Flores.pdf

Camella Flores, Petitioner V Township Of Southfield, Respondent · 25-003722-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

R¥CEIVED

SEP.2 2 2025

STATE OF MICHIGAN

MICHIGAN TAX TRIBUNAL

GRETCHEN WHITMER

DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS

MARLON I. 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 default.

Section 1: Petitioner’s Contact information

First Name,

M.A

Last Name/Company Name

Loma

hres

Malling

dress {No., Street, P.9. Box or Rural Route)

“S007

mpfr J

s it

ZIP

Cod

y or

Tow

;

ode

—

vee

tg AHN

SFo5S

Telephone

bey.

"IY So F005

E-mail Address (do not

amnless

you want MTT to send all correspondence via e-mail)

Carpe Aor SE at Fn)

Section 2: Petitioner’s Attorney/Authorized Representative’s Contact Information

First Name

ML.

Last Name...

7 ZL

Choc ols

Firm Name-

tif

any)

”

po we

+ were 4

Mailing

Address (No. Street, P.O.

Box or Rural Route)

£7 S7.

St:

ZIP

Cod

Town

ode

edt

ANZ

Telephone

Number

Cs 779 M00

4 As

Email Addregs (do not enter unless you want MTT to se

d all correspondence via email)

(7 Velen, jaico Ls(0 shazryers. co

Section 3: Subject Property Information

How many

If you are appealing more than one parcel, are they contiguous or adjoining?

parcels areyou | [7] yest

No**

appealing?

*If yes, use a multiple parcel form for information regarding any contiguous parcels.

**If no, you must file separate appeals for each non-contiguous or non-adjoining parcel or you will be defaulted.

Property Address (No., §

t, City, ST, ZIP)

[If muitiple, list first property’s address)

1799

II70700

Page 2

STATE OF MICHIGAN 

GRETCHEN WHITMER 

DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS 

MARLON I. BROWN, DPA 

GOVERNOR 

LANSING 

DIRECTOR 

Section 4: Issues Being Appealed (check all that apply) 

D-free Cash and Taxable Value 

[7 Poverty Exemption 

[J Taxable Value Only (calcutation) 

{1 Disabled Veterans Exemption 

0 Uncapping of Taxable Value 

[J 

Eligible Manufacturing Personal Property (ESA) 

/ 

[3 Exemption from Taxation (other than the denial of a 

[1 Classification 

Principal Residence or Qualified Agricultural Exemption) 

Section 5: Explain the Reason for this Appeal 

Wy frame pias sgpronsed 

Se 

J HVE Whe porhased 

5% (orl 

HOY. He fodse So bee pecosced 

Se BIBI whit 120 pple 

wry Gemels Sores 

Joprde 

tbl f PAZ Te fon AT rE 

phe 

oso 18 DECAISE of ohest HOPES 

Za oe 

oe Dre) ROE, pA Vs A on) ae) HA Aor Sr 

Lor 

Some #5 be pssessed Sook wore Kl m0 a rpif 

i 

ge 

: 

oy 

PS Seri red 

TH Secsuce oY 

Loe fone 

. 

iy #3 yz 

Frrbedeil 27 Fok pecadse 7 42S 

USF fees pd Ped swice 1H pls Los fi Also 7 Y fore 

g 

FP 

ROC 

J DASEIET 

225 JI77G 

CF Fee Josie 

sR 5 $930 

ons! Sos 

sb So »2, pes? 

% 

Year(s) ypu are a pealing: _ 

AR], 035 

Did you protest the assessment at a Board of Review (BOR)? [I] Yes 

J No 

If Yes, check which BOR you attended AND attach the BOR decision: [l] March 

|] July 

[i] December 

If Na, check the applicable reason(s): 

[Hl] Not required to attend 

[ll] Assessment Change Notice was not received by Petitioner 

0 Appealing a purported Clerical Error or Mutual Mistake of Fact (if yes, include explanation in Section §) 

[lm Appealing within 35 days of State Tax Commission Order

Page 3

STATE OF MICHIGAN

GRETCHEN WHITMER

DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS

MARLON I. BROWN, DPA

GOVERNOR

LANSING

DIRECTOR

Section 7: Valuation Information suse the multiple parcel form for additional, contiguous parcels.

Parcel Identification Number:

FH 23 ZF0) —aaS

Classification of Property:

Regl

ersonal

(check one)

Agricultural

Commercial

industrial

Resgngar” Timer cuore

Developmental

~~ Wlility

(check one)

(ll

Current Assessed Value (also known as State Equatizéd Value) as established by the BOR:

Current "LS as dstablished

y the BOR:

What do you ZA Zon also,known as True Cash Value)?

55000

Multiply the True Cash Value i enter here, This is your contention of Assessed Value.

If you believe the Seale contention of Assessed Value, enter your contention of Taxable Value.

Fr500

Section 8: Classification Information *Only the MI Dep't of Treasury may appeal this issue to the Tribunal*

Parcel! Hee

—

— 5

Zp) 975)

a of Property as established by Board of Review:

Personal

{check one)

Agricultural

Commercial

Industrial

Residential

Timber-Cutover

Developmental

Utility

(check one)

What d

u believe is the property’s classification?

Poe

{check one)

Agricultural

Commerciai

Industrial

Residential

Timber-Cutover

Developmental

Utility

(check one)

If improved property, how is the property currently being used?

{f 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

[H] No

Are you appealing

KNLY the denial of a Poverty Exemption or Disabled Veterans Exemption?

1 Yes

Ifyou 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 fiting fee, pius

$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 206.762) 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 $400,000.01 or greater the

appeal does not qualify for Small Claims. Therefore, an Entire Tribunal petition must be filed.

Signature “required

Petitiope? dr Attorney! PE Signature:

ist or

Page 5

** Notice of March Board of Review Change **

FROM

TOWNSHIP OF SOUTHFIELD

MICHEAL R. LOHMEIER, ASSESSOR

18550 WEST 13 MILE ROAD

SOUTHFIELD TWP MI 48025-5262

NAME AND ADDRESS OF OWNER OR PERSON NAMED ON ASSESSMENT ROLL:

FLORES, CAMELLA

21794 HAMPTON ST

BEVERLY HILLS MI 48025-3659

PROPERTY IDENTIFICATION:

TH-24-03-301-005

SCHOOL DISTRICT: 63010

PROPERTY ADDRESS:

21794 HAMPTON ST

THIS PROPERTY IS CLASSIFIED AS:

401

Residential

PRINCIPAL RESIDENCE/QUALIFIED AG EXEMPTION:

0.00%

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:

031

DATE:

03/11/2025

VALUE PRIOR MBOR | VALUE AFTER MBOR

CHANGE

1. ASSESSED VALUE

425500

425,500

2. CAPPED VALUE

368,250

3. TAXABLE VALUE

425,500

4. TENTATIVE EQUALIZATION FACTOR:

1.000

.--__

5. STATE EQUALIZED VALUE:

425,500

425500

6. There WAS/WAS NOT a transfer of ownership on this property in 2024.

WAS

The 2025 Capped Value Formula is the 2024 Taxable Value, minus losses, increased by the Inflation Rate Muitiplier 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 appeal of valuation may be made to the Michigan Tax Tribunal by filing a petition that can be obtained at

www. michigan.gov/taxtrib (click Small Claims Tab) and mailed to PO Box 30232, Lansing, MI 48809 by May 31st 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

APPRAISAL OF REAL PROPERTY 

LOCATED AT 

21794 Hampton St 

Beverly Hills, MI 48025 

TiN, R10E, SEC 3 BERKSHIRE GROVE LOT 20 

FOR 

Lake Michigan Credit Union 

4027 Lake Drive 

Grand Rapids, MI 49546 

OPINION OF VALUE 

$740,000 

AS OF 

09/11/2024

Page 7

Collins Appraisal Group, Inc. 

33717 Woodward Ave, Ste. 105 

Birmingham, MI 48009 

(248) 635-5500 

09/13/2024 

Lake Michigan Credit Union 

4027 Lake Drive 

Grand Rapids, MI 49546 

Re: Property: 

21794 Hampton St 

Beverly Hills, MI 48025 

Borrower: 

Camelia Flores 

File No.: 

0181017780 

Opinion of Value: $ 

740,000 

Effective Date: 

09/11/2024 

In accordance with your request, we have appraised the above referenced property. The report of that appraisal is 

allached. 

The purpose of the appraisal is to develop an opinion of market value for the property described in this appraisal 

report, as improved, in unencumbered fee simple title of ownership. 

This report is based on a physical analysis of the site and improvements, a locational analysis of the neighborhood and 

city, and an economic analysis of the market for properties such as the subject. The appraisal was developed and the 

report was prepared in accordance with the Uniform Standards of Professional Appraisal Practice. 

The opinion of value reported above is as of the stated effective date and is contingent upon the certification and 

limiting conditions attached. 

It has been a pleasure to assist you. Please do not hesitate to contact me or any of my staff if we can be of additional 

service to you. 

Sincerely, 

Michael Collins, Jr., MSF 

President/Appraiser 

License or Certification #: | GGG 

State: MI 

Expires: 07/31/2025 

michael@mycollinsappraisal.com

Page 8

Coliins Appraisal Group 

Uniform Residential Appraisal Report 

Flo# 0181017780 

The purpose 

of this summary appraisal 

report 

Is 

fo provide 

the Jender/clent with 

an 

accurale, 

and 

adequately supported, 

opinion 

of 

the marke! value 

of the subject property. 

Property Address 

21794 Hampton St 

City 

Beverly Hills 

Stale 

MI 

ZipCode 

48025 

Bomowe! Camelia Flores 

Owner of Public Record 

Doris M Cassidy Trust 

County Oakland 

Legal Description 

T1N, R10E, SEC 3 BERKSHIRE GROVE LOT 20 

Assessor's Parcel 

#_24-03-301-005 

Tax Year 

2023 

RETaxes§ 

13,496 

5 Heighhothood Name 

Berkshire Grove Subdivision / Village of Beverly Hills 

Map Reference 

47664 

Census Trae! 1580.00 

JY Occupant 

DS) Owner 

[1 Tenant 

[| Vacant 

Special 

ns$ 

[JPuD 

 KoAS © 

[1peryesr 

 [ peemonth 

f= Propesty Rights Appraised 

(0) Fee Simple 

{| Leasehold 

| Other (describe) 

idl Assignment Yype 

DK Purchase Transaction 

|] Refinance Transaction 

|] Other (describe) 

Lender/Clent 

Lake Michigan Credit Union 

Address 

4027 Lake Drive, Grand Rapids, MI 49546 

Is the subject property currently offered for sale or has it been offered for sale In the twelve months priot fo the effective dale of this 

sal? 

DQ Yes 

[Ho 

Report dala source(s) used, offering price(s), and date(s). 

DOM 51;See attached addenda. 

t DX did 

[7] did not analyze the contract for sale for the subject purchase transaction. Explain the results of the analysis of the conlract for sale or why the analysis was not 

oerlomed, 

Arms length sale;See attached addenda. 

b4 Contract Price 

$740,000 

Dale of Contract 

09/03/2024 __Is the propety seller the oviner of pubic record? 

{ [Yes DA 

Ro 

Dala Sourcls) 

PA/PRD 

174 

Is there any financial assistance (oan charges, sae concessions, gift or downpayment assistance, efc.} 10 be paid by any party on behalf of the borrower? 

[Jes 

DQ Ho 

KE 1 Yes, report 

the total dotar amount and describe the ems to be paid, 

$0; 

Note: Race and the racial composition of the neighborhood are nt appraisal factois. 

Neighborhood Description 

See attached addenda. 

Nelghborhood Characteristics 

One-Unfi Housing Trends 

One-Unit Housing 

ProsentlandUse% 

Location 

[] Urban 

BC Sutwban 

[7] Rural 

Property Values 

[J bcreasing 

DO Stable 

{7 Dectring 

PRICE 

AGE 

| One-tind 

79% 

~ 

DK Over 75% 

[1] 25-75% 

[7] Under 25% | Demand/Supply 

(X] Sheriage 

{7 InBafance 

[1 Over Supply | 

$ (000) 

yrs) 

[2-4 Unt 

1% 

f4 Growth 

[7] Rapid 

BG Stable 

1 Show 

Marketing Time 

34) Under 3 mths 

[ 

}36mihs 

[J Over6mths | 265 

tow 

4 

| Mufi-Famly 

5% 

4 Neighborhood Boundaries 

See attached addenda. 

1,600 

High 

102 

|Commercial 

10% 

g 

516 

Pred. 

70 

|Other 

5%] 

& 

H 

Market Conditions (including support 

fof the above conclusions) 

See attached addenda. 

Dimensions 150" x 271" x 150" x 275" 

Area 40,930 sf 

Shape Rectangufar 

View _N:Res; 

Specific Zoning Classification 

R-A 

Zoning Description _ Single-Family Residential District 

Zoning Compliance 

%) Legal 

[1] Legal Nonconforming (Grandathered Use) 

[| No Zoning 

[ ] Wega (describe) 

#5 the highest and best use of subject property as improved (or as proposed per plans and specifications) the present use? 

Yes 

[] No 

if No, describe 

Utllitles 

Public 

Other {desceibe) 

Public 

Other (describe) 

Off-site Improvements - Type 

Public 

Private 

Electricity 

[7d 

[Il] 

Water 

x 

J 

Steet Asphalt 

x 

0 

Gas 

D>] 

Sanitary Sewer 

DQ 

[1] 

Aly 

None 

0.0 

FEMA Special Flood Hazard Area 

[1] Yes 

No 

FEMA Flood Zone 

X 

FEMAMap # 

 26125C0519F 

FEMA Map Date 

99/29/2006 

Are the ubities and off-site improvements typical for the market area? 

DQ Yes 

[ 

]Ho 

if No, describe 

Ase there any adverse site conditions or external factors {easements, encroachments, environmental conddions, land uses, ete}? 

{Yes 

DQ No 

If Yes, describe 

The subject site is located on a residential street in an established residential subdivision, The subject site offers typicat utility with no unusual 

easements or encroachments. The Appraiser noted no external obsolescence or adverse conditions at inspection, The subject offers typical 

residential views to all sides of the property. 

General Description 

Foundation 

Exterior Description 

materials/congHion 

interior 

‘materials/condition 

nits D4 One [7] One with Accessory Unit 

Concrete Sab 

DA) Crawl Space 

Foundation Was 

ConcretefAverage 

__|FROIs 

Wood/Tile/Carp/Ava 

# of Stories 

1.5 

|] 

Fu Basement 

[} Partial Basement 

Exterior Walls 

Brick/Average 

Walls 

Drywall/Average 

Type DQ Det. [J Att. 

[7] S-Det/End Unit [Basement Area 

0 sq.ft [Roof Surface 

Asphalt/Average 

TiwFnish 

 PYWd/Average 

DQ Existing 

[~] Proposed 

[] Under Const. |Basement nish 

0% [Gutters 

& Downspouls_Aluminunv/Average 

{Bath Floor 

TilefAverage 

Design (Sk) 

Cape Cod 

JL Outside Entry/Exit 

[1] Sump Pump 

[Window Type 

Glass/Wd/MWAvg. 

[Bath Wainscot Tile/Average 

Year Buit 

1994 

Evidence of 

[7] Infestation 

Storm Sastvinsulated 

 Aluminum/Average 

Car Storage 

|] Hong 

Effective Age (Yrs) 

20 

Dampness 

| | Settlement 

Screens 

Standard/Average 

Driveway 

 # of Cars 

1 

At 

Hong 

Heating [XI FWA 

|_| #WBB 

[{ 

| Radiant fAmenites 

Woodstove(s) # 

© 

[Driveway Surface 

Asphalt 

[7 Drop Stair 

1 Stairs 

J Other 

[Fuel Gas 

[X) Fireplace(s) # 

1 

DX] Fence Iron Bar 

|X) Garage 

# of Cars 

2 

[1] Floor 

Scuttls 

Coofing 

D4) Central 

Ar Conditioning 

[3 Patio/Deck 

Patio 

DC Porch Cong/Brick |] Carpet 

# of Cars 

Q 

I [J Finished 

{] Heated 

| dividual 

x Otier_Ceit Fan]_] Pool None 

[] Other None 

13 Atl. 

{7 Det. 

I] Buikin 

Fi Apotiances 

[ ] Refrigerator 

[1 Range/Oven 

Dishwasher 

BQ Disposal 

[9 Microwave 

| | Washer/Dryer 

| | Other (deseribe) 

bo] Finished area above grade contains: 

8 

Rooms 

4 

Bedrooms 

4.0 

Bath(s) 

3,848 

Square Feet of Gross Living Area Above Grade 

4 Additional features (special energy efficient ems, etc). 

The subject is a 1.5-story Cape Cod style home featuring 4-bedrooms, 4-bathrooms, and 2-car

Page 9

Uniform Residential Appraisal Report 

Flie# 0181017780 

There ate 

3 

comparable 

properties 

curently offered for sale 

in the subject neighborhood 

ranging 

in price from § 

509 689 

0% 

997 500 

There are 

9 

comparable sales 

in the subject neighborhood within the past twelve months ranging 

in sale price fiom 

$ 

580,00: 

fo$ 

1,131,000 

FEATURE 

| 

SUBJECT 

COMPARABLE SALE #1 

COMPARABLE SALE # 2 

COMPARABLE SALE # 3 

Address 

21794 Hampton St 

21725 Normandale St 

30386 Embassy St 

31961 Robinhood Dr 

Beverly Hills, Ml 48025 

Beverly Hills, M1 480265 

Beverly Hills, MI 48025 

Beverly Hills, Mi 48025 

Proximity 10 Subject 

6.93 miles § 

1.10 miles SE 

0.46 miles W 

Sale Price 

$ 

740,000) 

Is 

680,000] 

$ 

740,000] 

3 

766,000: 

Sale Price/Gross Liv. Area 

S 

19231 salS 

157.45 soft] 

3 

209.28 soft, 

$ 

240.96 sqft. 

Data Source(s) 

MLS #20240041070;D0M 12 

MLS #20240032328;,D0M 5 

MLS #20230080239;DOM 6 

Vetfication Source(s 

Online Tax Records, 

Online Tax Records 

Online Tax Records 

VALUE ADJUSTMENTS 

DESCRIPTION 

DESCRIPTION 

+} $ Adpstment 

DESCRIPTION 

+() § Adjustment 

DESCRIPTION 

++) § Adjustment 

Sales of Financing 

ArmLth 

ArmLth 

ArmLth 

Concessions 

Cash;0 

0iConv;3000 

3,000} Conv;4500 

-4,500, 

Date of Sak/Time 

507/24;c06/24 

0}506/24;c05/24 

0}510/23;c09/23 

Yj 

Location 

N;Res; 

NiRes; 

N;Res; 

NiRes; 

Leasshoki/Fes Simple 

Fee Simple 

Fee Simple 

Fee Simple 

Fee Simple. 

Site 

40,930 sf 

1.37 ac 

0[41,774 sf 

0]17,119 sf 

+15,000 

View 

NiRes; 

N;Res; 

N;Res; 

N:Res; 

Design (Style) 

DT1.5;Cape Cd 

[DT2;Tri-Lvi 

0|DT1.6:Cape Cd 

DT1.5;Cape Cd 

Quality of Construction 

Q3 

Q3 

Q3 

Q3 

Actual Aga 

30 

56 

0|70 

059 

[1] 

Condition 

C3 

C4 

+69,000(C3 

-18,500)1C3 

-38,300 

Above Grade 

Total 

{Bdms. | Baths | Total | Bdems. | Baths 

Tota) 

|8dms. | Baths 

Total | 8drms. | Baths 

Room Count 

81. 

4]400 

716 

141 

-3500] 

10] 

6 

{3.1 

+3500; 

91.5 

134 

+3,500 

Gross Living Avea 

3,848 sqft 

4,382 soft. 

-26,700) 

3,536 ofl. 

+15,600) 

3,179 sqft. 

+33,500° 

Basement & Finished 

0st 

Ost 

Osf 

1480s10sfin 

-15,000. 

Rooms Below Grade 

Functional Litity 

Average 

Average 

Average 

Average 

& Heating/Cooling 

GFAICAC 

GFAICAC 

GFAICAC 

BB/CAC 

90 

fof Energy Effcknt tems 

Standard 

Standard 

Standard 

Standard 

a Garage/Carport 

2gataw 

2qa2dw 

0j2qa2dw 

0j2ga2dw 

)] 

IS] Porch/Patio/Deck 

Porch/Patio 

Porch/Patio 

Porch 

0[Porch/Deck 

hl 

[4 

H 

fe] 

et Adistment (iota) 

+ 

[1-18 

38800 

[1+ 

DG- 

[5 

2400] 

[1+ 

X- 

is 

-5,800 

f7 Adjusted Sai Price 

Het Adj. 

56% 

Net Adj. 

03% 

Het Adj. 

08% 

fe] of Comparables 

Gross Adj. 

_14.4%)$ 

728,800[0rss Ad. 

55% $ 

737,600i6ross Adj. 

143% 

8 

760,200 

Rd1 DG did { ] did not research the sale of transfer hislary of the subject property and comparable sales. If nol, explain 

Myresearch 

[} dd 

{XC did not reveal any prior salss or transfers of the subject propery for the three years prior to the effective dale of this appraisal. 

Daa Source(s) 

_MLS/Online Tax Records 

My research 

[did 

(3 did nol reveal any prior sales of transfers of the comparable sakes for the year prior to the date of sale of the comparable sale. 

Dala Source(s} 

MLS/Online Tax Records 

Report the results of the research and analysis of the prior sale or transfer history 

of the subject property and comparable sakes {report additional prior sakes on page 3). 

HEM 

SUBJECT 

COMPARABLE SALE #1 

COMPARABLE SALE #2 

COMPARABLE SALE #3 

Date of Prior Sake/Transfer 

Price of Prior Sak/Transfer 

Data Source(s) 

Online Tax Records 

Online Tax Records 

Online Tax Records 

Online Tax Records 

Effective Dale of Data Source(s) 

09/09/2024 

09/11/2024 

09/11/2024 

09/11/2024 

Analysis of prior sak or Vansfer history of the subject propery and comparable sales 

the time frames in question. 

No prior sales of the subject, nor the comparables, were noted during 

Summary of Sales Comparison Approach 

See attached addenda.

Page 10

Uniform Residential Appraisal Report

Flo# 0181017780

In Michigan, appraisers are required to be licensed and regulated by the Michigan Department of Licensing and Regulatory Affairs, P.O. Box

30018, Lansing Mi 48909.

This Appraiser has completed no prior appraisal assignments or services pertaining to the subject property during the prior 36 months.

Regarding Highest and Bes! Use

The

appraiser completed analysis to determine the Highest and Best Use for the subject property per USPAP requirements. The subject is a

residential property consisting of a typical platted site and an existing single family home which conforms to the area. The appraiser considered

the four tests of Highest and Best Use analysis—-physically possible, legal permissibility, financial feasibility, and maximum productivity. After

consideration of the four lest, the current use was determined tg be the Highest and Best Use, The appraiser relied on online sources such as

focal zoning and ordinance,

plat map, market aclivily as well as physical inspection of the site to complete the Highest and Best Use analysis.

The subject has been measured in compliance with ANSI Standard 2765-2021.

fi] The subject's site value exceeds 30% of the subiect property's market value, and contract price, This is not atypical for this market area has no

adverse impact on the subject's marketability.

MMENT:!

fog While the sublect’s value is higher than the neighborhood's predominant value,

it is not an over-imptovement. The subject's value still falls within

the range of pricing for its market area. Thus,

no impact on marketability is noted.

ADDITIONA|

LOSTAPPROACH TO VALUE (not required

by Fannie Mag)

‘Provids adequate information for the lender/cent 10 replicate the below cost figures and calculations.

Support for the opinion of site value {summary of comparable land sales or other methods for estimating site value)

The opinion of site value is based on review of

similar MLS vacant land sales. Special considerations were given to 21950 Normandale St. (MLS #20240000677}, Hersheyvale (MLS

#20240012051),

000 Wing Lake Rd,

(MLS #20221003885), 31271 Sunset Dr, (MLS #2220026020), Otd Orchard (MLS #20221027690), and

32570 Lahser Rd. (MLS)

RA ESTMATED

[1] REPRODUCTION OR

| REPLACEMENT COST NEW

OPINION OF SHE VALUE

350,000

3 Source of cost data

DWELLING

J Quality ting from cost service

Effective date of cost data

4 Comments oa Cost Approach (gross Bving area caiculaions, depreciation, el.)

Garage/Garport

Total Estimate of Cost-New

Less

Physical

Functional

External

Depreciation

)

Bepreciated Cost of Improvements

“Asis” Value of Site Improvements

Estimated Remalning Economic Life {HUD and VA onk)

40 Years [INDICATED VALUEBY COSTAPPROACH

_____.____..________ =$

INCOME APPROACH YO VALUE (nat required

by Fannje Mas)

Zz Estimated Monthly Market Rent

X Gross Rent Mulipher

Indicated Value by Income Approach

4 Summary of income Approach (including support for market reat and GREY

PROJECT INFORMATION FOR RUDS {if applicable).

Is he develaperbuilder in control of the Homeowners' Association (HOA)?

[JY¥es

[No

Unittype(s)

[|] Detached

| | Attached

Page 11

Uniform Residential Appraisal Report 

Fllo# 0181017780 

This 

report 

form 

is 

designed 

fo 

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 

repart 

form 

is 

not 

designed 

to 

report 

an 

appraisal 

of 

a 

manufactured 

home 

or 

a 

unit 

in 

a 

condominium 

or 

cooperative 

project. 

This 

appraisat 

report 

is 

subject 

to 

the 

following 

scope 

of 

work, 

intended 

use, 

intended 

user, 

definition 

of 

market 

value, 

statement 

of 

assumptions 

and 

limiting 

conditions, 

and 

cerfifications. 

Modifications, 

additions, 

or 

deletions 

to 

the 

intended 

use, 

intended 

user, 

definition 

of 

market 

value, 

or 

assumptions 

and 

[imiting 

conditions 

are 

not 

permitted. 

The 

appraiser 

may 

expand 

the 

scope 

of 

work 

to 

include 

any 

additional 

research 

or 

analysis 

necessary 

based 

on 

the 

complexity 

of 

this 

appraisal 

assignment. 

Modifications 

or 

deletions 

to 

the 

certifications 

are 

also 

not 

permitted. 

However, 

additional 

certifications 

that 

do 

not 

constitute 

material 

alterations 

to 

this 

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 

appraisal assignment and 

the 

reporting 

requirements 

of 

thls 

appraisal 

report 

form, 

including 

the 

following 

definition 

of 

market 

value, 

statement 

of 

assumptions 

and 

limiting 

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) 

inspect 

the 

neighborhood, 

(3) 

inspect 

each 

of 

the 

comparable 

sales 

from 

at 

feast 

the 

street, 

(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 

report. 

INTENDED USE: 

The 

intended 

use 

of 

this 

appraisal 

report 

is 

for 

the 

lender/client 

to 

evaluate 

the 

propery 

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 

competitive 

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 

affected 

by 

undue 

stimulus. 

Implicit 

In 

this 

definition 

is 

the 

consummation 

of 

a 

sale 

as 

of 

a 

specified 

date 

and 

the 

passing 

of 

title 

from 

seller 

io 

buyer 

under 

conditions 

whereby: 

(1) 

buyer 

and 

seller 

are 

typically 

motivated; 

(2) 

both 

parties 

are 

well 

informed 

or well 

advised, 

and 

each 

acting 

in 

what 

he 

or 

she 

considers 

his 

or 

her own 

best 

interest; 

(3) 

a 

reasonable 

fime 

is 

allowed 

for exposure 

in 

the 

open 

market; 

(4) 

payment 

is made 

In terms 

of 

cash 

in 

U. 

S. 

dellars 

or 

in terms 

of 

financial 

arrangements 

comparable 

thereto; 

and 

(5) 

the 

price 

represents 

the 

normal 

consideration 

for 

the 

propery 

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 

tradition 

or 

law 

in 

a 

marke! 

area; 

these 

costs 

are 

readily 

identifiable 

since 

the 

seller 

pays 

these 

costs 

in 

virtually 

all 

sales 

transactions. 

Special 

or 

creative 

financing 

adjustments 

can 

be 

made 

to 

the 

comparable 

property 

by 

comparisons 

to 

financing 

lerms 

offered 

by 

a 

third 

party 

institutional 

lender 

that 

is 

not 

already 

involved 

in 

ihe 

properly 

or 

transaction. 

Any 

adjustment 

should 

not 

be 

calculated 

on 

a 

mechanical 

doffar 

for 

dollar 

cost 

of 

the 

financing 

or 

concession 

but 

the 

dollar 

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 

appraiser's 

certification 

In 

this 

report 

is 

subject 

to 

the 

following 

assumptions 

and 

limiting 

conditions: 

1. 

The 

appraiser 

will 

not 

be 

responsible 

for 

matters 

of 

a 

legal 

nature 

that 

affect 

ether 

the 

properly 

being 

appraised 

or 

the 

title 

to 

it, 

except 

for 

information 

that 

he 

or 

she 

became 

aware 

of 

during 

the 

research 

involved 

in 

performing 

this 

appraisal. 

The 

appraiser assumes 

that 

the 

ile 

is 

good 

and 

marketable 

and 

will 

not 

render 

any 

opinions 

about 

the 

title. 

2. 

The 

appraiser 

has 

provided 

a 

sketch 

in 

this 

appraisal 

report 

to 

show 

the 

approximate 

dimensions 

of 

the 

improvements. 

The 

sketch 

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 

that 

are 

provided 

by 

the 

Federal 

Emergency 

Management 

Agency 

(or 

other 

data 

sources) 

and 

has 

noled 

in 

this 

appraisal 

report 

whether 

any 

portion 

of 

the 

subject 

site 

is 

located 

in 

an 

identified 

Special 

Flood 

Hazard 

Area. 

Because 

the 

appraiser 

is 

not 

a 

surveyor, 

he 

or 

she 

makes 

no 

guarantees, 

express 

or 

implied, 

regarding 

this 

determination. 

4. 

The 

appraiser 

will 

not 

give 

testimony 

or appear 

in 

court because 

he 

or 

she 

made 

an 

appraisal 

of 

the 

property 

in 

question, 

unless 

specific 

arrangements 

fo 

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 

subsiances, 

etc.) 

observed 

during 

the 

inspection 

of 

the 

subject 

property 

or 

that 

he 

or 

she 

became 

aware 

of 

during 

the 

research 

involved 

in 

performing 

the 

appraisal. 

Unless 

otherwise 

stated 

in 

this 

appraisal 

report, 

the 

appraiser 

has 

no 

knowledge 

of 

any 

hidden 

or 

unapparent 

physical 

deficlencies 

or 

adverse 

conditions 

of 

the

Page 12

Uniform Residential Appraisal Report 

File # 0181017780 

APPRAISER'S CERTIFICATION: 

The Appraiser 

cerifies 

and 

agrees 

that: 

1. 

| 

have, 

al 

a 

minimum, 

developed 

and 

reported 

this 

appraisal 

in 

accordance 

with 

the 

scope 

of 

work 

requirements 

stated 

in 

this 

appraisal 

report, 

2. 

| 

performed 

a 

complete 

visual 

inspection 

of 

the 

interior 

and 

exterior 

areas 

of 

the 

subject 

property. 

| 

reported 

the 

condition 

of 

the 

improvements 

in 

factual, 

specific 

terms. 

| 

identified 

and 

reported 

the 

physical 

deficiencies 

that 

could 

affect 

ths 

livability, 

soundness, 

or 

structural 

integrity 

of 

the 

property. 

3. 

I 

performed 

this 

appraisal 

in 

accordance 

with 

the 

requirements 

of 

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 

ai 

the 

time 

this 

appraisal 

report 

was 

prepared. 

4. 

1 

developed 

my 

opinion 

of 

the 

market 

value 

of 

the 

real 

property 

that 

is 

the 

subject 

of 

this 

report 

based 

on 

the 

sales 

comparison 

approach 

to 

value. 

| 

have 

adequate 

comparable 

market 

data 

to 

develop 

a 

reliable 

sales 

comparison 

approach 

for 

this 

apprafsal 

assignment. 

| 

further 

certify 

that 

| 

considered 

the 

cost 

and 

income 

approaches 

fo 

value 

but 

did 

net 

develop 

them, 

unless 

otherwise 

indicated 

in 

this 

report. 

5. 

| 

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 

this 

appraisal, 

and 

the 

prior 

sales 

of 

the 

subject 

property 

for 

a 

minimum 

of 

three 

years 

prior 

to 

the 

effective 

date 

of 

this 

appraisal, 

unless 

otherwise 

indicated 

in 

this 

report. 

6. 

1 

researched, 

verified, 

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 

otherwise 

indicated 

in 

this 

report. 

7. 

1 

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 land. 

8. 

| 

have 

reporled 

adjustments 

te 

the 

comparable 

sales 

that 

reflect 

the 

market's 

reaction 

to 

the 

differences 

between 

the 

subject 

propesty 

and 

the 

comparable 

sales. 

10. 

| verified, 

from 

a disinterested source, 

afl 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 

this 

market 

area. 

12. 

) 

am 

aware 

of, 

and 

have 

access 

fo, 

the 

necessary 

and 

appropriate 

public 

and 

private 

data 

sources, 

such 

as 

multiple 

listing 

services, 

tax assessment 

records, 

public 

land 

records 

and 

other 

such 

data 

sources 

for 

the 

area 

in 

which 

the 

property 

is 

located. 

13. 

| 

obtained 

the 

Information, 

estimates, 

and 

opinions 

fumished 

by 

other 

parties 

and 

expressed 

in 

this 

appraisal 

report 

from 

reliable 

sources 

that 

| 

befieve 

to 

be 

true 

and 

comect. 

14. 

| 

have 

taken 

into 

consideration 

the 

factors 

that 

have 

an 

impact 

on 

value 

with 

respect 

te 

the 

subject 

nelghborhood, 

subject 

property, 

and 

the 

proximity 

of 

the 

subject 

property 

to 

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 

research 

involved 

in 

performing 

this 

appraisal. 

| 

have 

considered 

these 

adverse condiions 

in my 

analysis 

of 

the 

property 

value, 

and 

have 

reported 

on 

the 

effect 

of the condiions 

on 

the 

value 

and 

markelabilty 

of 

the 

subject 

property. 

15. 

1 

have 

not 

knowingly withheld 

any 

significant 

information 

from 

this 

appraisal 

report 

and, 

to 

the 

best 

of 

my 

knowledge, 

alt 

statements 

and 

information 

in 

this 

appraisal 

report 

are 

te 

and 

correct. 

16. 

| 

stated 

in 

this 

appraisal 

report 

my 

own 

personal, 

unbiased, 

and 

professional 

analysis, 

opinions, 

and 

conclusions, 

which 

are 

subject 

only 

to 

the 

assumptions 

and 

limiting 

conditions 

in 

this 

appraisal 

report. 

17. 

| have 

no present 

or prospective 

interest 

in 

the property 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. 

| 

did 

not 

base, 

either 

partially 

or 

completely, 

my 

analysis 

and/or 

opinion 

of 

market 

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 the 

present owners 

or occupants 

of the properties 

in 

the 

vicinity 

of the subject property 

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 

| 

would 

report 

(or 

present 

analysis 

supporting) 

a 

predetermined 

specific 

value, 

a 

predetermined 

minimum 

value, 

a 

range 

or 

direction 

in 

value, 

a 

value 

that 

favars 

the 

cause 

of

Page 13

File # 0181017780 

Uniform Residential Appraisal Report 

21. 

The 

lender/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; 

mortgage 

Insurers; 

government 

sponsored 

enterprises; 

other 

secondary 

market 

participants; 

data 

collection 

or 

reporting 

services; 

professional 

appraisal 

organizations; 

any 

department, 

agency, 

or 

instrumentality 

of 

the 

United 

States; 

and 

any 

state, 

the 

District 

of 

Columbia, 

or 

other 

jurisdictions; 

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 

party 

(including, 

but 

not 

limited 

to, 

the 

public 

through 

advertising, 

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 

laws 

and 

regulations. 

Further, 

| 

am 

also 

subject 

to 

the 

provisions 

of 

the 

Uniform 

Standards 

of 

Professional 

Appraisal 

Practice 

that 

pertain 

to 

disclosure 

or 

distribution 

by 

me. 

23. 

The 

borrower, 

another lender 

at 

the 

request 

of 

the 

borrower, 

the mortgagee 

or 

its 

successors 

and 

assigns, 

mortgage 

insurers, 

government 

sponsored 

enterprises, 

and 

other 

secondary 

market 

participants 

may 

rely 

on 

this 

appraisal 

report 

as 

part 

of 

any mortgage 

finance 

transaction 

that 

involves 

any 

one 

or 

more 

of these 

parties. 

24. 

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 

if 

a 

paper 

version 

of 

this 

appraisal 

report 

were 

delivered 

containing 

my 

original 

hand 

written 

signature. 

25. 

Any 

intentional 

or 

negligent 

misrepresentation(s) 

contained 

in 

this 

appraisal 

report 

may 

result 

in 

civil 

liability 

and/or 

criminal 

penalties 

including, 

but 

not 

limited 

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 

certifies 

and 

agrees 

that: 

1. 

1 

directly 

supervised 

the 

appraiser 

for 

this 

appraisal 

assignment, 

have 

read 

the 

appraisal 

report, 

and 

agree 

with 

the 

appraiser's 

analysis, 

opinions, 

statements, 

conclusions, 

and 

the 

appraiser's 

certification. 

2. 

| 

accept 

full 

responsibility 

for the 

contents 

of 

this 

appraisal 

report 

including, 

but 

not 

limited 

to, 

the 

appraiser's 

analysis, 

opinions, 

statements, 

conclusions, 

and 

the 

appraiser's 

certification. 

3. 

The 

appraiser 

identified 

in 

this 

appraisal 

report 

is 

either 

a sub-contractor 

or 

an employee 

of 

the 

supervisory 

appraiser 

(or 

the 

appraisal 

firm), 

is 

qualified 

to 

perform 

this 

appraisal, 

and 

is 

acceptable 

to 

perform 

this 

appraisal 

under 

the 

applicable 

state 

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 

this 

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 

if 

a 

paper 

version 

of 

this 

appraisal 

report 

were 

delivered 

containing 

my 

original 

hand 

written 

signature. 

SUPERVISORY APPRAISER (ONLY IF REQUIRED) 

4 

A 

Signature 

py 

Signature 

Name 

Michael Collins, Jr., MSF 

Name 

Company Name 

Collins Appraisal Group, 

Inc. 

Company Name 

Company Address 

33717 Woodward Ave, Ste. 105 

Company Address 

Birmingham, MI 48009 

Telephone Number 

~~ 

(248) 635-5500 

Telephone Number 

Email Address 

Date of Signature 

Email Address 

michael@mycollinsappraisal.com 

Date of Signature and Report 

09/13/2024 

Effective Date of Appraisal 

State Certification # 

State Certification 

or State License # 

or State License # 

State 

or Other (describe) 

State # 

State 

MI 

Expiration Date of Certification or License 

07/31/2025 

ADDRESS OF PROPERTY APPRAISED 

Expiration Date of Certification or License 

SUBJECT PROPERTY 

[1] 

Did not inspect subject property

Page 14

Uniform Residential Appraisal Report 

Fils # 0181017780 

FEATURE 

| 

SUBJECT 

COMPARABLE SALE # 4 

COMPARABLE SALE # 5 

COMPARABLE SALE # § 

Address 

21794 Hampton St 

21200 W 13 Mile Rd 

Beverly Hills, 

Mi 48025 

Beverly Hills, M1 48026 

Proximity fo Subject 

0.52 miles SE 

Sda ice 

5s 

740,000 

[882000 

Is 

fs 

SdePrce/Gross Lv Awa 

|S 

102.31 sat]S 

213.94 suf 

$ 

suf. 

s 

sqft] 

Data Source(s) 

MLS #20240059163,D0M 36 

Verification Source(s) 

Online Tax Records 

VALUE ADJUSTMENTS 

DESCRIPTION 

DESCRIPTION 

+() § Adjustment 

DESCRIPTION 

+() § Adjustment 

DESCRIPTION 

+{) § Adjustment 

Sales or Financing 

: 

Listing 

[v 

Concessions 

Active;0 

[1] 

Date of Salke/Time 

- 

Active 

-20,725 

Location 

N;Res; 

N;Res;BsyRd 

1] 

Fee Simple 

Fee Simple. 

Fee Simple 

40,930 sf 

1.84 ac 

-15,000) 

N;Res; 

N;Res;CtyStr 

[4 

I] Design (Syke) 

DT1.5,Cape Cd 

|DT1.5:Cape Cd 

Quality of Construction 

Q3 

Q3 

Actual Age 

30 

69 

[t; 

bY Condition 

G3 

c3 

b4 Above Grade 

Total 

[Bdms. | Baths | Total |8dms. | Baths 

Total 

[Bdmms, | Baths 

Tota! | Barms, | Baths 

[74 Room Count 

al 

4 

aol10] 

4 

[30 

+7,000) 

4 Gross Living Area 

3,848 sof. 

3,875 

sqft. 

of 

sgl. 

sqft. 

hil Basement & Finished 

ost 

0sf 

Rooms Below Grade 

Functional Utikty 

Average 

Average 

Heating/Cooking 

GFA/CAC 

GFAICAC 

Energy Efficient Rems 

Standard 

Standard 

Garage/Carport 

2aaldw 

2ga2dw 

[1] 

PorelyPatiDeck 

Porch/Patio 

PorchiPatio 

Het Adjustment (Tota) 

[1+ 

DG- 

Is 

28726 

[+ 

[]- 

[8 

C+ 

[J- 

8 

Adjusted Sale Price 

- 

Net Adj. 

35% 

Net Ad, 

% 

Net Adj. 

% 

of Comparables 

Gross Adj. 

5.2%1$ 

800,275] 6r0ss Adj. 

% 

i$ 

Gross Ad). 

%|$ 

Report the resufls of the research and analysis of the prior sale of transfer history 

of the subject property and comparable sales {report additional prior sales on page 3). 

MEM 

SUBJECT 

COMPARABLE SALE # 4 

COMPARABLE SALE # 5 

COMPARABLE SALE # § 

Date of Prior Sale/ Transfer 

J) Piice of Prior Sal/Transfer 

Data Source(s) 

Online Tax Records 

Online Tax Records 

2 Effective Date of Data Source(s) 

09/09/2024 

09/11/2024 

Analysis of prior sale or transfer histary of ihe subject properly and comparable sales 

w 3 

a a 

Analysis/Comments 

SIS / COMMENTS

Page 15

Subject Photo Page 

Bomower 

Camelia Flores 

Property Address 

21794 Hampton St 

City 

Beverly Hills 

County Oakland 

State 

MI 

Zip Gode 48025 

Lender/Client 

Lake Michigan Credit Union 

= 

n 

CL 

Subject Front 

21794 Hampton St 

Saks Price 

740,000 

GLA. 

3,848 

Tol. Rooms 

8 

Tot. Bedrms. 

4 

Tot. Bathrms. 4.0 

Location 

N;Res; 

View 

NiRes; 

Site 

40,930 sf 

Quality 

Q3 

Age 

30 

Subject Rear 

Subject Street

Page 16

Comparable Photo Page 

Borrower 

Camelia Flores 

Property Address 

21794 Hampton St 

City 

Beverly Hills 

County Oakland 

State 

MI 

Zp Code 

48025 

Comparable 

1 

21725 Normandale St 

Proximity 

0.93 miles S 

Salk Price 

690,000 

GLA 

4,382 

Total Rooms 

7 

Total Bedrms 

5 

Total Bathrms 4.1 

Location 

N;Res; 

View 

NiRes; 

Site 

1.37 ac 

Quality 

Q3 

Age 

56 

Cemparable 2 

30386 Embassy St 

Proximity 

1.10 miles SE 

Sale Price 

740,000 

GLA 

3,536 

Total Rooms 

10 

Total Bedrms 

6 

Total Bathrms 3.1 

Location 

N;Res; 

View 

NiRes; 

Site 

41,774 sf 

Quality 

Q3 

Age 

70 

Comparable 

3 

31961 Robinhood Dr 

Proximity 

0.46 miles W 

Sale Price 

766,000 

GLA 

3,179 

Total Rooms 

9 

Total Bedrms 

5 

Total Bathrms 

3.1 

Location 

N;Res;

Page 17

Comparable Photo Page 

Bormower 

Camelia Flores 

Property Address 

21794 Hampton St 

City 

Beverly Hills 

County Oakland 

State 

MI 

Zip Code 

48025 

Lender/Cient 

Lake Michigan Credit Union 

Comparable 4 

21200 W 13 Mile Rd 

Proximity 

0.52 miles SE 

Sale Price 

829,000 

GLA 

3,875 

Total Rooms 

10 

Total Bedims 

4 

Total Bathrms 3.0 

Location 

N;Res;BsyRd 

View 

N;Res;CtyStr 

Site 

1.94 ac 

Quality 

Q3 

Age 

69 

MLS photo used 

as home was not 

fully visable from 

the street. 

Comparable 

5 

Total Rooms 

Total Bedrms 

Total Bathims 

Location 

View 

Site 

Quality 

Age 

Comparable 6 

Total Rooms 

Total Bedrms 

Total Bathrms 

Location

Page 18

Photograph Addendum 

Bomower 

Camelia Flores 

Property Address 

21794 Hampton St 

City 

Beverly Hills 

County Oakland 

State 

MI 

Zip Code 

48025 

Lender/Clent 

Lake Michigan Credit Union 

Alternate Street View 

Exterior Side View 

Other Exterior Side View 

Foyer

Page 19

Photograph Addendum 

Bomower 

Camelia Flores 

Property Address 

21794 Hampton St 

City 

Beverly Hills 

County Oakland 

State 

MI 

ZipCode 

48025 

Lender/Client 

Lake Michigan Credit Union 

Kitchen 

Alternate Kitchen View

Page 20

Photograph Addendum 

Borrower 

Camelia Flores 

Property Address 

21794 Hampton St 

City 

Beverly Hills 

County Oakland 

State 

M1 

Zip Code 

48025 

Lender/Cient 

Lake Michigan Credit Union 

Bedroom #1 

Bathroom 

Alternate Bathroom View 

Bedroom #2

Page 21

Photograph Addendum 

Borrower 

Camelia Flores 

Property Address 

21794 Hampton St 

City 

Beverly Hills 

County Oakland 

State 

MI 

ZipCode 

48025 

Lender/Client 

Lake Michigan Credit Union 

Mechanicals 

Staircase to Upper Level 

Bedroom #4 

Bathroom

Page 22

Photograph Addendum 

Bomower 

Camelia Flores 

Property Address 

21794 Hampton St 

City 

Beverly Hills 

County Oakland 

State 

MI 

Zip Code 

48025 

Lender/Client 

Lake Michigan Credit Union 

Patio View 

Backyard 

Central Air-Conditioning Units 

Running Water

Page 23

Location Map 

Bomower 

Camelia Flores 

Property Address 

21794 Hampton St 

City 

Beverly Hills 

County_OQakland 

State 

MI 

Zip Code 48025 

Lender/Clent 

Lake Michigan Credit Union 

cosed® 

fp 

SAREE 

= 

ido 

AnoLLS 

nhc 

a la mode, 

inc. 

The Eternal 

UnpeagiTy 

Tow wae ved tae tereckiogy 

Mother Temple 

- 

. 

+ 

wo 

a 

' 

Rachester Hills| 

(=) 

CUMBERLAND! 

Mites 

Ponta 

ad 

IC 

Whuon 3 

oil 

im 

Nelanaom oon 

7’ 

hh 

- 

Firefighters 

el 

en 

Rr 

- 

ev. 3 we 

> 

Bloomfield 

- 

Blo) hi 

ka 

Tvip 

- 

Yr 

1 

5 

- jo Ross 

Buffalo V 

» 

Blggmilcid 

Wings Arc 

Township 

. 

10 01 

| 

1 

TreeRunner Adventure 

J 

SUBJECT 

{ 

Clawson Park 

Park & Mini Golf West.. 

21794 Hampton St 

sii) gham 

[4] 

, 

[9 

Bavarly Hills, MI 48025 

Matvin's Marvelous 

\, 

Mechanical Museum 

Clawson 

@ 

’ 

Frenkdln 

@ Cotewell Healih 

Beverly Hills 

William Beaumont. 

W000 

CREEK FARMS 

Farmington 

Barkley 

Hills 

Lathrup 

Village 

Royal Oak 

iPad @ 

SRV 

| 

Huntington '@ fyayeoit 2¢ 

Carpenter Lake 

Heritage Park 

Nature Preserve [4] 

\ 

\ 

Southfield 

05) 

Farmington o 

¥ 

Ng 

- 

Zap Zone 

Triumph © Hufeh 

Oak Park 

Ferndale 

——— 

" 

~ North Campi © 

BE LO 

- 

Royal Oak 

5 

Charter Twp 

dein 

A Chenel teat 

Gre 

' 

YSPaTK 

== 

Farmington Hills Hospital 

sii Shirdi @ 

HARTA 

prt 

Saibaba Temple 

’ 

S 

of 

Wayne County ©,

Page 24

Location Map 

Borrower 

Camelia Flores 

Properly Address 

21794 Hampton St 

City 

Beverly Hills 

County Oakland 

State 

MI 

Zip Code 

48025 

Lender/Clent 

Lake Michigan Credit Union 

21794 Hampton St 

Beverly Hills, M1 48025

Page 25

Location Map 

Bomower 

Camelia Flores 

Property Address 

21794 Hampton St 

City 

Beverly Hills 

County Oakland 

State 

MI 

Zip Code 

48025 

Lender/Clent 

Lake Michigan Credit Union 

9 

a la mode, 

inc. is 

3 

oe want row ese tereasony 

BLOOMFIELD 

g 

VILLAGE 

a 

» 

~ 

2 

2 

3 

§ 

Quarton Luke 

a 

k 

U 

Maple 

Ra 

4 

ple 

fd 

W Maple Kd 

W 

Maple 

Vi Maple Rd 

3 

Vi Maple fl 

splo Ril 

o 

» 

Equinox Bloomfield Hills 

7 

] 

© Ernest W. Seaholin 

= 

High School 

We Lmeotn SU 

a 

1 

H 

= 

g 

E 

\ 

a 

COMPARABLE No. 3 

31961 Robinhood Dr 

Beverly Hills, MI 48025 

0.46 miles W 

WA Mile Ry 

Beverly Hills, M1 48025 

SUBJECT 

21794 Hampton 5t 

Sy 

COMPARABLE No. 4 

21200 W 13 Mile Rd 

Beverly Hills, MI 48025 

0.52 miles S¢ 

13 Mile td 

COMPARABLE No, 2 

{21} 

COMPARABLE No. 

1 

13 Mole Rf 

21725 Normandale 5t 

rly Hills 13M itd 

Beverly Hills, M1 48025 

2 

0.93 miles S 

MN 

a 

C1 

2 

f= 

30 

] 

Beve 

Sw? Mie id 

12 Mite fd 

on 

® 

ix 

Fl 

[2 

Py same] 

386 Embassy St 

rly Hills, M1 48025 

1.10 miles SE

Page 26

Borrower 

Camelia Flores 

filz No. 0181017780 

Properly Address 

21794 Hampton St 

City 

Beverly Hills 

County Oakland 

State 

MI 

Zip Code 48025 

Lender/Client 

Lake Michigan Credit Union 

APPRAISAL AND REPORT IDENTIFICATION 

This Report is one of the following types: 

DS Appraisal Report 

(A written report prepared under Standards Rule 

2-2(a) 

, pursuant to the Scope of Work, as disclosed elsewhere in this report) 

O Restricted 

(A writin report prepared under Standards Rule 

 2-2(b) 

, pursuant to the Scope of Work, as disclosed elsewhere in this report, 

Appraisal Report 

restricted to the stated intended use by the specified client or intended user.) 

Comments on Standards Rule 2-3 

I certify that, to the best of my knowledge and belief: 

- The statements of fact contained in this report are true and correct. 

- The reported analyses, opinions, and conclusions are limited only by the reported assumptions and fmiting conditions and are my personal, impartial, and unbiased professional 

analyses, opinions, and conclusions. 

- Unless otherwise indicated, | have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the parties involved. 

- Unless otherwise indicated, | have performed no services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three-year 

period immediately preceding acceptance of this assignment, 

- 1 have no bias with respect to the property that is the subject of this report or the parties involved with this assignment. 

- My engagement in this assignment was not contingent upon developing or reporting predetermined results. 

- My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the 

client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. 

- My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice that 

were in effect at the time this report was prepared. 

- Unless otherwise indicated, 

| have made a personal inspection of the property that is the subject of this report. 

- Unless otherwise indicated, no one provided significant real property appraisal assistance to the person(s) signing this certification (if there are exceptions, the name of each 

individual providing significant real property appraisal assistance is staled elsewhere in this report). 

Reasonable Exposure Time 

(USPAP defines Exposure Time as the estimaled length of time that the properly interest being 

appraised would have been offered on the market prior to the hypothetical consummation of a sale at 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: 

Less than 30 days. 

Comments on Appraisal and Report Identification 

Note any USPAP-related issues requiring disclosure and any state mandated requirements:

Page 27

FitNo.

0181017780

UNIFORM APPRAISAL DATASET (UAD) DEFINITIONS ADDENDUM

{Source: Fannie Mae UAD Appendix D: UAD Field-Specific Standardization Requirements)

Condition Ratings and Definitions

The improvements have been recently constructed and have not been previously occupied. The entire structure and alf components are new

and the dwelling features no physical depreciation.

Nate: Newly constructed improvements that feature recycled or previously used materials and/or components can be considered new dwellings

provided that the dwelling Is placed on a 100 percent new foundation and the recycled materials and the recycled components have been

rehabllitated/remanufactused into like-new condition. improvements that have not been previously eccupied are not considered “new” if they

have any significant physical depreciation (that is, newly constructed dwellings that have been vacant for an extended period of time without

adequate maintenance or upkeep).

The improvements feature no deferred maintenance, little or no physical depreciation, and require no repairs. Virtually all building components

are new or have been recenlly repaired, refinished, or rehabilitated. Alf outdated components and finishes have been updated and/or replaced

with components that meet current standards. Dwellings in this category are either almost new or have been recently completely renovated and

are simifar in condition te new construction,

Note: The improvements represent a relatively new property that is well maintained with no deferred maintenance and little or no physical

deprecation, or an older property that has been recently completely renovated.

The Improvements are weil maintained and feature limited physical depreclation 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.

Note: The improvement is in its first-cycle of replacing short-fived building components (appliances, floor coverings, HVAC, etc.) and is

being wall maintained. Its estimated effective age is less than its actual age. it also may reflect a property in which the majarity of

short-lived building components have been replaced but not to the level of a complete renovation.

The improvements feature some minor deferred maintenance and physical deterioration due to normal wear and tear, The dwelfing has been

adequately maintained and requires only minimal repairs to building components/mechanical systems and cosmetic repairs. All major busiding

components have been adequately maintained and are functionally adequate.

Note: The estimated affective age may be close to or equal to its actual age. It reflects a property In which some of the short-lived building

components have been replaced, and some shert-fived building components are at or near the end of their physical life expectancy; however,

they still function adequately. Mast minor repairs have been addressed on an ongoing basis resulting in an adequately maintained property.

The improvements feature abvious deferred maintenance and are in need of some significant repairs. Some bufiding components need repairs,

rehabilitation, or updating. The functional utility and everall livability is somewhat diminished due to condition, but the dweliing remains

useable and functional as a residence.

Note: Some significant repairs are needed to the improvements due to the lack of adequate maintenance. It reflects a property in which many

of its short-fived building components are at the end of or have exceeded thelr physical life expectancy but remain functional.

[433

The improvements have substantial damage or deferred maintenance with deficiencies or defects that are severe enough to affect the safely,

soundness, or structural integrity of the improvements. The improvements are in need of substantial repairs and rehabilitation, including many

or most major components.

Note: Substantial repalrs are needed to the Improvements due to the lack of adequate maintenance or properly damage. It reflscts a property

with conditions severe enough fo affect the safety, sotindness, or structural integrity of the improvements.

Quality Ratings and Definitions

Page 28

UNIFORM APPRAISAL DATASET (UAD) DEFINITIONS ADDENDUM

(Source: Fannie Mae UAD Appendix D: UAD Field-Specific Standardization Requirements)

Quality Ratings and Definitions (continued)

Dwellings with this quality rating are residences of higher quality built from individual or readily avaitable designer pfans In above-standard

residential tract developments or on an individual properly owner's site. The design includes 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 “stack” standards.

Dwellings with this quality rating meet or exceed the requirements of applicable building codes. Standard or modified standard building plans

are utilized and the design includes adequate fenestration and soma exterior ornamentation and interior refinements. Materials, workmanship,

finlsh, and equipment are of stock or builder grade and may feature some upgrades.

Dwellings with this quality rating feature sconomy of construction and basie functionality as main considerations. Such dwellings feature a

plain design using readily available or basic floor plans featuring minimal fenestration and basic finishes with minimal exterior ernamentation

and lirnited interior detail. These dwellings meet minimum building codes and are constructed with inexpensive, stock materials

with limited refinements and upgrades.

¢)

Dwalllngs with this quality rating are of basic quality and lower cost; some may not be suitable for year-round occupancy. Such dwellings

are often built 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 unskilled or possess onty minimal construction skills. Electrical, plumbing, and other mechanical

systems and equipment may be minimal or non-existent. Older dwellings may feature one or more substandard er non-conforming additions.

1o the original structure

Definitions of Not Updated, Updated, and Remodeled

Not Updated

Littte or no updating or madernization. This description includes, but is not fimited to, new homes.

Residantial 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 of age are also considered not updated if the

appliances, fixtures, and finishes are predominantly dated. An area thal is *Not Updated" may still be well maintained

and fully functional, and this rating does not necessarily imply deferred maintenance or physicalfunctional deterioration.

Updated

The area of the home has been modified to meet current market expectations. These modifications

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 compenents to mest existing market expectations, Updates do not

include signiticant 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.

Aremodeled area reflects fundamental changes that include muttiple alterations. These alterations may Include

some or all of the following: replacement of

a major component (cabinets), bathtub, or bathroom tile), relocation

of plumbing/gas fixtures/appliances, significant structural alterations (relocating walls, and/or the addition of)

square foetage). This would include a complete gutting and rebuild.

Explanation of Bathroom Count

Three-quarter baths are counted as a full bath in aff gases. Quarter baths {baths that feature only a toilet) are not

Page 29

UNIFORM APPRAISAL DATASET (UAD) DEFINITIONS ADDENDUM 

(Source: Fannie Mae UAD Appendix D: UAD Figld-Specific Standardization Requirements) 

Abbreviations Used in Data Standardization Text 

Abbreviation 

a 

Full Name 

Fields Whare This Abbreviation May Appear 

A 

Adverse 

Location & View 

ac 

Acres 

Area, Site 

AdjPrk 

Adjacerd fo Park 

Location 

AdjPwr 

Adjacent to Power Lines 

Location 

Armmkth 

Arms Length Sale 

Sale or Financing Concessions. 

AT 

Attached Structure 

Design (Styls) 

B 

Bengficlal 

Location & View 

ha 

Bathroom(s) 

Basement & Finished Rooms Below Grade 

br 

Bedroom 

Basement & Finished Roorns Below Grade 

BsyRd 

Busy Road 

Location 

c 

Contracted Date 

Date of Salg/Time 

Gash 

Cash 

Sale or Financing Concessions 

Comm 

Commercial Influsnce 

Location 

Conv 

Conventional 

Sale or Financing Concessions 

cp 

Carport 

Garage/Carpart 

CrtOrd 

Couit Ordered Sale 

Sale or Financing Concessions 

CrySky 

City View Skyline View 

View 

ClyStr 

City Street View 

View 

ov 

Covered 

Garage/Carport 

DOM 

Days On Market 

Data Sources 

DT 

Detached Structure 

Design (Style) 

dw 

Driveway 

Garage/Carport 

e 

Expiration Date 

Date of Sale/Time 

Estate 

Estate Sale 

Sale or Financing Concessions 

FHA 

Federal Housing Authority 

Sale or Financing Concessions 

[*) 

Garage 

Garage/Carport 

ga 

Attached Garage 

Garage/Carport 

gbi 

Built-in Garage 

Garage/Carpart 

qd 

Detached Garage 

Garage/Carport 

GifGse 

Golf Course 

Location 

Gifvw 

Golf Course View 

View 

GR 

Garden 

Design (Style) 

HR 

High Rise 

Design (Style) 

in 

Interior Only Stairs 

Basement & Finished Rooms Below Grade 

Ind 

Industrial 

Location & View 

Listing 

Listing 

Sale or Financing Concessions 

Lndfl 

Landtill 

Location 

LtdSght 

Limited Sight 

View 

MR 

Mid-rise 

Design (Style) 

Min 

Mountain View 

View 

N 

Neutral 

Location & View 

NonArm 

Non-Arms Length Sale 

Sate or Financing Concessions 

0 

Other 

Basement & Finished Rooms Below Grade 

[i] 

Other 

Design (Style} 

op 

Open 

Garage/Carport 

Prk 

Park View 

View 

Pstrt 

Pastoral View 

View 

Pwiln 

Power Lines 

View 

PubTm 

Publis Transportation 

Location 

Relo 

Relocation Safa 

Sale or Financing Concessions 

REQ 

REQ Sales 

Sale or Financing Cuncesslons 

Res 

Residential 

Location & View 

RH 

USDA - Rural Housing 

Sale or Financing Concessions 

[id 

Recreational (Rec) Room 

Basement 

& Finished Ronis Below Grade 

RT 

Row or Townhouse 

Dasign {Style) 

s 

Settlement Date 

Date of Sale/Time 

$B 

Semi-detached Structure 

Design (Style) 

Short 

Short Sate 

Sale or Financing Concessions 

sf 

Square Feet 

Area, Site, Basement 

sqm 

Square Malers 

Area, Site 

Unk 

Unknawn 

Date of Sale/Time

Page 30

State License 

GHETOEN CITHER 

sever 

STATE 

OF MICHIGAN 

DEPARTHENT 

OF LICENSING 

AND REGULATORY AFFAIRS 

BUREAU 

OF PROFESSIONAL LICENSING 

CERTIFIED 

GENERAL 

REAL 

ESTATE APPRAISER LICENSE 

MICHAEL 

R COLLINS 

el 

EXSIRASTON DATE 

Das pocument spy 

HN 

Hr 

I 

TE

Page 31

Errors and Omissions Insurance Declarations Page 

Real Eslate Appraisers 

Errors and Omissions Policy 

Declarations 

Agency 

Branch 

Prefix 

Policy Number 

c Insurance is provided by 

onlinental 

Casualty 

Company, 

078980 

989 

| 

151 North Franklin Street, Chicago, IL 60606 

A Stock Insurance Company. 

1. 

NAMED INSURED AND MAILING ADDRESS: 

NOTICE TO POLICYHOLDERS: 

N 

N 

The Errors and Omissions Liability coverage 

Michael Collins Jr. 

afforded by this policy is on a Claims Made and 

33717 Woodward Ave, STE 105 

Reported basis. Claim Expenses will reduce the 

Birmingham, Mi 48009 

Limits of Liability. Please review the policy 

carefully and discuss this coverage with your 

insurance agent or broker. 

2. 

POLICY PERIOD: 

Inception: 05/03/2023 

Expiration: 05/03/2024 

at 12:01 AM. Standard time at your address shown above. 

3. 

ERRORS AND OMISSIONS LIABILITY: 

A. 

Limits of Liability: 

Each Claim: 

$1,000,000 

Aggregate: 

$2,000,000 

8. Discrimination Limits of Liability: 

$100,000 

C. Deductible: 

Each Claim: 

$1,000 

D. 

First Coverage Date: 

05/03/2020 

E. 

Prior Acts Date: 

05/03/2011 

4. 

PREMIUM 

Total Premium: 

$531.00 

5. 

FORMS AND ENDORSEMENTS ATTACHED AT INCEPTION: 

CNABBBI2XX 

Individual Real Estate Appraisers 

GSL7541M) 

Canceliation/Non-Renewal Endorsement - Michigan 

CNAQD097XX 

Vicarious Liability Endorsement

Page 32

Supplemental Addendum

File No. 0181017780

Bomowsr

Camelia Flores

Property Address

21794 Hampton St

City

Beverly Hills

County Oakland

State

Zp Code

48025

LendeyCleat

Lake Michigan Credit Union

« URAR: Subject - Sale/Listing History Amount, Date, Data Source & Record Number

According to Realcomp MLS#20240048779 the subject was fisted on 07/09/2024 for $899,000 by Jeffrey Higgins (Real Broker

LLC, 517/200-3245). The listing price was reduced on 07/18/2024 for $810,000, then again on 08/08/2024 fo $799,000. The

fisting status was changed to "accepting backup offers” on 08/17/2024. The property was placed back on the market on

08/24/2024. The listing status was changed to “accepting backup offers” on 09/05/2024.

* URAR: Subject - Contract Analysis

The Appraiser reviewed the subject's Purchase Agreement as provided by the Lender/Client. The Purchase Agreement is a

standard contract utilized by real estate agents and participants in the market. The contract is signed by both Buyer and Seller

parties. The Appraiser noted no unusual contingencies, inclusions or exclusions in the agreement. This appears to be an

arms-length sale between unrelated parties.

« URAR: Neighborhood - Boundaries

The subject neighborhood is considered to be the Village of Beverly Hills where roughly bounded by W. 14 Mile Rd. to the

Norih, Woodward (M-1) Ave. fo the East, W. 12 Mile Rd. to the South, and Telegraph (US-24) Rd. fo the West.

» URAR: Neighborhood - Description

The Village of Beverly Hills consists of four (4) square miles of area.

It is located in Oakland County, and is bounded by

Bloomfield Township, Beverly Hills, Southfield, and Franklin.

The Village of Beverly Hills had a population of 10,584 persons in 2020. This is a increase of 3.1%, from the 2010 population.

SEMCOG forecasts the 2050 population count fo be 10,768 parsons.

Total households within Beverly Hills equated to 4,071 in 2020. SEMCOG estimates the July, 2023 household count to be

4,123 units.

Housing units totaled 4,221 residences in 2020, indicating a growth rate of 0.2% from 2010. SEMCOG estimates the total

number of housing units as of July, 2023 to be 4,223 residences.

“Other” land uses indicated a 5% pertains to vacant lands, recreational, religious, and municipal uses.

* URAR: Neighborhood - Market Conditions

The Appraiser has completed a brief year-to-year analysis of the subject's sub-market of compating properties. The subject's

sub-market consists of homes which compete direcily. Competing properties were concluded to be single-family residential

homes offering competing quality of construction, 3,148 to 4,548 sq.ft., garage utility, constructed up to 2014, and site up to 2

acres in size. Qutlying properlies on each end of pricing were eliminated from the analysis including properties which were

poorly conditioned at time of purchase, properties offering superior amenities or properties which sold in atypical fashion.

This sub-market yielded an adequate of activity during the year-to-year comparison, Years are based on the effective date of the

assignment. The current year yielded 9 sales ($56,000-1,134,000) with a median sale price of $740,000 and median marketing

time of 22 days. The prior year yielded 13 sales ($380,950-$925,000) with a median sale price of $725,000 and median

marketing time of 7 days. Currently, there are 3 listings offered In this sub-market ($599,999-$397,500) with a median list price

of $829,000 with a list time of 38 days.

+ URAR: Sales Comparison Analysis - Summary of Sales Comparison Approach

Each of the comparables selected are competing homes offering relatively similar age, quality of construction, and utility as the

subject. Four comparables were selected. Three comparables are settled sales, while one comparable is a current listing.

The comparable are located within a 1.10 mile radius of the subject. Each are located within the Village of Beverly Hills,

Birmingham Public School District, and have similar access to shopping, dining, employment centers, recreation, and other like

amenilies and linkages.

Comparable #4 is a current listing. This comparable has been adjusted downward by 2.5% to account for the typical

negotiations which will prior to arriving at a settled sale price.

Comparable #3 has a significantly smaller site size than the subject, while comparable #4 has significantly larger site size. After

review of the market, in light of paired-sale principles, each of these comparables have been adjusted accordingly for this factor.

Comparable #1 warranted an inferior C4 UAD condition rating. Comparables #2 and #3 each shared the same C3 UAD

condition rating as the subject, but was deemed to be slightly superior to one degree or another. (There can be variances even

among the same broad UAD condition rating categories.) These determinations have been based upon my review of the MLS

fisting comments and photographs. Each of these comparables have been adjusted accordingly for this factor,

The comparables offer a strong physical resemblance with the subject. Each are homes offering similar functional utility. The

comparables bracket the subject's size and other physical elements. These properties warranted few adjustments. Other

adjustments are varying GLA, bathroom utility, and foundation design. GLA was adjusted at $50 / sq.fi. where variance exceeds

100 sq.ft, bathraoms were adjusted at $3,500 per half bathroom of variance, and basement foundations were adjusted at

Page 33

Building Sketch (Page - 1) 

Bomower 

Camelia Flores 

Property Address 

24794 Hampton St 

City 

Beverly Hills 

Gounly Oakland 

State 

M1 

Tp Gods 

48025 

Lender/Chent 

Lake Michigan Credit Union 

24" 

2-Car Attached Garage 

27.33" 

£E°LT 

bil 

21.09" 

24 

BA 

N 

© 

Patio 

- 

Den 

@ 

50° 

2! 

16.92" 

" 

Dining 

Bedroom 

Bath 

Kitchen 

$ 

Utitity 

Bath 

EN 

o 

Bath 

Ld 

Laundry 

8 

o 

Ca 

oye 

Bedroom 

Bedroom 

Foyer 

Living 

ET 

La 

Famity 

34 

3 

155° 

i 

~N I 

Open Porch 

27.75" 

TOTAL Sketch by 2 Ib mode 

Area Calculations Summary 

Living Area 

Calculation Detalls 

First Floor 

3186.51 5g ft 

05x 292x212 

2.25 

0.5% 2.12 x 2.12 

235 

475 x 2.12 

329x34 

2109 x 149 

27.75 x 6.25 

29.6 x 4.83 

32.9 x 41.25 

28x2 

Undefined Area 

0.095qR 

05x003x2 

= 

0.09 

‘Total Living Area (Rounded): 

3187 Sq ft

Page 34

Building Sketch (Page - 2) 

Bosower 

Camelia Flores 

Property Address 

21794 Hampton St 

City 

Beverly Hills 

County _Qaktand 

State 

Mil 

ZipCode 

48025 

Lender/Clent 

Lake Michigan Credit Union 

RRMA 

— 

34.6' 

fd 

- 

N 

~ 

Bedroom 

~ 

ul 

— 

Bath 

9' 

14' 

— 

» 

In 

pt 

i 

a 

11.5 

7. 

~ 

— 

St

Page 35

Appraisal Waiver/Receipt Form 

Flore: 

Date: September 

16, 

2024 

Low. [NR 

Lender: Lake Michigan Credit Union 

Borrower(s): Camelia Flores 

Property Address: 21794 HAMPTON ST, Beverly Hills, 

MI 48025 

You, the Borrower(s), are entitled to receive a copy of any and all appraisal and/or valuation report(s) conducted on the property 

referenced above, no later than three business days prior to the closing of your loan. 

You may elect to waive this requirement and receive a copy at closing, at least three business days prior to closing (except that you 

can waive this requirement at any time before closing for corrected appraisals and/or valuation reports which only contain clerical 

changes). Despite such waiver, you may still receive a copy prior to closing, if required by law. 

12 CFR § 1002.14(a) 

Election 

By signing below, you hereby elect to receive a copy of any and all subsequent appraisal and/or valuation reports concerning 

the subject property listed above, upon completion of such reports and valuations, but in no event less than three business days 

prior to the closing of your mortgage. 

To accommodate the scheduled closing date, you hereby elect to waive the timing requirements to receive a copy of any and all 

subsequent appraisal reports and valuations concerning the subject property listed above and that you are waiving such at least 

three business days prior to the closing of the loan, as indicated by the date below. You will obtain copies of such at the closing 

of the loan. You understand that, despite this waiver, copies may still be provided to you before closing, if required by law. 

To accommodate the scheduled closing date, you hereby elect to waive the timing requirements to receive a copy of any and all 

subsequent appraisal reports and valuations concerning the subject property listed above which only contain clerical changes. 

You will obtain copies of such at the closing of the loan. You understand that, despite this waiver, copies may still be provided 

to you before closing, if required by law. 

By signing below, you also acknowledge that you received a copy of any and all completed appraisal reports and valuations 

concerning the property listed above, as of the date listed below. You also acknowledge that you have not previously chosen to waive 

the timing requirements set forth in this Form, which would have applied to the types of appraisal reports and valuations provided. 

Camelia Flores 9/16/2024 07:34:07 PM MDT 

- BORROWER 

- 

Camelia 

Flores 

—- DATE 

-

Page 36

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