COM 0585.001 1996-1998 - Laserfiche WebLink

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LAWRENCE APPRAISAL GROUP HAWAII, INC. File No. $29o2i{iio PURPOSE AND FUNCTION OF REPORT: The purpose of this report is to estimate the fee simple market value of subject property as defined herein. This estimate is to be used solely by the client for negotiated a selling pace for subject parcel. SCOPE OF THE APPRAISAL: The following steps were taken to arrive at the final estimate of value: 1. A preliminary search of all available data resources was made to determine market trends and influences, as well as other significant factors pertinent to subject property and its estimate of market value. 2. A physical inspection of the site was performed as best of possible given the terrain and physical conditions on the site. Although due diligence was exercised during the inspection, the appraiser is not an expert in such matters as pest control, engineering, environmental or safety hazards, soil technology, or surveying. No warranty is implied for these items. The client should seek a professional for expert advice in these matters to ensure their security. 3. Research and collection of all data (closed or pending sales, listings, and other factual material) that is relevant to subject's estimate of market value was undertaken. The data is considered to be sufficient in quantity and quality to determine an opinion of value as defined herein. All data is either contained in this report or held in the working notes of this file. No data was knowingly omitted or was unobtainable that would have impacted the value of subject property. 4. An analysis of the relevant data was conducted using all of the appropriate recognized approaches to determine value. Each approach was reconciled, and then a final estimate of value was determined. The report was then completed, signed and rendered to the client in a professional and timely manner. APPRAISER'S CERTIFICATIONS: Suzanne Hart is licensed by the State of Hawaii as a certified residential appraiser, is a candidate member of the Appraisal Institute, and has the knowledge and experience necessary to complete this appraisal assignment. Robert Lawrence, SRPA, is licensed by the State of Hawaii as a certified general appraiser, is a member of the Appraisal Institute, and has the knowledge and experience necessary to complete a desk review of the appraisal report. We both certify that, to the best of our knowledge and belief, the reported analyses, opinions and conclusions were developed and this report has been prepared in conformity with the requirements of the Code of Professional Ethics and the Standards of Professional Appraisal Practice. It should be noted that subject property does not meet USPAP minimum criteria as it is an unimproved lot. This appraisal is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. LEGAL DESCRH'TION: Parcel 31-B Government Road Remnant (S.D.R. 3(15), situated at Puuohoa 1st, North Hilo, Island of Hawaii. COMMENT ON ZONING AND HIGHEST AND BEST USE: Subject site appears to have no zoning classification since it is a county-owned road remnant. It has been assumed the parcel will be consolidated with the adjoining parcels, all of which are currently zoned A-20 (minimum 20-acre lot size). When consolidated into the adjoining TMK parcels 332-3-16, 332-3-17 and 332-3-38, the total combined acreage will still be less than the minimum 20-acre lot size. 75-5791 LOPEKA PLACE, KAILUA-KONA, HI 96738, (BOS) 329-3900 PAX (808) 329-3555