C150237 Appraisal - Laserfiche WebLink

Home Browse Search

100 Acres,Penrose,CO PROPERTY RIGHTS APPRAISED The property is appraised as a whole, in fee simple right, as unencumbered, subject to the prior limiting conditions. Fee Simple Estate is defined as: Absolute ownership unencumbered by any other interest or estate subject only to the four powers of government. (Source;American Institute of Real Estate Appraisers, The Dictionary of Real Estate Appraisal, Second Edition, 1989,p. 120). MARKETING AND EXPOSURE TIME Based on the comparable sales utilized within this report and the overall market it is the appraisers opinion that the data indicates an exposure period of about nine to twelve months. Therefore an exposure period of nine months is concluded for the subject property. The marketing time is expected to be similar The marketing period estimate assumes that the subject will be marketed within 5%of the prospective market value concluded herein. The marketing period estimate is an opinion of the length of time necessary to market the site and improvements. The price that may be achieved for the subject within the estimated marketing period may or may not be equal to the prospective appraised value estimate of the subject. The future price may be higher or lower, depending on potential changes in the physical real estate, demographic and economic trends, and the real estate market, among other factors. COMPETANCY The appraiser has 10+years experience in the appraisal of numerous types of real estate including but not limited to residential,vacant land, ranches, restaurants, storage units, office buildings, hotels/motels, light industrial,banks, and others. This experience includes the appraisal of property types comparable to that of the subject. The appraiser therefore considers himself competent with respect to his ability to appraise the subject property. 8 ©2012 Grantham Appraisal Service All Rights Reserved