HomeMy WebLinkAboutFIRST CHOICE MORTAGE INC
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emSEN!' AND SUBORDINATION" AGREEMENl'
'Ibis agreement, make this 15th day of September, 2005: between Augusta,
Georgis by and through the HOUsing and Econanic Deve1opne:nt DeparbIB1t
at 925 Laney Walker Blvd., 2nd Floor, Augusta, Ga 30901 (hereinafter
referred to as the Party of the First Part) and FIRST CHOICE MJRlGAGE, INC.
with offices located at 217 Davis Road, Augusta, Ga 30907 (hereinafter
referred to as the Party of the Second Part) .
WHEREAS, the Party of the First Part is the holder of a certain Security
Deed made by Carolyn G. Hatcher dated 11/15/02 and recorded 12/23/02
in the Richmond County Superior Clerk's Office in Deed Book 00828, at page 1841.
The aforementioned Security Deed encumbers property commonly known as
3820 Winchester Court, Augusta, Ga 30906 described as follows:
AlL THAT I.DT OR PARCEL OF lAND, together with all buildings and
improvements thereon, situate, lying and being in the State of Georgia,
County of Richmond, being known as designated as Lot 31, Block "c"
Section 15, Phase Two, of Pepperidge Subdivision, as shown on a plat
by Ayercorp, dated 10/20/02, which is being recorded in the Office
of the Clerk of Superior Court of Richmond County, Georgia
contemporaneously herewith. Reference if hereby made to said plat for
a more complete and accurate description as to metes,bounds and
location of said property.
This conveyance is made subject to any and all restrictions and easements.
WHEREAS, the Party of the Second Part has issued a Mortgage commitment to
Carolyn G. Hatcher, which mortgage, when issued is to be a valid first
lien on the above described real property.
WHEREAS, the Party of the Second Part will not make the above Mortgage
loan to the owners of the property unless the mortgage held by the Party
of the First Part is subordinated to said new mortgage.
New, THEREFDRE, the Party of the First Park, for valuable consideration
to it paid, receipt of which is bereby acknowledged, does hereby postpone
the lien of the Security Deed it owns and holds as referenced above and
hereby makes it junior, second and subordinate in each and every respect
to the lien of the mortgage to be given by First Choice Mortgage, Inc.
to Carolyn G. Hatcher, Party of the Second Part, in the principal sum of
$1,198.50.
This Subordination Agreement shall apply to any extension, renewal or
modification of the mortgage given to the Party of the Second Part and shall
further apply to any interest, advances or expenses which may be secured under
this mortgage.
IN vITTNESS WHEREOF, the Party of the First Part has caused its corporate
seal to be herunto affixed and these presentrs to be signed byits duly
authorized officer, this I ~ day of~~, 2005. .
For Augusta Georgia
~
.,
(Seal)
~ william H.
(Seal )
Attest
State of Georgia
County of Richmond ) Ss:
On the ,tJ day of Ift..UIIAIJIJ'12005 before me, the undersigned, a
NOtary~ and t~te, personally appeaared, William H. Mayes,
Interiill Mayor, personally known to me or proved to me on the basis of
satisfactory evidence to be the individual whose name is subscribed to
the vn:thin instrument and acknowledged to me that she/he executed the
same in hisjher capacities, and that by his signature(s) on the instrument
the individual, or . the . person upon behalf of which the individual acted,
executed the instrument.
~!!!~,. ,,,,ood CountV. ~~"'!11!1
~..l t,\(1)\ary PUIJh;-, ~."I~.' ~,,,)"'ro', D3C. 3, ~OO{
~'}~':j CQrni1~t~~3'OI ~ ~..'"~ h oJ"'"
My comnussion EXpires:
First Choice Mortgage, Inc.
217 Davis Road. Augusta, Georgia 30907
Office ('706) 855-1599 + Toll Free (800) 677-1634 . Fax (706) 855-1541
We are requesting that the Housing and Economic Development Depm1ment of Richmond County, Georgia
subordinate their existing 2nd mortgage on property located at 3820 Winchester Court, Augusta, Georgia
30906, described as Lot 31, Block C, Pepperidge SID, Richmond County, Ga. 30906 in the name of Carolyn
G Hatcher. Ms. Hatcher presently has a FHA loan that was closed on a FHA adjustable rate mortgage.. Her
rate has gone up and down, and with interest rates where they presently stant, the rate can continue to change
yearly, with the next effective change in Febmary, 2006. We are attempting to refinace her loan at we hoped
a 5.5% to 5.75% interest rate, on a fixed rate loan. (Time is our enemy as interest rates can certainly
change). Ms. Hatcher is not a wealthy person and works velY hard at 2 jobs in order to pay her bills in a
timely manner. There is much stress on her not knowing what will happen with the next payment change.
Also, due to the fact that she bought a new house, and her taxes have tremendously changed and her escrow
account was insufficient, the lender has double her escrow to take care of the deficiency and anticipating the
future. Finally, on an FHA streamline loan, which is what we are proposing to do, Ms. Hatcher is not
allowed to .get any money over $100.00 back. That limit is used since nothing can be figured to the penny
uotil the loan actually goes to closing. We will be placing this loan with our best investor. Ms. Hatcher has
never been late on her loan. We are estimating her new payment at $616.73 including taxes and insurance and
mortgage insurance to the Federal government. Her taxes will be paid for last year, as bills are now out and
her insurance will of course be inforce for a year. Her payments will not adjust anymore, her taxes have all
been straightened out, and her insurance and escrow accout are fully ClUTent. This new loan has been fully
explained to her and she certainly wants to proceed as soon as possible.
We appreciate your help on this matter, as time is of the most concern for us and Ms. Hatcher.
Sincerely, ~
-)
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i? ~~.<-. )? .;6 ,I~ /
Renee W. Shoob
Loan Officer
10) lE@lE llWlE ~
~ SEP 1 5 2005 I
GOOD FAITH ESTIMATE
(Not a Loan Commitment)
Lender: FIRST CHOICE MORTGAGE, INC. Sales Price:
Address: 217 DAVIS ROAD Base Loan Amount: 79950.00
AUGUSTA, GA 30907 Total Loan Amount: 81149.00
Applicant(s): CAROLYN G HATCHER Interest Rate: 5.500
Type of Loan: FHA
Property Address: 3820 WINCHESTER CT Preparation Date: 09/13/05
AUGUSTA, GA 30906 Loan Number: 2005625
The information provided below reflects estimates of the charges which you are likely to incur at the settlement of your loan. The fees
listed are estimates - actual charges may be more or less. Your transaction may not involve a fee for every item listed. The numbers
listed beside the estimates generally correspond to the numbered lines contained in the HUD-l or HUD-IA settlement statement which
you will be receiving at settlement. The HUD-l or HUD-IA settlement statement will show you the actual cost of items paid at
settlement.
"A" designates those costs affecting APR. "P" designates compensation to Broker not paid out of Loan Proceeds.
"(100.00 example)" designates those fees Paid Outside of Closing.
800 ITEMS PAYABLE IN CONNECTION WITH LOAN: 1000 RESERVES DEPOSITED WITH LENDER:
801 A Origination Due Lender @ 1.000 $ 799.50 1001 Hazard Insurance Impounds $ 63.24
802 A Discount @ 1.500 $ 1002 A Mortgage Insurance Impounds $
803 Appraisal Fee $ 350.00 1003 City Property Tax Impounds $
804 Credit Report $ 15.00 1004 Property Tax Impounds $ 1017.80
805 A Lender's Inspection Fee $ 1005 Annual Assessments $
806 A Mortgage Insurance Application Fee $ 1006 Flood Insurance Impounds $
807 A Assumption Fee $ 1007 $
808 A Tax Service Contract $ 1008 $
809 A Underwriting Review $ 1009 Aggregate Analysis Adjustment $
810 A Administration Fee $
811 A Application Fee $ 1100 TITLE CHARGES:
812 A Commitment Fee $ 1101 A Settlement or Closing Fee $
813 A Warehouse Fee / Interest Differential $ 1102 Abstract or Title Search Fee $
814 P Yield Sprd. Premo 1 % $ (811.49) 1103 Title Examination Fee $ 100.00
815 P Servo ReI. Premo 1 % $ (811.49) $ 1104 Title Insurance Binder $
816 A Origination Due Broker @ $ 1105 Document Preparation Fee $
817 A FHA Upfront MIP / VA Funding Fee $ 1199.25 1106 Notary Fee $
818 A $ 1107 A Attorney Fee $ 350.00
819 A WE PAY JUNK $ 1108 Title Insurance Premium $ 215.00
820 A $ 1111 Endorsement Fee $
821 A $ 1112 $
822 A $
823 A $ 1200 GOVERNMENT RECORDER AND TRANSFER CHARGES:
824 A $ 1201 Recording Fee $ 50.00
825 A $ 1202 City/County tax / stamps $ 258.00
1203 State tax / stamps $
1204 $
900 ITEMS REQUIRED BY LENDER TO BE PAID IN ADVANCE: 1300 ADDITIONAL SETTLEMENT CHARGES:
901 A Prepaid Interest o days @ $ 12.23 $ 1301 Survey $
902 A Mortgage Insurance Premium $ 1302 Termite Inspection $
903 Hazard Insurance Premium $ 253.00 1303 Property Inspection $
904 Flood Insurance Premium $ 1304 Photo Fee $
905 $ 1305 $ 6.50
1306 $
1307 $
1308 AUGUSTA $
TOTAL ESTIMATED MONTHLY PAYMENT: TOTAL ESTIMATED FUNDS NEEDED TO CLOSE:
Principal and Interest $ 460.76 Total Purchase Price / Existing Payoff $ 75254.28
Real Estate Taxes $ 101.78 Estimated Closing Costs $ 5081.25
Hazard Insurance $ 21.08 Estimated Prepaid Items / Reserves $ 1211.37
Mortgage Insurance $ 33.11 -Total Paid Items & Subordinate Financing $ 445.60
Homeowners Association Dues $ -Seller Paid Closing Costs $
Second Principal and Interest $ -FHA UFMIP/VA Funding Fee $ 1199.00
GOOD FAITH ESTIMATE
(Not a Loan Commitment) Loan Number: 2005625
This Good Faith Estimate is being provided by
FIRST CHOICE MORTGAGE, INC.
The Information provided below reflects estimates of the charges which you are likely to incur at the
settlement of your loan. The fees listed are estimates, actual charges may be more or less. Your
transaction may not involve a fee for every item listed. The numbers listed beside the estimates generally
correspond to the numbered lines contained in the HUD-1 or HUD-1 A settlement statement which you will
be receiving at settlement. The HUD-1 or HUD-1 A settlement statement will show you the actual cost for
items paid at settlement.
P.O.C.
800 ITEMS PAYABLE IN CONNECTION WITH LOAN:
801 Loan Origination Fee Due Lender @ 1.000 %
802 Discount Fee @ 1.500 %
803 Appraisal Fee To:
804 Credit Report To: ADVANTAGE CREDIT
814 Yield Spread Premium 1 %
815 Service Release Premium 1 %
817 FHA Upfront MIPNA Funding Fee
819 WE PAY JUNK
811.49
811.49
901
903
900 ITEMS REQUIRED BY LENDER TO BE PAID IN ADVANCE:
Prepaid Interest days @ $12.23
First Year Hazard Insurance Premium for yrs to
1001
1002
1004
1000 RESERVES DEPOSITED WITH LENDER:
Hazard Insurance Impounds 3 months @ $21.08 per month
Mortgage Insurance Impounds months @ $33.11 per month
Property Tax Impounds 10 months @ $101.78 per month
1100 TITLE CHARGES:
1103 Title Examination To:
1107 Attorney Fee To:
1108 Title Insurance Premium To:
1200 GOVERNMENT RECORDING AND TRANSFER CHARGES:
1201 Recording Fee:
1202 City/County Tax/Stamps:
1300 ADDITIONAL SETTLEMENT CHARGES:
1305
1308 AUGUSTA
CHARGES
PAID BY
BORROWER
AT CLOSING
799.50
350.00
15.00
1199.25
253.00
1017.80
100.00
350.00
215.00
50.00
258.00
CHARGES
PAID BY
SELLER
AT CLOSING
63.24
6.50
,
Complete Appraisal Analysis - Summary Appraisal Report
105-2439523
Property Description UNIFORM RESIDENTIAL APPRAISAL REPORT FileNo. 05641
Property Mtess 3820 Winchester Court ettv Awrusta State GA Zip QxIe 30906
5 Legal Descrifiion Lot 31 Block C of Peooeridl!e SID Olunl) Richmond
U Assessds Part:el1\b. 143-3-027-00-0 TaxVear 2004 RE Taxes$ 1,221.38 SplciaI Assessmerds $ None
B ElontMer Hatcher Carolvn OnlriOM1er Hatcher Carolvn Oa:umrt rXl 0I.m" I I Tooart I I V<mt
J fXl Fee Srrde r 1 LeaseOOk:t Proied:TVlll! lPlD r 1 Coo:lomilil.m /I-l.OVAonIot) HQo\$ N/A No.
E NegNxxhood orProject Name PenneridQ(~ MapRererenoe 143-3:27 Census Too 0600:109.02
C
T Sale Price $ refmance CBteofSaIe N/A Desai1ion and $ amoori ofloan cha 10 te mid bI seier N/A
Lend:lnCIiert First Choice Mortoaoe Inc. Mtess 217 Davis Road Auvllsta Ga. 30907
Amaiser Henrv B. Garrett III GA Ad:te&s 3540 Wheeler Road STE 112 AUl1l.lsta GA 30909
Locati:ln UlAIlln ~~dm DRural Predominant Single fainily housing Present land use % land use change
Builup [Xl <:>B75% 25-75% o UncI9r25% occupancy PRICE ~ One FamiI\ 95 o NolUIeI\ D UIe~
$Qml
.... GlONIh ra'e D Rap<! [Xl Slate OSbN OOOI.m" ~laN new 241am [X] In IJOCElSS
ProIBlYvaUes D Incmasing IXl Slate D Declining DTooart 170 High 30 Mub.filmi~ Ta SF Residential from
Demand'sl.WI D ~ IX] In baance D CMlrsullPl [X] \/acari (l}8ll>) ... ...... I f'ledlnilart I CcmmerdaI vacant
Marlelil:l1ine Fi lJnder3/TlOS OOao/TlOS Fl <:>B6rms. nvacanllDVer5'lL1 125 10 vet 5
N Note: Race and the racial composillon oflhe neighborhood are not appralsal factors.
E NegJlxlIhood boundaries and characIerislics Res. neil!hborhood bounded on the north bv Rosier Road east bv HWY 25 south bv Tobacco
I Rd and west bv Windsor Sorinl! Road.
G aIfed slaIiIly, apreaI markt, etc.):
H Fac1Drs 1tat the markSablly ct the pq:aties in the neilhlxllhood (poxinly 10 ef1'1lbIrnenl and amenlies, errpIoymert 10
B The subiect is located in a residential neil!hborhood where there are schools churches and maior retail areas within 2 miles of
0 the subiect. There are no unfavorable factors affecting the value of the subiect. Emolovment stabillt:\T and market anneal is
R averal!e for this area. The subiect neil!hborhood has averal!e suoolv and demand ratio.
H
0
0
0 MaIIel caldIions in the suqea neg:txxhood (ncIudi1g sur.port i>r the alxl\<e cordJsDns reBtOO 10 the 1rend of pq:l8Ily wOOs, clemand'suppy, and marketing 1ine
- such as daIa on oompeljMa JIllIlSties i>r sale in the neGhl:xllhood. desc:rifiion ct the prevalence ct sales and filancing ooncessiJns, eIc.):
Subiect is located in a neil!hborhood with an oood suonlv and demand ratio. Estimated list nrice to sales nrice ratio is 90% to
95%. This area is stable and l!fOwth rate is raoid with normal economic trends. Pronertv values are increasing. I found no
unfavorable factors affectinlJ the marketabilitvof the subiect. Conventional" FHA and VA fmanciDll is common for this area &
readilv available from a varietv of sources.
p Project Infonnation for PUDs (If a~) -Is the deveIopenbJik:leril con1roI of the HaneOMlers' Association (I-OA)? o Ves Uf\kl
U flR:mcina1e1rlaloomber ct unls il1he sul:jld: pojed Awracinale 1daloomber a mls fa sale il the sul:jld: pojed
0 olt
Describe corrvnon eletnen5 and recrea1ionaI13ciili3s:
i rA11eosilns 90.28FxI91.75LSx68.96Rx248A7RS TqxgaJ:tIy rollinI!'
Site area 00402 +/- acres OJmerLct Dves OOI\b Size averal!e
Speck 200ing ciassilicaIion and desa'ipion R-1 SF Residential SI"lJ9 rectanl!Ular
Zoning compliance [XJ l.egll D Legal nooronIbrmi1g (Gl8ndatheled use) D llegal D l\b2lllling [)railage adea to lot line
Hijm& best use as i'r\:JItMd iXi Present use n . CXheruse (expail) VriJN res.ltvnical
5 Utilities Public Other Off-site Impro\lelJ1ents Typl Public PrNate Landsc:apilg minimaVtvoical
I EIectR:ily fZ] SIrnet asphalt fZ] D DMsY.ay &mace concrete
T Gas IX] 0J/bIgulklr concrete IX] D ~ea!IlITeI1lS Normal Utilitv
E Wa'Er [Xl SidlMak D D FEMA SpecSI Flood Hazard Area Dves [Xll\b
SanIaJysa.wr IX] Street fghls elec pole ~ R FEMAZme X Map CBte 03/23/99
SImn sa.wr rxl Mey FEMA Map I\b. 1301580070E
Commenls (awarent ad.eIse easanen1s, encroachrnerds, special assessments. slide areas, illegal cr legal noncorIaming zooing use, etc.} There are no
adverse easements or encroachments affectinl! the value of the subiect.
0 GEIIERAL l:ES:RlPOON ElCTffiIOR 1::E0000PIlON FClJI\OlI.llCN BASEMB/T INSUAl10N
E I\b. ofUnils 1 Founcl3li:Jn slab Slab ves Area Sq. Ft None R:xt _0
5 I\b. of SIories 1.00 Exteri>rWaIls brick veneer QaoM Spooe no % FIlished N/A Ceiing G [X]
C Type (Cet/Att) detached Roof SUrface comp shingle El;Hmert no Ceiing N/A Walls G [XJ
R ranch N/A ==D
I CJesD1 (Style) GutIeIs & DMlsPS. none SlrpAJrp no Walls Floor
P ExisIil9f'roIxl existinl!' WrmNType metal SH Imple$ no Floor N/A Nooe _D
T Age (Yrs.) 3 S1DrJnIScreens noNes SetIIement no 0u1side Enlrj N/A U"k1o.vl _D
I Eflecljye Ace Yrs.l 2 Manlfadured tiJuse no Irmslatial no
0
N ROOMS ~ l.Mng Dning Kix:hen Den Farriy Rm Rae. Rm Bedoorr6 # BiIIhs Laundr) Other Area Sq. Ft
El;Hmert None
0 l1M!Il 1 1 1 1 3 2f 1 1170
F
LEMlI2
I
M FlIlishedarea above aram contails: 6 Roans; 3 s' 2.00 Bathls); 1 170 Sc Jam FeEt ct Gross lMllIArea
P INTERlCR MateriaIslCoodlion I-EA T1f\G K1Ta-EN ECUP. ATTlC AMENTIES Q'\R SfCRl'GE:
R
0 Floors camet vinv lIG Typl WFA Refrgeralor 0 Nooe 0 Rreplace(s) # 1--00 Nooe D
V Walls sheetrocklG Fuel l!aS ~ IX] Slairs D Patio 120 SF IX] Garage # of cars
E Trin/Finish woodlG CondIion aVl! CisposaI [X] Drop S1ai' ~ Deck 0 AtIadled
M
E Bath Roor vinvllG CXlOLIN3 llstMasher [X] Scutlle Porch 35 SF [X] IJellidled
N Bath Wainscot fiberl!lass/G CenbaI elec Rm-kxxl IXl Floor n Fence D Bui~-1n
Valuation SectIon
Complete-Appraisal Analysis - Summary Appraisal Report
UNIFORM RESlDEN11AL APPRAISAL REPORT
105-2439523
File No 05641
EsnMATEDSllE VAlUE ...........................................=$ 20,000 CommenIs on Cc5l .Awmch (Slrlt as, SOUIte of rost e5Iimale
C EsnMATED REPROOUCllON COSTNEWOF IMPRCNEMENTS: siIe valle, squam filot cabJ1aIion and for t-UJ, VA and Fni-VI, !he
0
S DM3Iing 1,170 Sq. Ft@$ =$ estimated remainirl;) e<:onorT1C Ie of the 1JOIl8flY): See sketch fOl
T BSMf None SqFt@$ = SF calculations
not reauired =
A Garage/Carport SqFt@$
P =
-
P TofaJ EsIirnaIed Cc5l New ............................. =$
R Less 3 . 3 Physk:al FurdXJnal BdEmaI
0 ~ I I =$
A
C DepecialedValJedl~ ......................-............ =$
H ':AlHs" Value of SiIe IrnpItlIoI!lmenls . . . - . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . =$
INDICATED VALUE BY COST APPROACH 20 000 =$ 20 000 Remainina Economic Life: 58 Remainina Phvsical Life: 58
ITEM SlJ8JECf o:::MPARAI3lEIIIO.l o:::MPARAaE 11IO. 2 o:::MPARAI3lE 11IO. 3
3820 Winchester Court 3807 WINCHESTER CT 3803 WINCHESTER CT 1012 WALLIE COURT
.AI:tiess PEPPERIDGE PEPPERIDGE PEPPERIDGE AUillJSta
ProlciniIy 10 Sul:jed ...,./ SAME BLOCK SAME BLOCK 1/2 MILE SOUTIIWEST
Sales Price $ refmance )'.1 $ 99,500 c' ./.>,. / 1 $ 99,500 ...... 1$ 94 900
Pri:eIGross Liv. Area $ 1JI$ 74.09 1lI1<" ,. $ 69.24 III 1 ..... .., S 59.46 III ....
Dale aOObr INSPECTION MLS/AACrrx RC CLSD MLSrrAX RC CLSD ApprlMLS/AACfIR CIsd
VeIification Source COUNTY TAX RECDS COUNTY TAX RECDS PB TAXRECDS CLSD
VALLEADJUSlMENTS lESCRIPl1O>l CESCRIPl1O>l + (-) S Adjustment lESCRIPl1O>l + (.) S Adjlstmenl lESCRIPl1O>l + (-) S Adjustment
Sales or Fmancing .... VA-Seller VA-Seller V A-Seller
ConcessiJns PD $2985 PD $2985 PD $3321
Dale ofSalEffrm 11/02104 04/28/05 7111/2005
l<x:a1iln Suburban Suburban Suburban Suburban
LeasehdcWee SrnIE Fee Simnle Fee Simnle Fee Simnle Fee Simnle
8le 90. 28xIrrl! 79x130 67.5x138 .489 acre +5,000
V'SN Resltvoical Re~hvTlical ReSltvoical Resltvoical
S 0esg1 arxlJlR:eal l.O/A l.O/A l.O/A l.O/A
A
L QuaIiy d CQnstrudDn BVlA BVlA BVlA BVlA
E Aga A3 E2 A5 E2 A4 E2 A91E5 +4.003
s Ccndlin Good Good Good AVrll remodld
C Pb:M3 GIada Total I Bdms I Baths Total 1 Bdms I Baths Total 1 Bdms I Baths Total Bdms I Baths
0 RxmOxrt 6 I 3 I 2.00 6 I 3 I 2 6 I 3 I 2 7 3 I 2.00
M Gross LMng Area 1,170 SqFt 1,343 SqFt -4 325 1,437 Sq. Ft -6675 1,596 SqFt -10,650
P Basement& Fnished None None None None
A
R RccmsBebNGIada
I Functional Utilly A veral!e A veral!e Averal!e A veral!e
s H3aIilgCooing Central Central Central Central
0 EneI9Y EIIicient IIems Ins WID CF Ins WID CF Ins WID CF Ins WID CF
N
Garage/Carporl OSP I Gar -2,500 OSP OSP
A Porch, PaOO, Deck, Pch,PT,CC P,PT,TC,CC -500 P,PT,TC,CC -500 P,CvdPT,TC -1,000
N Frepaoo(s), etc. 1 FP I FP 1 FP IFP IC
A
L Fence. FI:Jo\ etc. Sod SS Sod SS Sod SS Fence
y KIT APPL MK MK MK MK
S NatAli (lolaO . ..... 11 + I Xl-I $ -7325 11 + lXI-I $ -7175 1 ul + lXI-I $ -2 647
I ........ Gross 7.4% Gross 7.2% Gross 21.8%
S .f>4isIed Sales I'rioo
ofOrrlE""*' Net -7.4% $ 92,175 Net -7.2% $ 92,325 Net -2.8% $ 92,253
CormlenIs on Sales OrrlErison (nclJding !he suqea IJOlElIYs canlEUY 10 !he neighlxlrtood, etc.): All of the above sales after adiustments lrive
a reasonable value indication for the subiect. All sales are considered to be the best closest and most recent available. All
condition adiustments where necessllIV. were calculated on the arle line. Comnarable sale #3 reauired a larl!er than normal sinl!le
line adiustment for size.
ITEM SlJ8JECf o:::MPAAABLEIIIO.l o:::MPARAI3lE 11IO. 2 o:::MPARAaE 11IO. 3
Dale, I'rioo allC\[llla 11/27/02 None None 08/16/96
Source, for JJior sales $79,900 County Tax Reds County Tax Reds $78,900
v.1Ihin yearof appmE;aI County Tx Rcds County Ix Rcds
Analysis d any cunmt agreemert d sale, cpion. or IsIi1g of !he sul:jed IJl)peIty arxl ~ of any prior sales of 5Lt'jed: and canparables W1hi'l one year of !he dale of appIlIisal
Subiect is not listed for sale and has not been listed within the nast 12 months. FHA refmance.
INDICATED VALUE BY SALES COMPARISON APPROAOf ................................................................................................. $ en 'JI'Y) m
INDICATED VALUE BY INCOMEAPPROAOf 1If ArdicaJje\ EstimaIEd Mallet Rert ~ iMo. X Gross Rent Mulinlier = $
This apJXaisaI is made D"asis" [XJ suqeato the rep3is, aleraOOns. inspedDls orCOlldiilns IisIBd bebN D suqea 10 ~ plr plms and speclK:alDns.
Condfuns of JIwaisaI: Subiect to items noted on illJD92564 rvc sheets).
R
E Final Rec:onciiation: It is mv oninion that the market aODfoach lrives the best indication of value for the sub; ect. To the best of mv
c knowledge, the subiect sold within thepl.l~36 months 11/27/02 for $79 900