Wittbrodt.pdf
Estelle K Wittbrodt, Petitioner V Township Of Holly, Respondent · 25-003552-TT
Text extracted from the reviewed PDF, organized by page. OCR and reading order may contain errors; confirm details in the PDF below.
Page 1
RECEIVED
TY
AUG 0 5 2025
=
MICHIGAN TAX TRIBUNAL
STATE OF MICHIGAN
GRETCHEN WHITMER
DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS
MARLON |. BROWN, DPA
GOVERNOR
LANSING
DIRECTOR
PROPERTY TAX APPEAL PETITION FORM
VALUATION / EXEMPTION / CLASSIFICATION APPEAL
Do not use this form to appeal Principal Residence Exemption, Qualified Agricultural Exemption, Special Assessment, or
Non-Property tax disputes.
Pursuant to Michigan Tax Tribunal Rule (TTR) 279, you MUST submit a copy of the notice giving rise to the appeal
(e.g. Board of Review Decision or Notice of Uncapping) with this Small Claims Petition, if applicable. If you do not
submit this document, you may be held in defauit.
Section 1: Petitioner’s Contact Information
First Name
MI.
Last NamelCompany Name
Estelle
K
Wittbrodt
Mailing Address (No., Street, P.O. Box or Rurai Route)
6204 Grange Hall Rd
City or Town
State
21P Code
Holly
Mi
48442
Telephone Number, 18.7 1 9-5387
E-mail Address (do not enter unless you want MTT to send all correspondence via e-maif)
Section 2: Petitioner’s Attorney/Authorized Representative’s Contact Information
I
First Name
MI.
Last Name
Firm Name {if any)
Mailing Address {No., Street, P.O. Box or Rural Route)
City or Town
State
ZIP Code
Telephone Number
Email Address (do not enter unless you want MTT to send all correspondence via email)
Section 3: Subject Property Information
How many
if you are appealing more than ona parcel, are they contiguous or adjoining?
parcels areyou | ['] yes
[] No*
appealing?
*If yes, use a multiple parce! form for information regarding any contiguous parcels.
1
*4f no, you must file separate appeals for each non-contiguous or non-adjoining parce! or you will be defaulted.
Property Address (No., Street, City, ST, ZIP)
(If multiple, list first property’s address)
6204 Grange Hall RdPage 2
STATE OF MICHIGAN GRETCHEN WHITMER DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS MARLON |. BROWN, DPA GOVERNOR LANSING DIRECTOR Section 4: Issues Being Appealed (check all that apply) True Cash and Taxable Value O Poverty Exemption [J Taxable Value Only (calculation) [0 Disabled Veterans Exemption [J Uncapping of Taxable Value [O Eligible Manufacturing Personal Property (ESA) Od Exemption from Taxation (other than the denial of a [O Classification Principal Residence or Qualified Agricultural Exemption) Section 5: Explain the Reason for this Appeal | purchased my home in September 2023. In May 2024, my mortgage company sent me notice that my taxes were higher than anticipated. Since | had missed the March Board of Review for 2024, | needed to wait until March 2025. | attended the March Board of Review and recieved notice that there had been no change. The following is what was presented at the March Board Review: | purchased my home for $211,000 after it was appraised at $214,000. There are not many homes in my neighborhood (NBHD) of RHA that were built in a similar year of 1926 with my acreage of 6.31. | found some comparables from the Oakland County Website, which are attached. | am also attaching the appraisal that was done prior to the purchase of my home. | believe that the assessment of my home should be between $211,000-$214,000, which would make the taxable value between $105,500-$107,000. | am formally appealing valuation. Section 6: Jurisdictional Issues Year(s) you are appealing: 2023, 2024 Did you protest the assessment at a Board of Review (BOR)? [/] Yes [No If Yes, check which BOR you attended AND attach the BOR decision: March O July O December If No, check the applicable reason(s): O Not required to attend Assessment Change Notice was not received by Petitioner a Appealing a purported Clerical Error or Mutual Mistake of Fact (if yes, include explanation in Section 5) [| Appealing within 35 days of State Tax Commission Order Appealing within 35 days of receipt of Notice of Uncapping
Page 3
STATE OF MICHIGAN
GRETCHEN WHITMER
DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS
MARLON I. BROWN, DPA
GOVERNOR
LANSING
DIRECTOR
Section 7: Valuation Information use he multiple parcel form for additional, contiguous parcels.
Parcel Identification Number:
1-01-25-126-013
Classification of Property:
Real
Personal
(check one)
Agricultural
Commercial
Industrial
Residential
Timber-Cutover
Developmental
Utility
{check one)
Current Assessed Value (also known as State Equalized Value) as established by the BOR:
130,460
Current Taxable Value as established by the BOR:
128,120
What do you believe is the fair market value (also known as True Cash Vatue)?
211,000
Multiply the True Cash Value by .5 and enter here. This is your contention of Assessed Value,
105,500
if you believe the Taxable Value differs from your contention of Assessed Valus, enter your contention of Taxable Value.
Section 8: Classification Information *Only the MI Dep't of Treasury may appeal this Issue to the Tribunal*
Parcel identification Number:
Current Classification of Property as established by Board of Review:
Real
Persona
[check one)
0
Agriculturat
Commercial
Industrial
Residential
Timber-Cutover
Developmental
Utility
(check one)
What do you believe is the property’s classification?
Real
Personal
{check one)
[m]
Agricultural
Commercial
Industrial
Residential
Timber-Cutover
Developmental
Utility
(check one)
If improved property, how is the property currently being used?
If improved property, for what use was the property designed?Page 4
STATE OF MICHIGAN GRETCHEN WHITMER DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS MARLON I. BROWN, DPA GOVERNOR LANSING DIRECTOR Fee Information Does the subject property have a Principal Residence Exemption of at least 50% as of the date of the filing of this petition? Yes [J No Are you appealing ONLY the denial of a Poverty Exemption or Disabled Veterans Exemption? O Yes No If you answered yes to either or both of the above questions, you are not required to pay any filing fees. The filing fee is based on the greater of the State Equalized Value or Taxable Value in contention. If you are appealing more than one parcel, the parcel with the highest State Equalized Value or Taxable Value in contention will be used to determine your filing fee, plus $25.00 will be added for each additional parcel being appealed, not to exceed a total filing fee of $1,000. If your property is residential property (see MCL 205.762) and the State Equalized Value or Taxable Value in contention is: Filing Fee is: $100,000.00 and under $125.00 $100,000.01 to $500,000.00 $200.00 $Over $500,000.00 $300.00 If your property is NOT residential property (see MCL 205.762) and the State Equalized Value or Taxable Value in contention is: Filing Fee is: $100,000.00 and under $250.00 * Plus $25.00 for each additional parcel, as indicated above. If your property is NOT residential property and the State Equalized Value or Taxable Value in contention is $100,000.01 or greater the appeal does not qualify for Small Claims. Therefore, an Entire Tribunal petition must be filed. Signature *Required Petitioner or Attorney/Authorized Representative’s Signature: Ist
Page 5
* Notise of March Board of Review Change ** FROM TOWNSHIP OF HOLLY MICHEAL R. LOHMEIER, ASSESSOR 102 CIVIC DRIVE HOLLY MI 48442 NAME AND ADDRESS OF OWNER OR PERSON NAMED ON ASSESSMENT ROLL: WITTBRODT, ESTELLE 6204 GRANGE HALL RD HOLLY MI 48442-8778 PROPERTY IDENTIFICATION: 1-01-25-126-013 SCHOOL DISTRICT: 63210 PROPERTY ADDRESS: % 6204 GRANGE HALL RD THIS PROPERTY IS CLASSIFIED AS: 401 Residential PRINCIPAL RESIDENCE/QUALIFIED AG EXEMPTION: 100.00% MICHIGAN BUSINESS EXEMPTION: 0.00% PRIOR YEAR'S CLASSIFICATION IF DIFFERENT: 401 Residential The Board of Review has Examined your 2025 Assessed Value and/or Capped Value and has made the following decision: PETITION NUMBER: 008 DATE: 03/10/2025 VALUE PRIOR MBOR | VALUE AFTER MBOR CHANGE 1. ASSESSED VALUE 130,460 130,460 0 2. CAPPED VALUE 128,120 128,120 0 3, TAXABLE VALUE 128,120 128,120 0 4. TENTATIVE EQUALIZATION FACTOR: 1.000 5. STATE EQUALIZED VALUE: 130,460 6. There WAS/WAS NOT a transfer of ownership on this property in 2024, WAS NOT 130,460 The 2025 Capped Value Formula is the 2024 Taxable Value, minus losses, increased by the Inflation Rate Multiplier of 3.1%, plus Additions. Taxable Value is the lower of Assessed Value or Capped Value unless an Ownership Transfer occurred. Your Taxes are Levied on the Taxable Amount. Further appea} of valuation may be made to the Michigan Tax Tribunal by filing a petition that can be obtained at www. michigzn. gov/taxtrib (click Small Claims Tab) and mailed to PO Box 30232, Lansing, Mi 48309 by May 3 ist for Commercial Real, Industrial Real, Developmental Real, Commercial Personal, Industrial Personal, and Utility Personal Property. The final date for further appeal of valuation for Agricultural Real, Residential Real, Timber Cut-over Real, and Personal Property is July 31st, Michigan Tax Tribunal Decisions received February through May are not reflected in this March Board of Review
Page 6
House Cost Comparables Things to consider: There are not many homes in my neighborhood (NBHD) of RHA that were built in a similar year to my home and have my acreage. These are some comparables | have pulled from the Oakland County Website. In addition, an appraisal was made prior to my purchase, which also includes comparables. 6204 Grange Hall Rd Colonial/2Sty 1,792 sq ft 6.31 acres Built in 1926 Sold on 9/25/2023 $211,000 Recent Comparables: 3: 6204 Belford Rd Colonial/25ty 2,831 sq ft 3.91 acres $275,000 5525 Lahring Rd
Page 7
Ranch 1,120 sq ft 3 acres Built in 1987 Sold on 11/8/2022 $175,000 16394 Fish Lake Rd Ranch 1,034 sq ft 1 acre Built in 1932 Sold on 9/29/2022 $143,000 16388 Tucker Rd Single Family 1,218 sq ft 0.6 acre Built in 1978 Sold on 8/12/2022
Page 8
SUMMARY OF SALIENT FEATURES
SUBJECT INFORMAT]
PARTIES
PRICE
& DATE
DESCRIPTION OF IMPROVENENTS
« & & 5
£ & %
VALUE
Subject Address
6204 Grange Hall Rd
Legal Description
See attached addenda.
City
Holly
County
Oakland
Stale
Mi
Tip Code
48442
Census Tract
1240.00
Map Reference
47664
Contract Price
§ 211,000
Date of Contract
04/20/2023
Borravier
Estelle Witlorodt
Lender/Client
United Wholesale Morigage, LLC
Size {Square Feel)
1,781
Price per Square Foot
$
Location
NiRes;
Age
97
Condition
c4
Total Rooms
Ll
Bedrooms
3
Baths
11
Appraiser
LYNDA BRINKER
fective Date of Appraisal
04/25/2023
Opinion of Valve
$ 214,000Page 9
Class Valuation
Uniform Residential Appraisal Report
Fie 1223241296
The purpose
of this summary appraisal
report Js
to provide the Jender/clent with
an accurate, and adequalely supported, opinion
of the market vale
of the subject property.
Property Address
6204 Grange Hall Rd
Sty
Holly
Site
mI
DpCode
48442
Boower_Estelle Wittbrodt
Oumar of Pubkc Record
Sharon D Cravdord
County Oakland
LegaiDescriplion
Ses attached addenda.
Assessor's Parcel #
01.25-126-013
Tax Yew
2022
RE Tares$
300
in Heighborhood Mame
Holly Twp
Map Reference
47664
Census Tract
1240.00.
Id Occupant
[Q) Owner
[7 Tenant
[7] Vacent
Special
5
o
Clrue
HOAS 0
T peryear
[J permontn
Eid Property Rights Appraised
OQ Feo Simple
[] Leaschold | | Other {descrive)
4
Type
BR Purchase Tr
{) Refinance Transaction
[] Other
Lender/CEent
United Wholesale Mortgage, LLC
Addiess
585 South Bivd E, Pontiac, Mi 48341
Is the subject property currently offered for sale of has A been offeced for sale in the twelve months prior
to the effeclive dale of INS aporaisat?
Rives
Cho
Report data source(s) used, offeing price(s), and date(s).
DOM 4;Subject was listed on 04/16/2023 for $200,000. It entered contract status on
04/20/2023: REALCOMP#20230028102;
1 DG dd
[] did aot analyze the contract for sale for the subject purchase transaction, Explain
the results of the analysis of the contract for sale or why
the analysis was nol
pedormed.
Arms length sale; Typical purchase contract, pending sale. No personal property was included in the sale price or given value.
Is
there any financial assistance (loan charges, sak concessions, gift or downpayment assistance, ele.) to be paid by any party on behalf of the bomower?
OYes
pga
Contact Price
§
211,000
Date of Contract
04/20/2023
Is the property sefier the owmer of pubBc record?
~~ Dives
[
No
Data Source(s)
PRD
s
1 Yes, report the total doliar amount and describe the ems 10 be paid.
$0;
Hote:
Race and the racial composition of the nelghborhood are not appralsal factors.
ait Housing Trends:
tocaton
[| Usman
DG Subwban
{] Rural
Property Values
[7] Increasing
Stable
[7] Decining
PRICE
One-tint
Wouicth
3X Or 75h [12575%
|] Under 25% | DemandiSupply
D9) Shortage
in Batance_[] Over Supgty |
§ (000)
2-4 Unit
Growth _[ } Rapid
DG Stablz
[Slow
Marketing Time
[J36mhs
{
JOver6mths | 4756
Low
Mutl-Famity
5
i
South of Grange Hall Rd, West of 1-75, North of € Holly Rd, East of N Saginaw |
300
Hah
[
4 SL
259
Pred.
Obes
wed Description
Area of very mixed ages and styles some on acreage parcels located in Holly Twp. Close lo shopping and amenities,
03
308x463x 148x186x972x73x53x453
Aes
6.34 ac
Shape
_frrequtar
View
A: CtyStr;
Specific Zoning Lassification
SR
Zong Description
Suburban Residential
Zocing Compliance
DX Legal [ ] Legal Ron
{
Use)
[] NoZomng
[J begat
(6
Is the highest and best use of subject propery as
i
(oras
‘per plans and specifications)
the present use?
9G ves
[Ito
if Ho, describe
Utdities.
Public
Other (describe)
Public
Other (describe)
Off-site Improvements - Type
Public
Private
Becicy
DG
(]
Water
C)
Owes
Sted Asphalt
D:]
[2
8%)
Satay Sewer | |
DG Septic
By
None
Ll
L}
FEMA Special ood Hazard Ares
[Yes
Xi Ho
FEMA Flood ZoneX
FEMAMap #
25125C0154F
FEMA Map Date
09/29/2606
Arg the uidilies and off-site &
typical for the market area?
DQ Yes
[] Ho
ii No, deserve
Are there any adverse ste conditions of external factors (easements, encroachments, enviconmertal condiions, land uses, ele)?
i Yes
[7] Mo
IfYes, describe
The sublecl is located on a traffic strest. Well and septic is common to the area and does not affect marketability. Water and sewer js not
available.
General Description”
20
i
“Foundallon
=
malarials/co
-materlals/conditlon
Unils = One [) One wih Accessory Unit o Conc Sib
[J Craw Space
[Foundation Walls
Cong/Avg
Hoots
CarpNinyVAvg
# of Stories
2
[9 Fol Basement
| | Partial Basement
[Exterior Walls
VinyVAvg
Walls
DiywallAvg
Type BC Det [] AQ
[_} 8-Det/End
Unt
[Basement Area
896 sq. Roof Surface
AsphaltiAvg
FimFinish
Wood/Avg
IC Existag
{|} Proposed
|] Under Const. [Basement Finish
QO
%{Gutiers &
Alum/Avg
Bath Floor
TilefAvg
Design {Style}
Caloniat
5 Outside Entiy/Eadt
{7 Sump Pump
{Window Type
Vinyl Ins/Avg.
Bath Viainscot_None
Year Bult
1926
Evidence of
[| Intestation
Storm Sashinsolated
YesfAvg
Car Storage
|_| None
Elective Age {Y1s)
25
i] Dampnéss [ ] Setemant
[Screens
Yes/Avg
Driveway
#01 Cars
3
Abie
{J None
Heating
D4) FWA
TT] HWBB
[| Radiant |Amaniles
[TWoedstove(s) #
_¢ JOriveway Sudace
Asphalt
[1] Drop Stax
3 Stas
i Other.
[Fuel Gas
I Fieplace()
#
1
[] Ferd None
x Garage.
# of Cass
1
1] floor
BK Sete
[Cooking
[7] Central
Ar Conditioning
3 Patig/Dack Deck
DG Porch Front
[1 Carport
# of Cars
hy
1 Fished
{1 Heated
(J tocvidual
[5X Over None
Pool None
[J Goer None
IGA
[Joa
[vito
Apprances [| Refrigerator
{ ] Range/Oven [ ] Dishwasher
Disposal
[] Microwave
|] Washer/Dryer
D€ Other {descide)
Nona
Fashed area above grade contains:
6
Rooms
3
Bedrooms
1.1_Balhis}
1,791
Square Feet of Gross Ling Area Above Grade
Addtonal features (spacial energy efficient hems, elc.).
Enclosed porch bi
n house and garage, standard features.
Describe the congiion of the property (cluding needed sepals, delerioration, renovations, remodeing, elc.).
C4;No updates In the prior 15 years;On the date of
inspection the ulilities were turned on and functional. The rear deck needs replacing and there is a door from the house where if you step out
there is a 10 foot drop. These items were given a cost to cure. The home needs overall updating as nothing has been done for some lime,
Are there any physical deficiencies or adverse conditions thal aifect the vabily, soundness, of structural integrity of the property?
OK Yes
[7 to
tf Yes, describe
The deck has rolling boards vilh some missing so this should be removed or rebuilt,
the storm door needs to be secured.
Employment centers are focated within one hour via surface streets and expressways.
Holly School district
Markel Conditions (inchuding support for the above conclusions)
FHA and conventional loans are the most popular forms of financing at this ims. Property
values In the market have increased over last year but are starting to show slans of slowing dus to increased interest rates.
H
13 I =Page 10
Uniform Residential Appraisal Report
Fie # 1223241296
Thess are
2
comparshs
curently offered
for sale
in
the subject nd
ranging
in price fom
$
$76,000
o§
298,800
There are
6
comparable sales in Whe subject neighborhood within the past twelve modths ranging in sale price from $
175,000
$300,000
FEATURE
|
SuBdEeT
COMPARABLE SALE # 1
COMPARABLE SALE # 2
COMPARRBLE SALE # 3
Addsss
6204 Grange Halt Rd
6526 Lahring Rd
1140 Grange Halt Rd
720 E Sherman St
Holly, Mi 48442
Fenton, Mi 48430
Holly, Mi 48442
5.23 miles W
2.38 miles SW
$
220,000)
300,000
$263.47 salt
:
145.07 sqit
=
RCMLS#20221012824;D0M 61
_|RCMLS#2022100B007:D0M 29
|RCMLS#2220030316,00M 3
MLS/AccOak
MLS/AccOak
MLS/AGeOak
DESCRIPTION
DESCRIPTION | +() SAdusiment | _ DESCRIPTION | +() SA
DESCRIPTION | +() § Adustment
Sales or Financing
[Amin
ArmLth
ArmLth
Concessions
Conv;0
Conv;0
Conv;Q
Dale of Sale/Time
“1s11/22,c00/22
508/22,607/22
506/22:06/22
Locaton
N:Res;
N;Res;
N;Res;
N;Res;
Leasehokd/Fee Simple
Fee Simple
Fee Simple
Fee Simple
Fee Simple
Site
6.34 ac
3.00 ac
+9,000]38333 5
+18,000{3.83 ac
+6,000)
View
ACtySt;
NRes;
-5.000|AClySY;
NiRes;
-5.000
Design (Sty)
DT2:Colonial
_|DT1;Ranch
0IDT1;Ranch
0{DT2FarmHse
0
Guy of Construction
04
Q4
Q4
Q4
Adv Age
o7
36
of74
0j97
Condition
c4
C4
ca
-25,000{C3
25,000
Above Grads
Tula [Berm | Sats | Tod [Bd | Baths
Tots [Bams. | Baths
Total
| 8dms.| Baths
Room Count
6] 311]56]
2 10
+5000
5 [
2 T1o
+5000]
81
4
14.4
fy
Gross Living Area
1,791 sift
1,120 soft
+20,100]
835 sgft
+28,700)
2,068 sqft
-8,300
Basement & Finished
89651050
0st
+4,000[835510s1n
0[728s10sfin
[
Rooms Below Grade
Functional lity
3 Bedrooms
[2 Bedrooms
+1,000]2 Bedrooms
+1,000]4 Bedrooms
-1.000
[i engi Coding
FWA/None
|FWA/MNone
FWAICAC
-3,500HWBB/None
9
Fo Evy Etcintens
[Typical
Typical
Typical
Typical
Iq Garage/Carpont
19aldw
None
+10,000! toa fdw
20a20w
-10,000)
Ed PorcvPatioteck
Deck, PchEnc
[Porch
+4,000{Porch/Deck
+4,0001Porch/Deck
+4,000
fe] Fieglace
Fireplace
None
+3,000/None
+3,000}Fireplace
{4 Anesties
None
Pole Barn
-10,000{None
None
4 Deck Replacement
Yes
None
-2,000]None
-2,000|None
-2,000]
fo Net Adjusiment (Total)
:
Co
Ry (08
39,100]
M+
[]-
[8
20200]
(1+
D9:
[8
41,300
Pe Acusted Sake Pico
NetAd.
22.3%
NetAd
133%
HAAG
138%
Ped of Comparables
:
So
|cossAg
41.8%{$
214100605 AGL.
41.6%|8
249200|Gi05s Afi.
204%|$
258,700
ET 5% Gd] 0
nol research the sab or ranster history of the subject properly and comparabla sakes. 1 rat, explain
Myresearch
[) 8
OK) 6 not reveal any prior sales of yansters of the subject property for the three years prior 10 the effective dale of this appraisal.
Oatz Source(s)
Per Realcomp
Myresearch
| ] dG 6d nat reveal any prior sales or lranstars of the comparable sakes for the year prior
to the date of sale of he comparable sale,
ata Source(s)
Per Realcomp
Report the results of the research and anafysis of the prior sale or ransier history
of the subject property and comparable sakes {report addtional prior sales on page 3).
HEM
SUBJECT
COMPARABLE SALE #3
COMPARABLE SALE #2
COMPARABLE SALE #3
Date of Prior Sate/Transfer
Price of Prior Sake/Transfer
Data Source(s)
Qakand County Records
| Qakiand County Records
|Qakland County Records
| Qakland County Records
Effective Date of Data Source(s)
0412512023
04/25/2023
04/25/2023
04/25/2023
Analysis of prior sake of Iransfer history of the subject property and comparzbie sales
There were no sales within the required time frames.
‘Summary of Sales Comparison Approach
See atlached addenda.
J) indicated Value
by Sales Comparison Approzch $
214,000
Indicated Value
by: Sales Comparison Approach §
214,000
Cost Approach
{if developed)$
238,073
Income Appraach
{if developed) §
| The cost and income approaches to value are considered; however, the market dictates they are not necessary to credible assignment results
H and are not included in this appraisal. The sales comparison best demonstrates the behavior of market participants and is given all weight in the.
{21 dolermination of market value,
S|
Tis appraisals made
[[) "asi",
[J
subject to completion per plans and specificaions on the basis
of
a hypothetical condition that the improvements have been
2 completed,
DC subject to the following (epars of alterations on the basis
of
a hypothetical condition thal the repars
or akerations have been completed, or {J subjectto
thePage 11
Uniform Residential Appraisal Report
Fie # 1223241296
FEATURE
TSuslecr
COMPARABLE SALE 7
4
COMPARRBLE SALE # §
COMPARABLE SALE # ©
Address
6204 Grange Hall Rd
416 Thomas St
2400 Academy Rd
Holly, Mi 48442
Holly, M| 48442
Holly, MI 48442
Provimity
to Subject
_
2.31 miles SW
3,93
miles SW.
Sala Price
$
211,000}
©
0s
200,000}
Sale Prict/Gross Liv. Ae
s
$174.52 sqft]
=
178.39 sqft
{0
suf
Data Source(s)
RCMLS#20221007597:00M 31
_|RCMLS#20230028168;D0M 5
Verification Souce(s)
=
MLS/AccOak
MLS/AccOak
VALUE ADJUSTMENTS
DESCRIPTION
DESCAPTION
| +() SAdustment |
DESCRIPTION
| +(} §Adustment |
DESCRIPTION
| +{) $ Ady
Sales of Financing
en
Armi.th
Listing
Concessions
Cony,0
Dale of Sale/Time
:
©
[s08R2;c07122
04/23
Location
N;Res;
N;Res;
N.Res;
t
ee Simple
Feo Simple
{Fae Simple
Feo Simple
of Ste
6.34 ac
1.58 ac
+16,000{1.00 ac
+15,000)
i
View
AClySte;
N;Res;
-5,000;N;Res;
-5,000]
Design (Style)
DT2;,Colonial
_|DT1.5:French
0]pT1.5:Bungalow]
0
1%] Guasty of Construction
4
[7
Q4
Actual Age
97
123
of71
of
I Condiion
C4
C3
-25,000/C3
25.000]
[5 Above Grade
Total [Bérms. | Baths | Tod
| Boms. | Baths
Tota |Bdms. | Bars
Total [Bens] Baths
B21 Room Count
el 311s] 2110
+5000]
6
|
3 [10
+5,000)
4 Gross Living Area
1,791 sqft
1,146 soft
+19,400]
981 seft
+24,300
suf
Mf Bascanet & Finished
896sf0sfin
0st
+4,000(785510sfin
of
Rooms Below Grade
Functional Uikty
3 Bedrooms
{2 Bedrooms
+1,000]3 Bedrooms
Heating/Cooling
FWA/None
FWAICAG
-3,500;FWA/None
fll
Eneegy Efficient tems
Typical
Typical
Typical
arage/Carpont
1gatdy
2q02dw
10,000] 19d idw
of
PorcivPatio/Deck
Deck,PehEnc_
|Parch/Deck
+4,000]Porch
+4,000)
Fiegplace
Fireplace
Fireplace
None
+3,000]
| Amenities.
None
None.
None
Detk Replacement
Yes
None.
~2,000{None.
2,000]
Hal A
(lots
:
:
+ [1-8
29000
B+
[J-
[8
19300
[1+
(J-
18
Adusted Sak Price
15%
Nets.
11.0%
Net Adj.
%
of Comparables
:
oss hg,
470%|8
202,900{6ross Adj.
47.6
%18
194,300] Gross Adj.
#8
Report the fesults of the fesearch and analysis Of the prof sas of tansier fistory
of the subject property and comparable sales {report addtional prior sales 00 page 3).
TIEN
SUBJECT
COMPARABLE SALE # 4
COMPARABLE SALE # 5
COMPARABLE SALE # §
Oats of Prior Sale/Transfer
IN} Price of Prior Sale/Fransier
FE] Data Sourcels)
Oakland County Records
|Qakland County Records
| Oakland County Records
Effective Date of Data Source(s}
04/25/2023
04/25/2023
04/25/2023
‘Analysis of prior sale or ranser history of the subject property and comparable sales
nals Comments
4 z
fi]
H
S SPage 12
Uniform Residential Appraisal Report
Fie # 1223241296
INTENDEO USE:
The use of an appraiser's reported appraisal of review assignment opinions and conclusions, as identified by the Appraiser based on
communication with the client at the time of the assignment. The intended use is 10 evaluate the propery that is he subject of this appraisat fora
| mortgage finance transaction, subject to the stated Scope of Work, purpose of the appraisal, reporting requirements of this appraisal report form
and definition of Market Value. No addilional intended users are identified by the appraiser.
INTENDED USER:
The client and any other party as identified by name or type,
as users of the appraisal of review report, by the appraiser based on communication
with the ciient al the time of the assignment, The intended user for this residential appraisal report is the clientlender. Any party other than the
client using
this report, val not,
as a consequence of coming into possession of a copy of this appraisal, become a party to the appraiser/client
relationship.
SCOPE OF THE APPRAISAL:
The scope of the assignments represents a Residential Appraisal Report. The subject property has been physically inspecied on the exterior and
interior in order to determine the physical characteristics of the properly. The Inspection of the subject property and any Improvements is for the
| purpose of determining fair market value of the property. An appraisal is not a home inspection. No liability is assumed for structural or
mechanical elements of the subject property. See limiting conditions attached. Comparable propariies have been researched and those
presented herein are considered the best indicators of value and have been inspected from the exterior. Adjustments have been made 1o all
value influencing factors and have been market derived unless otherwise slated.
"4 HIGHEST AND BEST USE:
The subject is a legally permissible use based on its current zoning, Also, the Jot size, shape and land-to-building ratio allow the present steucture
and indicate a good utilization of the improvements. Based on current market conditions, the existing structure as a single-unit residence is its
financially feasible and maximally productive use. The highest and best use, as if vacant, would be to construct a single-unit residence.
Therefore,
its currant use as a single-unit residence is considered to be ils highest and best use.
Appraisers are required to be licensed and are regulated by the Michigan Department of Labor and Economic Growth, P.O. Box 30018, Lansing,
Michigan 48909
Loa
.
'COST-APEROACH
TO VALUE (nol required by Fannie Ma
Provide adequate
for the lender/chent to replicate the below cost figures and calcifations
‘Support
for the opinion of ste value (summary of comparable land sales of other methods for estimating sie value}
Que to a lack of vacani land sales in the area,
the site value was determined by the allocation method. Site value exceeds 30% due to it's acreage site.
ESTIMATED
DQ REPRODUCTION OR
[} REPLACEMENT COST HEW
OPINION OF STTE VALUE
75,000
ry
Source of cost dala
dwedlingcost.com
DWELLING
1,791 eft. @$
231,866
hq
QuaRty rating from cost sevice
Avg
Etfective dale
of cost dala
4/27/2023
896 Saft @$
24,407
£4 Comments on Cost Approach {aross Fring area calculations, depreciation, ete.)
.
A The Cost Approach was considered; howaver, the subject's market is
GaragerCarpart
432 WL @$
51.61.
22,298
mostly built out with limited competition from new construction and
Total Estimate of Cost-New
_
278,369
marke! participants would not rely on building costs as a method of
Less
Physieal __ Jeuncional _ [Edernal
valuing a properly of the subject's age. The market dictates the Cost
Depreciation
115,996
115,996)
Approach is not necessary for credible assignment resufls.
Deprecated Cost of lmprovements
162,373
"As-1s” Vahie of Site improvements
1,600
Estimated Remaining Economic Life (HUD and VA only)
365 Years | INDICATED VALUE BY COST APPROACH.
238,973
Somme
INCOME
APPROACH TO VALUE {nol required by Fannie Mit)
a
:
£
r=
Estimated Monthly Market Rent §
X Gross Rent Muttipber
=$
Indicaled Value by Income Approach
Summary of incoma Agproach chiding suppor Tot marke ent and GR]
EEE
HERE
di
:
PROJECTINFORMATION FOR PUD {if applicable)
i
a
Is the developer/budder in control of Bre Homeowners’ Assocation (HOA)?
[]Yes
[No
Unttype(s)
[| Deteched
[TJ Attached
Provide the following information for PUDS ONLY i the devesaperduider is in control of the HOA and the subject progedy is an alached dwelng unit,
Legal Hame of Project
Total numbes of phases
‘Total number of nds
Total number of waits sid
23 Total number of urs tented
Total number of unis fof Sze
Data source(s)
3 Was the project created by the coneision of existing bulding(s) into a PUD?
[Yes
[
3MNo
If¥es, duteof
J Doss the project contain any snultdweling units?
[Yes
[No Data Sauce
Ave the un'ts, common elements, and recreation facisties complete?
[TJ Yes
{7] fo
k Ho, describe the status ofPage 13
Uniform Residential Appraisal Report
File # 1223241296
This
report
form
is
designed
to
report
an
appraisal
of
a
one-unit
property
or
a
one-unit
property
with
an
accessory
unit;
including
a
unit
in
a
planned
unit
development
(PUD).
This
report
form
is
not
designed
to
report
an
appraisal
of
a
manufactured
home
or
a
unit
in
a
condominium
or
cooperative
project.
This
appraisal
report
is
subject
to
the
following
scope
of
work,
intended
use,
Intended
user,
definifion
of
market
value,
statement
of
assumptions
and
limiting
conditions,
and
certifications.
Modifications,
additions,
or
delstions
to
the
Intended
use,
intended
user,
definition
of
market
value,
or
assumptions
and
limiting
conditions
are
not
permitted.
The
appraiser
may
expand
the
scope
of
work
to
include
any
additional
research
or
analysls
necessary
based
on
the
complexity
of
this
appraisal
assignment.
Modifications
or
deletions
to
the
certifications
ars
also
not
permitted,
However,
additional
certifications
that
do
not
constilute
materfal
alterations
to
{his
appraisal
report,
such
as
those
required
by
law
or
those
related
to
the
appraiser's
continuing
education
or
membership
in
an
appraisal
organization,
are
permitted.
SCOPE OF WORK:
The
scope
of
work
for
this
appraisal
is
defined
by
the
complexity
of
this
appralsal
assignment
and
the
reporting
requirements
of
this
appraisal
report
form,
Including
ihe
following
defintion
of
market
valve,
statement
of
assumptions
and
limiing
conditions,
and
certifications.
The
appraiser
must,
at
a
minimum:
(1)
perform
a
complete
visual
inspection
of
the
interior
and
exterior
areas
of
the
subject
property,
(2)
Inspecl
the
neighborhood,
(3)
inspect
each
of
the
comparable
sales
from
at
feast
the
steel,
(4)
research,
verify,
and
analyze
data
from
reliable
public
and/or
private
sources,
and
(5)
report
his
or
her
analysis,
opinions,
and
conclusions
in
this
appraisal
repord.
INTENDED USE:
The
infended
use
of
this
appraisal
report
is
for
the
lender/client
to
evaluate
the
property
that
is
the
subject
of
this
appraisal
for
a
mortgage
finance
transaction.
INTENDED USER:
The
intended
user
of
this
appraisal
report
is
the
lender/client,
DEFINITION OF MARKET VALUE:
~~ The
most
probable
price
which
a
property
should
bring
in
a
competiive
and
open
market
under
all
conditions
requisite
to
a
fair
sale,
the
buyer
and
seller,
each
acting
prudently,
knowledgeably
and
assuming
the
price
is
not
aifected
by
undue
stimulus.
tmplicit
in
this
definition
is
the consummation
of
a
sale
as
of
a
specified
date
and
the
passing
of
tile
from
selfer
to
buyer
under
conditions
whereby:
(1)
buyer
and
seller
are
typically
motivated;
(2)
both
parties
are
welt informed
or
well
advised,
and
each
acting
in
what
he
or
she
considers
his
or
her own
best
interest;
(3)
a
reasonable
time
is
allowed
for exposure
in
the
open
market;
(4)
payment
is
made
in
terms
of cash
in
U.
§.
dollars
or
in
terms
of
financial
arrangements
comparable
thereto;
and
(5)
the
price
represents
the
normal
consideration
for
the
property
sold
unaffected
by
special
or
creative
financing
or
sales
concessions*
granted
by
anyone
associated
with
the
sale,
“Adjustments
to
the
comparables
must
be
made
for
special
or
creative
financing
or
sales
concessions.
No
adjustments
are
necessary
for
those
costs
which
are
normally
paid
by
sellers
as
a
result
of
teadiion
or law
in
a
market
area;
these
cosis
are
readily
identifiable
since
the
seller
pays
these
costs
in
virually
all
sales
transactions.
Special
or
creative
financing
adjustments
can
be
made
to
the
comparable
property
by
comparisons
to
financing
terms
offered
by
a
third
parly
Institutional
fender
that
is
not
already
lavolved
in
the
property
or
transaction,
Any
adjustment
should
not
be
calculated
on
a
mechanical
dollar
for
doltar
cost
of
the
financing
or
concession
but
the
doltar
amount
of
any
adjustment
should
approximate
the
market's
reaction
to
the
financing
or
concessions
based
on
the
appraiser's
judgment.
STATEMENT
OF ASSUMPTIONS AND LIMITING CONDITIONS:
The
appraisers
cerlification
in
this
report
is
subject
fo
the
folfowing
assumptions
and
#miting
conditions:
1.
The
appraiser
will
not
be
responsible
for
matters
of
a
legal
nature
that
affect
eilher
ihe
property
being
appraised
or
the
tile
to
#,
excepl
for
information
that
he
or
she
became
aware
of
during
the
research
involved
in
performing
this
appraisal.
The
appraiser assumes
thal
the
filte
is
good
and
marketable
and
will
not
render
any
opinions
about
the
file,
2.
The
appraiser
has
provided
a
sketch
in
this
appraisal
report
lo
show
the
approximate
dimensions
of
the
improvements,
The
skelch
is
included
only
to
assist
the
reader
in
visualizing
the
property
and
understanding
the
appraiser's
determination
of its
size.
3.
The
appraiser
has
examined
the
available
flood
maps
thal
are
provided
by
the
Federal
Emergency
Management
Agency
(or
other
data
sources)
and
has
noted
in
this
appraisal
report
whether
any
portion
of
the
subject
site
Is
located
in
an
identitied
Special
Flood
Hazard
Area.
Because
the
appraiser
is
not
a
surveyor,
he
or
she
makes
no
guarantees,
express
or
implied,
regarding
this
determination.
4.
The
appraiser
wilt
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,
or
as
otherwise
required
by
law.
5.
The
appraiser
has
noted
In
this
appraisal
report
any
adverse
conditions
(such
as
needed
repairs,
deterioration,
the
presence
of
hazardous
wastes,
toxic
substances,
etc.)
observed
during
the
Inspection
of
the
subject
property
or
thal
he
or
she
became
aware
of
during
the
reseacch
involved
in
performing
the
appraisal.
Unless
otherwise
stated
in
this
appraisal
report,
the
appraiser
has
no
knowledge
of
any
hidden
or
unapparent
physical
deficiencles
or
adverse
conditions
of
the
property
{such
as,
but
nol
limited
to,
needed
repairs,
deterioration,
the
presence
of
hazardous
wastes,
toxic
substances,
adverse
environmental
conditions,
etc.)
that
would
make
the
property
less
valuable,
and
has
assumed
that
there
are
no
such
conditions
and
makes
ac
guarantees
or
warranties,
express
or
implied,
The
appraiser
will
not
be
responsible
for
any
such
conditions
that
do
exist
or
for
any
engineering
or
testing
that
might
be
required
lo
discover
whether
such
conditions
exist.
Because
the
appraiser
is
not
an
expert
in
the
field
of
environmental
hazards,
this
appraisal
report
must
not
be
considered
as
an
environmental
assessment
of
the
property.
6.
The
appraiser
has
based
Wis
or
her
appraisal
report
and
valuation
conclusion
for
an
appraisal
that
is
subject
to
satisfactory
completion,
repairs,
or
alterations
on
the
assumption
that
the
completion,
repairs,
or
alterations
of
the
subject
property
willPage 14
Uniform Residential Appraisal Report
Flle# 1223241296
APPRAISER'S CERTIFICATION:
~~ The Appraiser certifies and agrees that:
1.
t
have,
at
a
minimum,
developed
and
reported
this
appraisal
in
accordance
with
the
scope
of
work requirements
stated
in
this
appraisal
report.
2.
t
performed
a
complete
visual
inspection
of
the
interior
and
exterior
areas
of
the
subject
property.
¢
reported
the
condition
of
the
improvements
in
faclual,
specific
terms.
[
Identified
and
reported
the
physical
deficiencles
that
could
affect
the
livability,
soundmess,
ar
structural
integrity
of
the
property.
3.
|
pedformed
this
appraisal
in
accordance
with
the
requirements
of
the
Uniform
Standards
of
Professional
Appraisal
Practice
that
were
adopted
and
promulgated
by
the
Appraisal
Standards
Goard
of
The
Appraisal
Foundation
and
that
were
in
place
at
the
time
this
appraisal
report
was
prepared.
4.
|
developed
my
opimion
of
the
market
value
of
the
rea)
property
that
is
the
subject
of
this
report
based
on
the
sales
comparison
approach
to
value,
|
have
adequate
comparable
market
data
to
develop
a
reflable
sales
comparison
approach
for
this
appraisal
assignment.
|
futher
certify
that
1
considered
the
cost
and
income
approaches
to
value
but
did
not
develop
them,
unless
otherwise
Indicated
in
this
repost.
5.
1
researched,
verified,
analyzed,
and
reported
on
any
current
agreement
for
sale
for
the
subject
property,
any
offering
for
sale
of
the
subject
property
in
the
twelve
months
prior
to
the
effective
date
of
thls
appraisal,
and
the
prior
sales
of
the
subject
properly
for
a
minimum
of
three
years
prior
to
the
efieclive
date
of
this
appraisal,
unless
otherwise
indicated
In
this
report,
6.
|
researched,
verilied,
analyzed,
and
reported
on
the
prior
sales
of
the
comparable
sales
for
a minimum
of
one
year
prior
to
the
date
of
sale
of
the
comparable
sale,
unless
olherwise
indicated
in
this
report.
7.
|
selected
and used comparable
sales
that
are
locationally,
physically,
and
functionally
the most similar
to
the subject property.
8.
[ have
not used comparable sales
that were
the result
of combining
a land
sale with the contract purchase
price
of
a home
that
has been built or will be built on the fand.
8.
§
have
reported
adjustments
to
the
comparable
sales
thal
reflect
the
market's
reaction
to
the
differences
between
the
subject
property
and
the
comparable
sales.
10.
|
verified,
fram
a disinterested
source,
all Information
in
this
report
that was provided
by parties who have
a financial interest
in
the
sale
or
financing
of
the
subject
property.
11.
|
have
knowledge
and
experience
in
appraising
this
type
of
property
In
thls
market
area
12.
1
am aware
of,
and
have
access
to,
the necessary
and
appropriate
public
and
private
data sources,
such
as
multiple
fisting
services,
tax
assessment
records,
public
land
records
and
other such
data
sources
for
the
area
in which
the
property
is
localed.
13.
|
obtained
the
information,
estimates,
and
opinions
furnished
by
other
parties
and
expressed
in
this
appraisal
report
from
reliable
sources
that
|
believe
lo
be
tue
and
comect.
14,
|
have
taken
into
consideration
the
factors
that
have
an
impact
on
value
with
respect
to
the
subject
neighborhood,
subject
property,
and
the
proximity
of
the
subject
property
lo
adverse
influences
in
the
development
of
my
opinion
of
market
value,
{
have
noted
In
this
appraisal
report
any
adverse
conditions
(such
as,
but
not
limited
to,
needed
repairs,
deterioration,
the
presence
of
hazardous
wastes,
toxic
substances,
adverse
environmental
conditions,
etc.)
observed
during
the
inspection
of
the
subject
property
or
that
[
became
aware
of
during
the
ressarch
Involved
in
performing
this
appraisal.
|
have
considered
these
adverse
conditions
In my
analysis
of
the
property value,
and
have
reported
on
the
effect
of the conditions
on
the
valve
and
marketability
of
the
subject
property.
15.
|
have
nol
knowingly
withheld
any
significant
information
from
this
appraisal
report
and,
to
the
best
of
my
knowledge,
all
statements
and
[formation
in
this
appraisal
report
are
true
and
correct.
16.
|
staled
in
this
appraisal
report
my
own
personal,
unbiased,
and
professional
analysis,
opinions,
and
conclusions,
which
are
subject only
lo
the assumptions
and
hmiting
conditions
in
this
appraisal
report.
17.
1
have
no present
of prospective
interest
in
the
properly that
is
the subject
of
this report, and
| have
no present
or
prospective
personal
interest
or
bias
with
respect
to
the
participants
in
the
transaction.
1
did
not
base,
either
partlafly
or
completely,
my
analysis
and/or
opinion
of
markel
value
in
this
appraisal
report
on
the
race,
color,
religion,
sex,
age,
marital
status,
handicap,
familial
status,
or
national
origin
of
either
the
prospective
owners
or occupants
of
the
subject
property
or
of
ihe
present owners
or occupants
of
the
properties
in
the
vicinity
of
the
subject propery
or on
any other basis
prohibited
by
law,
18.
My
employment
and/or
compensation
for
performing
this
appraisal
or
any
future
or
anticipated
appraisals
was
not
conditioned
on
any
agreement
or
understanding,
written
or
otherwise,
that
1
would
report
{or
present
analysis
supporting)
a
predetermined
specific
value,
a
predetermined
minimum
value,
a
range
or
direction
in
value,
a
value
that
favors
the
cause
of
any
party,
or
Wie
attaiment
of
a
specific
result
or occurrence
of
a
specific
subsequent
event
(such
as
approval
of
a
pending
mortgage
fean
application).
19.
|
personally
prepared
all
conclusions
and
opinions
about
the
real
estate
that
were
sel
forth
in
ibis
appraisal
report.
H
i
relied
on
significant
real
property
appraisal
assistance
from
any
individual
or
individuals
in
the
performance
of
this
appraisal
or
the
preparation
of
this
appraisal
report,
|
have
named
such
individual(s)
and
disclosed
the
specific
tasks
performed
in
this
appraisal
report.
|
cerlify
that
any
Individual
so
named
is
qualitied
to
perform
the
tasks.
|
have
not
authorized
anyone
to
make
a
change
to
any
item
in
this
appraisal
report;
therefore,
any
change
made
to
this
appraisal
Is
unauthorized
and
|
will
take
noPage 15
Uniform Residential Appraisal Report
File # 1223241296
21.
The
[ender/client
may
disclose
or
distribute
this
appraisal
report
to:
the
borrower.
another
lender
at
the
request
of
the
borrower,
the
mortgagee
or
its
successors
and
assigns;
morgage
insurers;
government
sponsored
enterprises;
other
secondary
markel
participants;
data
collection
or
reporting
services;
professional
appraisal
organizations;
any
department,
agency,
or
instrumentality
of
the
United
States:
and
any
state,
the
District
of
Columbla,
or
other
|urisdictions;
without
having
to
obtain
the
appraiser's
or
supervisory
appraiser's
(if
applicable)
consent.
Such
consent
must
be
obtained
before
this
appraisal
report
may
be disclosed
or
distributed
to
any
other pay
(including,
but
not
limited
to,
the
public
through
adverlising,
public
relations,
news,
sales,
or
other
media).
22.
©
am
aware
that
any
disclosure
or distribution
of
this
appraisal
report
by me
or
the
lender/client
may
be
subject
to
certain
flaws
and
regulations,
Further,
{
am
also
subject
fo
the
provisions
of
the
Uniform
Standards
of
Professlonal
Appraisal
Practice
thal
pertain
to
disclosure
or
distribution
by
me.
23.
The
bomower,
another
lender
at
the
request
of
the
borrower,
the
morigagee
or
its
successors
and
assigns,
merigage
insurers,
government
sponsored
enterprises,
and
other
secondary
marke!
participants
may
rely
on
this
appraisal
report
as
part
of
any morigage
finance
transaction
lhat involves
any
one
or more
of
these
parties.
24.
i
this
appraisal
report
was
transmitted
as
an
“electronic
record
containing
my
“electronic
signature,®
as
those
terms
are
defined
in
applicable
federal
and/or
stale
faws
(excluding
audlo
and
video
recordings),
or
a
facsimile
transmission
of
this
appraisal
report
containing
a
copy
or
representation
of
my
signature,
the
appraisal
report
shall
be
as
effective,
enforceable
and
valid
as
if
a
paper
version
of
this
appraisal
report
were
delivered
containing
my
original
hand
written
signature.
25.
Any
intentional
or
negligent
isrepresentation{s}
contained
in
this
appraisal
report
may
result
in
civil
fability
and/or
criminal
penalties
including,
but
not
Hmited
to,
fine
or
Imprisonment
or
both
under
the
provisions
of
Title
18,
United
States
Code,
Section
1001,
et
seq,
or
similar
state
laws.
SUPERVISORY APPRAISER'S CERTIFICATION:
~~ The
Supervisory
Appraiser
cedifies
and
agrees
thal:
1.
|
directly supervised
the
appralser
for
this
appralsal
assignment,
have
read
the
appraisal
report,
and
agree
with
the appraisers
analysis,
opinions,
statements,
conclusions,
and
the
appraiser's
cenification.
2.
1 accep!
full
responsibility
for the
contents
of
this
appraisal
report
including,
but
not limited
fo,
the
appraiser's
analysis,
opinions,
statements,
conclusions,
and
the
appraiser's
cerlification,
3.
Tne
appraiser
identified
in
this
appraisal
report
is
either
a
sub-contractor
or
an employee
of
the
supervisory
appralser
{or
the
appraisal
firm),
Is
qualified
to
perform
this
appraisal,
and
Is acceptable
to
perform
this
appraisal
under
the
applicable
slate
law.
4,
This
appraisal
report
complies
with
the
Uniform
Standards
of
Professional
Appraisal
Practice
that
were
adopted
and
promulgated
by
the
Appraisal
Standards
Board
of
The
Appraisal
Foundation
and
that
were
in
place
at
the
time
thls
appraisal
report
was
prepared.
5.
If
this
appraisal
report
was
transmitted
as
an
“electronic
record*
containing
my
“electronic
signature
as
those
terms
are
defined
in
applicable
federal
and/or
state
laws
(excluding
audio
and
video
recordings),
or
a
facsimile
transmission
of
this
appraisal
report
containing
a
copy
or
representation
of
my
signature,
the
appraisal
report
shall
be
as
effective,
enforceable
and
valid
as
i
a
paper
version
of
this
appraisal
report
were
delivered
containing
my
original
hand
written
signature.
APPRAISER
Pp
;
.
SUPERVISORY APPRAISER (ONLY IF REQUIRED)
>
Signature
is Sands
Signature
Name
LYNDA BRINKER
Name
Company Name
Class Valuation
Company Name
Company Address
2845 RAVENGLASS
Company Address
WATERFORD, Mi 48329
Telephone Number
(248) 855-9580
Telephone Number
Email Address
~~ SA@classvalualion.com
Email Address
Date of Signature and Report
04/27/2023
—
Date of Signature
Effective Date of Appraisal
4125/2023
Stats Certification #
State Certitication #
1204000832
or State License #
or Stale License #
State
or Other (describe)
State #
Expiration Date of Cerlification or License
State
Mi
Expiration Date of Certification or License
9131/2023
SUBJECT PROPERTY
ADDRESS OF PROPERTY APPRAISED
[J Did not inspect subject property
6204 Grange Hall Rd
[7] Did Inspect exterior of subject property from street
Holly, Mi 48442
Date of Inspection
APPRAISED VALUE OF SUBJECT PROPERTY §
214,000
[J Did Inspect interior and exterior of subject property
LENDER/CLIENT
Date of Inspection
Name
Class Valuation
COMPARABLE SALES
Company Name
United Wholesale Mortgage, LLCPage 16
Subject Photo Page Bofrover Estelle Wittbrodi Property Address 6204 Grange Hall Rd iy Holly Counly_Oakland State MI TpCode 48442 Lender/Client United Wholesale Mortgage, LLC Subject Front 6204 Grange Hall Rd Sales Price 211,000 Gross Living Area 1,791 Tota Rooms 8 Total Bedrooms 3 Total Bathrooms 1.1 Location NiRes; View ACtyStr; Site 6.34 ac QuaRty Q4 Age 97 Subject Rear Subject Street
Page 17
Gomparahle Photo Page Boner Estelle Wittbrodt Property Address 6204 Grange Hall Rd Holly County Qaktand State Mi ZpCods 48442 LenderiClient United Wholesale Mortgage, LLC Comparable 1 $5526 Lahring Rd Prox. 1a Subject 2.17 miles N Sales Price 175,000 Gross ving Area 1,120 Total Rooms Total Bedrooms Tota! Bathooms Location Comparable 2 1140 Grange Hall Rd Prox. to Subject 5.23 mites W Sales Price 220.000 Gross Living Area 835 Total Rooms. 5 Total Bedrooms 2 Total Baitvooms 1.0 Location N;Res; View ACtyStr; Site 38333 sf Qualty Q4 Age 74 Comparable 3 720 E Sherman St Peox. to Subject 2.38 miles SW Sales Price 300,000 Gross Living Area 2,068 Total Rooms 8 Total Bediooms 4 Total Bathrooms 11 Location NiRes; View N;Res; Site: 3.83ac Quality Q4 Age 97
Page 18
Comiparahie Photo Page Borrower Estelle Wittorodt Property Address 6204 Grange Hall Rd Oy. Holly. County Oakland Stale MIE ZipCode 48442 LendeClient United Wholesale Mortgage, LEC Comparable 4 418 Thomas St Prox. to Subject 2.31 miles SW Sales Price Gross Living Area Total Rooms. Total Bedrooms Total Batfwooms Location Comparable 5 2400 Academy Rd Prox. to Subect 3.93 miles SW Sales Price 175,000 Gross Living Area 981 Total Rooms. 6 Total Bedrooms 3 Total Bathrooms 1.0 Location N;Res; View N;Res; Site 1.00 ac Quality a4 Age 7 Comparable 6 Prox. to Subject Sales Price Gross Living Area Total Rooms. Total Bedrooms Total Bathrooms Location View Site Quality Age
Page 19
Phetograph Addendum Borrower Estelle Wittbrodt Peopery Address 6204 Grange Hall Rd City. Holly. County_QOaktand State pdt Tplode 48442 LendeClient United Wholesale Morlgage, LLC Street Side Side
Page 20
Photograph Addendum Bomower Estelle Wittbrodt Propedy Address 6204 Grange Hall Rd Gy Holly County_Oakland State Mi DpGode 48442 Lender/Client United Wholesale Mortgage, LLC. Living Dining
Page 21
Photograph Addendum Borrower Estelle Wittbrodt Peopeity Address 6204 Grange Halt Rd City Holly County Oakland Sule MI TpCode 48442 Lender/Client United Wholesale Mortgage, LEC Bedroom Bath Bedroom Bedroom
Page 22
Photograph Addendum Borrower Estelle Wittbrodt Property Address 6204 Grange Hall Rd Cy. Holly Couly_Oaklang Stel Tp Code 4442 Lender/Cient United Wholesale Mortgage LLC Furnace leaking from pump Laundry Unsecured door Garage
Page 23
Supplemental Addendum Fis No. 1223241296 SBoriower Estelio Wittbrodt Progerly Address 6204 Grange Hall Rd City Holly. Coty Oakland State Ml Tp Code 48442 LenderjChent United Wholesale Mortgage, LLC | HAVE NOT PERFORMED SERVICES, AS AN APPRAISER OR [N ANY OTHER CAPACITY, REGARDING THE PROPERTY THAT IS THE SUBJECT OF THE WORK UNDER REVIEW, WITHIN THE THREE YEAR PERIOD IMMEDIATELY PRECEDING ACCEPTANCE OF THIS ASSIGMENT. Finished square footage calculations for this house were made based on measured dimensions only and may includes unfinished areas, openings in floors nol associated with stairs, or openings In floors exceeding the area of associated stairs. GLA was measured using ANS| 2765-2021 STANDARD, « URAR: Legal Description TSN, R7E, SEC 24 & 25 PART OF SW 1/4 OF SEC 24 & PART OF NW 1/4 OF SEC 25 ALL BEING DESC AS BEG AT PT DIST § 00-17-30 W 574.21 FT & W 354.37 FT FROM N 1/4 COR OF SEC 25, THW 971,74 FT, TH N 00-17-30 E 73.27 FT, TH N 81-33-00 E 525 FT, TH N 00-17-30 E 453,33 FT, TH N 81-33-00 £ 308.15 FT, TH S 00-17-30 W 462.97 FT, THE 148.26 FT, TH S 00-17-30 W 186 FT TO BEG 6.34 A 8-3-01 FR 012
Page 24
Building Sketch Borsower Estelle Witlbrodt Property Address 6704 Grange Halt Rd City Holy County Oakland Stale pat Zp Code 48442 Lender/Client United Wholesale Morigage, LLC. 2.0 [3 32.1 w . 2 Basement 3 Katcher Dining « [895.59 5.1] * 31 Car Attached § M2590] %¥ closed Porch 4 4325010 12] path (hay Fist Floor H (895.59 S91) 1 T © Ling 32:4 Entrance nr Loit Bh edroom w Open Porch “+ 224.7 51) 4 N EXY 2 Second Floor 3 “ [895.59 Sa ft) 3 Bedroom Bedroom ar JOT Bah by varie ve. Area Calculations Summaty Aiving Arad EEE EE : ERE = ahaa First Flose 85595qR BIK2I = 595.59 895595qR 29x30 = 85.59 179159 ft } x18 ansqf 27590 32ix7 = 247 2h xis = 42
Page 25
Location Map Borrower Estelle Witlbrodt Properly Address 6204 Grange Hall Rd Cy Holly Covaly_ Oakland State Ml ZpCode 48442 Lender/Cent United Wholesale Morigage, LLC a lamode, inc! } COMPARABLE No. 1 FE — > §204.Grange Hall Rd Holly, M) 48442 COMPARABLE No.3 =. : : 720 £ Sherman St COMPARABLE No, 2 sn : : Ey Masasy 1140 Grange Hall Rd : : i : 2:38.1lle5 SW. Fenton, MI 48430. NE ; - = ] 5,23 miles COMPARABLE No. 5 2400 Acadeiny Rd Holly, Hi 48442 2,93;
Page 26
Location Map Borrower Estelle Wittbrodt Property Address 6204 Grange Hall Rd [5] Holly Coury Oakland Sute pi Tp Cote 48442 Lender/Gient United Wholesale Morigage, LLC SUBJECT 6204 Gringe Hall Rd Holly, MT 48942
Page 27
Borrawes
Estelle Wittorodt
Fis No. 1223241296
Property Address
6204 Grange Hall Rd
City
Hally
County Oakland
Stale MI
Tp Code 48442
Lender/Chient
United Wholesale Mortgage, LLC
APPRAISAL AND REPORT IDENTIFICATION
This Report is one of the foltowing types:
5X Appraisal Report
{A waitien report prepared under Standards Rule
2-2(3)
. pursuant to the Scope of Work, as disclosed elsewhere in this report)
[nl] Resirigled
{A written report prepared under Standards Rufe
2.2(b)
, pursuant to the Scope of Work, as disclosed elsewhere in this report,
Appraisal Report
restricted to the slated intended use by the specified client or intended user.)
Gomments on Standards Rule 2-3
certify that, to the best of my knowledge and belief:
~ The statements of fact contained in this report ase true and correct.
- The reported analyses, opinions, and conclusions are Frmited only by the ceported assumptions and fimiting conditions and are my personal, impartial, and unbiased professional
analyses, opinions. and conclusions.
- Unless otherwise indicated,
E have no present or prospective interest in the property tat is the subject of this report and no personal intesest with tespect 10 the pasties involved.
~ Unless otherwise indicated, [ have perdormed no services, as an appraiser or in any other capacity, regarding the propery that is the subject of this cepost within the threa-year
period immediately preceding acceptance of this assignment.
~ Ihave no blas with respect to the property that is the subject of this repart or the partes involved with this assignment.
~ My engagement in this assignment was not contingent upon developing or reporting predetermined tesulls.
- Wy compensation for completing this
is not
contingent
upon the
of reporting of a predeternvined value or direction in valua that favors the cause of he
cient, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly refaled to the intended use of this appraisal.
- My analyses, opinions, and conclusions were developed, and his yeport has been prepared, in conformity with the Uniform Standards of Professlonal Appraisal Practice that
were in effect at the time this report was prepared.
- Uniess otherwise indicated, | have made a personal inspection of the property that is the subject of this report.
~ Unless otherwise indicated, no one provided significant seat property appraisal assistance to the persen(s) signing this certification (f there are exceptions, the name of each
individual providing significant reat property appraisal assistance is stated elsewhere In this report).
Reasonable Exposure Time
{USPAP defines Exposure Time as the estimated length of time that the property interest being
appraised would have been offered on the market prior to the hypothetical consummation of a sale al market value on the effective date of the appraisal.)
My Opinion of Reasonable Exposure Time for the subject property at the market value stated in this report is:
defined in USPAP Is the estimated tengih of time thal a property interest being appraised would have bean offered on the marke! prior to he
hypothetical consummation of a sale at market value on the effective date of the appraisal. Exposure time Is a retrospective opinion based on
an analysis of past avents assuming a competitive market. Reasonable exposure time for the subect property is estimated at 60-120 days,
assuming a competent markeling effect at a list price not to exceed 110% of market value.
Comments on Appraisal and Report Identification
Note any USPAP-related issues requiring disclosure and any state mandated requirements:
APPRAISER:
SUPERVISORY or CO-APPRAISER (If applicable):
JP AVR
Signature:
Signature:
tame:
LYNDA BRINKER
Name:Page 28
FleNo.
1223241296
UNIFORM APPRAISAL DATASET (UAD) DEFINITIONS ADDENDUM
{Source: Fannie Mae UAD Appendix D: VAD Field-Specific Standardization Requirements)
Condition Ratings and Definitions
Gt
The improvements have been very recently canstructed and have nat previously been occupied. The entire structure and afl components arg new
and the dwelling features no physical depreciation. *
*Note: Newly constructed improvements that feature recycfed materials and/or components can be considered new dwellings provided that the
dwelling is placed on a 100% new foundation and the recycled materials and the recycled components have been rehabilitated/re-manufactured
into like-new condition, Recently constructed improvements that have not been previously occupied are not considered “new” if they have any
significant physical depreciation (i.e., newly constructed dwellings that have been vacant for an extended period of time without adequate
maintenance or upkeep).
cz
The improvements feature no defered maintenance, little or no physical depreciation, and require no repalrs. Virually all building components
are naw or have been recently repaired, refinished, or rehabilitated. Alf outdated components and finishes have been updated and/or replaced
with cormpanents that meet current standasos. Dwellings In this category either are almost new or have been recenily completely renovated and
are similar in candition to new construction.
3
The improvements are well mainlained and feature Himitad physical depreciation due to normal wear and tear. Some components, but not every
major building component, may be updated or recently rehabilitated. The structure has been well maintained.
C4
The improvements feature some minor deferred maintenance and physical deterioration due to normal wear and lear, The dwelling has been
adequately maintained and requires enly minimal repairs to building compenenis/mechanical systems and cosmetic repairs. All major building
components have heen adequately maintained and are functionally adequate.
cs
The improvements feature obvious deferred maintenance and are in need of some significant repairs. Same building components need repairs,
rehabilitation, or updating. The functional Liitity and overall livability is somewhat diminished due to condition, but the dwelling remains
useabls and functional as a residence.
ce
The improvements have substantial damage or deferred maintenance with deficiencies or defects that are severe enough to affect the safety,
soundnass, or structural integrity of the improvements. The improvements are in need of substantial repairs and rehabilitation, including many
or mast major components,
Quality Ratings and Definitions
at
Dviellings wilh this quality rating are usually unique structures that are individually designed by an architect for a specified user. Such
residences typically are constructed from detailed architeclural plans and specifications and feature an exceptionally high level of workmanship
and exceptionally high-grade materials throughout the interior and exterior of the structure. The design features exceptionally high-quality
exterior refinements and ornamentation, and exceptionally high-quality interior refinements, The workmanship, materials, and finishes
throughout the dwelling are of exceptionally high quality.
a2
Dwellings with this quality rating are often custom designed for construction on an individual property owner's site. However, dwellings in
this quality grade are alse found in high-quality tract developments featuring residence constructed from individual plans or from highly
modified or upgraded plans. The design features detailed, high quality exterior ornamentation, high-quality interior refinements, and detail. The
workmanship, materials, and finishes throughout the dwelling are generally of high or very high quality.
a3
Dwellings with this quality rating are residences of higher quality built from individual of readily available designer plans in above-standard
residential tract developments or on an individual property owner's site. The design inciudes significant exterior emamentation and interiors
that are well finished, The workmanship exceeds acceptable standards and many materials and finishes throughout the dwelling have been
upgraded from “stock” standards.
a4
Dwellings with this quality rating meet or exceed the requirements of applicable building cades. Standard or modified standard building plans
are utilized and the design includes adequate fenestration and some exterior ornamentation and interior refinements, Materials, workmanship,
finish, and equipment are of stock or builder grade and may feature some upgrades.Page 29
UNIFORM APPRAISAL DATASET (UAD) DEFINITIONS ADDENDUM
(Source: Fannie Mae UAD Appendix : UAD Field-Specific Standardization Requirements)
Quality Ratings and Definitions continued)
as
Dwellings with this quality rating feature economy of construction and basle functionality as main considerations. Such dwellings feature a
plain design using readily available or basic flaor plans featuring minimal fenestration and basic finishes with minimal exterior omamentation
and imited interior detall. These dwellings meet minimum building codes and are canstructed with inexpensive, stock materials
with limited retinements and upgrades.
[+3
Dwellings with this quality rating are of basic quality and lower cost; some may not be suitable for year-round occupancy. Such dwellings
are aften bulk with simple plans or without plans, often utilizing the lowest quality building materials. Such dwellings are often built or
expanded by persons who are professionally unskilied or possess only minlmal construction skills. Electrical, plumbing, and other mechanical
systems and equipment may be minimal or non-existent. Older dwellings may feature one or more substandard or non-conforming additions
to the original structure
Definitions of Not Updated, Updated, and Remodeled
Not Updated
Litile or no updating or modernization. This description includes, buts not limited to, new homes.
Residential properties of fifteen years of age or less often reflect an original condition with no updating, if no major
components have been replaced or updated. Those over fifteen years ol age are also considered not updated if the
appliances, fixtures, and finishes are predominantly dated. An area that Is "Not Updated" may still be well maintained
and fully functional, and this rating does not necessarify imply deferred maintenance or physical/ffunctional deterioration.
Updated
The area of the home has been modified to meet current market expectations. These moditications
are limited in terms of both scope and cost.
An updated area of the home should have an improved look and feel, or functional utility. Changes that constitute
updates include refurbishment and/or replacing components to meet existing market expectations. Updates do not
include significant alterations to the existing structure,
Remodeled
Significant finish and/or structural changes have been made that increase utility and appeal through
‘complete replacement and/or expansion.
A remodeled area reflects fundamental changes that include multiple allerations. These alterations may include
some or all of the following: replacement of a major component (cabinet(s), bathtub, ar bathroom tile), relocation
of plumbing/gas fixtures/appliances, significant strscturat alterations {relocating walls, and/or the addition of)
square footage). This would include a complete gutting and rebuild.
Explanation of Bathroom Count
Three-quarter baths are counted as a full bath in all cases. Quarter baths (baths that feature only a toilst} are not
included in the bathroom count. The number of full and half baths is reported by separating the two values using a
period, where the full bath counts represented to the left of the period and the half bath count is represented to the
right of the period.
Example;
3.2 indicates three full baths and two half baths.Page 30
UNIFORM APPRAISAL DATASET (UAD) DEFINITIONS ADDENDUM (Source: Fannie Mae UAD Appendix 0: UAD Fietd-Spacific Standardization Requirements) Abbreviations Used in Data Standardization Text ac Acres i Area, Site AdjPrk Adjacent to Park Location AdjPwr Adjacent to Power Lines Lacation A Adverse Location & View AmmLth Asms Length Sale Safe or Financing Concessions ba Bathroom(s) Basement & Finished Rooms Below Grade br Bedroom Basement & Finished Rooms Below Grade B Beneficial Location & View Cash Cash Sale or Financing Concessions CtySky City View Skyline View View ) CtyStr City Strest View View Comm Commercial Influence Location c Conlracted Date Date of Sale/Time Conv Conventional Sale of Financing Con CrtOrd Court Ordered Sale Sale or Financing Concessions DOM Days On Market Data Sources [3 Expiration Date Date of Sale/Time Estate Estate Sale Sale or Financing Gencessions FHA Federal Housing Authority Sale of Financing Concessions. GlfCse Golf Course Location i Glfvw Golf Course View View tnd Industral Location & View in Interior Only Stairs Basement & Finished Rooms Below Grade Lndll Landfill Location LidSght Limited Sight View Listing Listing Sale or Financing Concessions Min Mountain View View N Neutral Location & View NosArm Non-Arms Length Sale Sale or Financing Concesslons BsyRd Busy Road Localion ] Other Basement & Finished Rooms Below Grade Pek Park View View Pstit Pastoral View View Pwita Power Lines View PubTin Public Transportation Location " Recreational (Rec) Room Basement & Finished Rooms Below Grade Relo Relocation Sate Sale or Financing Concessions REO REQ Sale Sale of Financing Concessions. Res Residential Location & View RH USDA - Rural Housing Sale or Financing Concessions s Settiernent Date Date of Sale/Time Short Short Sale Sale or Financing Concessions sf Square Fest Area, Site, Basement gM Square Meters Area, Site Unk Unknown Date of Sale/Time VA Veterans Administration Sale or Financing Concessions Ww Withdrawn Date Date of Sale/Time wo Walk Out Basement Basement & Finished Rooms Below Grade wu Walk Up Basement Basement & Finished Rooms Below Grade WuFr Waler Frontage Location ’ Wir Water View View Vioods Woads View View Other Appraiser-Detined Abbrevialions Abbreviation fs “Full Name: © Fields Whore This Abbreviation May Appear
Page 31
License x SR STATE OF MICHIGAN PB55202 ¢ ORETCHEN WHITHER GoVERNQR DEPARTMENT OF LICENSING ‘AND REGULATORY AFFAIRS BUREAU OF. PROFESSIONAL LICENSING CERTIFIED RESIDENTIAL APPRAISER SLU TEERSE LYNDA LEE BRINKER $5 SR S43 BE 2 = ; RT
Page 32
E & 0 Insurance
°
CATE (MMDITYYY)
ACORDS
CERTIFICATE OF LIABILITY INSURANCE
0.0 |
orisinoms
THIS CERTIFICATE 1S ISSUED AS A MATTER OF INFORMATION ONLY AKD CONFERS NO RIGHTS UPON YHE CERTIFICATE HOLDER, THIS
CERTIFICATE DOES NOT AFFRIMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES
BELOW.
THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED
REPRESENYATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER,
IMPORTANT;
If the carlfiicate holdsf Is an ADDITONAL INSURED, fha policy{les) must have ADDITIONAL INSURED provisions or be ondorssd.
H SUBROGATION 1S WAIVED, subject 10 the terms and conditions of the poticy, certain
may require an
on
thls corlficate doe not confar rights 10 the certificate hotdor In leu of such endotsement(s).
FRonuEER Locktoo Complies
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COVERAGES
CERTIFICATE NURBER:
18901552
REVISION NUMBER:
XXXXXXX
THIS 1S TO CERTIFY THAT THE POLICIES OF INSURANCE USTED BELOW HAVE BEEN [SSUED TO THE INSURED NAMED ABQVE FOR THE POLICY PERIOD
INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRAGT OR OTHER DOCUMENT WATH RESPECT YO WHICH THIS
CEATIFICATE MAY 8F ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIE DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS,
EXCLUSIONS AND CONDITIONS
OF SUCH POLICIES. LIWTS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS.
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DESCRETION OF OPERATIONS / LOCATIONS { VEHICLES (ACORD $51, Additions! Pemiarks Scheid, snay
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CERTIFICATE HOLDER
CANCELLATION
18801552
Evidence of Insurance
SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE.
THE
EXPIRAYION
DATE THEREOF,
NOTICE WiLL
BE
DELIVERED
IN
ACCORDANCE WITH THE POLICY PROVISIONS.
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( dy. 0 A)
2016 ACORD CORPORATION. Al ights reserved.
ACORD 25 (2016/03)
“The ACORD name and loge are registered marks of ACORD
IPage 33
From: Estelle (\Htocodd J kd. Ready[Jost Document Mailer U.S. POSTAGE PAID FCM LG ENV I HOLLY, MI 48442 Retail mirep stares OSTAL SERVICES. uy E JUL 31, 2025 48909 $3.00 $2324N506383-07 RDC 99 To: Michio a ax un) Po Ro 0287. Landing AML A3909 Ege yg eo dy