Doc

Bill Cobb Pre-Listing Sample
PreListingSample
File No.
SAMPLE PRE-LISTING APPRAISAL REPORT

OF THE REAL PROPERTY LOCATED AT
12345 Hickory Ridge Blvd
Baton Rouge, LA 70810

for
Sample Client
Baton Rouge, LA
70800
as of
01/01/2015
by
William D. Cobb, CREA
P.O. Box 40515
Baton Rouge, LA 70835-0515

Accurate Valuations Group, LLC

PreListingSample
File No.
PRE-LISTING APPRAISAL COMMENTARY

Borrower or Owner
Sample Client
City
County
Baton Rouge
Lender or Client
Sample Client
Property Address
State
East Baton Rouge Parish
Zip Code
LA
70810
NOTE:
This is a Bill Cobb Appraiser Pre-Listing Appraisal Sample Report where the addresses, maps, sketch,
photos, verbiage has been modified on purpose for the confidentiality of any previous appraisals completed.
APPRAISER:
SUPERVISORY APPRAISER (ONLY IF REQUIRED):
Signature:
Signature:
Name: William D. Cobb
Name:
Date Signed:
June 1, 2015
State Certification #: 851
Date Signed:
or State License #:
or State License #:
State:
State Certification #:
State:
LA
Expiration Date of Certification or License:
12/31/2015

Did
Did Not Inspect Property

PreListingSample
File No.
PRE-LISTING APPRAISAL COMMENTARY

Borrower or Owner
Sample Client
City
County
Baton Rouge
Lender or Client
Sample Client
Property Address
State
LA
Zip Code
70810
RECOMMENDED LISTING PRICE RANGE IS: $115,000 to $125,000
INTENDED USE - PRE-LISTING:

The intended use of this appraisal report is for the establishment of a Pre-Listing Price Range for Homeowner
( ) and thier REALTOR to evaluate the property that is the subject of this appraisal. This Home Appraisal WAS
NOT prepared for mortgage lending purposes.
HOME VALUE UNDERSTANDING:

Comps 1-7 are most recently sold and closest comps available; Comps 8-9 are competing listings. Adjustments for differences in site
value, quality (some comps have slab granite counters), condition, # of baths, living area size and other amenities noted. Adjusted
sales prices of comps $120,400, $133,200, $123,500, $121,800, $117,600, $107,700 to $114,600, support reconciled recommended
listing price range of $115,000 to $125,000 opinion. Approximate weight given to each comp: Comp 1 - 20%, Comp 2 - 20%, Comp 3 20%, Comp 4 - 10%, Comp 5 - 10%, Comp 6 - 10% and Comp 7 - 10%. Current listing comps used adjusted to listing to sales price ratio
93% (Wickland Terrace homes in 2015 have sold for 93% of listing price) support $109,800 to $122,500.
HOW MANY DAYS WILL IT TAKE TO SELL THIS HOME?

Comparable Sales 1-7, the most recent comps available, took 154, 13, 16, 291, 33, 158 and 38 days on the market to sell. Comps 8 & 9
are Pending Listings and were on the market for 3 & 43 days AND were well prepared for their listings. So, it could take between 3 to 150
days to sell this home depending on how well it's prepared for this listing (fresh paint and decluttered on exterior).
WHAT IS IS COUNTED AS "LIVING AREA" ON THE SKETCH?

"Living Area" is generally measured from the exterior perimeter of a home containing the heated and cooled finished areas, such as
Kitchen, Dining, Bedrooms, Bathrooms, etc..
WHAT IS COUNTED AS A "ROOM" IN TOTAL ROOM COUNT?
Local custom determines the definition of a room. In general, a room is a kitchen, bedroom, living room, den, family room, dinining
room or an office. Bathrooms, laundry rooms, small computer nooks, small sewing area, sun rooms, lofts, closets, small foyers /
entries and storage rooms are not usually considered to be rooms.
Source: http://www.zillow.com/advice-thread/How-do-I-calculate-the-number-of-rooms-in-a-house/200918/
I AM NOT A HOME INSPECTOR DISCLOSURE. This appraisal is not a home inspection and the appraiser is not acting as a home
inspector when preparing the report. I fully recommend a home inspection of all mechanical systems and roof to determine the exact
condition/status of these items, whether any repairs need to be made and the estimated economic life remaining for these items. The
borrower has the right to have the home inspected by a professional home inspector;
W hen performing the brief and limited inspection of this subject property, the appraiser visually observed areas that were readily
accessible, including mechanical systems. The appraiser is not required to disturb or move anything that obstructs access or
visibility;
When completing the appraisal, a visual inspection only was performed. The inspection was not technically exhaustive, in terms of the
inspection of mechanical systems. The inspection does not offer warranties or guarantees of any kind;
The appraiser isn't qualified in the determination of termite and/or infestation damage. There were no obvious evidence/signs with
regard to a termite problem at the time of my inspection.
COPPER MILL SUBDIVISION ZACHARY LA 70791 HOME SALES 2012-2015 YTD

By Bill Cobb, Greater Baton Rouge's Home Appraiser 225-293-1500
Days On Market
180
160
140
120
100
80
60
40
20
0
Median Sales Price

161
123
108
Days On
Market
88
Total Number
of Sales
Linear (Days
On Market)
2012
2013
2014
2015
$408,600
$420,000
$410,000
$400,000
$372,000
$390,000
$362,500
$380,000 $365,000
$370,000
$360,000
$350,000
$340,000
$330,000
2012 2013 2014 2015
$143
$144
4.00%
$141
$138
$142
3.00%
3.00%
Discount off
Listings
$140
Price Per
Square Foot
$138
$136
Linear
(Discount off
Listings)
1.00%
Linear (Median
Sales Price)
Price Per Square Foot
Discount off List Price

4.50%
4.00%
3.50%
3.00%
2.50%
2.00%
1.50%
1.00%
0.50%
0.00%
Median Sales
Price
$134
Linear (Price
Per Square
Foot)
$134
$132
$130
$128
2012
2013
2014
2015
2012
2013
2014
2015
Based on infor from Greater Baton Rouge Association of REALTORS\MLS 1/1/2012 to 03/06/2015,
extracted on 03/06/2015.
SUMMARY OF SALIENT FEATURES

VALUE
APPRAISER
DESCRIPTION OF IMPROVEMENTS
CLIENT
SALES PRICE
SUBJECT INFORMATION
File No.
Subject Address
Legal Description
Lot 000, Oak Hills
City
Baton Rouge
County
State
LA
Zip Code
70810
Census Tract
0040.06
Map Reference
Metro Key 682-E
Sale Price
$ N/A.
Date of Sale
N/A.
Borrower / Client
Sample Client
Lender
Sample Client
Size (Square Feet)
2,556
Price per Square Foot
$ 131.04
Location
Sub/Hickory Ridge
Age
24+/-
Condition
Avg/Needs Repairs
Total Rooms
Bedrooms
Baths
3.00
Appraiser
William D. Cobb
Date of Appraised Value
01/01/2015
Final Estimate of Value
$ 300,000 to $400,000
Flood Map No.
22033C0330E
PreListingSample
Fannie Mae

Desktop Underwriter Quantitative Analysis Appraisal Report

PreListingSample
File No.
THIS SUMMARY APPRAISAL IS INTENDED FOR USE BY THE LENDER/CLIENT FOR A MORTGAGE FINANCE TRANSACTION ONLY.
S
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City Baton Rouge

State LA
Zip Code 70810
County
Lot 000, Oak Hills
Assessor's Parcel No. SAMPLE PRE-LISTING APPRAISAL REPORT
Tax Year 2014
R.E. Taxes $
1,500.00 Special Assessments $
N/A.
Borrower Sample Client
Current Owner
Occupant
Tenant
Vacant
X Owner
Sample Client
Neighborhood or Project Name
Project Type
PUD
Condominium
HOA$
Baton Rouge LA 70810 - Oak Hills
N/A. /Mo.
Sales Price $
Date
of
Sale
Description
/
$
amount
of
loan
charges/concessions
to
be
paid
by
seller
N/A.
N/A.
N/A.
Property rights appraised
Leasehold
Map Reference Metro Key 682-E
Census Tract 0040.06
X Fee Simple
Property Address
Legal Description
Note: Race and the racial composition of the neighborhood are not appraisal factors.
X Suburban
Location
Urban
Built up
X Over 75%
Growth rate
X Stable
Rapid
X Stable
X In balance
Under 3 mos. X 3-6 mos.
Rural
Property Values
Increasing
Declining
Single family housing Condominium housing
Under 25%
Demand/supply
Shortage
Over supply
PRICE
$(000)
Slow
Marketing time
North by I-10, South by Burbank Dr, East by Pecue Ln and W est by Staring
Ln. 2013-2014 Oak Hills Area: 47 Sales $176K to $539K, Median Price $310K, Avg Sold:$124/sf,
Avg SP/LP% :98% , Avg DOM: 54 Days.
Dimensions 89.51Fx140LSx82.33Rx115.01RS
Site area 10955 +/- sq. ft.
zoning
classification
X
S Zoning compliance
I Highest and best use of
T Utilities
Public
E
Gas
there any
Source(s)
Legal
Legal nonconforming (Grandfathered use)
Other
Public
physical
site conditions
(easements,
characteristics of property:
Assessment and tax records
1.5
AGE
(if applic.) (yrs)
0 70
90 300
Predominant
4
35
Low
High
Predominant
310
40 145
Shape
30
Irregular
Type (Det./Att.)
No zoning
Present use
Street
assessments, slide
X Interior and exterior inspection

Prior inspection
X Property owner
Public
Private
areas, etc.)?
Yes
No
Exterior inspection from street
If Yes, attach description.

Previous appraisal files
Other (Describe):
Roof Surface
Brick/Siding
Type
Asphalt
N/A.
Alley
encroachments, special
Detatched Exterior Walls
Other use, attach description.
Off-site improvements
Other
X
X
Water
Sanitary sewer
MLS
No. of Stories
Illegal, attach description
subject property as improved (or as proposed per plans and specifications):
apparent adverse
used for
PRICE
$(000)
description A-1, Single Family Residential
X
X
Electricity
Are
and
AGE
(yrs)
Low
90
High
10,000
Over 6 mos.
Neighborhood boundaries
Specific
I
M
P
R
O
V
E
M
E
N
T
S
25-75%
Manufactured Housing
Composition
X Yes
Does the property generally conform to the neighborhood in terms of style, condition, and construction materials?
No
Yes
No
If No, attach description.
Are there any apparent physical deficiencies or conditions that would affect the soundness or structural integrity of the improvements or the livability of the property?
Yes
No
*** See Additional Comments ***
Are there any apparent adverse environmental conditions (hazardous wastes, toxic substances, etc.) present in the improvements, on the site, or in the immediate
vicinity of the subject property?
Yes
No
*** See Additional Comments ***
I researched the subject market area for comparable listings and sales that are the most similar and proximate to the subject property.
My research revealed a total of 9
sales ranging in sales price from $
My research revealed a total of 6
listings ranging in list price from $
The
analysis
of
the
comparable sales
FEATURE
below

Proximity to Subject
Sales Price
Price/Gross Liv. Area
Sales or Financing
Concessions
Date of Sale/Time
Location
Site
View
Design (Style)
S
A
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E
S
Actual Age (Yrs.)

Condition
Total
of Comparables
significant
Bdrm s
4
2,556
between
319,000
Baths
Total
3.00
Bdrm s
4
2,262
Porches
Storage
Garage 2
Porches
Storage
Garage 2
FP 1 / Fence
Slab Granite
FP 1 / Fence
Slab Granite
X +
-
sales
and
the
subject
property.
SALE 3
395,000
DESCRIPTION
+ (-) $ Adjustm ent
CONV $0 Pd.
27 D.O.M.
04/02/2014
Sub/Oak Hills
11200 sf
Residential
1Story/Traditional
20+/-25,000 Good
Total
10,000
19,698
Sq. Ft.
Bdrm s
4
2,618
Total
FP1 / Fnc / IG Pool

Slab Granite
+
X $
4,698
323,700
DESCRIPTION
Gross 10.9%
Net -8.9%
+ (-) $ Adjustm ent
CASH $0 Pd.
25 D.O.M.
08/18/2014
Sub/Oakridge
14715 sf
Residential
1Story/Traditional
15+/-25,000 Good
3.00
Porches
Storage
Carport 2
MLSBOX#201407376/Legal News
Baths
Sq. Ft.
365,000
137.58
+ (-) $ Adjustm ent
2.50
1817 Plantation Oaks Dr

1.14 miles N
150.88
Baths
Gross 17.1%
Net 1.5%
the
10360 Dunn
0.36 miles E
141.03
DESCRIPTION
Sq. Ft.
variations
395,000 .
385,000 .
SALE 2
CONV $0 Pd.
15 D.O.M.
05/09/2014
Sub/Hickory Ridge Sub/Oak Hills
10955 +/- sq. ft.
11200 sf
Residential
Residential
1.5Story/Traditional 1Story/Traditional
24+/24+/Avg/Needs Repairs Good
Room Count
C
O Basement & Finished
M Rooms Below Grade
P
Garage/Carport
A
R Extras
I Kitchen Counters
S
Net Adj. (total)
O
N Adjusted Sales Price
to
DESCRIPTION
Above Grade
Gross Living Area
reaction
SALE 1
N/A.
$
131.04
Data & Verification Sources
VALUE ADJUSTMENTS
market
908 Pastureview Dr
0.28 miles NE
Address
Q
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V
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reflects
SUBJECT
319,000 to $
320,000 to $
-4,154
Bdrm s
4
2,653
Baths
3.00
Sq. Ft.
Porches
Storage
4,000 Garage 2
-10,000 FP 2 / Fence
Slab Granite
+
X -35,154
359,800
-5,000
-25,000
Gross 10.4%
Net -10.4%
-6,499
-1,500
$
-37,999
327,000
A Date of Prior Sale

None 36 Mths
None Noted In Past 12 Months
N
$
Per Deedfax $
deedfaxonline.com $
deedfaxonline.com $
deedfaxonline.com
A Price of Prior Sale
L Analysis of any current agreem ent of sale, option, or listing of the subject property and analysis of the prior sales of subject and com parables:
See FIRREA
Y
Addendum, SAMPLE PRE- LISTING APPRAISAL REPOR T
S
I Summary of sales comparison and value conclusion: Comps 1-9 are the most recently sold and closest available. Consideration of
S adjustments within Site/View section are representative of market reactions for differences in site values and not necessarily
difference for physical size. Adjustments for differences in site value, quality, age, condition, # of bathrooms, living area size and
other amenities noted. Subject's living area bracketed. Adjusted sales prices of 9 comps $323,700, $359,800, $327,000, $339,900,
$350,200, $318,800, $342,300, $308,800 to $320,900, support reconciled recommended listing price range of $300,000 to $400,000
opinion (FOR THIS SAMPLE REPORT). Condition Adjustment is based on need for a new roof, rotten wood replacement, need for
exterior painting and some interior touch up painting.
This appraisal is m ade X "as is",
subject to com pletion per plans and specifications on the basis of a hypothetical condition that the im provem ents have been com pleted, or
subject to the following repairs, alterations or conditions:
BASED ON AN
EXTERIOR INSPECTION FROM THE STREET OR AN
OF THE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT TO BE $

10 CH.
INTERIOR AND EXTERIOR INSPECTION, I ESTIMATE THE MARKET VALUE, AS DEFINED,
300,000 to $400,000 , AS OF
PAGE 1 OF 3
01/01/2015
Fannie Mae Form 2055
.
9-96
Additional Comparables
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Borrower or Owner
Sample Client
City Baton Rouge
County
Lender or Client
Sample Client
Property Address
FEATURE

Sales Price
Date of Sale/Time
View
Design (Style)
Actual Age (Yrs.)
Condition
Total
Room Count
Basement & Finished

Rooms Below Grade
Garage/Carport
Extras
Kitchen Counters
of Comparables
Date of Prior Sale
Price of Prior Sale
Bdrm s
4
2,556
Porches
Storage
Garage 2
FP 1 / Fence
Slab Granite
Net Adj. (total)

Adjusted Sales Price
140.13
+ (-) $ Adjustm ent
Baths
Total
3.00
Sq. Ft.
Bdrm s
4
2,512
Porches
Storage
Carport 2
FP 1 / Fence
Ceramic Tile
+
X -
515 Autumn Oaks Dr

1.61 miles E
375,000
135.04
DESCRIPTION
+ (-) $ Adjustm ent
Total
3.00
Sq. Ft.
8
2,948
Bdrm s
4
2,777
Porches
Storage
4,000 Carport 2
FP 1 / Fence
6,000 Ceramic Tile
+
X -12,052
DESCRIPTION
+ (-) $ Adjustm ent
Sub/Live Oak Est.

12445 sf
Residential
1Story/Traditional
-5,000 26+/-25,000 Good
Baths
2.50
Sq. Ft.
Total
10,000
-14,807
345,000
131.78
CONV $5000 Pd.

23 D.O.M.
07/22/2014
Sub/Oakridge
16490sf
Residential
1.5Story/Traditional
15+/-25,000 Good
Baths
$
$
VA $0 Pd.
78 D.O.M.
01/23/2014
Sub/Hickory Ridge Sub/Highland Trace

10955 +/- sq. ft.
10800sf
Residential
Residential
Above Grade
Gross Living Area
352,000
CONV $800 Pd.

3 D.O.M.
08/22/2014
Concessions
SALE 6

1.07 miles N
$
DESCRIPTION
Sales or Financing
Site
70810
SALE 5
DESCRIPTION
Zip Code
LA
SALE 4
N/A.
$
131.04
Location
State
132 Highland Trace Dr

0.87 miles SE
VALUE ADJUSTMENTS
SUBJECT
Address
S
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File No. PreListingSample
Bdrm s
4
2,618
2,453
-2,000
-20,000
Baths
2.50
Sq. Ft.
Storage
4,000 Garage 2
FP1 / Fnc / IG Pool
6,000 Slab Granite
+
X - $
-24,807
10,000
-4,154
-10,000
-26,154
Gross 10.8%
Gross 17.3%
Gross 13.4%
$
$
$
339,900
350,200
318,800
Net -3.4%
Net -6.6%
Net -7.6%
None 36 Mths
$
Per Deedfax $
deedfaxonline.com $
deedfaxonline.com $
deedfaxonline.com
Comments on Sales Comparison:
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Additional Comparables
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Borrower or Owner
Sample Client
City Baton Rouge
County
Lender or Client
Sample Client
Property Address
FEATURE

Sales Price
Date of Sale/Time
View
Design (Style)
Actual Age (Yrs.)
Condition
Total
Room Count
Basement & Finished

Rooms Below Grade
Garage/Carport
Extras
Kitchen Counters
Porches
Storage
Garage 2
FP 1 / Fence
Slab Granite
Baths
Total
3.00
Sq. Ft.
Bdrm s
4
2,670
Porches
Storage
Garage 2
FP 1 / Fence
Slab Granite
+
X -
Gross 8.7%
Net -8.7%
Adjusted Sales Price

of Comparables
Price of Prior Sale
Bdrm s
4
2,556
Net Adj. (total)
Date of Prior Sale
140.41
+ (-) $ Adjustm ent
2133 Oakcliff Dr
1.25 miles N
322,751
124.86
DESCRIPTION
+ (-) $ Adjustm ent
Total
3.00
Sq. Ft.
8
-7,638
Bdrm s
4
2,585
Porches
Storage
Garage 2
FP 1 / Fence
Ceramic Tile
+
X -32,638
Gross 8.1%
Net -4.3%
342,300
338,000
137.34
DESCRIPTION
+ (-) $ Adjustm ent
CONV $0 Pd.
5 D.O.M.
05/31/2013
Sub/Oak Hills
12750 sf
Residential
1Story/Traditional
20+/-25,000 Good
Baths
$
$
CONV $0 Pd.
44 D.O.M.
06/10/2013
Sub/Hickory Ridge Sub/Oak Hills

10955 +/- sq. ft.
12690 sf
Residential
Residential
Above Grade
Gross Living Area
374,900
CONV $0 Pd.
9 D.O.M.
05/30/2013
Concessions
SALE 9
12730 Roan Ave

0.40 miles E
$
DESCRIPTION
Sales or Financing
Site
70810
SALE 8
DESCRIPTION
Zip Code
LA
SALE 7
N/A.
$
131.04
Location
State
10318 Rustic Oak Dr

0.44 miles E
VALUE ADJUSTMENTS
SUBJECT
Address
S
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Sub/Oak Hills Xing

11200sf
Residential
1.5Story/Traditional
20+/-20,000 Good
Baths
Total
3.00
Sq. Ft.
Bdrm s
4
2,461
3.50
Sq. Ft.
Porches
Storage
Carport 2
FP 1 / Fence
6,000 Slab Granite
+
X -14,000
308,800
-25,000
Baths
Gross 11.2%
Net -5.1%
-2,500
6,365
4,000
-17,135
320,900
None 36 Mths
$
Per Deedfax $
deedfaxonline.com $
deedfaxonline.com $
deedfaxonline.com
Comments on Sales Comparison:
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S
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PRE-LISTING SAMPLE - Appraisal Report

PreListingSample
File No.
Project Information for PUDs (If applicable) - - Is the developer/builder in control of the Home Owners' Association (HOA)?
Yes
No
Provide the following information for PUDs only if the developer/builder is in control of the HOA and the subject property is an attached dwelling unit:
P
U
D
Total number of phases N/A
Total
Total number of units rented
Total number of units for sale
number of units N/A
Was the project created by the conversion of existing buildings into a PUD?
Does the project contain any multi-dwelling units?
Yes
Are
No
the
common
elements
completed?
Yes
No
common
elements
and
recreational
Data Source(s)
Yes
No
If yes, date of conversion:
Data Source:
If No, describe status of completion:
Are any common elements leased to or by the Home Owners' Association?

Describe
Total number of units sold N/A
Yes
No
If yes, attach addendum describing rental terms and options.
facilities:
Project Information for Condominiums (If applicable) - - Is the developer/builder in control of the Home Owners' Association (HOA)?
Provide
C
O
N
D
O
M
I
N
I
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the
following
information
for
all
Condominium
Total number of phases
Total
Total number of units rented
Total number of units for sale
number of units
Primary Residence
Condition
of
Are
common
the
project,
quality
elements
of
Second Home or Recreational
construction,
completed?
unit
mix,
Data Source(s)
Yes
common
elements
recreational
No
Row or Townhouse
If yes, date of conversion:

Garden
Midrise
Highrise
No
If No, describe status of completion:
Yes
No
If yes, attach addendum describing rental terms and options.
facilities:
APPRAISAL: The purpose of this appraisal is to estimate the market value of the real property that is the subject of
PURPOSE
OF
this
based
report
and
Yes
etc.:
Are any common elements leased to or by the Home Owners' Association?

Describe
No
Total number of units sold
Was the project created by the conversion of existing buildings into a condominium?
Project Type:
Yes
Projects:
on
quantitative
sales
comparison
analysis
for
use
in
mortgage
finance
transaction.
OF MARKET VALUE: 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; (3) a reasonable time is allowed for exposure in the open market; (4) payment
is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the
normal consideration for the property sold unaffected by special or creative financing or sales concessions* granted by anyone
associated with the sale.
DEFINITION
*Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary
for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable
since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the
comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the
property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession
but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the
appraiser's
judgement.
STATEMENT
CONTINGENT
following
AND
LIMITING
OF
LIMITING
CONDITIONS: The
CONDITIONS
appraiser's
AND
certification
APPRAISER'S
that
appears
in
CERTIFICATION
the
appraisal
report
is
subject
to
the
conditions:
1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it. The
appraiser assumes that the title is good and marketable and, therefore, will not render any opinions about the title. The property is
appraised on the basis of it being under responsible ownership.
2. The appraiser has provided any required sketch in the appraisal report to show approximate dimensions of the improvements and
the sketch is included only to assist the reader of the report in visualizing the property and understanding the appraiser's determination
of its size.
3. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless
specific arrangements to do so have been made beforehand.
4. The appraiser has noted in the appraisal report any adverse conditions (such as, but not limited to, needed repairs, the presence
of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he or she became aware
of during the normal research involved in performing the appraisal. Unless otherwise stated in the appraisal report, the appraiser has
no knowledge of any hidden or unapparent conditions of the property or adverse environmental conditions (including the presence of
hazardous wastes, toxic substances, etc.) that would make the property more or less valuable, and has assumed that there are no such
conditions and makes no guarantees or warranties, expressed or implied, regarding the condition of the property. The appraiser will
not be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whether
such conditions exist. Because the appraiser is not an expert in the field of environmental hazards, the appraisal report must not be
considered as an environmental assessment of the property.
5. The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that he
or she considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracy
of such items that were furnished by other parties.
6. The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional
Appraisal
Practice.
7. The appraiser must provide his or her prior written consent before the lender/client specified in the appraisal report can distribute
the appraisal report (including conclusions about the property value, the appraiser's identity and professional designations, and
references to any professional appraisal organizations or the firm with which the appraiser is associated) to anyone other than the
borrower; the mortgagee or its successors and assigns; the mortgage insurer; consultants; professional appraisal organizations; any
state or federally approved financial institution; or any department, agency, or instrumentality of the United States or any state or the
District of Columbia; except that the lender/client may distribute the report to data collection or reporting service(s) without having to
obtain the appraiser's prior written consent. The appraiser's written consent and approval must also be obtained before the appraisal
can be conveyed by anyone to the public through advertising, public relations, news, sales, or other media.
8. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to completion per plans
and specifications on the basis of a hypothetical condition that the improvements have been completed.
9. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to completion, repairs,
or alterations on the assumption that completion of the improvements will be performed in a workmanlike manner.
10 CH.
PAGE 2 OF 3
9-96
PRE-LISTING SAMPLE - Appraisal Report

PreListingSample

APPRAISER'S
CERTIFICATION:
The
Appraiser
certifies
and
agrees
File No.
that:
1. I performed this appraisal by (1) personally inspecting from the street the subject property and neighborhood and each of the
comparable sales (unless I have otherwise indicated in this report that I also inspected the interior of the subject property); (2) collecting,
confirming, and analyzing data from reliable public and/or private sources; and (3) reporting the results of my inspection and analysis
in this summary appraisal report.
I further certify that I have adequate information about the physical characteristics of the subject
property and the comparable sales to develop this appraisal.
2. I have researched and analyzed the comparable sales and offerings/listings in the subject market area and have reported the
comparable sales in this report that are the best available for the subject property.
I further certify that adequate comparable market
data exists in the general market area to develop a reliable sales comparison analysis for the subject property.
3. I have taken into consideration the factors that have an impact on value in my development of the estimate of market value in the
appraisal report.
I further certify that I have noted any apparent or known adverse conditions in the subject improvements, on the subject
site, or on any site within the immediate vicinity of the subject property of which I am aware, have considered these adverse conditions
in my analysis of the property value to the extent that I had market evidence to support them, and have commented about the effect
of the adverse conditions on the marketability of the subject property.
I have not knowingly withheld any significant information from
the appraisal report and I believe, to the best of my knowledge, that all statements and information in the appraisal report are true and
correct.
4. I stated in the appraisal report only my own personal, unbiased, and professional
subject only to the contingent and limiting conditions specified in this form.
analysis,
opinions,
and
conclusions,
which
are
5. I have no present or prospective interest in the property that is the subject of this report, and I have no present or prospective personal
interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my analysis and/or the
estimate of market value in the appraisal report on the race, color, religion, sex, age, marital status, handicap, familial status, or national
origin of either the prospective owners or occupants of the subject property or of the present owners or occupants of the properties
in the vicinity of the subject property or on any other basis prohibited by law.
6. I have no present or contemplated future interest in the subject property, and neither my current
compensation for performing this appraisal is contingent on the appraised value of the property.
or
future
employment
nor
my
7. I was not required to report a predetermined value or direction in value that favors the cause of the client or any related party, the
amount of the value estimate, the attainment of a specific result, or the occurrence of a subsequent event in order to receive my
compensation and/or employment for performing the appraisal. I did not base the appraisal report on a requested minimum valuation,
a specific valuation, or the need to approve a specific mortgage loan.
8. I estimated the market value of the real property that is the subject of this report based on the sales comparison approach to value.
I further certify that I considered the cost and income approaches to value, but, through mutual agreement with the client, did not
develop them, unless I have noted otherwise in this report.
9. I performed this appraisal as a limited appraisal, subject to the Departure Provision of the Uniform Standards of Professional
Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were
in place as of the effective date of the appraisal (unless I have otherwise indicated in this report that the appraisal is a complete
appraisal, in which case, the Departure Provision does not apply).
10. I acknowledge that an estimate of a reasonable time for exposure in the open market is a condition in the definition of market value.
The exposure time associated with the estimate of market value for the subject property is consistent with the marketing time noted
in the Neighborhood section of this report.
The marketing period concluded for the subject property at the estimated market value is
also consistent with the marketing time noted in the Neighborhood section.
11. I personally prepared all conclusions and opinions about the real estate that were set forth in the appraisal report. I further certify
that no one provided significant professional assistance to me in the development of this appraisal.
CERTIFICATION: If a supervisory appraiser signed the appraisal report, he or she certifies and agrees
APPRAISER'S
that: I directly supervise the appraiser who prepared the appraisal report, have examined the appraisal report for the compliance with the
Uniform Standards of Professional Appraisal Practice, agree with the statements and conclusions of the appraiser, agree to be bound
by the appraiser's certifications numbered 5 through 7 above, and am taking full responsibility for the appraisal and the appraisal report.
SUPERVISORY
APPRAISER:
SUPERVISORY
Signature:
Company Name:
Company Address:
P.O. Box 40515
Signature:
Name:
Company Name:
Company Address:
APPRAISER
(ONLY IF
REQUIRED):
Date of Report / Signature: June 1, 2015

State Certification #: 851
or State License #:
State: LA
Expiration Date of Certification or License: 12/31/2015
ADDRESS
OF
PROPERTY
Date of Report / Signature:

or State License #:
State:
Expiration Date of Certification
APPRAISED:
SUPERVISORY
APPRAISER:
Did not inspect subject property

Did inspect exterior of subject property from street
Did inspect interior and exterior of subject property
$
APPRAISED VALUE OF SUBJECT PROPERTY300,000
to $400,000
EFFECTIVE DATE OF APPRAISAL / INSPECTION 01/01/15
COMPARABLE SALES
LENDER/CLIENT:
10 CH.
License:
SUBJECT PROPERTY

Name:
Company Name:
Company Address:
or
Did not inspect exterior of comparable sales from street

Did inspect exterior of comparable sales from street
Sample Client
12345 Hickory Ridge Blvd, Baton Rouge, LA 70800
PAGE 3 OF 3
9-96

PreListingSample
File No.
SKETCH HAS ROOM SIZES FOR MLS SHEET

Borrower or Owner
Sample Client
City
County
Baton Rouge
Client
Sample Client
Property Address
State
Zip Code
LA
70810
16.3'
Covered Patio
3.
7'
Main
Bathroom
CL
36.5'
1.5'
8.1'
28.3'
Covered Porch
97sf
16.4'
Walkin
Closet
172sf
12.1'
8.1'
21.2'
Dining
Bedroom
CL
Living Room
Hollywood
Bathroom
13.8x14.8
Closet
10'
8.8'
11x12
11.5'
17.3'
1.4'
Storage
Closet
Bedroom
4.5'
Cov Porch
3.2'
Laundry
11.8'
9.4'
5.7'
11x12
11x12.4
Hall
Pantry
CL
CL
Bedroom
Shared
Bathroom
Foyer
Kitchen
4.8'
Main Bedroom
19x21
Hall
30.1'
11x11
9.5x12
4'
1.9'
18.4'
LIVING AREA SIZE: 2,140sf
2 Auto Garage
514sf
24.5'
22.6'
TOTAL SQ. FT. UNDER ROOF: 3,012SF
22.4'
Sketch by Apex Sketch v5 Standard
Comments:
AREA CALCULATIONS SUMMARY

Code
Description
GLA1
GAR
P/P
First Floor
Two Auto Garage
Covered Porch
Covered Patio
Covered Porch
Storage Area
OTH
Net Size
2140.20
513.84
32.30
171.72
97.20
56.64
LIVING AREA BREAKDOWN

Net Totals
2140.20
513.84
Breakdown
301.22
56.64
0.5 x
Net LIVABLE Area
(rounded)
2140
Subtotals
First Floor
11 Items
2.8
1.5
20.3
2.2
6.6
0.4
1.9
2.9
2.6
12.1
32.7
x
x
x
x
x
x
x
x
x
x
x
22.4
35.3
63.6
17.3
53.6
31.8
6.6
10.6
2.6
16.3
2.6
(rounded)
62.72
52.95
1291.08
38.06
353.76
12.72
12.54
30.74
3.38
197.23
85.02
2140

PreListingSample
File No.
REGIONAL MAP
Borrower or Owner
Sample Client
City
County
Baton Rouge
Client
Sample Client
Property Address
State
LA
Zip Code
70810

PreListingSample
File No.
AERIAL VIEW
Borrower or Owner
Sample Client
City
County
Baton Rouge
Client
Sample Client
Property Address
State
LA
Zip Code
70810

PreListingSample
File No.
AERIAL VIEW
Borrower or Owner
Sample Client
City
County
Baton Rouge
Client
Sample Client
Property Address
State
LA
Zip Code
70810

PreListingSample
File No.
Neighborhood Boundaries Addendum

Borrower or Owner
Sample Client
City
County
Baton Rouge
Client
Sample Client
Property Address
State
LA
Zip Code
70810

PreListingSample
File No.
SITE PLAN WITH LOT SIZES

Borrower or Owner
Sample Client
City
County
Baton Rouge
Client
Sample Client
Property Address
State
LA
Zip Code
70810

PreListingSample
File No.
FLOOD MAP
Borrower or Owner
Sample Client
City
County
Baton Rouge
Client
Sample Client
Property Address
State
LA
Zip Code
70810

PreListingSample
File No.
PHOTOGRAPH ADDENDUM
Borrower or Owner
Sample Client
City
County
Baton Rouge
Client
Sample Client
Property Address
State
LA
Zip Code
70810
FRONT VIEW OF
SUBJECT PROPERTY
REAR VIEW OF
SUBJECT PROPERTY
STREET SCENE OF
SUBJECT PROPERTY

File No.
PreListingSample
PHOTOGRAPH ADDENDUM
Borrower or Owner
Property Address
City
Client
Sample Client
Baton Rouge
County
State
LA
Sample Client
EXTENDED VIEW 1
EXTENDED VIEW 2
535 Pastureview Dr
535 Pastureview Dr
EXTENDED VIEW 3
EXTENDED VIEW 4
EXTENDED VIEW 5
EXTENDED VIEW 6
Zip Code
70810

File No.
PreListingSample
PHOTOGRAPH ADDENDUM
Borrower or Owner
Property Address
City
Client
Sample Client
Baton Rouge
County
State
LA
Sample Client
EXTENDED VIEW 7
EXTENDED VIEW 8
EXTENDED VIEW 9
EXTENDED VIEW 10
EXTENDED VIEW 11
EXTENDED VIEW 12
Zip Code
70810

File No.
PreListingSample
PHOTOGRAPH ADDENDUM
Borrower or Owner
Property Address
City
Client
Sample Client
Baton Rouge
County
State
LA
Sample Client
EXTENDED VIEW 13
EXTENDED VIEW 14
EXTENDED VIEW 15
EXTENDED VIEW 16
EXTENDED VIEW 17
EXTENDED VIEW 18
Zip Code
70810

File No.
PreListingSample
PHOTOGRAPH ADDENDUM
Borrower or Owner
Property Address
City
Client
Sample Client
Baton Rouge
County
State
LA
Sample Client
EXTENDED VIEW 19
EXTENDED VIEW 20
EXTENDED VIEW 21
EXTENDED VIEW 22
EXTENDED VIEW 23
EXTENDED VIEW 24
Zip Code
70810

File No.
PreListingSample
PHOTOGRAPH ADDENDUM
Borrower or Owner
Property Address
City
Client
Sample Client
Baton Rouge
County
State
LA
Sample Client
EXTENDED VIEW 25
EXTENDED VIEW 26
EXTENDED VIEW 27
EXTENDED VIEW 28
EXTENDED VIEW 29
EXTENDED VIEW 30
Zip Code
70810

File No.
PreListingSample
PHOTOGRAPH ADDENDUM
Borrower or Owner
Property Address
City
Client
Sample Client
Baton Rouge
County
State
LA
Sample Client
EXTENDED VIEW 31
EXTENDED VIEW 32
EXTENDED VIEW 33
EXTENDED VIEW 34
EXTENDED VIEW 35
EXTENDED VIEW 36
Zip Code
70810

File No.
PreListingSample
PHOTOGRAPH ADDENDUM
Borrower or Owner
Property Address
City
Client
Sample Client
Baton Rouge
County
State
LA
Sample Client
EXTENDED VIEW 37
EXTENDED VIEW 38
EXTENDED VIEW 39
EXTENDED VIEW 40
EXTENDED VIEW 41
EXTENDED VIEW 42
Zip Code
70810

File No.
PreListingSample
PHOTOGRAPH ADDENDUM
Borrower or Owner
Property Address
City
Client
Sample Client
Baton Rouge
County
State
LA
Sample Client
EXTENDED VIEW 43
EXTENDED VIEW 44
EXTENDED VIEW 45
EXTENDED VIEW 46
EXTENDED VIEW 47
EXTENDED VIEW 48
Zip Code
70810

File No.
PreListingSample
PHOTOGRAPH ADDENDUM
Borrower or Owner
Property Address
City
Client
Sample Client
Baton Rouge
County
State
LA
Sample Client
EXTENDED VIEW 49
EXTENDED VIEW 50
535 Pastureview Dr
535 Pastureview Dr
EXTENDED VIEW 51
EXTENDED VIEW 52
EXTENDED VIEW 53
Zip Code
70810

PreListingSample
File No.
Location Map
Borrower or Owner
Sample Client
City
County
Baton Rouge
Client
Sample Client
Property Address
State
LA
Zip Code
70810

PreListingSample
File No.
PHOTOGRAPH ADDENDUM
Borrower or Owner
Sample Client
City
County
Baton Rouge
Client
Sample Client
Property Address
State
LA
Zip Code
70810
COMPARABLE #1
908 Pastureview Dr
Price
Price/SF
Date
Age
Room Count
Living Area
Value Indication
$319,000
141.03
05/09/2014
24+/7-4-2.50
2,262
$323,700
COMPARABLE #2
10360 Dunn
Price
Price/SF
Date
Age
Room Count
Living Area
Value Indication
$395,000
150.88
04/02/2014
20+/8-4-3.00
2,618
$359,800
COMPARABLE #3
Price
Price/SF
Date
Age
Room Count
Living Area
Value Indication
$365,000
137.58
08/18/2014
15+/8-4-3.00
2,653
$327,000

PreListingSample
File No.
PHOTOGRAPH ADDENDUM
Borrower or Owner
Sample Client
City
County
Baton Rouge
Client
Sample Client
Property Address
State
LA
Zip Code
70810
COMPARABLE #4
132 Highland Trace Dr
Price
Price/SF
Date
Age
Room Count
Living Area
Value Indication
$352,000
140.13
08/22/2014
20+/8-4-3.00
2,512
$339,900
COMPARABLE #5
Price
Price/SF
Date
Age
Room Count
Living Area
Value Indication
$375,000
135.04
01/23/2014
15+/8-4-2.50
2,777
$350,200
COMPARABLE #6
515 Autumn Oaks Dr
Price
Price/SF
Date
Age
Room Count
Living Area
Value Indication
$345,000
131.78
07/22/2014
26+/7-4-2.50
2,618
$318,800

PreListingSample
File No.
PHOTOGRAPH ADDENDUM
Borrower or Owner
Sample Client
City
County
Baton Rouge
Client
Sample Client
Property Address
State
LA
Zip Code
70810
COMPARABLE #7
10318 Rustic Oak Dr
Price
Price/SF
Date
Age
Room Count
Living Area
Value Indication
$374,900
140.41
05/30/2013
20+/8-4-3.00
2,670
$342,300
COMPARABLE #8
12730 Roan Ave
Price
Price/SF
Date
Age
Room Count
Living Area
Value Indication
$322,751
124.86
06/10/2013
20+/8-4-3.00
2,585
$308,800
COMPARABLE #9
2133 Oakcliff Dr
Price
Price/SF
Date
Age
Room Count
Living Area
Value Indication
$338,000
137.34
05/31/2013
20+/8-4-3.50
2,461
$320,900

PreListingSample
File No.
ADDITIONAL COMMENTS
Borrower or Owner
Sample Client
City
County
Baton Rouge
Lender or Client
Sample Client
Property Address
State
LA
Zip Code
70810
SCOPE OF THE APPRAISAL

EXPOSURE TIME:
There is an effective number of completing properties on the market in this area. This indicates that Supply and
Demand are in balance. Reasonable exposure period is estimated to be 3-6 months. Typical holding period is
5-7 Years and is based on national housing trends.
2014-2015 USPAP Compliance Certification:
This appraiser did not pay a fee to secure this appraisal assignment. This appraiser has not appraised the
subject property within the previous 36 months. This appraiser doesn't have any current or prospective interest
in the subject property or parties involved.
NOTE: This 09/1996 Fannie Mae Form 2055 is believed to comply with 2014-2015 USPAP guidelines.
Scope of Work
The scope of work for this appraisal was defined by the complexity of this appraisal assignment and the
reporting requirements of this appraisal report form, including the following definition of market value, statement
of assumptions and limiting conditions, and certifications. I, the appraiser (1) performed a complete visual
inspection of the interior and exterior areas of the subject property, (2) inspected the neighborhood, (3) inspected
each of the comparable sales from at least the street, (4) researched, verified, and analyzed data from reliable
public and/or private sources, and (5) reported my analysis, opinions, and conclusions in this appraisal report.
The supervising appraiser has inspected the property at a previous date and did not do another onsite
inspection.
PRIVACY POLICY
Pursuant to the Gramm-Leach-Bliley Act of 1999, effective July 2, 2001, Appraisers, along with all
providers of personal financial services are now required by federal law to inform their clients of the
policies of the firm with regard to the privacy of client nonpublic personal information. As professionals,
we understand that your privacy is very important to you and are pleased to provide you with this
information.
Types of Nonpublic Personal Information
We CollectIn the course of performing appraisals, we may collect what is known as "nonpublic personal
information" about you. This information is used to facilitate the services that we provide to you and may include
the information provided to us by you directly or received by us from others with your authorization.
Parties To Whom We Disclose Information
We do not disclose any nonpublic personal information obtained in the course of our engagement with our
clients to nonaffiliated third parties, except as necessary or as required by law. By way of example, a necessary
disclosure would be to our employees, and in certain situations, to unrelated third party consultants who need to
know that information to assist us in providing appraisal services to you. All of our employees and any third party
consultants we employ are informed that any information they see as part of an appraisal assignment is to be
maintained in strict confidence within the firm. A disclosure required by law would be a disclosure by us that is
ordered by a court of competent jurisdiction with regard to a legal action to which you are a party.
Confidentiality and Security
We will retain records relating to professional services that we have provided to you for a reasonable time so that
we are better able to assist you with your needs. In order to protect your nonpublic personal information from
unauthorized access by third parties, we maintain physical, electronic and procedural safeguards that comply
with our professional standards to insure the security and integrity of your information. Please feel free to call us
any time if you have any questions about the confidentiality of the information that you provide to us.
Extraordinary Assumptions
The comparables used contain confidential information related to pricing, motivations, negotiations, concessions,
fees, etc, that are not typically made known to those not a part of the agreement or closing. Even when provided
an interview that confirms parts of a transaction, the values herein are based on the assumption that the data
reported to the sources used is correct and reflects the specific marketable features. When more than one
source is stated and there are differences in the levels/amounts of the features relevant for refinement, the
source deemed most reliable and reflective of the comparable as of the date of that respective sale will be used
for comparison.
Signature Certification
The digital signatures in this report are duplicates of the original signature(s) and have not been altered or
changed in any way.
Intended User Certification
The Intended User of this appraisal report is the Client. The Intended Use is to obtain the market value of the
property that is the subject of this appraisal for personal knowledge of the client, subject to the stated Scope of
Work, purpose of the appraisal, reporting requirements of this appraisal report form, and Definition of Market
Value. No additional Intended Users are identified by the appraiser.

PreListingSample
File No.
ADDITIONAL COMMENTS
Page 2
Borrower or Owner
Sample Client
Property Address
City
County
Baton Rouge
Lender or Client
Sample Client
State
LA
Zip Code
70810
Definition/Source of Value
The purpose of this report is to properly relay the appraisal analysis, opinions, and conclusions in a manner that
is objective, impartial, and independent. The value being developed is the most common representation of this
arena participant - market value. By definition, market value is the most probable price a property or properties
should bring in an open competitive market under conditions requisite to a fair impartial sale where the buyer and
seller are both acting knowledgeably and in their own best interest and assuming the price is not affected by
unique stimulus or external forces. 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. The buyer and seller are typically
motivated, 2. Both parties are knowledgeable and acting in their own best interests, 3. a reasonable time is
allowed for the property to be exposed to an open and competitive sale arena, 4. Payment is made in terms of
US cash or equivalent or in terms of financial arrangements comparable thereto, and 5. The price represents the
normal consideration for the property sold unaffected by special or creative financing or sale concessions
granted by anyone associated with the sale. This definition is from regulations published by federal regulatory
agencies pursuant to Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) of
1989 between July and August 1990, by the Federal Reserve System (FRS), by the National Credit Union
Administration, (NCUA), by the Federal Deposit Insurance Corporation (FDIC), by the Office of Comptroller of
the Currency (OCC), and by the Office of Thrift Supervision (OTS), being further referenced in regulations jointly
published in 1994.
LEGAL DESCRIPTION
HOMESTEAD EXEMPTION. The subject property is classified under the Louisiana Homestead Exemption Act
which governs the taxes of owner occupied single family dwellings. The Assessor's Office reported that the
subject property is homestead exempt for the first $75,000 of assessed value.
THE LEGAL DESCRIPTION IS SUBJECT TO TITLE SEARCH VERIFICATION. A LEGAL DESCRIPTION
OTHER THAN THAT INDICATED IN THIS REPORT MAY CHANGE THE ACTUAL LOT DIMENSIONS, WHICH
MAY CHANGE THE VALUE OF THE TOTAL SUBJECT PROPERTY.
NEIGHBORHOOD BOUNDARIES
Boundaries are defined on "Neighborhood Boundaries" Map Addendum. Definition of Neighborhood is on
Appraisal Definitions Addendum.
NEIGHBORHOOD DEFINED. A "Neighborhood" is defined in the Dictionary of Real Estate Appraisal, Third
Edition, 1993, as..."a group of complementary land uses; a congruous grouping of inhabitants, buildings, of
business enterprises". The Appraisal of Real Estate, Tenth Edition, 1992, states, "Neighborhood and district
boundaries identify the physical and area that influences the value of a subject property. These boundaries may
coincide with observable changes in prevailing land use or occupant characteristics. Physical features such as
the type of structures, street patterns, terrain, vegetation, and lot sizes tend to identify land use districts.
Transportation arteries, and changing elevation can also be significant boundaries".
Neighborhood Marketability Comment. The predominant value of the neighborhood/area doesn't adversely
affect the marketability or appraised value of the subject, in the appraiser's estimation. The value of the subject
property, as improved, is within the upper and lower value range of the neighborhood/area defined within the
boundaries noted. There are many homes throughout the subject area similar in size, style, quality and value,
comparable to the subject property. There is no cause for concern in this regard, in the appraiser's estimation.
HIGHEST AND BEST USE

The highest and best use is the current use. As Improved: The effective age is less than the actual age. The
effective age represents the markets reaction to the physical, functional and external condition of the single
family residence currently existing on the site. As Improved, the single family residence meets current zoning
and deed restrictions. Surrounding land use conforms to the use of the subject as improved. Conclusion: In its'
current use, the subject enjoys its' Highest and Best Use as stated.
ADVERSE SITE CONDITIONS

SITE COMMENTS. The appraiser discovered no adverse easements or encroachments. All servitudes,
right-of-ways or rights-of-passage for the subject property appear to be typical and common in the subject's
market area, and do not appear to adversely affect marketability or the appraised market value of the subject
property, in the appraiser's estimation.
CONDITION OF THE IMPROVEMENTS

I AM NOT A HOME INSPECTOR DISCLOSURE.
This appraisal is not a home inspection and the appraiser is not acting as a home inspector when preparing the
report. The borrower has the right to have the home inspected by a professional home inspector;
When performing the brief and limited inspection of this subject property, the appraiser visually observed areas
that were readily accessible, including mechanical systems. The appraiser is not required to disturb or move

PreListingSample
File No.
ADDITIONAL COMMENTS
Page 3
Borrower or Owner
Sample Client
Property Address
City
County
Baton Rouge
Lender or Client
Sample Client
State
LA
Zip Code
70810
anything that obstructs access or visibility;

When completing the appraisal, a visual inspection only was performed. The inspection was not technically
exhaustive, in terms of the inspection of mechanical systems. The inspection does not offer warranties or
guarantees of any kind;
The appraiser isn't qualified in the determination of termite and/or infestation damage. There were no obvious
evidence/signs with regard to a termite problem at the time of my inspection.
SALES COMPARISON
Primary verification source is GBRMLS and secondary is deedfaxonline.com. COE or close of escrow
dates are reported above.
COMPARABLE SALES 6+ MONTHS OLD:

Dates of the Comparable Sales used actual closed dates of sale. The sales dates used are normally less than
one (1) year. Although the date of sale for some comparables are in excess of 6 months old and are beyond
the desired period, these sales all occurred during an equal economical and marketing period as of the date of
the appraisal. The selection of these older sales was made for the lack of more ideal comparable properties.
Appraisal assignments with the subject's features often require a wide search for market data. This wide
extended search is not considered to be a lack of marketability.
SITE VALUE ADJUSTMENTS.
Consideration of adjustments within the Site/View section of this report, when made and where applicable, are
representative of market reactions for differences in the individual site values of each comparable sale as a
whole property, and not necessarily the difference for physical size of each individual comparable whole property.
EXPLANATION OF OTHER ADJUSTMENTS:
Other adjustments made in the Sales Comparison Approach data grid are, for the most part, self explanatory.
When comparing each comparable sale to the subject property under the different categories, ie., room count
(bedroom and bath), gross living area, rooms below grade (storage area), functional utility, energy efficient items
(storm windows/insulated windows/storm doors versus those without these features), car storage,
porches/patios/decks/fireplaces, fences, in-ground swimming pools and differences in Kitchen equipment.
Positive adjustments were made when the comparable is appraised as inferior to the subject and negative
adjustments are made when the comparable is appraised as superior to the subject in each category. The
amount of each adjustment is the appraiser's estimation of market effect a particular difference would make to
the informed buyer in the subject's market. The comparable sales used are among the most similar in
design/appeal and most recent sales available.
LARGE PROXIMITY DISTANCES OF COMPARABLE SALES.
The apparent large proximity distances could not be avoided for lack of more closely located properties, that
could be considered comparable. Appraisal assignments with the subject's features often require a wide search
for market data. This wide search is not considered to be a lack of marketability. Included in this report are
comparable sales that are considered to be the most comparable sales available, that could be considered
useful for this appraisal assignment. The gross and net adjustments on these sales are at or above the typical
FNMA guidelines, but could not be avoided because of the above mentioned reasons.
LARGE GROSS/NET ADJUSTMENTS & LINE ADJUSTMENT EXCEEDED GUIDELINES.
Appraisal assignments with the subject's features often require a wide search for market data. This wide
extended search is not considered to be a lack of marketability. Included in this report are comparable sales that
are considered to be the most comparable sales available, that could be considered useful for this appraisal
assignment. The gross and net adjustments, as well as the size adjustments on these are at or above the
typical FNMA guidelines, but could not be avoided because of the above mentioned reasons. These were the
only comparable sales available in which the appraiser was able to obtain accurate and reliable information.
THE SOURCE OF THE DEFINITION OF MARKET VALUE IS: 12CFR34.42(g)
CONDITIONS OF THE APPRAISAL

******************************************************************************
DIGITAL PHOTO COMMENT. No digital photo presented in this report have been altered in any way, except to
lighten and straighten where appropriate.
*******************************************************************************

F.I.R.R.E.A. ADDENDUM
Borrower or Owner
Sample Client
City
County
Baton Rouge
Lender or Client
Sample Client
Property Address
State
Zip Code
LA
70810
Purpose of the Appraisal

PURPOSE OF THE APPRAISAL. The purpose of this appraisal is to estimate the market value of the fee simple interest in the
property, as defined in the attached FNMA form, as of the date set forth in the reconciliation section of the report. The title is
assumed to be good and marketable.
Scope of Work
Scope of the appraisal is defined as the extent of the process of collecting, confirming and reporting data. Data is collected and
confirmed from the Clerk of court records, The Greater Baton Rouge Association of Realtors Multiple Listing Service, published
Deedfax/Legal News records, the appraiser's file records of properties previously inspected and appraised, and interviews with
persons knowledgeable in the local market. This data is then reported on the attached appraisal forms and addenda in accordance
with the Uniform Standards of Professional Appraisal Practice. This appraisal is an "Appraisal Report" and conforms with USPAP.
This appraisal is intended for the use of the client herein and is not to be released to any third party without the express consent of
this appraiser.
Report of the prior year sales history for the subject property
Is the subject property currently listed?
Yes
Has the property sold during the prior year?
Yes
X
X
No
List Price: $
No
If yes, describe below
No Prior Sales Were Noted In The Past 36 Months Per My Search In www.deedfaxonline.com. Subject is not known to have been
listed within GBRMLS within past 12 months.
Marketing Time
What is your estimate of marketing time for the subject property?
months
Describe below the basis (rationale) for your estimate?
2-4 Months
MLS/CMA, The estimated marketing time period is the same as the Neighborhood section of this report. This estimate is based on the
appraiser's observation of the marketing time for listings and sales within the immediate area and the number of listings to sales.
Non-real property transfers

Does the transaction involve the transfer of personal property, fixtures, or intangibles that are not real property?
Yes
No
If yes, provide description and valuation below.
Additional Comments
Environmental Disclaimer: The value estimated in this report is based on the assumption that the property is not negatively affected
by the existance of hazardous substsnces or detrimental environmental conditions. The appraiser is not an expert in the
identification of hazardous substances or detrimental environmental conditions. The appraiser's routine inspections and enquiries
about the subject property did not develop any information that indicated any apparent significant hazardous substances or
detrimental environmental conditions which would affect the property negatively. It is possible that the tests and inspections made
by a qualified expert would reveal the existance of hazardous materials and environmental conditions on or around the property that
would negatively affect its value.
Additional Certification
1. The acceptance of this appraisal assignment by the appraiser was not based on a requested minimum valuation, a specified valuation, or an approval of the loan.
2. The appraiser certifies that the compensation for this appraisal is not contingent upon the reporting of a predetermined value or direction in value that favors the cause of the
client, the amount of the value estimate, the attainment of a stipulated result of the occurrence of a subsequent event.
3. This appraisal has been prepared to conform with the Uniform Standards of Professional Appraisal practice ("USPAP") adopted by the Appraisal Standards Board of the
Appraisal foundation, except the Departure Provision, unless otherwise stated below.
4. The appraiser has disclosed within this appraisal report, or below, all steps taken that were necessary or appropriate to comply with the Competency provision of the USPAP.
5.) I certify that to the best of my knowledge and belief, the reported analysis, opinions and conclusions that were developed in this
report have been prepared in conformity with the requirements of the Code of Professional Ethics and the Standards of Professional
Practice of the Appraisal Institute. 6.) I certify that the use of this report is subject to the requirements of the Appraisal Institute
relating to review by their duly authorized representatives. 7.) As of the date of this report, William D. Cobb has completed the
requirements of the continuing education program of the La. State Real Estate Commission. 8.) As of the date of this report, William
D. Cobb has completed the requirements of the continuing education program of the La. State Certified Appraiser's Law, and is
currently certified as Residential Real Estate Appraiser in the State of Louisiana.
Date: June 1, 2015
Appraiser(s):
William D. Cobb
Date:
Review Appraiser(s):
Form 953

PreListingSample
USPAP Compliance Addendum

Borrower/Client
File No.
Sample Client
Property Address 12345 Hickory Ridge Blvd

City
County
Baton Rouge
State
LA
Zip Code 70810
Lender/Client Sample Client
APPRAISAL AND REPORT IDENTIFICATION

This Appraisal Report is one of the following types:
Appraisal Report
This report was prepared in accordance with the requirements of the Appraisal Report option of USPAP Standards Rule 2-2(a).
Restricted Appraisal Report This report was prepared in accordance with the requirements of the Restricted Appraisal Report option of USPAP Standards Rule 2-2(b). The
intended user of this report is limited to the identified client. This is a Restricted Appraisal Report and the rationale for how the appraiser arrived
at the opinions and conclusions set forth in the report may not be understood properly without the additional information in the appraiser's workfile.
This is a normal Fannie Mae 2055. Per USPAP 2014, this is an "Appraisal Report" instead of a "Summary Appraisal Report".
ADDITIONAL CERTIFICATIONS
I certify that, to the best of my knowledge and belief:
The statements of fact contained in this report are true and correct.
The
report analyses, opinions, and conclusions are limited only by the reported assumptions and are my personal, impartial, and unbiased professional analyses,
opinions, and conclusions.
have no (or the specified) present or prospective interest in the property that is the subject of this report and no (or specified) personal interest with respect to the
parties involved.
have no bias with respect to the property that is the subject of this report or the parties involved with this assignment.
My
My
engagement in this assignment was not contingent upon developing or reporting predetermined results.
My
analyses, opinions, and conclusions were developed and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice.
compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause
of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of
this appraisal.
This
appraisal
report
was
prepared
in
accordance
with
the
requirements
of
Title
XI
of FIRREA
and
any
implementing
regulations.
PRIOR SERVICES
X I have NOT performed services, as an appraiser or in any other capacity, regarding the property that is the subject of the report within the three-year period
immediately preceding acceptance of this assignment.
I HAVE performed services, as an appraiser or in another capacity, regarding the property that is the subject of this report within the three-year period immediately
preceding acceptance of this assignment. Those services are described in the comments below.
PROPERTY INSPECTION
I have NOT made a personal inspection of the property that is the subject of this report.
X I HAVE made a personal inspection of the property that is the subject of this report.
APPRAISAL ASSISTANCE
Unless otherwise noted, no one provided significant real property appraisal assistance to the person signing this certification. If anyone did provide significant assistance, they
are hereby identified along with a summary of the extent of the assistance provided in the report.
No one else besides myself provided significant assistance in completion of this report.
ADDITIONAL COMMENTS
Additional USPAP related issues requiring disclosure and/or any state mandated requirements:2014-2015 uspap compliance certification: this appraiser did
not pay a fee to secure this appraisal assignment. This appraiser has not appraised the subject property within the previous 36
months. This Appraiser doesn't have any current or prospective interest in the subject property or parties involved. In compliance
with the ethics rule Of uspap, i hereby certify that this appraiser has no current or prospective interest in the subject property or
Parties involved, and has not performed any services regarding the subject property within the 3 year period Immediately preceding
acceptance of the assignment, as an appraiser or in any other capacity.
MARKETING TIME AND EXPOSURE TIME FOR THE SUBJECT PROPERTY

X A reasonable marketing time for the subject property is 90-180
X A reasonable exposure time for the subject property is 90-180
day(s) utilizing market conditions pertinent to the appraisal assignment.

day(s).
APPRAISER
SUPERVISORY APPRAISER (ONLY IF REQUIRED)
Signature
Signature
Name
Name
William D. Cobb
Date of Signature
June 1, 2015
State Certification # 851
State Certification #
or State License #
or State License #
State
Date of Signature
State
LA
Expiration Date of Certification or License
12/31/2015
Expiration Date of Certification or License

Supervisory Appraiser Inspection of Subject Property:
Effective Date of Appraisal
01/01/2015
Did Not
USPAP Compliance Addendum 2014
Exterior-only from Street
Interior and Exterior

Page
of
DEFINITION OF MARKET VALUE:
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; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms
of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the
normal consideration for the property sold unaffected by special or creative financing or sales concessions* granted
by anyone associated with the sale.
*Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments
are necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area;
these costs are readily identifiable since the seller pays these costs in virtually all sales transactions.
Special or
creative financing adjustments can be made to the comparable property by comparisons to financing terms offered
by a third party institutional lender that is not already involved in the property or transaction. Any adjustment
should not be calculated on a mechanical dollar for dollar cost of the financing or concessions but the dollar
amount of any adjustment should approximate the market's reaction to the financing or concessions based on the
appraiser's judgment.
STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION

CONTINGENT AND LIMITING CONDITIONS:
The appraiser's certification that appears in the appraisal report
is subject to the following conditions:

1.
The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised
or the title to it. The appraiser assumes that the title is good and marketable and, therefore, will not render any
opinions about the title. The property is appraised on the basis of it being under responsible ownership.
2.
The appraiser has provided a sketch in the appraisal report to show approximate dimensions of the improvements
and the sketch is included only to assist the reader of the report in visualizing the property and understanding the
appraiser's determination of its size.
3.
The appraiser has examined the available flood maps that are provided by the Federal Emergency Management
Agency (or other data sources) and has noted in the appraisal report whether the subject site is located in an
identified Special Flood Hazard Area.
Because the appraiser is not a surveyor, he or she makes no guarantees,
express or implied, regarding this determination.

4.
The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in
question, unless specific arrangements to do so have been made beforehand.

5.
The appraiser has estimated the value of the land in the cost approach at its highest and best use and the
improvements at their contributory value.
The separate valuations of the land and improvements must not be
used in conjunction with any other appraisal and are invalid if they are so used.
6.
The appraiser has noted in the appraisal report any adverse conditions (such as, needed repairs, depreciation, the
presence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that
he or she became aware of during the normal research involved in performing the appraisal. Unless otherwise stated
in the appraisal report, the appraiser has no knowledge of any hidden or unapparent conditions of the property or
adverse environmental conditions (including the presence of hazardous wastes, toxic substances, etc.) that would
make the property more or less valuable, and has assumed that there are no such conditions and makes no
guarantees or warranties, express or implied, regarding the condition of the property. The appraiser will not be
responsible for any such conditions that do exist or for any engineering or testing that might be required to discover
whether such conditions exist. Because the appraiser is not an expert in the field of environmental hazards, the
appraisal report must not be considered as an environmental assessment of the property.
7.
The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from
sources that he or she considers to be reliable and believes them to be true and correct. The appraiser does not
assume responsibility for the accuracy of such items that were furnished by other parties.
8.
The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform
Standards of Professional Appraisal Practice.

9.
The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to
satisfactory completion, repairs, or alterations on the assumption that completion of the improvements will be
performed in a workmanlike manner.
10.
The appraiser must provide his or her prior written consent before the lender/client specified in the appraisal
report can distribute the appraisal report (including conclusions about the property value, the appraiser's identity
and professional designations, and references to any professional appraisal organizations or the firm with which the
appraiser is associated) to anyone other than the borrower; the mortgagee or its successors and assigns; the mortgage
insurer; consultants; professional appraisal organizations; any state or federally approved financial institution; or any
department, agency, or instrumentality of the United States or any state or the District of Columbia; except that
the lender/client may distribute the property description section of the report only to data collection or reporting
service(s) without having to obtain the appraiser's prior written consent.
The appraiser's written consent and
approval must also be obtained before the appraisal can be conveyed by anyone to the public through advertising,
public relations, news, sales, or other media.
Freddie Mac Form 439 6-93
Page 1 of 2
Fannie Mae Form 1004B 6-93

PreListingSample
File No.
APPRAISER'S CERTIFICATION:
1.
The Appraiser certifies and agrees that:
I have researched the subject market area and have selected a minimum of three recent sales of properties most
similar and proximate to the subject property for consideration in the sales comparison analysis and have made a
dollar adjustment when appropriate to reflect the market reaction to those items of significant variation. If a
significant item in a comparable property is superior to, or more favorable than, the subject property, I have made
a negative adjustment to reduce the adjusted sales price of the comparable and, if a significant item in a comparable
property is inferior to, or less favorable than the subject property, I have made a positive adjustment to increase the
adjusted sales price of the comparable.
2.
I have taken into consideration the factors that have an impact on value in my development of the estimate of
market value in the appraisal report. I have not knowingly withheld any significant information from the appraisal
report and I believe, to the best of my knowledge, that all statements and information in the appraisal report are
true and correct.
3.
I stated in the appraisal report only my own personal, unbiased, and professional analysis, opinions, and
conclusions, which are subject only to the contingent and limiting conditions specified in this form.
4.
I have no present or prospective interest in the property that is the subject to this report, and I have no present
or prospective personal interest or bias with respect to the participants in the transaction. I did not base, either
partially or completely, my analysis and/or the estimate of market value in the appraisal report on the race, color,
religion, sex, handicap, familial status, or national origin of either the prospective owners or occupants of the subject
property or of the present owners or occupants of the properties in the vicinity of the subject property.
5.
I have no present or contemplated future interest in the subject property, and neither my current or future
employment nor my compensation for performing this appraisal is contingent on the appraised value of the property.
6.
I was not required to report a predetermined value or direction in value that favors the cause of the client or
any related party, the amount of the value estimate, the attainment of a specific result, or the occurrence of a
subsequent event in order to receive my compensation and/or employment for performing the appraisal. I did not
base the appraisal report on a requested minimum valuation, a specific valuation, or the need to approve a specific
mortgage loan.
7.
I performed this appraisal in conformity with the Uniform Standards of Professional Appraisal Practice that were
adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place as
of the effective date of this appraisal, with the exception of the departure provision of those Standards, which does
not apply.
I acknowledge that an estimate of a reasonable time for exposure in the open market is a condition in
the definition of market value and the estimate I developed is consistent with the marketing time noted in the
neighborhood section of this report, unless I have otherwise stated in the reconciliation section.
8.
I have personally inspected the interior and exterior areas of the subject property and the exterior of all properties
listed as comparables in the appraisal report. I further certify that I have noted any apparent or known adverse
conditions in the subject improvements, on the subject site, or on any site within the immediate vicinity of the
subject property of which I am aware and have made adjustments for these adverse conditions in my analysis of
the property value to the extent that I had market evidence to support them. I have also commented about the
effect of the adverse conditions on the marketability of the subject property.
9.
I personally prepared all conclusions and opinions about the real estate that were set forth in the appraisal report.
If I relied on significant professional assistance from any individual or individuals in the performance of the
appraisal or the preparation of the appraisal report, I have named such individual(s) and disclosed the specific tasks
performed by them in the reconciliation section of this appraisal report. I certify that any individual so named is
qualified to perform the tasks. I have not authorized anyone to make a change to any item in the report; therefore,
if an unauthorized change is made to the appraisal report, I will take no responsibility for it.
SUPERVISORY APPRAISER'S CERTIFICATION:
If a supervisory appraiser signed the appraisal report, he or she
certifies and agrees that: I directly supervise the appraiser who prepared the appraisal report, have reviewed the appraisal
report, agree with the statements and conclusions of the appraiser, agree to be bound by the appraiser's certifications
numbered 4 through 7 above, and am taking full responsibility for the appraisal and the appraisal report.
ADDRESS OF PROPERTY APPRAISED:
12345 Hickory Ridge Blvd, Baton Rouge, LA 70810
APPRAISER:
SUPERVISORY APPRAISER
Signature:
Signature:
Name:
Date Signed:
June 1, 2015
851
Date Signed:
or State License #:
or State License #:
State:
State:
LA
12/31/2015
Did
Freddie Mac Form 439 6-93
(only if required):
Page 2 of 2
Did Not Inspect Property
Fannie Mae Form 1004B 6-93

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Bill Cobb Pre-Listing Sample

SAMPLE PRE-LISTING APPRAISAL REPORT

SAMPLE PRE-LISTING APPRAISAL REPORT

SAMPLE PRE-LISTING APPRAISAL REPORT

Bill Cobb Pre-Listing Sample

PRE-LISTING APPRAISAL COMMENTARY

East Baton Rouge Parish

SUPERVISORY APPRAISER (ONLY IF REQUIRED):

Name: William D. Cobb

Expiration Date of Certification or License:

Expiration Date of Certification or License:

Accurate Valuations Group, LLC

Did Not Inspect Property

Bill Cobb Pre-Listing Sample

PRE-LISTING APPRAISAL COMMENTARY

East Baton Rouge Parish

RECOMMENDED LISTING PRICE RANGE IS: $115,000 to $125,000

INTENDED USE - PRE-LISTING:

HOME VALUE UNDERSTANDING:

HOW MANY DAYS WILL IT TAKE TO SELL THIS HOME?

WHAT IS IS COUNTED AS "LIVING AREA" ON THE SKETCH?

Accurate Valuations Group, LLC

COPPER MILL SUBDIVISION ZACHARY LA 70791 HOME SALES 2012-2015 YTD

Median Sales Price

Price Per Square Foot

Discount off List Price

SUMMARY OF SALIENT FEATURES

12345 Hickory Ridge Blvd

Lot 000, Oak Hills

East Baton Rouge Parish

Metro Key 682-E

Size (Square Feet)

Price per Square Foot

Date of Appraised Value

Final Estimate of Value

Flood Map No.

Accurate Valuations Group, LLC

SAMPLE PRE-LISTING APPRAISAL REPORT

Bill Cobb Pre-Listing Sample

City Baton Rouge

Single family housing Condominium housing

Legal nonconforming (Grandfathered use)

Assessment and tax records

(if applic.) (yrs)

X Interior and exterior inspection

Exterior inspection from street

If Yes, attach description.

Detatched Exterior Walls

Other use, attach description.

Illegal, attach description

subject property as improved (or as proposed per plans and specifications):

description A-1, Single Family Residential

If No, attach description.

If Yes, attach description.

*** See Additional Comments ***

If Yes, attach description.

*** See Additional Comments ***

sales ranging in sales price from $

My research revealed a total of 6

listings ranging in list price from $

12345 Hickory Ridge Blvd

Price/Gross Liv. Area

Actual Age (Yrs.)

+ (-) $ Adjustm ent

* See Additional Comments *

* See Additional Comments *