Exhibit_A Purchase_Allocation (1) (1).pdf
Qutaiba Alhabshy, Petitioner V City Of Lansing, Respondent · 25-002978-TT
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Exhibit A Purchase Documentation & Value Allocation 1. Purchase Price Documentation The subject property located at 3322 Turner Rd, Lansing, MI 48906, was purchased for $45,000 on November 5, 2024. A signed ALTA Settlement Statement is included as documentation of the transaction. 2. Allocation of Purchase Price Between Real Estate and Personal Property Total Purchase Price: $45,000 Less Personal Property (approximate fair value): - Electric leather recliner: $280 - Refrigerator: $310 - Washer: $295 - Dryer: $300 - Stove/Oven: $285 - Curtains & rods (6): $160 - Lamps (3): $115 - Chaise chair: $150 - Backyard shed 1 + tools: $720 - Backyard shed 2 + tools: $710 Total Personal Property: $3325 Adjusted Real Estate Value: $45,000 - $3325 = $41675 3. Commentary The real estate-only portion of the sale is estimated to be $41675, based on a reasonable fair-market valuation of the included personal property. This adjusted value more accurately reflects the true cash value of the property as defined in MCL 211.27 and supports the Petitioner's
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requested SEV reduction to $20,750.