Affidavit of Appraiser
Affidavit of Appraiser
Form SCNLGL - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
FROM:
Robert Morra 624 Talcottville Road Vernon, CT 06066 860-875-6201
TO:
Attorney William R Broneill (Committee) 175 East Center Street Manchester, CT 06040
INVOICE NUMBERS Docket # Appraiser's File #
TTDCV-146007731-S 060414SZ
CASE REFERENCE Freedom Mortgage Corporation vs. Lashway, Jerry P Et Al
One exterior inspection single-family appraisal
300.00
300.00
TOTAL DUE
NOTES:
Form INV - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
300.00
APPRAISAL OF REAL PROPERTY By Appraisal Report
LOCATED AT 9 Meadowbrook Drive Stafford Springs, CT 06076 Volume 402 Page 581
FOR Tolland Judicial District Superior Court, 69 Brooklyn Street Rockville, CT 06066
OPINION OF VALUE $140,000.00
AS OF 06/04/2014
BY Scott Dolphin Morra Associates 624 Talcottville Road Vernon, CT 06066
Form GA6V_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Client Property Address City
Appraiser
Tolland Judicial District 9 Meadowbrook Dr Stafford Springs Scott Dolphin
File No. County Tolland
State CT
Zip Code 06076
TABLE OF CONTENTS
Affidavit of Appraiser ........................................................................................................................................................................................................................................................... 1 Cover Page ......................................................................................................................................................................................................................................................................... 2 Letter of Transmittal ............................................................................................................................................................................................................................................................ 3 GP Consumer Short Form .................................................................................................................................................................................................................................................... 4 Deed ................................................................................................................................................................................................................................................................................... 9 Deed ................................................................................................................................................................................................................................................................................... 10 Assessor's Data .................................................................................................................................................................................................................................................................. 11 Assessor's Data .................................................................................................................................................................................................................................................................. 12 Assessor's Plot Map ........................................................................................................................................................................................................................................................... 13 MLS Listing ........................................................................................................................................................................................................................................................................ 14 Subject Photos ................................................................................................................................................................................................................................................................... 15 Sale #1 Photos .................................................................................................................................................................................................................................................................. 16 Sale #2 Photos .................................................................................................................................................................................................................................................................. 17 Sale #3 Photos .................................................................................................................................................................................................................................................................. 18 Location Map ...................................................................................................................................................................................................................................................................... 19 GP Residential Certifications Addendum .............................................................................................................................................................................................................................. 20
Form TOCNP_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Morra Associates 624 Talcottville Road Vernon, CT 06066 (860) 875-6201
06/09/2014 Attorney William R Broneill (Committee) Superior Court 69 Brookly Street Rockville , CT 06066
Re: Property: Borrower: Docket No.:
9 Meadowbrook Drive Stafford Springs, CT 06076 Jerry P. Lashway Et Al TTDCV - 146007731-S
Opinion of Value: $ 140,000.00 Effective Date: 06/04/2014
In accordance with your request, we have appraised the above referenced property. The report of that appraisal is attached. The purpose of the appraisal is to develop an opinion of market value for the property described in this appraisal report, as improved, in unencumbered fee simple title of ownership. This report is based on a physical analysis of the site and improvements, a locational analysis of the neighborhood and city, and an economic analysis of the market for properties such as the subject. The appraisal was developed and the report was prepared in accordance with the Uniform Standards of Professional Appraisal Practice. The opinion of market value reported above is as of the stated effective date and is contingent upon the certification and limiting conditions attached. The appraisal indicated the market value to be $140,000.00 ONE HUNDRED FORTY THOUSAND DOLLARS I have determined a lot value of $40,0000.00 and a value for the improvements of $100,000.00
Sincerely,
Scott Dolphin Certified Residential Appraiser License or Certification #: RCR 1577 State: CT Expires: 4/30/2014
Connecticut Appraisal Service
Appraisal Report 9 Meadowbrook Drive Stafford Springs, CT 06076 Morra Associates 624 Talcottville Road Vernon, CT 06066 Appraised Value as of: $
PREPARED FOR
FEATURES
Style/Design:
06/04/2014
140,000.00
Lot Size:
.66 Acres
Living Area (Sq.Ft.): 1,176
Neighborhood:
Stafford Springs
Total Bedrooms:
3
Total Baths:
1.1
Year Built:
1995
Effective Age:
19
Condition:
Average
Date of Report:
06/09/2014
Cape
Client:
Tolland Judicial District
Address:
Superior Court, 69 Brooklyn Street
City:
Rockville
Phone:
860-896-4920
State: CT Fax:
Zip: 06066
860-875-0777
E-mail:
PREPARED BY
Name: Scott Dolphin
Designation: Certified Residential Appraiser Certification or License #: Expiration Date: 4/30/2014 Appraiser's Signature
FILING
RCR 1577
Client File #:
TTDCV - 146007731-S
ST: CT
E-mail:
Appraiser File #:
060414SZ
The value opinion expressed above is only valid in conjunction with the attached appraisal report. This value opinion may be subject to Hypothetical Conditions and/or Extraordinary Assumptions as indicated in the body of the report. A true and complete copy of this Summary Appraisal Report contains 22 pages.
Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.
Form GPCSF_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
10/2007
RESIDENTIAL APPRAISAL SUMMARY REPORT SUBJECT PROPERTY IDENTIFICATION Property Address: State:
City:
9 Meadowbrook Dr Zip Code:
CT
Legal Description of Real Property:
R.E. Taxes: $
Map 50 Lot 115.11
Special Assessments: $
Tenant
Project Type (if applicable):
Vacant
Occupancy is unknown to appraiser
Condominium
Home Owners' Association Membership Fees (if applicable):
Cooperative
$ 0.00
Single-Family Residential
per year
Map Reference:
Stafford Springs
2014
Jerry P Lashway
Current Occupant (if occupied):
Planned Unit Development
Tax Year:
3,763.33
Current Owner of Record:
.00
Owner
Market Area Name:
Stafford Springs
Tolland
Volume 402 Page 581
Tax Assessor's Parcel #:
Occupancy:
County:
06076
per month Census Tract:
25540
8902.01
ASSIGNMENT The purpose of this appraisal is to develop a Current opinion of Market Value (as defined elsewhere in this report). Property Rights Appraised: Intended Use:
Fee Simple
Leased Fee
Other (describe)
The intended use of this appraisal is for foreclosure proceedings
Intended User(s) (by name or type): Client:
Leasehold
Tolland Judicial District, Superior Court
Tolland Judicial District
Address:
Superior Court, 69 Brooklyn Street, Rockville, CT 06066
Scott Dolphin
Address:
624 Talcottville Road, Vernon, CT 06066
Appraiser:
MARKET AREA DESCRIPTION Location:
Urban
Suburban
Rural
Built Up :
Over 75%
25-75%
Under 25%
Growth Rate:
Rapid
Stable
Slow
Property Values:
Increasing
Stable
Declining
Demand/Supply:
Shortage
In Balance
Over Supply
Marketing Time:
Under 3 Mos.
3-6 Mos.
Over 6 Mos.
Typical One-Unit Housing Ranges: Present Land Use:
Price: ($)
Low
50+/-
High
300+
Predominant
150+/-
Age: (yrs.)
Low
5
High
200
Predominant
30-50
One-Unit:
Change in Land Use:
25 %
2-4 Unit:
Not Likely
Likely *
1%
Multi-Unit:
Is Changing *
1%
Comm'l:
5%
Undevloped
68 %
* To: Higher Density Single-Family
Market Area Comments:
The market area is located just east of downtown Stafford Springs along route 190. Current development is predominantly single-family residential use. It is likely the undeveloped areas will be further developed into residential use in the future. Current market conditions are stable.
SALE / TRANSFER / LISTING HISTORY OF SUBJECT PROPERTY My research:
Did
appraisal. Data Source(s):
Did not
reveal any prior sales or transfers of the subject property for the three years prior to the Effective Date of this
Town Records 1st Prior Sale / Transfer
Date of Prior Sale / Transfer:
10/02/2001
Price of Prior Sale / Transfer:
$122,000
Source(s) of Prior Sale / Transfer Data:
Volume 402 Page 581
2nd Prior Sale / Transfer
3nd Prior Sale / Transfer
Analysis of sale / transfer history, any current agreements of sale or listing, and listing history (if relevent):
The subject property was listed on the local MLS as listing #G684687 on 05/30/2014 for $169,900
Client:
Tolland Judicial District
Client File No.:
TTDCV - 146007731-S
Appraiser File No.:
060414SZ
Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.
Form GPCSF_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
10/2007
RESIDENTIAL APPRAISAL SUMMARY REPORT SITE DESCRIPTION Dimensions:
Site Area:
See assessor's plot map enclosed
Zoning Classification:
Zoning Description:
AA
Zoning Compliance:
Legal
Deed Restrictions:
0.66 Acres
Residential; 44,000 sf with 150' frontage
Legal Non-Conforming (Grandfathered)
Illegal
Are Covenants, Conditions, & Restrictions (CC&Rs) applicable?
Have the documents been reviewed?
Yes
No
N/A
No Zoning Regulations
Yes
No
Ground Rent (if applicable)
Unknown
$
/
Comments: Highest & Best Use , as improved, is the:
Characteristics:
Present use, or
Topography:
Level to sloping
Size:
Typical for the market
Shape:
Basically rectangular
Drainage:
Appears adequate
View:
Residential
Landscaping:
Average
Other features:
Inside Lot
Utilities:
Other use (explain)
Public
Corner Lot
Other
Cul de Sac
Underground Utilities
Provider/Description
Off-site Improvements:
Electricity: Gas: Water:
Type
Street:
Paved
Private Oil
Curb/Gutter:
Asphalt
Private Well
Sidewalk:
None
Alley:
None
Sanitary Sewer: Is the property or the improvements located in a FEMA Special Flood Hazard Area? FEMA Flood Zone:
FEMA Map #
C
Public
Yes
No
FEMA Map Date:
0901130001B
Private
6/1/1982
Site Comments:
The appraiser did not have access to the site.
DESCRIPTION OF THE IMPROVEMENTS General Description: Type:
# of Units:
Detached
Actual Age (years):
1
+ Accessory Unit
Attached
Status: Effective Age (years):
19
# of Stories:
Design (Style):
1.75 Existing
Year Built:
19
Cape
Proposed
Under Construction
1995
Exterior Description: Foundation:
Concrete
Roof Surface: Window Type(s):
Exterior Walls:
Vinyl
Asphalt Shingle
Gutters & Downspouts:
Aluminum
Wd/Vinyl
Storm / Screens:
Vinyl/Alum
Heating System:
HWBB
Car Storage:
None
Cooling System: Garage
Livable area above grade contains:
Carport
5 Rooms,
Driveway (Surface:
Individual )
Asphalt
3 Bedrooms,
1.1 Bath(s), and
Total # of Cars:
3+
1,176 Sq.Ft. of GLA
Describe Additional Features and Improvements:
This appraisal is an exterior only inspection of the subject from the street. Information pertaining to interior construction, room count, and living area size was obtained by third parties. The appraiser does not assume responsibility for the accuracy of information provided by others. This appraisal is made with the Extraordinary Assumption the interior is in average condition. The use of Extraordinary Assumptions may affect assignment results. The town and MLS sheet incorrectly show the subject as a 1.5 story cape when it appears to be a rear dormered, 1.75+/- story cape with more living area on the second floor than reported. Client:
Tolland Judicial District
Client File No.:
TTDCV - 146007731-S
Appraiser File No.:
060414SZ
Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.
Form GPCSF_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
10/2007
RESIDENTIAL APPRAISAL SUMMARY REPORT SALES COMPARISON APPROACH TO VALUE For the Sales Comparison Approach, the appraiser selects comparable sales that they consider the best matches to the subject in terms of physical characteristics, physical proximity, and time of sale. The appraiser then makes adjustments to the known sale price of each comparable sale to account for differences that are recognized by the market. For example, if the subject has a single bathroom but a comparable has 2, the comparable’s sale price would be reduced by the attributable value given to the extra bathroom based on the market’s reaction. Likewise, if a comparable sale has a smaller square footage than the subject, its sale price would be adjusted upward in the same manner. By weighting and reconciling these adjusted sales prices together, an opinion of value for the subject can be determined. FEATURE
SUBJECT
COMPARABLE SALE # 1
Address 9 Meadowbrook Dr
Stafford Springs, CT 06076 Proximity to Subject Sale Price
$
Sale Price / GLA
$
Sales or Financing
355 East St Stafford Springs, CT 06076
0.09 miles W
3.11 miles NE
2.71 miles NE
/Sq.Ft. $
ADJUSTMENT ITEMS
$
120,000
109.89 /Sq.Ft.
$
Town Records DESCRIPTION
DESCRIPTION
COMPARABLE SALE # 3
32 Dunay Rd Stafford Springs, CT 06076
$
Data Source(s)
COMPARABLE SALE # 2
45 East St Stafford Springs, CT 06076
+(–) $ Adjust.
Arm's Length Sale Arm's Length Sale
$
170,000
92.39 /Sq.Ft.
$
Town Records DESCRIPTION
+(–) $ Adjust.
Town Records DESCRIPTION
+(–) $ Adjust.
Arm's Length Sale
Arm's Length Sale
Concessions
None Disclosed
None Disclosed
None Disclosed
Date of Sale / Time
11/22/2013 - 63
11/14/2013
03/26/2013 - 164
Rights Appraised
Fee Simple
Fee Simple
Fee Simple
Fee Simple
Location
Suburban
Suburban
Suburban
Suburban
Site
.66 Acres
0.49 Acres
0.76 Acres
0.26 Acres
View
Residential
Residential
Residential
Residential
Design (Style)
Cape
Cape
Cape
Colonial
Quality of Construction Average
Average
Average
Average
Age
19
23
26
34
Condition
Average
Average
Average
Above Grade
Total Bdrms
Room Count
5
Gross Living Area
Baths
3 1.1 1,176 Sq.Ft.
Total Bdrms
5
Baths
Total Bdrms
3 1.1 1,092 Sq.Ft.
6 +3,000
Full
Full
None
One
Functional Utility
Average
Average
Heating / Cooling
HWBB/Indiv
ElectBB/Indiv
Energy Efficient Items
Therm Windows
Therm Windows
Garage / Carport
1 Car Under
None
+5,000 None
Porch / Patio / Deck
Deck
None
+3,000 Deck
Fireplaces Outbuildings Pools
None Small Shed
One
-3,000 One
Small Shed
Large Shed
None
None
None
8 -23,000
Full
$
136,000
-3,000 -12,500
Average HWBB/Indiv
Therm Windows
16,000
3 2.0 1,536 Sq.Ft.
None
+10,000 HWBB/Indiv
$
Baths
Full
Average
–
-25,000
Total Bdrms
-2,000 None
+
Net Adjustment (Total)
+5,000
Good Baths
3 1.1 1,840 Sq.Ft.
Basement Finished Rooms
177,000
115.23 /Sq.Ft.
Therm Windows 1 Car Attached Deck -3,000 None -3,000 None
0
None +
–
$
-29,000
$
141,000
+
–
$
-35,500
$
141,500
Adjusted Sale Price of Comparables Comments on the Sales Comparison Approach:
Because the subject is a small cape, there was only one similar sized cape sold in the past 12 months. Sale #2 is a larger sized cape, and sale #3 is one of the smaller sized colonials sold. No adjustments are made for age are made for sales #2 and #3 because they have had updating. Sale #3 was fully updated prior to the last sale.
Appraiser's Indicated Value by the Sales Comparison Approach: Client:
Tolland Judicial District
Client File No.:
TTDCV - 146007731-S
$
140,000 Appraiser File No.:
060414SZ
Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.
Form GPCSF_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
10/2007
RESIDENTIAL APPRAISAL SUMMARY REPORT RECONCILIATION Final Reconciliation of the Approaches to Value:
The Sales Comparison Approach to value is the only reliable indicator of value for the subject property. The Cost Approach to value is not developed because the appraiser did not have access to the property in order to inspect quality and conditons. The Income Approach is not developed because single-family homes are generally not rented in this market. This
appraisal
Condition
that
Hypothetical based
on
is
made
the
Condition the
''as is'';
improvements that
the
Extraordinary
subject
have repairs
been or
Assumption
to
alterations
that
completion
completed;
the
per
subject
have
been
following
plans to
the
and
specifications
following
completed;
condition
or
deficiency
on
repairs
subject
to
does
not
the
basis
of
or
alterations
on
the
following
required
require
alteration
a
Hypothetical
the
or
basis
of
a
inspection(s) repair:
This report is also subject to other Hypothetical Conditions or Extraordinary Assumptions as specified elsewhere in this report.
ATTACHMENTS A true and complete copy of this report contains report. This appraisal report may not be properly
22 pages, including all exhibits which are considered an integral part of the understood without reference to the information contained in the complete report.
Attached Exhibits:
Scope of Work
Limiting Conditions
Certifications
Cost Addendum
Photograph Addenda
Assessor's Data
Map Addendum
Income Addendum
Assessor's Plot Map
Deed
MLS Sheet
OPINION OF VALUE This Opinion of Value may be subject to other Hypothetical Conditions and / or Based on the degree of inspection of the subject property as indicated below; assignment; the attached Statement of Assumptions and Limiting Conditions; and Current Opinion of the Market Value (or value range), as defined elsewhere in this of this report is: $ , as of: 140,000.00 which is both the Inspection Date and the Effective Date of this appraisal.
Extraordinary Assumptions, if so indicated above. the defined Scope of Work for this appraisal the attached Appraiser’s Certifications, my (our) report, of the real property that is the subject , 06/04/2014
SIGNATURES APPRAISER
SUPERVISORY APPRAISER (if required) or CO-APPRAISER (if applicable)
Appraiser Name: Company:
Supervisory or Co-Appraiser Name:
Scott Dolphin
Company:
Morra Associates
Phone: (860) 875-6201
Fax:
Phone:
E-mail: Date of Report (Signature): License or Certification #:
Designation:
Date of Report (Signature):
06/09/2014 State: CT
RCR 1577
Inspection of Subject: Date of Inspection:
4/30/2014 Interior & Exterior Exterior Only
State:
Expiration Date of License or Certification:
None
Inspection of Subject:
Interior & Exterior
Exterior Only
None
Date of Inspection:
06/04/2014
Tolland Judicial District
License or Certification #:
Designation:
Certified Residential Appraiser
Expiration Date of License or Certification:
Client:
Fax:
E-mail:
Client File No.:
TTDCV - 146007731-S
Appraiser File No.:
060414SZ
Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.
Form GPCSF_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
10/2007
Deed
Form SCNLTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Deed
Form SCNLTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Assessor's Data
Form SCNLTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Assessor's Data
Form SCNLTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Assessor's Plot Map
Form SCNLTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
MLS Listing
Form SCNLTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Subject Photo Page Client Property Address City
Appraiser
Tolland Judicial District 9 Meadowbrook Dr Stafford Springs Scott Dolphin
County Tolland
State CT
Zip Code 06076
Subject Front 9 Meadowbrook Dr Sales Price Gross Living Area 1,176 Total Rooms 5 Total Bedrooms 3 Total Bathrooms 1.1 Location Suburban View Residential Site .66 Acres Quality Average Age 19
Subject Side
Subject Street
Form LPICPIX.DSS_LTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Sale #1 Photos - 45 East Street $120,000 Client Property Address City
Appraiser
Tolland Judicial District 9 Meadowbrook Dr Stafford Springs Scott Dolphin
County Tolland
State CT
Zip Code 06076
Exterior
Kitchen
Dining Area
Living Room
Bedroom
Bathroom
Form PIC6_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Sale #2 Photos - 32 Dunay Road $170,000 Client Property Address City
Appraiser
Tolland Judicial District 9 Meadowbrook Dr Stafford Springs Scott Dolphin
County Tolland
State CT
Exterior
Kitchen
Dining/Living Area
Den
Bedroom
Bathroom
Form PIC6_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Zip Code 06076
Sale #3 Photos - 355 East Street $177,000 Client Property Address City
Appraiser
Tolland Judicial District 9 Meadowbrook Dr Stafford Springs Scott Dolphin
County Tolland
State CT
Zip Code 06076
Exterior
Kitchen
Dining Area
Living Room
Bedroom
Bathroom
Form PIC6_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Location Map Client Property Address City
Appraiser
Tolland Judicial District 9 Meadowbrook Dr Stafford Springs Scott Dolphin
County Tolland
State CT
Form MAP_LT.LOC - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Zip Code 06076
Assumptions & Limiting Conditions Property Address: 9 Meadowbrook Dr Client: Tolland Judicial District Appraiser: Scott Dolphin
File No.: City: Stafford Springs State: CT Zip Code: 06076 Address: Superior Court, 69 Brooklyn Street, Rockville, CT 06066 Address: 624 Talcottville Road, Vernon, CT 06066
STATEMENT OF ASSUMPTIONS & LIMITING CONDITIONS - 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. - The appraiser may have provided a sketch in the appraisal report to show approximate dimensions of the improvements, and any such sketch is included only to assist the reader of the report in visualizing the property and understanding the appraiser's determination of its size. Unless otherwise indicated, a Land Survey was not performed. - If so indicated, 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. - 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. - If the cost approach is included in this appraisal, 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. These 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. Unless otherwise specifically indicated, the cost approach value is not an insurance value, and should not be used as such. - The appraiser has noted in the appraisal report any adverse conditions (including, but not limited to, 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, but not limited to, 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. - 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. - The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional Appraisal Practice, and any applicable federal, state or local laws. - If this appraisal is indicated as subject to satisfactory completion, repairs, or alterations, the appraiser has based his or her appraisal report and valuation conclusion on the assumption that completion of the improvements will be performed in a workmanlike manner. - An appraiser's client is the party (or parties) who engage an appraiser in a specific assignment. Any other party acquiring this report from the client does not become a party to the appraiser-client relationship. Any persons receiving this appraisal report because of disclosure requirements applicable to the appraiser's client do not become intended users of this report unless specifically identified by the client at the time of the assignment. - The appraiser's written consent and approval must be obtained before this appraisal report can be conveyed by anyone to the public, through advertising, public relations, news, sales, or by means of any other media, or by its inclusion in a private or public database. - An appraisal of real property is not a 'home inspection' and should not be construed as such. As part of the valuation process, the appraiser performs a non-invasive visual inventory that is not intended to reveal defects or detrimental conditions that are not readily apparent. The presence of such conditions or defects could adversely affect the appraiser's opinion of value. Clients with concerns about such potential negative factors are encouraged to engage the appropriate type of expert to investigate.
Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.
Form GPRES2AD_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
3/2007
Definitions, Scope of Work, Disclaimers Property Address: 9 Meadowbrook Dr Client: Tolland Judicial District Appraiser: Scott Dolphin
File No.: 060414SZ City: Stafford Springs State: CT Zip Code: 06076 Address: Superior Court, 69 Brooklyn Street, Rockville, CT 06066 Address: 624 Talcottville Road, Vernon, CT 06066
DEFINITION OF MARKET VALUE *: Market value means 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 and 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 acting in what they consider their own best interests; 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. * 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 5, 1990, and August 24, 1990, by the Federal Reserve System (FRS), National Credit Union Administration (NCUA), Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS), and the Office of Comptroller of the Currency (OCC). This definition is also referenced in regulations jointly published by the OCC, OTS, FRS, and FDIC on June 7, 1994, and in the Interagency Appraisal and Evaluation Guidelines, dated October 27, 1994. The Scope of Work is the type and extent of research and analyses performed in an appraisal assignment that is required to produce credible assignment results, given the nature of the appraisal problem, the specific requirements of the intended user(s) and the intended use of the appraisal report. Reliance upon this report, regardless of how acquired, by any party or for any use, other than those specified in this report by the Appraiser, is prohibited. The Opinion of Value that is the conclusion of this report is credible only within the context of the Scope of Work, Effective Date, the Date of Report, the Intended User(s), the Intended Use, the stated Assumptions and Limiting Conditions, any Hypothetical Conditions and/or Extraordinary Assumptions, and the Type of Value, as defined herein. The appraiser, appraisal firm, and related parties assume no obligation, liability, or accountability, and will not be responsible for any unauthorized use of this report or its conclusions. Additional Comments (Scope of Work, Extraordinary Assumptions, Hypothetical Conditions, Disclaimers, etc.): 1. The Scope of Work of this appraisal does not include an inspection of private wells or septic systems or researching historical permits pulled for work or repairs. This appraisal is made with the Extraordinary Assumption all private wells and septic systems associated with the subject property and/or comparable sales are in working order as intended by original design and current local agency standards and any work on the subject property requiring permitting was done in accordance with local regulations to include final inspections. 2. The appraiser is not recognized as a licensed home inspector. The appraiser did not have access to a home inspection for the subject property. The appraiser always recommends for a buyer to have a formal home inspection. The appraisal inspection is a visual inspection only in order to describe the overall condition of the improvements and general quality of construction materials used. This appraisal is made with the Extraordinary Assumption there are no structural or environmental conditions that can negatively affect value. The appraiser reserves the right to adjust for any negative issues that arise from a home inspection. 3. The use of extraordinary assumptions may affect the assignment results. 4. This appraiser has not provided any professional services on behalf of the subject property in 3 years. 5. If the subject was built prior to 1978 lead based paint may be present. 6. The use of this report by parties other than those identified in this report is not intended by the appraiser. 7. The intended use of this report is for the Superior Court only and no other. Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.
Form GPRES2AD_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
3/2007
Certifications Property Address: 9 Meadowbrook Dr Client: Tolland Judicial District Appraiser: Scott Dolphin
File No.: 060414SZ City: Stafford Springs State: CT Zip Code: 06076 Address: Superior Court, 69 Brooklyn Street, Rockville, CT 06066 Address: 624 Talcottville Road, Vernon, CT 06066
APPRAISER'S CERTIFICATION I certify that, to the best of my knowledge and belief: - The statements of fact contained in this report are true and correct. - The credibility of this report, for the stated use by the stated user(s), of the reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, impartial, and unbiased professional analyses, opinions, and conclusions. - I have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the parties involved. - I have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment. - My engagement in this assignment was not contingent upon developing or reporting predetermined results. - My 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. - My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice that were in effect at the time this report was prepared. - I did not base, either partially or completely, my analysis and/or the opinion of 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. - Unless otherwise indicated, I have made a personal inspection of the property that is the subject of this report. - Unless otherwise indicated, no one provided significant real property appraisal assistance to the person(s) signing this certification. Additional Certifications:
Client Contact: E-Mail:
Client Name: Tolland Judicial District Address: Superior Court, 69 Brooklyn Street, Rockville, CT 06066
SIGNATURES
APPRAISER
SUPERVISORY APPRAISER (if required) or CO-APPRAISER (if applicable)
Appraiser Name: Scott Dolphin Company: Morra Associates Phone: (860) 875-6201 Fax: E-Mail: Date Report Signed: 06/09/2014 License or Certification #: State: CT RCR 1577 Designation: Certified Residential Appraiser Expiration Date of License or Certification: 4/30/2014 Inspection of Subject: Interior & Exterior Exterior Only None Date of Inspection: 06/04/2014
Supervisory or Co-Appraiser Name: Company: Phone: Fax: E-Mail: Date Report Signed: License or Certification #: Designation: Expiration Date of License or Certification: Inspection of Subject: Interior & Exterior Date of Inspection:
State:
Exterior Only
None
Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.
Form GPRES2AD_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
3/2007
Form SCNLGL - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
FROM:
Robert Morra 624 Talcottville Road Vernon, CT 06066 860-875-6201
TO:
Attorney William R Broneill (Committee) 175 East Center Street Manchester, CT 06040
INVOICE NUMBERS Docket # Appraiser's File #
TTDCV-146007731-S 060414SZ
CASE REFERENCE Freedom Mortgage Corporation vs. Lashway, Jerry P Et Al
One exterior inspection single-family appraisal
300.00
300.00
TOTAL DUE
NOTES:
Form INV - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
300.00
APPRAISAL OF REAL PROPERTY By Appraisal Report
LOCATED AT 9 Meadowbrook Drive Stafford Springs, CT 06076 Volume 402 Page 581
FOR Tolland Judicial District Superior Court, 69 Brooklyn Street Rockville, CT 06066
OPINION OF VALUE $140,000.00
AS OF 06/04/2014
BY Scott Dolphin Morra Associates 624 Talcottville Road Vernon, CT 06066
Form GA6V_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Client Property Address City
Appraiser
Tolland Judicial District 9 Meadowbrook Dr Stafford Springs Scott Dolphin
File No. County Tolland
State CT
Zip Code 06076
TABLE OF CONTENTS
Affidavit of Appraiser ........................................................................................................................................................................................................................................................... 1 Cover Page ......................................................................................................................................................................................................................................................................... 2 Letter of Transmittal ............................................................................................................................................................................................................................................................ 3 GP Consumer Short Form .................................................................................................................................................................................................................................................... 4 Deed ................................................................................................................................................................................................................................................................................... 9 Deed ................................................................................................................................................................................................................................................................................... 10 Assessor's Data .................................................................................................................................................................................................................................................................. 11 Assessor's Data .................................................................................................................................................................................................................................................................. 12 Assessor's Plot Map ........................................................................................................................................................................................................................................................... 13 MLS Listing ........................................................................................................................................................................................................................................................................ 14 Subject Photos ................................................................................................................................................................................................................................................................... 15 Sale #1 Photos .................................................................................................................................................................................................................................................................. 16 Sale #2 Photos .................................................................................................................................................................................................................................................................. 17 Sale #3 Photos .................................................................................................................................................................................................................................................................. 18 Location Map ...................................................................................................................................................................................................................................................................... 19 GP Residential Certifications Addendum .............................................................................................................................................................................................................................. 20
Form TOCNP_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Morra Associates 624 Talcottville Road Vernon, CT 06066 (860) 875-6201
06/09/2014 Attorney William R Broneill (Committee) Superior Court 69 Brookly Street Rockville , CT 06066
Re: Property: Borrower: Docket No.:
9 Meadowbrook Drive Stafford Springs, CT 06076 Jerry P. Lashway Et Al TTDCV - 146007731-S
Opinion of Value: $ 140,000.00 Effective Date: 06/04/2014
In accordance with your request, we have appraised the above referenced property. The report of that appraisal is attached. The purpose of the appraisal is to develop an opinion of market value for the property described in this appraisal report, as improved, in unencumbered fee simple title of ownership. This report is based on a physical analysis of the site and improvements, a locational analysis of the neighborhood and city, and an economic analysis of the market for properties such as the subject. The appraisal was developed and the report was prepared in accordance with the Uniform Standards of Professional Appraisal Practice. The opinion of market value reported above is as of the stated effective date and is contingent upon the certification and limiting conditions attached. The appraisal indicated the market value to be $140,000.00 ONE HUNDRED FORTY THOUSAND DOLLARS I have determined a lot value of $40,0000.00 and a value for the improvements of $100,000.00
Sincerely,
Scott Dolphin Certified Residential Appraiser License or Certification #: RCR 1577 State: CT Expires: 4/30/2014
Connecticut Appraisal Service
Appraisal Report 9 Meadowbrook Drive Stafford Springs, CT 06076 Morra Associates 624 Talcottville Road Vernon, CT 06066 Appraised Value as of: $
PREPARED FOR
FEATURES
Style/Design:
06/04/2014
140,000.00
Lot Size:
.66 Acres
Living Area (Sq.Ft.): 1,176
Neighborhood:
Stafford Springs
Total Bedrooms:
3
Total Baths:
1.1
Year Built:
1995
Effective Age:
19
Condition:
Average
Date of Report:
06/09/2014
Cape
Client:
Tolland Judicial District
Address:
Superior Court, 69 Brooklyn Street
City:
Rockville
Phone:
860-896-4920
State: CT Fax:
Zip: 06066
860-875-0777
E-mail:
PREPARED BY
Name: Scott Dolphin
Designation: Certified Residential Appraiser Certification or License #: Expiration Date: 4/30/2014 Appraiser's Signature
FILING
RCR 1577
Client File #:
TTDCV - 146007731-S
ST: CT
E-mail:
Appraiser File #:
060414SZ
The value opinion expressed above is only valid in conjunction with the attached appraisal report. This value opinion may be subject to Hypothetical Conditions and/or Extraordinary Assumptions as indicated in the body of the report. A true and complete copy of this Summary Appraisal Report contains 22 pages.
Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.
Form GPCSF_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
10/2007
RESIDENTIAL APPRAISAL SUMMARY REPORT SUBJECT PROPERTY IDENTIFICATION Property Address: State:
City:
9 Meadowbrook Dr Zip Code:
CT
Legal Description of Real Property:
R.E. Taxes: $
Map 50 Lot 115.11
Special Assessments: $
Tenant
Project Type (if applicable):
Vacant
Occupancy is unknown to appraiser
Condominium
Home Owners' Association Membership Fees (if applicable):
Cooperative
$ 0.00
Single-Family Residential
per year
Map Reference:
Stafford Springs
2014
Jerry P Lashway
Current Occupant (if occupied):
Planned Unit Development
Tax Year:
3,763.33
Current Owner of Record:
.00
Owner
Market Area Name:
Stafford Springs
Tolland
Volume 402 Page 581
Tax Assessor's Parcel #:
Occupancy:
County:
06076
per month Census Tract:
25540
8902.01
ASSIGNMENT The purpose of this appraisal is to develop a Current opinion of Market Value (as defined elsewhere in this report). Property Rights Appraised: Intended Use:
Fee Simple
Leased Fee
Other (describe)
The intended use of this appraisal is for foreclosure proceedings
Intended User(s) (by name or type): Client:
Leasehold
Tolland Judicial District, Superior Court
Tolland Judicial District
Address:
Superior Court, 69 Brooklyn Street, Rockville, CT 06066
Scott Dolphin
Address:
624 Talcottville Road, Vernon, CT 06066
Appraiser:
MARKET AREA DESCRIPTION Location:
Urban
Suburban
Rural
Built Up :
Over 75%
25-75%
Under 25%
Growth Rate:
Rapid
Stable
Slow
Property Values:
Increasing
Stable
Declining
Demand/Supply:
Shortage
In Balance
Over Supply
Marketing Time:
Under 3 Mos.
3-6 Mos.
Over 6 Mos.
Typical One-Unit Housing Ranges: Present Land Use:
Price: ($)
Low
50+/-
High
300+
Predominant
150+/-
Age: (yrs.)
Low
5
High
200
Predominant
30-50
One-Unit:
Change in Land Use:
25 %
2-4 Unit:
Not Likely
Likely *
1%
Multi-Unit:
Is Changing *
1%
Comm'l:
5%
Undevloped
68 %
* To: Higher Density Single-Family
Market Area Comments:
The market area is located just east of downtown Stafford Springs along route 190. Current development is predominantly single-family residential use. It is likely the undeveloped areas will be further developed into residential use in the future. Current market conditions are stable.
SALE / TRANSFER / LISTING HISTORY OF SUBJECT PROPERTY My research:
Did
appraisal. Data Source(s):
Did not
reveal any prior sales or transfers of the subject property for the three years prior to the Effective Date of this
Town Records 1st Prior Sale / Transfer
Date of Prior Sale / Transfer:
10/02/2001
Price of Prior Sale / Transfer:
$122,000
Source(s) of Prior Sale / Transfer Data:
Volume 402 Page 581
2nd Prior Sale / Transfer
3nd Prior Sale / Transfer
Analysis of sale / transfer history, any current agreements of sale or listing, and listing history (if relevent):
The subject property was listed on the local MLS as listing #G684687 on 05/30/2014 for $169,900
Client:
Tolland Judicial District
Client File No.:
TTDCV - 146007731-S
Appraiser File No.:
060414SZ
Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.
Form GPCSF_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
10/2007
RESIDENTIAL APPRAISAL SUMMARY REPORT SITE DESCRIPTION Dimensions:
Site Area:
See assessor's plot map enclosed
Zoning Classification:
Zoning Description:
AA
Zoning Compliance:
Legal
Deed Restrictions:
0.66 Acres
Residential; 44,000 sf with 150' frontage
Legal Non-Conforming (Grandfathered)
Illegal
Are Covenants, Conditions, & Restrictions (CC&Rs) applicable?
Have the documents been reviewed?
Yes
No
N/A
No Zoning Regulations
Yes
No
Ground Rent (if applicable)
Unknown
$
/
Comments: Highest & Best Use , as improved, is the:
Characteristics:
Present use, or
Topography:
Level to sloping
Size:
Typical for the market
Shape:
Basically rectangular
Drainage:
Appears adequate
View:
Residential
Landscaping:
Average
Other features:
Inside Lot
Utilities:
Other use (explain)
Public
Corner Lot
Other
Cul de Sac
Underground Utilities
Provider/Description
Off-site Improvements:
Electricity: Gas: Water:
Type
Street:
Paved
Private Oil
Curb/Gutter:
Asphalt
Private Well
Sidewalk:
None
Alley:
None
Sanitary Sewer: Is the property or the improvements located in a FEMA Special Flood Hazard Area? FEMA Flood Zone:
FEMA Map #
C
Public
Yes
No
FEMA Map Date:
0901130001B
Private
6/1/1982
Site Comments:
The appraiser did not have access to the site.
DESCRIPTION OF THE IMPROVEMENTS General Description: Type:
# of Units:
Detached
Actual Age (years):
1
+ Accessory Unit
Attached
Status: Effective Age (years):
19
# of Stories:
Design (Style):
1.75 Existing
Year Built:
19
Cape
Proposed
Under Construction
1995
Exterior Description: Foundation:
Concrete
Roof Surface: Window Type(s):
Exterior Walls:
Vinyl
Asphalt Shingle
Gutters & Downspouts:
Aluminum
Wd/Vinyl
Storm / Screens:
Vinyl/Alum
Heating System:
HWBB
Car Storage:
None
Cooling System: Garage
Livable area above grade contains:
Carport
5 Rooms,
Driveway (Surface:
Individual )
Asphalt
3 Bedrooms,
1.1 Bath(s), and
Total # of Cars:
3+
1,176 Sq.Ft. of GLA
Describe Additional Features and Improvements:
This appraisal is an exterior only inspection of the subject from the street. Information pertaining to interior construction, room count, and living area size was obtained by third parties. The appraiser does not assume responsibility for the accuracy of information provided by others. This appraisal is made with the Extraordinary Assumption the interior is in average condition. The use of Extraordinary Assumptions may affect assignment results. The town and MLS sheet incorrectly show the subject as a 1.5 story cape when it appears to be a rear dormered, 1.75+/- story cape with more living area on the second floor than reported. Client:
Tolland Judicial District
Client File No.:
TTDCV - 146007731-S
Appraiser File No.:
060414SZ
Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.
Form GPCSF_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
10/2007
RESIDENTIAL APPRAISAL SUMMARY REPORT SALES COMPARISON APPROACH TO VALUE For the Sales Comparison Approach, the appraiser selects comparable sales that they consider the best matches to the subject in terms of physical characteristics, physical proximity, and time of sale. The appraiser then makes adjustments to the known sale price of each comparable sale to account for differences that are recognized by the market. For example, if the subject has a single bathroom but a comparable has 2, the comparable’s sale price would be reduced by the attributable value given to the extra bathroom based on the market’s reaction. Likewise, if a comparable sale has a smaller square footage than the subject, its sale price would be adjusted upward in the same manner. By weighting and reconciling these adjusted sales prices together, an opinion of value for the subject can be determined. FEATURE
SUBJECT
COMPARABLE SALE # 1
Address 9 Meadowbrook Dr
Stafford Springs, CT 06076 Proximity to Subject Sale Price
$
Sale Price / GLA
$
Sales or Financing
355 East St Stafford Springs, CT 06076
0.09 miles W
3.11 miles NE
2.71 miles NE
/Sq.Ft. $
ADJUSTMENT ITEMS
$
120,000
109.89 /Sq.Ft.
$
Town Records DESCRIPTION
DESCRIPTION
COMPARABLE SALE # 3
32 Dunay Rd Stafford Springs, CT 06076
$
Data Source(s)
COMPARABLE SALE # 2
45 East St Stafford Springs, CT 06076
+(–) $ Adjust.
Arm's Length Sale Arm's Length Sale
$
170,000
92.39 /Sq.Ft.
$
Town Records DESCRIPTION
+(–) $ Adjust.
Town Records DESCRIPTION
+(–) $ Adjust.
Arm's Length Sale
Arm's Length Sale
Concessions
None Disclosed
None Disclosed
None Disclosed
Date of Sale / Time
11/22/2013 - 63
11/14/2013
03/26/2013 - 164
Rights Appraised
Fee Simple
Fee Simple
Fee Simple
Fee Simple
Location
Suburban
Suburban
Suburban
Suburban
Site
.66 Acres
0.49 Acres
0.76 Acres
0.26 Acres
View
Residential
Residential
Residential
Residential
Design (Style)
Cape
Cape
Cape
Colonial
Quality of Construction Average
Average
Average
Average
Age
19
23
26
34
Condition
Average
Average
Average
Above Grade
Total Bdrms
Room Count
5
Gross Living Area
Baths
3 1.1 1,176 Sq.Ft.
Total Bdrms
5
Baths
Total Bdrms
3 1.1 1,092 Sq.Ft.
6 +3,000
Full
Full
None
One
Functional Utility
Average
Average
Heating / Cooling
HWBB/Indiv
ElectBB/Indiv
Energy Efficient Items
Therm Windows
Therm Windows
Garage / Carport
1 Car Under
None
+5,000 None
Porch / Patio / Deck
Deck
None
+3,000 Deck
Fireplaces Outbuildings Pools
None Small Shed
One
-3,000 One
Small Shed
Large Shed
None
None
None
8 -23,000
Full
$
136,000
-3,000 -12,500
Average HWBB/Indiv
Therm Windows
16,000
3 2.0 1,536 Sq.Ft.
None
+10,000 HWBB/Indiv
$
Baths
Full
Average
–
-25,000
Total Bdrms
-2,000 None
+
Net Adjustment (Total)
+5,000
Good Baths
3 1.1 1,840 Sq.Ft.
Basement Finished Rooms
177,000
115.23 /Sq.Ft.
Therm Windows 1 Car Attached Deck -3,000 None -3,000 None
0
None +
–
$
-29,000
$
141,000
+
–
$
-35,500
$
141,500
Adjusted Sale Price of Comparables Comments on the Sales Comparison Approach:
Because the subject is a small cape, there was only one similar sized cape sold in the past 12 months. Sale #2 is a larger sized cape, and sale #3 is one of the smaller sized colonials sold. No adjustments are made for age are made for sales #2 and #3 because they have had updating. Sale #3 was fully updated prior to the last sale.
Appraiser's Indicated Value by the Sales Comparison Approach: Client:
Tolland Judicial District
Client File No.:
TTDCV - 146007731-S
$
140,000 Appraiser File No.:
060414SZ
Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.
Form GPCSF_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
10/2007
RESIDENTIAL APPRAISAL SUMMARY REPORT RECONCILIATION Final Reconciliation of the Approaches to Value:
The Sales Comparison Approach to value is the only reliable indicator of value for the subject property. The Cost Approach to value is not developed because the appraiser did not have access to the property in order to inspect quality and conditons. The Income Approach is not developed because single-family homes are generally not rented in this market. This
appraisal
Condition
that
Hypothetical based
on
is
made
the
Condition the
''as is'';
improvements that
the
Extraordinary
subject
have repairs
been or
Assumption
to
alterations
that
completion
completed;
the
per
subject
have
been
following
plans to
the
and
specifications
following
completed;
condition
or
deficiency
on
repairs
subject
to
does
not
the
basis
of
or
alterations
on
the
following
required
require
alteration
a
Hypothetical
the
or
basis
of
a
inspection(s) repair:
This report is also subject to other Hypothetical Conditions or Extraordinary Assumptions as specified elsewhere in this report.
ATTACHMENTS A true and complete copy of this report contains report. This appraisal report may not be properly
22 pages, including all exhibits which are considered an integral part of the understood without reference to the information contained in the complete report.
Attached Exhibits:
Scope of Work
Limiting Conditions
Certifications
Cost Addendum
Photograph Addenda
Assessor's Data
Map Addendum
Income Addendum
Assessor's Plot Map
Deed
MLS Sheet
OPINION OF VALUE This Opinion of Value may be subject to other Hypothetical Conditions and / or Based on the degree of inspection of the subject property as indicated below; assignment; the attached Statement of Assumptions and Limiting Conditions; and Current Opinion of the Market Value (or value range), as defined elsewhere in this of this report is: $ , as of: 140,000.00 which is both the Inspection Date and the Effective Date of this appraisal.
Extraordinary Assumptions, if so indicated above. the defined Scope of Work for this appraisal the attached Appraiser’s Certifications, my (our) report, of the real property that is the subject , 06/04/2014
SIGNATURES APPRAISER
SUPERVISORY APPRAISER (if required) or CO-APPRAISER (if applicable)
Appraiser Name: Company:
Supervisory or Co-Appraiser Name:
Scott Dolphin
Company:
Morra Associates
Phone: (860) 875-6201
Fax:
Phone:
E-mail: Date of Report (Signature): License or Certification #:
Designation:
Date of Report (Signature):
06/09/2014 State: CT
RCR 1577
Inspection of Subject: Date of Inspection:
4/30/2014 Interior & Exterior Exterior Only
State:
Expiration Date of License or Certification:
None
Inspection of Subject:
Interior & Exterior
Exterior Only
None
Date of Inspection:
06/04/2014
Tolland Judicial District
License or Certification #:
Designation:
Certified Residential Appraiser
Expiration Date of License or Certification:
Client:
Fax:
E-mail:
Client File No.:
TTDCV - 146007731-S
Appraiser File No.:
060414SZ
Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.
Form GPCSF_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
10/2007
Deed
Form SCNLTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Deed
Form SCNLTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Assessor's Data
Form SCNLTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Assessor's Data
Form SCNLTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Assessor's Plot Map
Form SCNLTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
MLS Listing
Form SCNLTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Subject Photo Page Client Property Address City
Appraiser
Tolland Judicial District 9 Meadowbrook Dr Stafford Springs Scott Dolphin
County Tolland
State CT
Zip Code 06076
Subject Front 9 Meadowbrook Dr Sales Price Gross Living Area 1,176 Total Rooms 5 Total Bedrooms 3 Total Bathrooms 1.1 Location Suburban View Residential Site .66 Acres Quality Average Age 19
Subject Side
Subject Street
Form LPICPIX.DSS_LTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Sale #1 Photos - 45 East Street $120,000 Client Property Address City
Appraiser
Tolland Judicial District 9 Meadowbrook Dr Stafford Springs Scott Dolphin
County Tolland
State CT
Zip Code 06076
Exterior
Kitchen
Dining Area
Living Room
Bedroom
Bathroom
Form PIC6_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Sale #2 Photos - 32 Dunay Road $170,000 Client Property Address City
Appraiser
Tolland Judicial District 9 Meadowbrook Dr Stafford Springs Scott Dolphin
County Tolland
State CT
Exterior
Kitchen
Dining/Living Area
Den
Bedroom
Bathroom
Form PIC6_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Zip Code 06076
Sale #3 Photos - 355 East Street $177,000 Client Property Address City
Appraiser
Tolland Judicial District 9 Meadowbrook Dr Stafford Springs Scott Dolphin
County Tolland
State CT
Zip Code 06076
Exterior
Kitchen
Dining Area
Living Room
Bedroom
Bathroom
Form PIC6_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Location Map Client Property Address City
Appraiser
Tolland Judicial District 9 Meadowbrook Dr Stafford Springs Scott Dolphin
County Tolland
State CT
Form MAP_LT.LOC - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Zip Code 06076
Assumptions & Limiting Conditions Property Address: 9 Meadowbrook Dr Client: Tolland Judicial District Appraiser: Scott Dolphin
File No.: City: Stafford Springs State: CT Zip Code: 06076 Address: Superior Court, 69 Brooklyn Street, Rockville, CT 06066 Address: 624 Talcottville Road, Vernon, CT 06066
STATEMENT OF ASSUMPTIONS & LIMITING CONDITIONS - 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. - The appraiser may have provided a sketch in the appraisal report to show approximate dimensions of the improvements, and any such sketch is included only to assist the reader of the report in visualizing the property and understanding the appraiser's determination of its size. Unless otherwise indicated, a Land Survey was not performed. - If so indicated, 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. - 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. - If the cost approach is included in this appraisal, 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. These 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. Unless otherwise specifically indicated, the cost approach value is not an insurance value, and should not be used as such. - The appraiser has noted in the appraisal report any adverse conditions (including, but not limited to, 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, but not limited to, 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. - 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. - The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional Appraisal Practice, and any applicable federal, state or local laws. - If this appraisal is indicated as subject to satisfactory completion, repairs, or alterations, the appraiser has based his or her appraisal report and valuation conclusion on the assumption that completion of the improvements will be performed in a workmanlike manner. - An appraiser's client is the party (or parties) who engage an appraiser in a specific assignment. Any other party acquiring this report from the client does not become a party to the appraiser-client relationship. Any persons receiving this appraisal report because of disclosure requirements applicable to the appraiser's client do not become intended users of this report unless specifically identified by the client at the time of the assignment. - The appraiser's written consent and approval must be obtained before this appraisal report can be conveyed by anyone to the public, through advertising, public relations, news, sales, or by means of any other media, or by its inclusion in a private or public database. - An appraisal of real property is not a 'home inspection' and should not be construed as such. As part of the valuation process, the appraiser performs a non-invasive visual inventory that is not intended to reveal defects or detrimental conditions that are not readily apparent. The presence of such conditions or defects could adversely affect the appraiser's opinion of value. Clients with concerns about such potential negative factors are encouraged to engage the appropriate type of expert to investigate.
Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.
Form GPRES2AD_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
3/2007
Definitions, Scope of Work, Disclaimers Property Address: 9 Meadowbrook Dr Client: Tolland Judicial District Appraiser: Scott Dolphin
File No.: 060414SZ City: Stafford Springs State: CT Zip Code: 06076 Address: Superior Court, 69 Brooklyn Street, Rockville, CT 06066 Address: 624 Talcottville Road, Vernon, CT 06066
DEFINITION OF MARKET VALUE *: Market value means 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 and 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 acting in what they consider their own best interests; 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. * 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 5, 1990, and August 24, 1990, by the Federal Reserve System (FRS), National Credit Union Administration (NCUA), Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS), and the Office of Comptroller of the Currency (OCC). This definition is also referenced in regulations jointly published by the OCC, OTS, FRS, and FDIC on June 7, 1994, and in the Interagency Appraisal and Evaluation Guidelines, dated October 27, 1994. The Scope of Work is the type and extent of research and analyses performed in an appraisal assignment that is required to produce credible assignment results, given the nature of the appraisal problem, the specific requirements of the intended user(s) and the intended use of the appraisal report. Reliance upon this report, regardless of how acquired, by any party or for any use, other than those specified in this report by the Appraiser, is prohibited. The Opinion of Value that is the conclusion of this report is credible only within the context of the Scope of Work, Effective Date, the Date of Report, the Intended User(s), the Intended Use, the stated Assumptions and Limiting Conditions, any Hypothetical Conditions and/or Extraordinary Assumptions, and the Type of Value, as defined herein. The appraiser, appraisal firm, and related parties assume no obligation, liability, or accountability, and will not be responsible for any unauthorized use of this report or its conclusions. Additional Comments (Scope of Work, Extraordinary Assumptions, Hypothetical Conditions, Disclaimers, etc.): 1. The Scope of Work of this appraisal does not include an inspection of private wells or septic systems or researching historical permits pulled for work or repairs. This appraisal is made with the Extraordinary Assumption all private wells and septic systems associated with the subject property and/or comparable sales are in working order as intended by original design and current local agency standards and any work on the subject property requiring permitting was done in accordance with local regulations to include final inspections. 2. The appraiser is not recognized as a licensed home inspector. The appraiser did not have access to a home inspection for the subject property. The appraiser always recommends for a buyer to have a formal home inspection. The appraisal inspection is a visual inspection only in order to describe the overall condition of the improvements and general quality of construction materials used. This appraisal is made with the Extraordinary Assumption there are no structural or environmental conditions that can negatively affect value. The appraiser reserves the right to adjust for any negative issues that arise from a home inspection. 3. The use of extraordinary assumptions may affect the assignment results. 4. This appraiser has not provided any professional services on behalf of the subject property in 3 years. 5. If the subject was built prior to 1978 lead based paint may be present. 6. The use of this report by parties other than those identified in this report is not intended by the appraiser. 7. The intended use of this report is for the Superior Court only and no other. Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.
Form GPRES2AD_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
3/2007
Certifications Property Address: 9 Meadowbrook Dr Client: Tolland Judicial District Appraiser: Scott Dolphin
File No.: 060414SZ City: Stafford Springs State: CT Zip Code: 06076 Address: Superior Court, 69 Brooklyn Street, Rockville, CT 06066 Address: 624 Talcottville Road, Vernon, CT 06066
APPRAISER'S CERTIFICATION I certify that, to the best of my knowledge and belief: - The statements of fact contained in this report are true and correct. - The credibility of this report, for the stated use by the stated user(s), of the reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, impartial, and unbiased professional analyses, opinions, and conclusions. - I have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the parties involved. - I have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment. - My engagement in this assignment was not contingent upon developing or reporting predetermined results. - My 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. - My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice that were in effect at the time this report was prepared. - I did not base, either partially or completely, my analysis and/or the opinion of 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. - Unless otherwise indicated, I have made a personal inspection of the property that is the subject of this report. - Unless otherwise indicated, no one provided significant real property appraisal assistance to the person(s) signing this certification. Additional Certifications:
Client Contact: E-Mail:
Client Name: Tolland Judicial District Address: Superior Court, 69 Brooklyn Street, Rockville, CT 06066
SIGNATURES
APPRAISER
SUPERVISORY APPRAISER (if required) or CO-APPRAISER (if applicable)
Appraiser Name: Scott Dolphin Company: Morra Associates Phone: (860) 875-6201 Fax: E-Mail: Date Report Signed: 06/09/2014 License or Certification #: State: CT RCR 1577 Designation: Certified Residential Appraiser Expiration Date of License or Certification: 4/30/2014 Inspection of Subject: Interior & Exterior Exterior Only None Date of Inspection: 06/04/2014
Supervisory or Co-Appraiser Name: Company: Phone: Fax: E-Mail: Date Report Signed: License or Certification #: Designation: Expiration Date of License or Certification: Inspection of Subject: Interior & Exterior Date of Inspection:
State:
Exterior Only
None
Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.
Form GPRES2AD_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
3/2007
