estate. Fee simple ':rnl'ërešt,ú1"~f""d<e'f1'ÍfEm"""n1,""vReal Estate Appraisal Terminology, published by the'Society of Real Estate Appraisers and The American Institute -,. of Real Estate Appraisers as "An absolute fee; a fee without limitations to any particular class of heirs or restriction, but subject to limitations of eminent domain, escheat, police power, and taxation. An inheritable estate". scëlfËÃ~ÕR;ffiÏE';¡i'}u:n?"fŒtsj;::Er:1 The value estimates contained herein are Þ£~â'î'ð<à~t':€ã'<:=>"';l?põ~rrž~b~~ií"ary~ i s of i Ii flu e n t i alp h y sic a I, s 0 c i aI, and economic factors of the environment. An analysis of these conditions are reconciled into a final estimate of Market Value through the use of three (3) traditional approaches. These three (3) traditional approaches are recognized and known by appraisal professionals as the Cost Approach, the Market (Sales Comparison) Approach, and the Income Approach. Whenever possible, all three (3) approaches should be considered in ~rriving at an estimate of value. However, one (1) approach will often be afforded greater weight than the others, depending largely upon the type of property and the data available. The Cost Approach indicates a value by estimating the subject's land value. The Market (Sales Comparison) Approach consists of a comparison of the subject property wi:th similar properties which have been reported as sales. The "Income 11 Approach considers the income which the property is likely to produce, and develops a - value indication by the application of rent multipliers extracted from the market. The resulting indications of value are then reconciled by the appraiser. into a final opinion of value. My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Rules of the Texas Real Estate Commission. The Value Estimate contained herein is subject to the basic assumptions and limiting conditions contained in the report, and the following special limiting conditions. £p}j;f tÿq§ l!rJlNfRll 1;; 6.~ ~ tt,ï: it G1ig Q @~ m,~Q îI~ The appraiser has no knowledge of the existence of potentially hazardous materials used in the construction or maintenance of the property, such as the presence of asbestos, urea-formaldehyde insulation and/or the existence of toxic waste or other potential hazards such as radon which may or may not be present on the property. The presence of such substances might affect the value of the property; therefore, the value estimate contained in this report is predicated on the assumption that there is no such material or potential hazard which would cause a loss'ot value, preeent. The appraiser however, is not qualified to detect such substances or conditions, and no responsibility is assumed for any such - conditions or for any expertise required to discover them. The client is u=ged to retain an expert in this field. No warranty or guaran~ee is made or implied as to the condition of the roo f, slab, electrical systems, air conditioning and heating system, insulation, appliances or any other components of improvements. This would require an inspection from a qualified expert in these areas.