

Having spent his formative years in Newport Beach and honing his skills at Mater Dei High School and San Diego State University, Brian is as local as they come. His deep-rooted connection to this community drives his passion for providing an unparalleled level of service to his clients. As an active member of the Balboa Bay Club and mentor to young as a hyperlocal technologist to the fore. He harnesses cutting-edge prop-tech strategies, tailored to individual client needs, creating stress-free, successful real estate experiences for everyone he works with.
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accurately you price your home. Proper pricing increases the likelihood of attracting a larger pool of interested buyers.
TWO KEY INDICATORS WILL TELL US IF WE NEED TO ADJUST YOUR PRICING:
1 Ten days without a showing
2 Ten showings without an offer
The market will tell us very quickly if we have priced your home correctly. The question is whether or not we listen. If your home is initially overpriced and we later have to reduce the price, that means you are actually moving your price closer to REAL MARKET VALUE.
Averages
99.64%
Homes sold for an average of 99.64% of their list price.
15
It took an average of 15 days for a home to sell.
Analysis of the comparable proper ties suggests a list price of:
$1,450,000 $667 / sqft
S 6 Sold
$1,539,166 $710 / sqft $1,539,167 $710 / sqft
15 Days on Market
Disclaimer
The CMA is a side-by-side comparison of homes for sale and homes that have recently sold in the same neighborhood and price range. This information is fur ther sor ted by data Eelds such as single-family or condo, number of bedrooms, number of baths, postal codes, and many other factors. Its purpose is to show fair market value, based on what other buyers and sellers have determined through past sales, pending sales and homes recently put on the market.
The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of the subject property.
Public Record
Is the subject property currently offered for sale or has it been offered for sale in the twelve months prior to the effective date of this appraisal?
Report data source(s) used, offering price(s), and date(s).
PER CRMLS, THE SUBJECT HAS NOT BEEN LISTED WITHIN THE PAST TWELVE MONTHS.
I did did not 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 not performed.
there any financial assistance (loan charges, sale concessions, gift or downpayment assistance, etc.) to be paid by any party on behalf
If Yes, report the total dollar amount and describe the items to be paid.
Note: Race and the racial composition of the neighborhood are not appraisal factors.
(73) CORONA DEL MAR FRWY TO THE NORTH, IRVINE AVE TO THE EAST, 22ND ST TO THE SOUTH, AND NEWPORT BLVD TO THE WEST.
THE SUBJECT PROPERTY IS LOCATED WITHIN A NEIGHBORHOOD KNOWN AS MASTERS CIRCLE CONSISTING OF AVERAGE TO EXCELLENT QUALITY SINGLE FAMILY HOMES RANGING IN SIZE, QUALITY, AGE, AND AMENITIES. TRANSPORTATION, EMPLOYMENT, RECREATION AND CONSUMER SUPPORT FACILITIES ARE LOCATED NEARBY. NO ADVERSE CONDITIONS WERE NOTED AT THE TIME OF INSPECTION THAT WOULD NEGATIVELY AFFECT THE MARKETABILITY.
MARKETING TIME FOR REAL ESTATE IN THE SUBJECT'S PRICE RANGE IS CURRENTLY LESS THAN THREE MONTHS. SUPPLY IS LOW WITH A STEADY DEMAND RESULTING INCREASING OVERALL PROPERTY VALUES. SEE ATTACHED 1004MC. LOAN DISCOUNTS, INTEREST BUY DOWNS OR OTHER CONCESSIONS ARE NOT COMMON WITHIN THE SUBJECT'S MARKET AREA.
THE SUBJECT IS AN INTERIOR LOT LOCATED ON A CUL DE SAC RESIDENTIAL STREET. NO ADVERSE EASEMENTS, ENCROACHMENTS OR CONDITIONS WERE NOTED AT THE TIME OF INSPECTION. THE SUBJECT PROPERTY IS IMMEDIATELY SURROUNDED BY SIMILAR SINGLE FAMILY RESIDENCES RANGING IN SIZE, CONDITION, AND AMENITIES. THE SUBJECT HAS A GOLF COURSE, CITY AND RESIDENTIAL VIEW.
Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc.).
VINYL EXTERIOR DOORS / WINDOWS, TILE AND WOOD FLOORS THROUGHOUT, STONE COUNTERS, STAINLESS APPLIANCES, RECESSED LIGHTING, SMOOTH CEILINGS, STONE FIREPLACE SURROUNDS, MIRRORED WARDROBE DOORS, TILE DECK, AND CONCRETE PATIO. SEE PHOTOS. C3;Kitchen-remodeled-eleven to fifteen years ago;Bathrooms-remodeled-eleven to fifteen years ago;THE SUBJECT HAS BEEN REMODELED AND MAINTAINED IN AVERAGE OVERALL CONDITION. PHYSICAL DEPRECIATION NOTED FOR NORMAL WEAR AND TEAR. THE SUBJECT SUFFERS FROM DEFERRED MAINTENANCE; WATER DAMAGE IN INTERIOR CEILING AND GENERAL CLEANUP. NO FUNCTIONAL OR EXTERNAL INADEQUACIES WERE NOTED. TITLE, SOILS AND GEOLOGICAL REPORTS WERE NOT REVIEWED OR WARRANTED BY THE APPRAISER.
Are there any physical deficiencies or adverse conditions that affect the livability, soundness, or structural integrity of the property?
THERE WERE NO PHYSICAL DEFICIENCIES OR ADVERSE CONDITIONS NOTED AT THE TIME OF INSPECTION.
Does the property generally conform to the neighborhood (functional utility, style, condition, use, construction, etc.)?
THE SUBJECT APPEARS TO GENERALLY CONFORM TO THE NEIGHBORHOOD QUALITY, STYLE AND CONDITION.
There are comparable properties currently offered for sale in the subject neighborhood ranging in price from $ to $ There are comparable sales in the subject neighborhood within the past twelve months ranging in sale price from $ to $
not, explain
My research did did not reveal any prior sales or transfers of the subject property for the three years prior to the effective date of this appraisal. Data Source(s)
My research did did not reveal any prior sales or transfers of the comparable sales for the year prior to the date of sale of the comparable sale.
Report the results of the research and analysis of the prior sale or transfer history of the subject property and comparable sales (report additional prior sales on page 3).
Date of Prior Sale/Transfer
Price of Prior Sale/Transfer
Data Source(s)
Effective Date of Data Source(s)
Analysis of prior sale or transfer history of the subject property and comparable sales
ACCORDING TO COUNTY RECORDS, THE SUBJECT HAS NOT TRANSFERRED IN THE LAST THREE YEARS. ACCORDING TO COUNTY RECORDS, NONE OF THE COMPARABLE SALES HAD TRANSFERRED WITHIN ONE YEAR.
Summary of Sales Comparison Approach
SEE ATTACHED COMPARABLES AND ADDITIONAL COMMENTS.
Indicated Value by Sales Comparison Approach $
Indicated Value by: Sales Comparison Approach $ Cost Approach (if developed) $ Income Approach (if developed) $
THE DIRECT SALES COMPARISON APPROACH WAS GIVEN MOST WEIGHT IN THE FINAL ESTIMATE OF MARKET VALUE, AS IT ILLUSTRATES THE ACTIONS OF BUYERS AND SELLERS IN THE MARKET. COST APPROACH GIVEN SECONDARY CONSIDERATION DUE TO THE LIMITED LAND SALES IN THE AREA AND DIFFICULTY ESTIMATING ACCRUED DEPRECIATION. INCOME APPROACH WAS LIMITED AS THE AREA IS PREDOMINANTLY OWNER OCCUPIED WITH INSUFFICIENT DATA TO SUPPORT CREDIBLE RESULTS.
This appraisal is made "as is", subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have been completed, subject to the following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed, or subject to the following required inspection based on the extraordinary assumption that the condition or deficiency does not require alteration or repair:
THE APPRAISAL IS MADE IN "AS-IS" CONDITION. SEE THE ATTACHED ADDENDUMS.
Based on a complete visual inspection of the interior and exterior areas of the subject property, defined scope of work, statement of assumptions and limiting conditions, and appraiser's certification, my (our) opinion of the market value, as defined, of the real property that is the subject of this report is $ , as of , which is the date of inspection and the effective date of this appraisal. Freddie Mac Form 70 March 2005
Version 9/2011 Page 2 of 6
COST APPROACH TO VALUE (not required by Fannie Mae)
Provide adequate information for the lender/client to 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)
SITE VALUE WAS BASED ON THE EXTRACTION METHOD DUE TO A LACK OF LAND SALES. LAND VALUE RATIO TYPICAL FOR THIS LOCATION AND NEIGHBORHOOD.
ESTIMATED REPRODUCTION OR REPLACEMENT COST NEW
Source of cost data
Quality rating from cost service Effective date of cost data Comments
THE COST APPROACH TO VALUE, UTILIZED IN THIS REPORT WAS TAKEN FROM LOCAL BUILDERS AND ON LINE COST SOURCES. SITE VALUE IS TYPICAL FOR THE SUBJECTS MARKET AREA AND WAS DERIVED BY EXTRACTION. PHYSICAL DEPRECIATION IS CALCULATED BY THE AGE/LIFE METHOD BASED ON 70 YEARS. NO FUNCTIONAL OR EXTERNAL INADEQUACIES NOTED.
INCOME APPROACH WAS EXCLUDED AS THE AREA IS PREDOMINANTLY OWNER OCCUPIED WITH INSUFFICIENT DATA TO SUPPORT CREDIBLE RESULTS.
PROJECT INFORMATION FOR PUDs (if applicable)
Is the developer/builder in control of the Homeowners' Association (HOA)? Yes No Unit type(s) Detached Attached
Provide the following information for PUDs ONLY if the developer/builder is in control of the HOA and the subject property is an attached dwelling unit.
Legal Name of Project
Was the project created by the conversion of existing building(s) into a PUD? Yes No If Yes, date of conversion. Does the project contain any multi-dwelling units? Yes No Data Source
Are the units, common elements, and recreation facilities complete? Yes No If No, describe the status of completion.
Are the common elements leased to or by the Homeowners' Association? Yes No If Yes, describe the rental terms and options.
Describe common elements and recreational facilities. Freddie
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, definition of market value, statement of assumptions and limiting conditions, and certifications. Modifications, additions, or deletions 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 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 this 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 least 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 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 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 to 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 time is allowed for exposure in the open market; (4) payment is made in terms of cash in U. S. 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 tradition or law in a market 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 terms offered by a third party institutional lender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar 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 either the property 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 title 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 noted 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 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 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 deficiencies or adverse conditions of the property (such as, but not 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 no 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 to 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 his 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 will be performed in a professional manner.
APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that:
1. I have, at a minimum, developed and reported this appraisal in accordance with the scope of work requirements stated in this appraisal report.
2. I performed a complete visual inspection of the interior and exterior areas of the subject property. I reported the condition of the improvements in factual, specific terms. I identified and reported the physical deficiencies that could affect the 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 at the time this appraisal report was prepared.
4. I 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. I have adequate comparable market data to develop a reliable sales comparison approach for this appraisal assignment. I further certify that I considered the cost and income approaches to value but did not develop them, unless otherwise indicated in this report.
5. I 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. I 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. I selected and used comparable sales that are locationally, physically, and functionally the most similar to the subject property.
8. I 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.
9. I have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subject property and the comparable sales.
10. I verified, from 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. I have knowledge and experience in appraising this type of property in this market area.
12. I am aware of, and have access to, 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. I obtained the information, estimates, and opinions furnished by other parties and expressed in this appraisal report from reliable sources that I believe to be true and correct.
14. I 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 to adverse influences in the development of my opinion of market value. I 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 I became aware of during the research involved in performing this appraisal. I have considered these adverse conditions in my analysis of the property value, and have reported on the effect of the conditions on the value and marketability of the subject property.
15. I have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, all statements and information in this appraisal report are true and correct.
16. I 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. I have no present or prospective interest in the property that is the subject of this report, and I have no present or prospective personal interest or bias with respect to the participants in the transaction. I 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 I 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 the attainment of a specific result or occurrence of a specific subsequent event (such as approval of a pending mortgage loan application).
19. I personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report. If 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, I have named such individual(s) and disclosed the specific tasks performed in this appraisal report. I certify that any individual so named is qualified to perform the tasks. I 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 I will take no responsibility for it.
20. I identified the lender/client in this appraisal report who is the individual, organization, or agent for the organization that ordered and will receive this 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. I 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, I 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. I 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. I 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. APPRAISER
SUPERVISORY APPRAISER (ONLY IF REQUIRED)
ADDRESS OF PROPERTY APPRAISED
APPRAISED VALUE OF SUBJECT PROPERTY $
SUBJECT
Did
Did
Did
COMPARABLE SALES
Did not inspect exterior of comparable sales from street
Did inspect exterior of comparable sales from street
ALL COMPARABLES ARE LOCATED WITHIN THE SUBJECTS NEIGHBORHOOD BOUNDARIES AND DEEMED THE BEST AND MOST RECENT AVAILABLE. A LACK OF RECENT AND RELEVANT COMPARABLES MADE IT NECESSARY TO EXCEED THE PREFERRED 90 DAY / 6 MONTH GUIDELINES, 15% NET, AND 25% GROSS ADJUSTMENT RATIOS. THERE WERE NO OTHER MORE RECENT OR RELEVANT COMPARABLES AVAILABLE. GROSS LIVING AREA DIFFERENCES WERE CALCULATED AT $150.00[/], LOT SIZES AT $10.00[/], BATHROOMS AT $20,000 PER HALF, AND SOLAR AT $25,000; ALL BASED ON MATCHED PAIRED SALES ANALYSIS. COMPARABLES ONE AND FOUR ARE SUPERIOR IN TERMS OF CONSTRUCTION QUALITY. COMPARABLES ONE, TWO AND FOUR ARE SUPERIOR IN TERMS OF CONDITION. COMPARABLES TWO, THREE AND FOUR HAVE INFERIOR LOCATIONS AND ADJUSTED ACCORDINGLY. THE STATISTICS FROM THE 1004MC AND COMPARABLES UTILIZED INDICATED INCREASING OVERALL PROPERTY VALUES WITHIN THE NEIGHBORHOOD MAKING TIME ADJUSTMENTS NECESSARY AND CALCULATED AT +0.25% PER MONTH FROM THE CONTRACT DATES.
There is no predominant value in the subject neighborhood; the median neighborhood value is reported on page one. The subject’s value is below the neighborhood predominant (or median) price due to its features/finishes/amenities being inferior to most other homes in the neighborhood. Although not equal to the predominant (or median) price, the subject’s value does fit within the neighborhood price range. The subject’s value being below the neighborhood predominant (or median) price has no effect on marketability.
The subject property did not appear to have any damage from any 2017 / 2018 / 2020 FEMA disasters that effected parts of Southern California.
The appraiser’s comparable search parameters began with an MLS search for single family homes sold within the prior three months and located within ½ mile from the subject property. Due to a lack of recent sale activity, the comparable search parameters were extended to 1.5 miles and 12 months from the effective date of appraisal. The comparable sales used in the appraisal were the most recent and overall similar sales.
HIGHEST AND BEST USE: Considering the subjects current zoning and general plan designation for the subject property, the subjects current use is the highest and best use. No other use, as improved or vacant would be legally permissible and maximally productive. (1) legally permissible YES (2) physically possible YES (3) financially feasible YES and (4) most profitable YES.
THE SUBJECT PROPERTY WAS MEASURED ACCORDING TO THE ANSI STANDARD.
The purpose of this addendum is to provide the lender/client with a clear and accurate understanding of the market trends and conditions prevalent in the subject neighborhood. This is a required addendum for all appraisal reports with an effective date on or after April 1, 2009.
Borrower
Instructions: The appraiser must use the information required on this form as the basis for his/her conclusions, and must provide support for those conclusions, regarding housing trends and overall market conditions as reported in the Neighborhood section of the appraisal report form. The appraiser must fill in all the information to the extent it is available and reliable and must provide analysis as indicated below. If any required data is unavailable or is considered unreliable, the appraiser must provide an explanation. It is recognized that not all data sources will be able to provide data for the shaded areas below; if it is available, however, the appraiser must include the data in the analysis. If data sources provide the required information as an average instead of the median, the appraiser should report the available figure and identify it as an average. Sales and listings must be properties that compete with the subject property, determined by applying the criteria that would be used by a prospective buyer of the subject property. The appraiser must explain any anomalies in the data, such as seasonal markets, new construction, foreclosures, etc.
Explain in detail the seller concessions trends for the past 12 months (e.g., seller contributions increased from 3% to 5%, increasing use of buydowns, closing costs, condo fees, options, etc.).
The CRMLS MLS indicates there were 79 closed sales during the past 12 months and 22 of those sales contained seller concessions which is 28% of the total transactions in this market area. Prior Months 7-12: 39 Sales; 10 with concessions; 26% of sales for this period. 4-6: 18 Sales; 7 with concessions; 39% of sales for this period. 0-3: 22 Sales; 5 with concessions; 23% of sales for this period. The concessions ranged between -$13,000 and $80,000. The median concession amount is $10,000.
Are foreclosure sales (REO sales) a factor in the market? Yes No If yes, explain (including the trends in listings and sales of foreclosed properties).
The CRMLS MLS indicates there were 79 closed sales during the past 12 months and 1 of those sales were either foreclosures or short sales which is 1% of the total transactions in this market area. Prior Months 7-12: 39 Sales; 0 foreclosures or short sales; 0% of sales for this period. 4-6: 18 Sales; 1 foreclosures or short sales; 6% of sales for this period. 0-3: 22 Sales; 0 foreclosures or short sales; 0% of sales for this period.
Cite data sources for above information.
The CRMLS MLS was the data source used to complete the Market Conditions Addendum.
Summarize the above information as support for your conclusions in the Neighborhood section of the appraisal report form. If you used any additional information, such as an analysis of pending sales and/or expired and withdrawn listings, to formulate your conclusions, provide both an explanation and support for your conclusions.
Search parameters: Condominiums within the defined neighborhood boundaries since 06/15/2022. Pending sales, expired and withdrawn listings were also included in the conclusion.
If the subject is a unit in a condominium or cooperative project , complete the following:
Are foreclosure sales (REO sales) a factor in the project? Yes No If yes, indicate the number of REO listings and explain the trends in listings and sales of foreclosed properties.
Summarize the above trends and address the impact on the subject unit and project.
Possession of this appraisal report, or a copy thereof, does not carry with it the right of publication. It may not be used for any other purpose or person other than the party to whom it was addressed without the written consent of the appraiser, and in any event only the proper written qualification and only in its entirety.
APPRAISER INDEPENDENCE COMPLIANCE STATEMENT:
No employee, director, officer, or agent of the lender, or any other third party acting as a joint venture partner, independent contractor, appraisal management company, or partner on behalf of the Lender has influenced or attempted to influence the development, reporting, result, or review of this assignment through coercion, extortion, collusion, compensation, instruction, inducement, intimidation, bribery or in any other manner. I have not been contacted by anyone other than the intended user (Lender/Client as identified on the first page of the report), borrower, or designated contact to make an appointment to enter the property. I agree to immediately report any unauthorized contacts personally either by phone or electronically to the Client. This appraisal is completed in accordance with standard and current Appraiser Independence Policies and the Uniform Standards of Professional Appraisal Practice.
APPRAISERS FIELD INSPECTION:
The appraisal is not a home inspection report and should not be relied upon to report the condition of the subject property being appraised. The subjects electrical, plumbing, roof, foundation, soils condition, etc. were not inspected further than HUD Standards 4150.2 because the appraiser is not an expert in these fields and only had limited inspection. It is assumed there are no structural defects hidden by floor or wall coverings or any other hidden or unapparent conditions of the property. The appraiser does not have the experience or training to make such inspections. The appraiser assumes no responsibility for these items. This appraisal is incomplete and void without all attached addendums. There was no evidence of mold or infestation issues at the time of inspection, however, appraiser is not an expert in this field and offers no opinion or warranties concerning mold. The subjects soil and landscaping was not inspected by the appraiser for potential dangers such as hazardous material or landslide / slippage potential. Appraiser is not an expert in this field and offers no opinion. It is recommended hiring a professional licensed geologist to determine the condition of the above mentioned items.
EXPOSURE TIME / MARKETING TIME:
The reasonable exposure time inherent in the market value concept is always presumed to precede the effective date of the appraisal. Exposure time is the estimated length of time the subject property would have been offered on the market prior to the hypothetical completion of a sale at the market value on the effective date of the appraisal. The estimated exposure time developed is consistent with marketing time previously noted . Exposure time is derived from CRMLS and market data. The appraiser's opinion of reasonable exposure time is the basis of the opinion of value for the subject property. Marketing time looks into the future; hence exposure time is used. The estimated exposure time is based on CRMLS and market data.
The estimated marketing time for the subject property at the appraised value is consistent with the estimated marketing time for the subject's neighborhood. Marketing time looks into the future and is estimated based on market data, newspaper articles, supply and demand trends, and interviews with local real estate agents.
DIGITAL SIGNATURE:
The software utilized by the appraiser to generate the appraisal protects signature security, by means of a digital signature security feature for each appraiser signing the appraisal report. Each appraiser maintains sole control of their related signature through password protection.
The software contains the following security measures:
* Identifies transmission errors during the transmission process.
* Confirms date, time and quantity of data transmitted by the appraiser, and confirms that the transmission was received by the intended client.
* Secures data from editing by means of a password, that remains in the sole control of the transmitting appraiser.
STATEMENT OF ASSUMPTIONS & LIMITING CONDITIONS:
* The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it. The appraiser assumes that the title is good and marketable and, therefore, will not render any opinions about the title. The property is appraised on the basis of it being under responsible ownership.
* The appraiser may have provided a sketch in the appraisal report to show approximate dimensions of the improvements, and any such sketch is included only to assist the reader of the report in visualizing the property and understanding the appraiser's determination of its size. The sketch is provided as a visual aid only and is not to scale. Any variation between actual square footage and measured square footage could be due to hand measuring and rounding. A Land Survey was not performed.
* If so indicated, the appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted in the appraisal report whether 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. 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 to do so have been made beforehand.
* If the cost approach is included in this appraisal, the appraiser has estimated the value of the land in the cost approach at its highest and best use, and the improvements at their contributory value. These separate valuations of the land and improvements must not be used in conjunction with any other appraisal and are invalid if they are so used. Unless otherwise specifically indicated, the cost approach value is not an insurance value, and should not be used as such.
* The appraiser has noted in the appraisal report any adverse conditions (including, but not limited to, needed repairs, depreciation, the presence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property, or that he or she became aware of during the normal research involved in performing the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden or unapparent conditions of the property, or adverse environmental conditions (including, but not limited to, the presence of hazardous wastes, toxic substances, etc.) that would make the property more or less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or implied, regarding the condition of the property. The appraiser will not be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the field of environmental hazards, the appraisal report must not be considered as an environmental assessment of the property.
* The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that he or she considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracy of such items that were furnished by other parties.
* The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional Appraisal Practice, and any applicable federal, state or local laws. *If this appraisal is indicated as subject to satisfactory completion, repairs, or alterations, the appraiser has based his or her appraisal report and valuation conclusion on the assumption that completion of the improvements will be performed in a workmanlike manner.
* An appraiser's client is the party (or parties) who engage an appraiser in a specific assignment. Any other party acquiring this report from the client does not become a party to the appraiser-client relationship. Any persons receiving this appraisal report because of disclosure requirements applicable to the appraiser's client do not become intended users of this report unless specifically identified by the client at the time of the assignment.
* The appraiser's written consent and approval must be obtained before this appraisal report can be conveyed by anyone to the public, through advertising, public relations, news, sales, or by means of any other media, or by its inclusion in a private or public database.
* An appraisal of real property is not a 'home inspection' and should not be construed as such. As part of the valuation process, the appraiser performs a non-invasive visual inventory that is not intended to reveal defects or detrimental conditions that are not readily apparent. The presence of such conditions or defects could adversely affect the appraiser's opinion of value. Clients with concerns about such potential negative factors are encouraged to engage the appropriate type of expert to investigate.
* The appraiser was not provided nor examined the title report or other legal documents. Unless otherwise noted, no adverse easements, liens, or encroachments were noted at time of inspection; or on the plat map provided by public records. The appraiser is not a legal expert, he or she makes no guarantees, express or implied, regarding the existences of any liens, easements, or encroachments. If any adverse factors are found after the completion of the appraisal;if found to be false, report results could be affected.
The Scope of Work is the type and extent of research and analyses performed in an appraisal assignment that is required to produce credible assignment results, given the nature of the appraisal problem, the specific requirements of the intended user(s) and the intended use of the appraisal report. Reliance upon this report, regardless of how acquired, by any party or any use, other than those specified in this report by the Appraiser, is prohibited. The Opinion of Value that is the conclusion of this report is credible only within the context of the Scope of Work, Effective Date, the Date of Report, the Intended User(s), the Intended Use, the stated Assumptions and Limiting Conditions, any Hypothetical Conditions and/or Extraordinary Assumptions, and the Type of Value, as defined herein. The appraiser, appraisal firm, and related parties assume no obligation, liability, or accountability, and will not be responsible for any unauthorized use of this report or its conclusions.
The appraisal process consists of a series of steps for defining and determine the scope of work.
1. A search of the relevant data sources was made to determine market trends, influences, and other significant factors pertinent to the subject property.
2. An interior and exterior inspection of the subject property was performed. Although due diligence was exercised while at the property, the appraiser is NOT an expert in such matters as pest control, structural engineering, building codes, electrical, plumbing, heating, soils, hazardous waste, etc. and no warranty is given or implied as to these elements. As needed, inspections by various professionals within these fields may be required at lender's discretion.
3. A more detailed review of the collected data was then performed with the most relevant factors extracted and considered. Sales were examined and confirmed closed from material provided by one or more service(s) that obtain information form public records.
4. The appraisal report was completed in accordance with standards dictated by the USPAP. This appraisal report includes sufficient data & information needed to lead a reader to a similar conclusion of market value.
5. The appraisal report was delivered to the client which constitutes completion of the assignment.
This summary report is intended to comply with the reporting requirements set forth by the Uniform Standards of Professional Appraisal Practice (USPAP). This report presents a summary of the data, reasoning, and analysis used in the appraisal process to develop the value opinion. Supporting documentation concerning the data, reasoning, and analysis has been retained in my work file. Sources of data include the California regional multiple listing service, CoreLogic, local brokers, Realist, and public records.
Soils, CC&R's, & Title reports were not provided to nor reviewed by the appraiser.
The specific data (lot sizes, year built, etc.) for the subject property and comparables was derived from previous appraisal files, public records, CRMLS, and/or local agents. This information is assumed to be correct, but is not guaranteed by the appraiser. If found to be false, report results could be affected.
GROSS LIVING AREA:
Gross living area used in this report is from the appraisers measures and sketch attached.
CoreLogic uses public records from many sources. These sources include mls listings from real estate agents; county records that maybe out of date or incorrect. These sources may include garages, stairway/open areas, decks, patios, etc. Hence the gla used in this appraisal does not always match the public records, building permits, architects plans, or CoreLogic.
Appraisers are required to measure to the outside of the exterior walls; per ANSI Z765-2003 (American National Standards Institute).
LIENS, EASEMENTS, LAWSUITS, OR ENCROACHMENTS:
No adverse easements, encroachments, lawsuits, or liens were noted or reported to the appraiser at time of inspection. This information is not readily available to appraisers. The appraiser is not a legal expert, I/we make no guarantees, express or implied, regarding the existence of any liens, easements, lawsuits, or encroachments. If any adverse factors are found after the completion of the appraisal;if found to be false, report results could be affected.
EXTRAORDINARY ASSUMPTIONS:
It is assumed that all structures given value in this report are legally permitted as stated in this report. That the subject and comps are connected to the public sewer. The land is assumed to have no unknown geological or environmental issues. That the foundation is sound and typical for this market.
The physical characteristics of the comparables, which were verified through Corelogic which uses County records, CRMLS, city permits, and or homeowner verification, is assumed to be as stated. The zoning, age, and physical characteristics of the subject are assumed to be as stated. If found to be false, report results could be affected.
An assumption is a statement or condition which is presumed or assumed to be true and from which a conclusion can be drawn. USPAP defines an assumption as "that which is taken to be true". An extraordinary assumption is an assumption which if found to be false, report results could be affected.
A hypothetical condition is an assumption made contrary to fact, but which is assumed for the purpose of discussion, analysis, or formulation of opinions. A hypothetical condition assumes a condition which is known to be contrary to fact whereas an extraordinary assumption assumes a condition or a fact which is merely unknown or uncertain. The results of an analysis involving any hypothetical conditions are known to not be reflective of what exists because the assumptions on which they are predicated are contrary to fact. The results of an analysis involving extraordinary assumptions are only potentially not reflective of what exists to the extent of the uncertainty underlying the assumptions on which the analysis or opinions are predicated.
MLS photos may have been used for some of the comparables due to people being located in front at the time of exterior inspection or other matters that prevented the photo from being taken, All comparables have been driven by and the exterior has been inspected. MLS photos may be used in this appraisal report due to inaccessibility, clarity, obstruction and people. MLS photos are considered accurate and relevant.
This Appraisal Report is one of the following types:
Appraisal Report This report was prepared in accordance with the requirements of the Appraisal Report option of USPAP Standards Rule 2-2(a).
Restricted Appraisal Report This report was prepared in accordance with the requirements of the Restricted Appraisal Report option of USPAP Standards Rule 2-2(b). The intended user of this report is limited to the identified client. This is a Restricted Appraisal Report and the rationale for how the appraiser arrived at the opinions and conclusions set forth in the report may not be understood properly without the additional information in the appraiser's workfile.
I certify that, to the best of my knowledge and belief:
The statements of fact contained in this report are true and correct.
The report analyses, opinions, and conclusions are limited only by the reported assumptions and are my personal, impartial, and unbiased professional analyses, opinions, and conclusions.
I have no (or the specified) present or prospective interest in the property that is the subject of this report and no (or specified) personal interest with respect to the parties involved.
I 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. This appraisal report was prepared in accordance with the requirements of Title XI of FIRREA and any implementing regulations.
PRIOR SERVICES
I have NOT performed 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.
I HAVE performed services, as an appraiser or in another capacity, regarding the property that is the subject of this report within the three-year period immediately preceding acceptance of this assignment. Those services are described in the comments below.
PROPERTY INSPECTION
I have NOT made a personal inspection of the property that is the subject of this report.
I HAVE made a personal inspection of the property that is the subject of this report.
APPRAISAL ASSISTANCE
Unless otherwise noted, no one provided significant real property appraisal assistance to the person signing this certification. If anyone did provide significant assistance, they are hereby identified along with a summary of the extent of the assistance provided in the report.
ADDITIONAL COMMENTS
Additional USPAP related issues requiring disclosure and/or any state mandated requirements:
APPRAISER SUPERVISORY APPRAISER (ONLY IF REQUIRED)
This report was prepared under the following USPAP reporting option: Appraisal Report This report was prepared in accordance with USPAP Standards Rule 2-2(a). Restricted Appraisal Report This report was prepared in accordance with USPAP Standards Rule 2-2(b).
Reasonable Exposure Time
My opinion of a reasonable exposure time for the subject property at the market value stated in this report is:
Additional Certifications
I certify that, to the best of my knowledge and belief:
I have NOT performed 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.
I HAVE performed services, as an appraiser or in another capacity, regarding the property that is the subject of this report within the three-year period immediately preceding acceptance of this assignment. Those services are described in the comments below.
- 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 limiting conditions and are my personal, impartial, and unbiased professional analyses, opinions, and conclusions.
- Unless otherwise indicated, I 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.
- I 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, I 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 stated elsewhere in this report).
Additional Comments
BUILDING PERMITS: The property appraised, unless otherwise noted, is assumed to have been constructed with proper building permits for all improvements, including any modifications or additions. The appraiser(s) does not, however, warrant that proper building permits are or are not on file. The availability of building permits vary from city to city. Therefore, when observed, modifications are commented on in the appraisal report as to quality and design. Unless otherwise stated, the appraiser(s) assumes them to be permitted. It is recommended that lenders, buyers or other concerned parties follow through by requesting copies of the permits for the owner, seller or property. Unless otherwise noted, the appraiser(s) assumes the property appraised to have all necessary building permits.
SEWER AND SEPTIC TANKS: Unless otherwise noted, the property appraised is assumed to be connected to the municipal sewer system. This connection is underground and not visible to the appraiser. The vast majority of homes in the metropolitan area are connected to a sewer, but isolated instances of older properties on septic tanks do exist. Contacting the public agency regarding this connection is not part of the appraisal process in metropolitan areas. If concerned about this factor, the client is urged to contact the appropriate municipal agency.
FLOOD ZONE: Flood data reported in the appraisal report was obtained for the FEMA; and a "NO" designation in the "FEMA FLOOD HAZARD" section of the report does not mean that the property cannot suffer damage from flooding.
EARTHQUAKES: Since earthquakes are common in the area, no responsibility is assumed due to their possible effect on individual properties.
I CERTIFY TO THE BEST OF MY KNOWLEDGE AND BELIEF: The statements of fact contained in this report are true and correct. The report analysis, opinions and conclusions are limited by the reported assumptions and limiting conditions, and are my personal unbiased professional analysis, opinions, and conclusions.
The purpose of this report is to estimate the market value of the subject property, as defined herein. The opinion of market value is to be used solely by the Owner for private purposes and is not intended for any other purpose or party.
1) A preliminary search of the relevant data sources was made to determine market trends, influences, and other significant factors pertinent to the subject property. 2) Unless otherwise stated, an interior and exterior inspection of the subject property was performed. Although due diligence was exercised while at the property, the appraiser is NOT an expert in such matters as pest control, structural engineering, building codes, electrical, plumbing, heating, soils, hazardous waste, etc. and no warranty is given or implied as to these elements. As needed, inspections by various professionals within these fields may be required at the lenders discretion. 3) A more detailed review of the collective data was then performed with the most relevant factors extracted and considered. Sales were examined and confirmed closed from material provided by one or more service(s) that obtain information from public records. 4) The appraisal report was completed in accordance with standards dictated by the USPAP. 5) Soils, CC&R's, and Title reports were not provided to nor reviewed by the appraiser unless otherwise noted within the appraisal report.
Intended Use / Intended User
INTENDED USE: The intended use is to evaluate the property that is the subject of this appraisal for private purposes, subject to the stated scope of work, purpose of the appraisal, reporting requirements of this appraisal report form, and definition of market value. No additional intended uses are allowed.
INTENDED USER: The intended user of this appraisal report is the Owner. The client is the Owner as identified on page one in the subject section of the form. This appraisal may not be used or relied upon by anyone other than the client, borrower and/or assigns. Appraiser identifies no other users.
History of Property
Current listing information:
Unless otherwise stated, the subject property is not currently listed, per MLS, nor has been listed within the past twelve months. See body of appraisal for sales and listing history of the subject and comparables.
Prior sale:
Unless otherwise stated, the subject property has not sold within the past three years, per County Records and MLS. See body of appraisal for sales and listing history of the subject and comparables.
Exposure Time / Marketing Time
Exposure time is deemed to expire as of the effective date the appraisal - it examines the time frame leading up to the date of valuation, linking the value estimate to how long the property would have required exposure in order to sell at the estimated market value. Marketing time is deemed to start at the effective date of the appraisal, looking forward in time. It is a prediction of how long a property would require exposure to a competitive and open market in order to find a buyer, under either typical or prescribed circumstances.
Personal (non-realty) Transfers
No personal property considered in the final estimate analysis unless otherwise stated within the body of the report.
Additional Comments
Please note that there are many areas of the residence that we do NOT inspect do to insufficient accessibility. Although we conduct a visual inspection, we do not deface walls and/or floor coverings, nor do we remove bathroom or kitchen appliances/fixtures. We do not inspect crawl spaces, wall spaces, or attics. These areas are not accessible to the appraiser and inspection of these areas, and areas similar to these are not checked by use of ladders or drilling holes, as it is not part of the appraisal process. We do not claim to be experts in foundation, soils, plumbing, electrical, insulation, and/or infestation. The property is assumed to be free of significant termite or other infestations, structural defects, foundation problems, building code violations, access easements, utility or sewer easements, drainage problems, and unsafe conditions unless otherwise noted in the report. It is also assumed that all heating, plumbing, electrical, mechanical systems, and roof are in adequate working order. Unless otherwise noted in the report, the appraiser observed no noticeable problems in this regard. If concerned about these factors, the client is urged to seek outside expert opinions. The value estimated in the report is based on the assumption that the property is not negatively affected by the existence of hazardous substances. Unless otherwise stated in the body of the appraisal, the appraisers routine inspection of and inquires about the subject property did not develop any information that indicated any apparent hazardous substances which would affect the property negatively. It's possible that tests and inspections made by a qualified hazardous material or soils expert would reveal the existence of detrimental factors that would have a negative affect on value. No responsibility is assumed for any environmental conditions or for any expertise or engineering knowledge required to discover them. The visual effort made by the appraiser is for the use of the financial institutions internal purposes and results are not any form of assurance or not assurance to any as to the existence or nonexistence of hazardous or toxic substances. The Lender is the Client and is identified in the appraisal report (page one of the URAR 1004 form). The appraiser(s) opinion of value is the most probable price in terms of cash or financial arrangements equivalent to cash, as of the effective date of the appraisal. The effective date of this appraisal report is indicated on the bottom of the form as the date of the physical inspection of the property, unless otherwise noted in the appraisal addenda.
FIRREA Certification Statement:
The appraiser certifies and agrees that this appraisal was prepared in accordance with the requirements of Title XI of the Financial Institutions, Reform, Recovery, and Enforcement Act (FIRREA) of 1989, as amended (12 U.S.C. 3331 et seq.), and any applicable implementing regulations in effect at the time the appraiser signs the appraisal certification.
Certification Supplement
1. This appraisal assignment was not based on a requested minimum valuation, a specific valuation, or an approval of a loan.
2. My compensation is not contingent upon the reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value estimate, the attainment of a stipulated result or the occurrence of a subsequent event.
Appraiser(s): Effective date / Report date:
SHAWN HOWARD 06/15/2023
Supervisory Appraiser(s): Effective date / Report date:
(Source: Fannie Mae UAD Appendix D: UAD Field-Specific Standardization Requirements)
C1
The improvements have been recently constructed and have not been previously occupied. The entire structure and all components are new and the dwelling features no physical depreciation.
Note: 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 rehabilitated/remanufactured into like-new condition. Improvements that have not been previously occupied 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).
C2
The improvements feature no deferred maintenance, little or no physical depreciation, and require no repairs. Virtually all building components are new or have been recently repaired, refinished, or rehabilitated. All 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 similar in condition to new construction.
Note: The improvements represent a relatively new property that is well maintained with no deferred maintenance and little or no physical depreciation, or an older property that has been recently completely renovated.
C3
The improvements are well maintained and feature limited 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.
Note: The improvement is in its first-cycle of replacing short-lived building components (appliances, floor coverings, HVAC, etc.) and is being well maintained. Its estimated effective age is less than its actual age. It also may reflect a property in which the majority of short-lived building components have been replaced but not to the level of a complete renovation.
C4
The improvements feature some minor deferred maintenance and physical deterioration due to normal wear and tear. The dwelling has been adequately maintained and requires only minimal repairs to building components/mechanical systems and cosmetic repairs. All major building components have been adequately maintained and are functionally adequate.
Note: The estimated effective 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 short-lived building components are at or near the end of their physical life expectancy; however, they still function adequately. Most minor repairs have been addressed on an ongoing basis resulting in an adequately maintained property.
C5
The improvements feature obvious deferred maintenance and are in need of some significant repairs. Some building components need repairs, rehabilitation, or updating. The functional utility and overall livability is somewhat diminished due to condition, but the dwelling 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-lived building components are at the end of or have exceeded their physical life expectancy but remain functional.
C6
The improvements have substantial damage or deferred maintenance with deficiencies or defects that are severe enough to affect the safety, 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 repairs are needed to the improvements due to the lack of adequate maintenance or property damage. It reflects a property with conditions severe enough to affect the safety, soundness, or structural integrity of the improvements.
Q1
Dwellings with 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 architectural 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.
Q2
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 also 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.
UAD Version 9/2011 (Updated 1/2014)
(Source: Fannie Mae UAD Appendix D: UAD Field-Specific Standardization Requirements)
Q3
Dwellings with this quality rating are residences of higher quality built from individual or readily available designer plans in above-standard residential tract developments or on an individual property owner’s site. The design includes significant exterior ornamentation 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.
Q4
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 some exterior ornamentation and interior refinements. Materials, workmanship, finish, and equipment are of stock or builder grade and may feature some upgrades.
Q5
Dwellings with this quality rating feature economy of construction and basic 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 ornamentation and limited interior detail. These dwellings meet minimum building codes and are constructed with inexpensive, stock materials with limited refinements and upgrades.
Q6
Dwellings 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 only 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 or non-conforming additions to the original structure
Not Updated
Little or no updating or modernization. This description includes, but is 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 of 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 necessarily imply deferred maintenance or physical/functional 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 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 alterations. These alterations may include some or all of the following: replacement of a major component (cabinet(s), bathtub, or bathroom tile), relocation of plumbing/gas fixtures/appliances, significant structural alterations (relocating walls, and/or the addition of) square footage). This would include a complete gutting and rebuild.
Three-quarter baths are counted as a full bath in all cases. Quarter baths (baths that feature only a toilet) 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 count is 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.
UAD Version 9/2011 (Updated 1/2014)
(Source: Fannie Mae UAD Appendix D: UAD Field-Specific Standardization Requirements)
Client: Hishan Korraa
Realtor:
Inspection Address: 149 The Masters Cir, Costa Mesa, CA 92627
Inspection Date: 08/01/2023
Inspected By: Gio Filomeno
This inspection Summary Report is intended to provide a convenient and cursory preview of the conditions and components that we have identi ed It is obviously not comprehensive, and should not be used as a substitute for reading the entire report, nor is it a tacit endorsement of the condition of components or features that may not appear in this summary. Also, the service recommendations that we make in this summary and throughout the report should be completed well before the close of escrow by licensed specialists, who may well identify additional defects or recommend some upgrades that could a ect your evaluation of the property.
This report is the exclusive property of the Inspection Company and the client whose name appears herewith, and its use by any unauthorized persons is prohibited.
Components and Conditions Needing Service
3 6 1 GROUNDS - Fences/Gates: Gate removed
4.1.1 EXTERIOR - Exterior Walls: Stucco nish damaged
4.2.1 EXTERIOR - Exterior Trim: Moisture/insect damage
4 4 1 EXTERIOR - Chimney: Spark arrestor not installed
4 7 1 EXTERIOR - GFCI Protection: Exterior electrical receptacles not 'GFCI' protected
6.2.1 ROOF SYSTEM - Roo ng condition: Roo ng system - Aging and wear - complete evaluation
6 2 2 ROOF SYSTEM - Roo ng condition: Cracked, damaged, broken, or slipped tiles
6 4 1 ROOF SYSTEM - Roof Flashings and Penetrations: Improperly installed ashings
7.2.1 PLUMBING - Main Water Supply: Water supply shut o
8.5.1 WATER HEATER - Fuel System: Sediment trap not installed at water heater gas supply
8 6 1 WATER HEATER - Strapped/Braced: Water heater not braced against wall
8.12.1 WATER HEATER - Expansion tank: Expansion tank bladder not charged
9.2.1 HEATING & COOLING - Furnace operation: Furnace in use beyond life expectancy - Functional
9 2 2 HEATING & COOLING - Furnace operation: Blower motor dirty
9.4.1 HEATING & COOLING - Fuel System: Sediment trap not installed at furnace gas supply
Inspection
exclusively for Hishan Korraa
9.7.1 HEATING & COOLING - Air Distribution System: Disconnected ducting in attic
9.8.1 HEATING & COOLING - Furnace Air Filters: Air lter not installed
9 10 1 HEATING & COOLING - Thermostat operation: Furnace did not respond to controls
9.12.1 HEATING & COOLING - Air Conditioning installation and operation: Air Conditioning condenser in use beyond life expectancy - Functional
9.13.1 HEATING & COOLING - Air Conditioning electrical: Electrical disconnect fuses disconnected
10 3 1 ELECTRICAL - Electrical Conductors: Aluminum wiring
10.5.1 ELECTRICAL - Doorbell: Doorbell inoperable
10.6.1 ELECTRICAL - Electrical Notes: Light(s) did not respond to switches
10 6 2 ELECTRICAL - Electrical Notes: Cover plates not installed
11.2.1 INTERIOR - Exterior doors: Sliding screen material damaged
11.3.1 INTERIOR - Interior Doors: Damaged door
11 3 2 INTERIOR - Interior Doors: Door rubs on frame
11 4 1 INTERIOR - Windows: Failed glass seals
11.4.2 INTERIOR - Windows: Broken glass
11 4 3 INTERIOR - Windows: Window screens removed
11 4 4 INTERIOR - Windows: Tinting lm applied to glass
11.6.1 INTERIOR - Interior Walls: Damaged drywall
11.6.2 INTERIOR - Interior Walls: Paint peeling
11 7 1 INTERIOR - Ceilings: Moisture staining and damage
11.8.1 INTERIOR - Ceiling Fans: Ceiling fan did not respond to controls
11.9.1 INTERIOR - Fireplace - Family room: Damper not permanently open
11 12 1 INTERIOR - Interior Stair Handrails/Guardrails: Guardrail Openings too large
11.13.1 INTERIOR - Smoke Alarm: Additional smoke alarms required - Multi-level
11.14.1 INTERIOR - Carbon Monoxide Alarm: Carbon monoxide alarm required - single level
11 15 1 INTERIOR - Laundry utilities: Natural gas service red tagged by gas company
11.16.1 INTERIOR - Attic: Moisture staining on roof sheathing and/or framing
11.16.2 INTERIOR - Attic: Minimal Insulation
12 3 1 KITCHEN & APPLIANCES - Kitchen Sink Plumbing: Air gap not installed
12.5.1 KITCHEN & APPLIANCES - Dishwasher: Dishwasher racks damaged
12.6.1 KITCHEN & APPLIANCES - Ranges/Ovens/Cooktops: Electric ignition inoperable
12 8 1 KITCHEN & APPLIANCES - Microwave Oven: Microwave oven inoperable
12.9.1 KITCHEN & APPLIANCES - Kitchen cabinets: Moisture staining within cabinet
12.13.1 KITCHEN & APPLIANCES - GFCI Devices: Kitchen countertop receptacles not 'GFCI' protected
13 3 1 BATHROOM - Lower level Hallway - Sink Plumbing: Drain stopper - not functional
13 4 1
BATHROOM - Lower level Hallway - Toilet: Toilet loose at oor
13.5.1 BATHROOM - Lower level Hallway - Shower Fixtures: Shower head not present
14.7.1 BATHROOM - Upper level Hallway - Bath Ventilation: Ventilation fan dirty
15 3 1
BATHROOM - Master bathroom - Sink Plumbing: Drain stopper inoperable
15.3.2 BATHROOM - Master bathroom - Sink Plumbing: Water supply shut o
15.5.1 BATHROOM - Master bathroom - Bathtub Fixtures: Water Hammer
15.8.1 BATHROOM - Master bathroom - Bath Ventilation: Ventilation fan dirty
16 2 1 GARAGE - Garage Walls and Ceiling: Moisture staining
16 2 2 GARAGE - Garage Walls and Ceiling: Hole in Drywall
16.3.1 GARAGE - Door to Living Space: Door from garage to living space not self-closing
16.9.1 GARAGE - Garage 'GFCI' Protection: Garage receptacles not 'GFCI' protected
This report is intended only as a general guide to help the client make his/her own evaluation of the overall condition of the home, and is not intended to re ect the value of the premises, nor make any representation as to the advisability of purchase The report expresses the personal opinions of the inspector, based upon his visual impressions of the conditions that existed at the time of the inspection only The inspection and report are not intended to be technically exhaustive, or to imply that every component was inspected, or that every possible defect was discovered No disassembly or equipment, opening of walls, moving of furniture, appliances or stored items, or excavation was performed All components and conditions, which by the nature of the location are concealed, camou aged or di cult to inspect, are excluded from the report. Regardless of the age of the building we recommend inquiring with the local building authority regarding any permits and inspection records with nal signatures for the original building and for any changes, remodels or additions that may have been made to the building or its component systems.
ITEMS NOT INSPECTED: Systems and conditions which are not within the scope of the building inspection include, but are not limited to: formaldehyde, lead paint, asbestos, toxic or ammable materials, and other environmental hazards; pest infestation, playground equipment, e ciency measurement of insulation or heating and cooling equipment, internal or underground drainage or plumbing, any systems which are shut down or otherwise secured; water wells (water quality and quantity); zoning ordinances; intercoms; security systems; lawn sprinkler systems; structural engineering; geological or soil conditions; sump pumps; heat sensors; cosmetics or building code conformity Any general comments about these systems and conditions are informational only and do not represent an inspection The inspection report should not be construed as a compliance inspection or any governmental or non-governmental codes or regulations.
The report is not intended to be a warranty or guarantee of the present or future adequacy or performance of the structure, its systems, or their component parts, but performed to the industry standards as set by the CALIFORNIA REAL ESTATE INSPECTION ASSOCIATION (CREIA) This report does not constitute any express or implied warranty of merchantability or tness for use regarding the condition of the property and it should not be relied upon as such Any opinions expressed regarding adequacy, capacity, or expected life of components are general estimates based on information about similar components and occasional wide variations are to be expected between such estimates and actual experience We certify that our inspectors have no interest, present or contemplated, in this property or its improvement and no involvement with trades people or bene ts derived from any sales or improvements. To the best of our knowledge and belief, all statements and information in this report are true and correct.
DISPUTE RESOLUTION: Should any disagreement or dispute arise as a result of this inspection or report, it shall be decided by arbitration by an arbitrator who is familiar with the home inspection industry, and shall be submitted for binding, non-appealable arbitration to Construction Dispute Resolution Services, LLC or Resolute Systems, Inc REINSPECTION
RIGHT: In the event of a claim, the Client will allow the Inspection Company three (3) working days to inspect the claim prior to any repairs or waive the right to make the claim Client agrees not to disturb or repair or have repaired anything which may constitute evidence relating to the complaint, except in the case of an emergency
REPORT TERMINOLOGY
APPEARS SERVICEABLE: An item, system or area that based on our visual observation of the accessible areas looks like it was properly installed and is in a condition capable of being used without needed immediate repairs There are often several steps involved in the proper installation of components or systems that cannot be determined by a visual inspection
DAMAGED: An item, system or area that is typically beyond repair and must be replaced
DETERIORATED: An item, system or area that reached the end of its useful life, or sometimes prematurely due to improper installation or care It may be possible to repair the item at this stage to maximize its service life REPAIR OR REPLACE: An item, system or area that is damaged or deteriorated While some items can be repaired, it may be more cost e ective to replace with a newer modern or safer item or system
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Date of Inspection: 08/01/2023 Time of Inspection: 2:00 pm
Realtor/Buyers Agent: ~ Inspection Location: 149 The Masters Cir, Costa Mesa, CA 92627
Soil Conditions: Dry Temperature: 84 degrees
Direction property faces: The front of the house faces east. The Property is: Vacant
Sewage Disposal: Public Utilities Status: Power/Electric is on at the main panel., The natural gas service is on., The water service is not on.
Present for Inspection: Inspector only
Client: Hishan Korraa
Inspected By: Gio Filomeno
Weather: Clear
Type of Property: The property is a two-story single family residence
Water Source: Public
Age of house: The property was built in 1970
Age of Roof: Estimated 50 years
section-MjdmYWY4MWQtNjE0YS00NmM2LWEyMjItNTFkNmQ5ZjY4MDcw
Grounds
This inspection is not intended to address or include any geological conditions or site stability information For information concerning these conditions, a geologist or soils engineer should be consulted Any references to grade is limited to only areas around the exterior of the exposed areas of foundation or exterior walls This inspection is visual in nature and does not attempt to determine drainage performance of the site of the condition of any underground piping, including municipal water and sewer service piping or septic systems Decks and porches are often built close to the ground, where no viewing or access is possible These areas as well as others too low to enter, or in some other manner not accessible, are excluded from the inspection and are not addressed in the report We routinely recommend that inquiry be made with the seller about knowledge of any prior foundation or structural repairs
Testing and evaluation of the barbeque is beyond the scope of this inspection
Driveway: Materials
Concrete
Driveway: Driveway Serviceable
The driveway appears to be in serviceable condition. .
Sidewalk(s): Materials
Concrete
Sidewalk(s): Serviceable
The sidewalk(s) appear to be in serviceable condition
Patio areas: Materials Concrete
Patio areas: Serviceable
The patio areas appear to be in serviceable condition
Deck/Balcony: Materials
Wood framed with tile walking surface
Deck/Balcony: Serviceable
The decks/balcony appear to be in serviceable condition
Deck/Balcony Railings: Serviceable
The deck/balcony railings appear to be in serviceable condition
Fences/Gates: Materials
Wood, Masonry, Metal
Observations:
3 6 1 Fences/Gates
GATE REMOVED
The gate has been removed from the side of the house. I recommend evaluation by a licensed contractor.
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Exterior
Areas hidden from view by vegetation or stored items cannot be judged and are not a part of this inspection Minor cracks are typical in all stucco surfaces Foundations may have minor cracks and typically do not represent a structural problem If major cracks are present along with bowing, we routinely recommend further evaluation be made by a quali ed structural engineer All exterior grades should allow surface and roof water to ow away fro the foundation All concrete experiences some degree of cracking due to shrinkage in the drying process
Testing and evaluation of the sprinkler and irrigation system operation are beyond the scope of this inspection.
Exterior Walls: Structure
Wood framed
Exterior Walls: Cladding Materials Stucco
Sprinklers: Sprinklers not evaluated
Exterior Trim: Material Wood
Testing and evaluation of the sprinkler system is beyond the scope of this inspection
Chimney: Material
Masonry
Hose Faucets: Serviceable - Not anti-siphon type
The hose faucets appear to be in serviceable condition The hose faucets are not the anti-siphon type
Gutters/Downspouts: None installed
I recommend installing a complete rain gutter and downspout system in order to direct moisture away from the house and foundation
Observations:
The stucco system is damaged. I recommend evaluation by a licensed contractor.
There is moisture and/or insect damaged trim at the exterior trim, rafter tails, and/or fascia Refer to a quali ed structural pest control report for additional information.
A chimney cap/spark arrestor has not been installed on the chimney. I recommend installing a chimney cap/spark arrestor to prevent sparks from leaving and moisture from entering the chimney.
The exterior electrical receptacles are not protected by 'GFCI' devices. I recommend evaluation by a licensed electrical contractor.
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Grading, Drainage, and Foundation
Sections of the foundation and structural components of the building are inaccessible because they are installed below grade or behind walls Assessing the structural integrity of a building is beyond the scope of a typical home inspection We make no representations as to the internal conditions or stabilities of the soils, concrete footings and foundations The inspector's evaluation takes into account the age of the building and the typical construction standards of that time, older structures lack many of the modern frame and seismic connections
Grading and Surface Drainage: Level Site
The building site is a level location The grading and surface drainage adjacent to the house appears to be in serviceable condition.
Grading and Surface Drainage: Site drainage and geological conditions
Evaluation of the site drainage and geological conditions are beyond the scope of this inspection Additional information regarding the site drainage and geological conditions can be obtained by consulting with a licensed geotechnical engineer
Sub-Surface Drainage: Beyond the scope
A sub-surface drainage system is noted around the exterior of the house. Testing and evaluation of the sub-surface drainage system is beyond the scope of this inspection
Foundation: Type
Poured concrete; slab on grade
Foundation: Slab on grade - Serviceable
The slab on grade foundation is not visible due to tile, carpet and oor covering. However, there is no readily visible problem noted today and the foundation appears to be in serviceable condition
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Information
Roof System
The foregoing is an opinion if the general quality and condition of the roo ng material The inspector cannot and does not o er an opinion or warranty as to whether the roof leaks or may be subject to future leakage This report is issued in consideration of the foregoing disclaimer They only way to determine whether a roof is watertight is to observe it during a prolonged rainfall Many times, this situation is not present during the inspection Testing of gutters, downspouts and sub surface drain piping is beyond the scope of our inspection
Roof Information: Inspection
Method
Drone
Roof Information: Materials
One-piece clay tiles
Roof Information: Style
Gable roof
Skylights: None
Not Applicable
6 2 1 Roo ng
The roo ng system is showing signs of aging and wear The roo ng system appears to be at or near the end of its useful lifespan. The foregoing is an opinion of the general quality and condition of the roo ng material. The inspector cannot and does not o er an opinion or warranty as to whether the roof leaks or may be subject to future leakage. This report is issued in consideration of the foregoing disclaimer. The only water to determine whether or not a roof is watertight is to observe it during a prolonged rainfall. Certi cation of the roo ng system is beyond the scope of this inspection I recommend a complete evaluation of the roo ng system by a licensed roo ng contractor
There are many cracked, damaged, or slipped tiles on the roo ng system. The cracked, damaged, or broken tiles should be replaced. The foregoing is an opinion of the general quality and condition of the roo ng material The inspector cannot and does not o er an opinion or warranty as to whether the roof leaks or may be subject to future leakage This report is issued in consideration of the foregoing disclaimer The only water to determine whether or not a roof is watertight is to observe it during a prolonged rainfall. I recommend evaluation by a licensed roo ng contractor.
There are improperly installed ashings in the roo ng system. I recommend evaluation by a licensed roo ng contractor
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Plumbing
Water quality of hazardous materials (lead) testing is available from local testing labs All underground piping related to water supply, waste, or sprinkler use are excluded from this inspection Leakage or corrosion in underground piping cannot be detected bu a visual inspection Private waste disposal systems (septic) are not part of our inspection Review of these systems requires a quali ed specialist Older xtures should be budgeted for replacement
Testing and evaluation of the water ltration system is beyond the scope of this inspection.
Water Pressure: The water pressure was approx 80-85 psi
Main Water Supply: Shut o valve Location Front of house
Water Supply Piping: Material PEX
Waste Piping: Material ABS plastic
Fuel System Meter: Type Natural gas
Gas piping: Serviceable
The visible gas piping appears to be in serviceable condition. .
Observations:
7 2 1 Main Water Supply
The water supply to the house is shut o at the meter. Operation of the water supply piping, plumbing xtures, and waste piping was not evaluated. The water supply to the house should be turned on for inspection. I recommend evaluation by a licensed plumbing contractor
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Information
Water Heater: Water Heater Photo with Make/Model
Size and Type
50 gallon - Natural gas - tank type
Location Garage
Burner Flame: Status Located within a sealed burner chamber - Not visible, Not evaluated
Manufacturer
Whirpoll
Combustion Air: Status
Combustion Air is available. .
Water Shut o Valve: Serviceable
The water shut o valve appears serviceable.
Water supply connections : Serviceable
The water supply connections at the top of the water heater appear to be in serviceable condition
Vent Piping: Serviceable
The vent system appears serviceable. .
Temperature Pressure Relief Valve: Serviceable - Pressure relief valve
The pressure relief valve appears serviceable with proper discharge piping installed. .
Drip Pan: Installed
There is a drip pan installed.
Observations:
A sediment trap has not been installed at the gas supply to the water heater. I recommend evaluation by a licensed plumbing contractor.
The water heater is not properly strapped to resist movement during seismic activity. Although there are two straps on the water heater, the water heater is not rmly braced against the wall. As installed, the straps do not prevent movement of the water heater. I recommend evaluation and repair by a licensed contractor.
The bladder is not charged within the expansion tank. The expansion tank is lled with water and is inoperable This could lead to premature failure of the water supply piping and plumbing xtures The expansion tank should be replaced I recommend evaluation by a licensed plumbing contractor.
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The inspector is not equipped to fully inspect furnace heat exchangers for evidence of cracks or holes, as this can only be done by dismantling the unit This is beyond the scope of this inspection Some furnaces are designed in such a way that inspection is almost impossible The inspector cannot light pilot lights Safety devices are not tested by the inspector NOTE: Asbestos materials have been commonly used in heating systems Determining the presence of asbestos can ONLY be performed by laboratory testing and is beyond the scope of this inspection Thermostats are not checked for calibration or timed functions Adequacy, e ciency or the even distribution of air throughout a building cannot be addressed by a visual inspection We do not perform pressure tests on A/C systems, therefore, no representation is made regarding coolant charge or line integrity Subjective judgement of system capacity is not a part of this inspection Normal service and maintenance is recommended on a yearly basis
Make/Model - Furnace
Trane
Make/Model - Air Conditioner
Trane
Furnace information: Location Garage
Furnace information: Fuel type
Natural gas
Furnace information:
Approximate BTU's 100,000
Furnace information: Heating type
Vertical forced air
Furnace operation: Thermostat inoperable - furnace operation not evaluated
The thermostat was not functional Operation of the furnace was not evaluated I recommend evaluation by a licensed heating contractor.
Furnace Venting: Serviceable
The vent system appears to be in serviceable condition. .
Combustion Air: Available
Combustion air is available.
Furnace Burners: Not evaluated
The furnace did not respond to the controls Operation of the furnace burners was not evaluated .
Thermostat location: Thermostat location
Hallway
Observations:
Air Conditioning - Type and location: Location
Exterior south side of house
Air Conditioning - Type and location: Type Split system
The furnace responded to the controls and appears to function at this time. However, the furnace is older and in use beyond the manufacturer's life expectancy. The remaining lifespan of this system may be limited The furnace does not appear to have been serviced recently I recommend evaluation and service by a licensed heating contractor
The furnace blower motor and blower compartment are dirty. The furnace has not been recently serviced. I recommend evaluation and service by a licensed heating and air conditioning contractor.
A sediment trap has not been installed at the gas supply to the furnace. I recommend evaluation by a licensed plumbing contractor.
9.7.1 Air Distribution System
There are disconnected sections of ducting within the attic. I recommend evaluation by a licensed heating and air conditioning contractor
9 8 1 Furnace Air Filters AIR FILTER NOT INSTALLED
An air lter has not been installed in the return air system I recommend installing a properly sized air lter.
9 10 1 Thermostat operation FURNACE DID NOT RESPOND TO CONTROLS
The furnace did not respond to the controls. I recommend evaluation by a licensed heating and air conditioning contractor
The air conditioning condenser responded to the controls and appears to be functional. However, the air conditioning condenser is older and in use beyond the manufacturer's life expectancy. The condenser does not appear to have been recently serviced The remaining lifespan of this system is likely limited I recommend evaluation by a licensed heating and air conditioning contractor
The electrical disconnect fuses were found disconnected at the time of the inspection. I recommend evaluation by a licensed HVAC contractor.
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General: Electrical Systems
Any electrical repairs attempted by anyone other than a licensed electrician should be approached with caution the power to the entire house should be turned o prior to beginning any repair e orts, no matter how trivial the repair may seem Inoperative light xtures often lack bulbs or have dead bulbs installed Light bulbs are not changed during the inspection Smoke alarms should be installed in accordance with the manufacturer's instructions, an tested regularly Testing and evaluation of the low voltage landscape lighting and security system is beyond the scope of the inspection
A representative sample of switches and receptacles were tested and appear to be in serviceable condition with any exceptions noted below.
Electrical Service: Type
Underground
Electrical Service: Serviceable
Electrical Service: Voltage
120/240 volt - amperage was not determined
The electrical service appears to be in serviceable condition. There is a ground present.
Electrical Conductors: Entrance
cables
Copper
Main Electrical Panel: Location
Exterior - north side of the house
Electrical Conductors: Branch wiring material
Copper
Electrical Conductors: Branch wiring style
Non-metallic sheathed cable
Main Electrical Panel: Service size
200 amp
Main Electrical Panel: Grounding There is a ground present
Main Electrical Panel: Breakers installed
There are breakers installed in the main electric panel. .
Electrical Notes: Representative sample of switches and receptacles checked
A representative sample of switches and receptacles were evaluated and appear to be in serviceable condition
Electrical Notes: Polarity and Grounding within 6" of plumbing
The polarity and grounding of receptacles within six feet of plumbing xtures in the exterior and garage appear to be in serviceable condition
Electrical Notes: Low voltage systems
Testing and evaluation of the low voltage systems is beyond the scope of this inspection.
Arc Fault Circuit protection: Arc Fault protection not installed
None of the breakers within the panel o er Arc Fault Circuit Protection (AFCI). Modern electrical standards require AFCI protection at all 15 and 20 amp branch circuits supplying power to outlets in kitchens, family rooms, dining rooms, living rooms, parlors, libraries, dens, bedrooms, sunrooms, closets, hallways, laundry areas, or similar rooms and areas Upgrades are recommended as a safety enhancement
Observations:
10 3 1 Electrical Conductors ALUMINUM WIRING
Aluminum wiring is present at the 120-volt general electrical circuits. Aluminum wiring is prone to excessive expansion and contraction. Excessive expansion and contraction leads to loose connections and arcing which present an increased re hazard risk. I recommend a complete evaluation of the aluminum wiring system by a licensed electrical contractor that is familiar with aluminum wiring and its hazards Additional information regarding aluminum wiring can be obtained at the Consumer Product Safety Commission website at www cpsc gov/s3fs-public/516 pdf
DOORBELL
The doorbell did not respond to the controls. I recommend evaluation by a licensed contractor.
LIGHT(S) DID NOT RESPOND TO SWITCHES THROUGHOUT THE HOUSE
One or more of the light xtures did not respond to the switches I recommend evaluation and repair
10.6.2 Electrical Notes
FAMILY ROOM
There are missing device cover plates. This could allow accidental touching of live electrical components. I recommend evaluation and repair.
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Information
Interior Components
The condition of the walls behind wall coverings, paneling and furnishings cannot be judged Only the general condition of the visible portions of oors is included in this inspection As a general rule, cosmetic de ciencies are considered normal wear and tear and are not reported Determining the source of odors or like conditions is not part of this inspection Floor covering damage or stains may be hidden by furniture The condition of oors underlying oor coverings is not inspected
Main Entry Door: Serviceable
The main entry door appears to be in serviceable condition The hardware and weather stripping are serviceable
Windows: Type
Vinyl framed - dual glazed
Floors: Serviceable
Floors: Material Tile
The interior ooring appears to be in serviceable condition
Interior Walls: Material Drywall
Ceilings: Material Drywall
Fireplace - Family room: Location Family room
Fireplace - Family room: Material Masonry
Fireplace - Family room: Gas valve location
On the wall adjacent to replace
Fireplace - Master bedroom: Location Master bedroom
Fireplace - Master bedroom:
Material
Masonry
Fireplace - Master bedroom: Gas valve location
On the oor adjacent to replace
Interior Stairs: Serviceable
The interior stairs appear to be in serviceable condition
Laundry utilities: Location
Garage
Laundry utilities: Water valves serviceable
The hot and cold water shuto valves appear to be in serviceable condition.
Laundry utilities: 120-volt electrical
The 120-volt electrical receptacle appears serviceable and properly grounded. .
Laundry utilities: 220 volt Power
The 220-volt power appears serviceable
Laundry utilities: Dryer venting Dryer venting is provided. .
Laundry utilities: Ventilation
The laundry room ventilation appears to be in serviceable condition
Attic: Attic Access location
Master bedroom closet
Rafter framing - 2 x Conventional framing Ceiling framing - 2 x Conventional framing
Attic: Ventilation Serviceable
The attic ventilation appears to be in serviceable condition. .
Observations:
11 2 1 Exterior doors
SLIDING SCREEN MATERIAL DAMAGED
The screen material is damaged at the family room sliding screen door I recommend evaluation by a licensed door contractor.
11 3 1 Interior Doors
DAMAGED DOOR GARAGE
The door is damaged I recommend evaluation by a licensed contractor
LOWER LEVEL BEDROOM
The door rubs on the frame head. I recommend evaluation and repair by a licensed contractor.
There appears to be moisture between the glass panes at the windows listed below This condition occurs when the seals separating the glass panes fail, allowing moisture vapor into the space between the glass. I recommend evaluation by a licensed window contractor.
The glass pane is cracked at the window. I recommend evaluation by a licensed window contractor.
Several of the window screens have been removed I recommend replacing the window screens.
11.4.4 Windows
Tinting lm has been applied to the glass at many of the windows. The installation of tinting lm leads to increased thermal expansion of the glass sealant resulting in failed seals. The installation of tinting lm on dual glazed windows voids the manufacturer's warranty I recommend removing the tinting lm
11 6 1 Interior Walls DAMAGED DRYWALL
UPPER LEVEL HALLWAY BATHROOM
There is damage in the drywall. I recommend evaluation by a licensed contractor.
The paint is peeling from the walls. I recommend evaluation by a licensed contractor.
11.7.1 Ceilings
THROUGHOUT THE HOUSE
There is moisture staining and damage at the ceiling. I recommend evaluation by a licensed contractor.
11
The family room ceiling fan did not respond to the switches A remote control was not present I recommend evaluation by a licensed electrical contractor.
Gas service is provided to the replace. The damper has not been blocked permanently open with a clamp, as required I recommend evaluation and repair by a quali ed technician
11.12.1
GUARDRAIL OPENINGS TOO LARGE
The openings in the guardrails at the interior stairway are larger than allowed by current building safety standards Current building safety standards do not permit openings large enough to allow a four-inch sphere to pass through I recommend evaluation by a licensed contractor
11
ADDITIONAL SMOKE ALARMS REQUIRED - MULTI-LEVEL
Current building safety standards require smoke alarms within each bedroom and in the hallway area immediately outside the bedrooms. Additionally, at least one smoke alarm must be installed at each habitable level of the house without a bedroom. I recommend installing operable smoke alarms at each of these locations.
11
CARBON MONOXIDE ALARM REQUIRED - SINGLE LEVEL
UPPER LEVEL
Current building safety standards require a carbon monoxide alarm in the hallway immediately outside the bedrooms I recommend installing an operable carbon monoxide alarm at this location
NATURAL GAS SERVICE RED TAGGED BY GAS COMPANY
Natural gas service is red tagged by the gas company supplier to the laundry area I recommend evaluation by a licensed plumbing contractor.
There is moisture staining on the roof sheathing and/or framing within the attic. I recommend evaluation by a licensed roo ng contractor.
There is minimal insulation within the attic I recommend fully insulating the attic for increased comfort and energy e ciency.
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Information
General: Kitchen
The kitchen appliances were all tested by activating one of the user control functions We did not test every function or cycle on each appliance and cannot con rm that every function or cycle is operable Testing all cycles/functions on each appliance is recommended prior to close of escrow The home inspector is not required to observe: clocks, timers, self-cleaning oven function, or thermostats for calibration or automatic operation; non built-in appliances; or refrigeration units Obtain a reputable Home Warranty Protection program to insure against future failure of any appliance that may occur after taking possession of the home
Kitchen Sink: Serviceable
The kitchen sink appears to be in serviceable condition. .
Kitchen Sink Plumbing: Water Serviceable
The water supply piping appears to be in serviceable condition. .
Kitchen Sink Plumbing: Faucet Serviceable
The faucet appears to be in serviceable condition
Garbage Disposal: Serviceable
The garbage disposal appears to be in serviceable condition. .
Ranges/Ovens/Cooktops:
Cooking appliances present
Gas cooktop, Electric single oven
Ranges/Ovens/Cooktops: Oven operation
The oven(s) appear(s) to be in serviceable condition. .
Kitchen exhaust: Exhaust fan serviceable
The exhaust fan appears to be in serviceable condition
Kitchen exhaust: Exhaust hood lights serviceable
The exhaust hood lights appear to be in serviceable condition. .
Kitchen countertops: Countertops
The kitchen countertops appear to be in serviceable condition. .
Refrigerator: Limitation
Testing and evaluation of the refrigerator operation is beyond the scope of this inspection.
Warming drawer: Serviceable
The warming drawer appears to be in serviceable condition. .
Observations:
12 3 1 Kitchen Sink Plumbing AIR GAP NOT INSTALLED
The dishwasher drains into the garbage disposal without going through an air gap device. An air gap device prevents waste products from backing up into the dishwasher I recommend evaluation by a licensed plumbing contractor
12.5.1
DISHWASHER RACKS DAMAGED
There is damage on the racks within the dishwasher. I recommend evaluation by a quali ed appliance technician.
12
ELECTRIC IGNITION INOPERABLE
The electric ignition is not functional at 3 of the burners. I recommend evaluation and repair by a quali ed appliance technician.
12
MICROWAVE OVEN INOPERABLE
The microwave oven is not functional I recommend evaluation by a quali ed appliance technician.
There is moisture staining within the cabinets. Despite these areas being dry during the inspection, it does not guarantee they will not become wet or active again. Issues that are caused by intermittent moisture can frequently cause a wetting and drying e ect Depending on when our inspection takes place and the moisture conditions, the moisture activity will be present or not present This area should be further evaluated by either a licensed remediation contractor, a leak detection specialist, or a quali ed licensed contractor to determine the source(s) of moisture, if not readily apparent or already identi ed in our report. Please note that hidden or concealed moisture damage and microbial growth could be present in the building materials due to the prior moisture activity that has already occurred.
The kitchen countertop electrical receptacles are not protected by 'GFCI' devices. I recommend evaluation by a licensed electrical contractor.
section-MzEwZmRhYjEtNDA4Zi00OGU5LWFmMTctMzYwZTljNzk4ODNl
General: Bathrooms
Shower pans are visually checked for leakage but leaks do not show except when the shower is in actual use Determining whether shower pans, tub/shower surrounds are water tight is beyond the scope of this inspection It is very important to maintain all grouting and caulking in the bath areas Very minor imperfections can allow water to get into the wall or oor areas and cause damage Proper ongoing maintenance will be required in the future
Sink(s): Serviceable
The sink appears to be in serviceable condition. .
Sink Plumbing: Water Supply Piping Serviceable
The water supply piping under the sink(s) appear to be in serviceable condition. .
Sink Plumbing: Waste piping Serviceable
The waste piping under the sink(s) appears to be in serviceable condition. .
Sink Plumbing: Faucet Serviceable
The faucet(s) appear to be in serviceable condition
Shower Walls: Serviceable
The shower walls appear to be in serviceable condition
Shower Enclosure: Serviceable
The shower enclosure appears to be in serviceable condition. The glass appears to be tempered safety glass.
Bath Ventilation: Serviceable
The bathroom ventilation appears to be in serviceable condition
Counter and Cabinet: Serviceable
The countertop and cabinets appear to be in serviceable condition. .
GFCI Protection: GFCI Serviceable
The ‘GFCI’ receptacles in the bathrooms responded to the test buttons and appear to be in serviceable condition
Observations:
13
DRAIN STOPPER - NOT FUNCTIONAL
The drain stopper does not function properly. I recommend evaluation and repair.
13
TOILET LOOSE AT FLOOR
The toilet is loose at the connection to the oor The wax ring is likely damaged I recommend evaluation by a licensed plumbing contractor.
13
SHOWER HEAD NOT PRESENT
The showerhead is not present. I recommend evaluation and repair by a quali ed technician.
section-NjkzY2NkNTctN2UyMS00YWFlLWJjYmQtYjMyNDQ0ZWE4NDhj
General: Bathrooms
Shower pans are visually checked for leakage but leaks do not show except when the shower is in actual use Determining whether shower pans, tub/shower surrounds are water tight is beyond the scope of this inspection It is very important to maintain all grouting and caulking in the bath areas Very minor imperfections can allow water to get into the wall or oor areas and cause damage Proper ongoing maintenance will be required in the future
Sink(s): Serviceable
The sink appears to be in serviceable condition. .
Sink Plumbing: Water Supply Piping Serviceable
The water supply piping under the sink(s) appear to be in serviceable condition. .
Sink Plumbing: Waste piping Serviceable
The waste piping under the sink(s) appears to be in serviceable condition. .
Sink Plumbing: Faucet Serviceable
The faucet(s) appear to be in serviceable condition
Toilet: Serviceable
The toilet appears to be in serviceable condition
Shower Walls: Serviceable
The shower walls appear to be in serviceable condition. .
Shower Enclosure: Serviceable
The shower enclosure appears to be in serviceable condition The glass appears to be tempered safety glass
Counter and Cabinet: Serviceable
The countertop and cabinets appear to be in serviceable condition. .
GFCI Protection: GFCI Serviceable
The ‘GFCI’ receptacles in the bathrooms responded to the test buttons and appear to be in serviceable condition
Observations:
14 7 1 Bath Ventilation
VENTILATION FAN DIRTY
The bathroom ventilation fan is dirty I recommend cleaning the fan
section-ZWJhNTZlNjctM2NkMC00Yjk2LTlmN2YtYTNiNWU1NTI3ODBi
General: Bathrooms
Shower pans are visually checked for leakage but leaks do not show except when the shower is in actual use Determining whether shower pans, tub/shower surrounds are water tight is beyond the scope of this inspection It is very important to maintain all grouting and caulking in the bath areas Very minor imperfections can allow water to get into the wall or oor areas and cause damage Proper ongoing maintenance will be required in the future
Sink(s): Multiple Sinks
The sinks appear to be in serviceable condition
Sink Plumbing: Water Supply Piping Serviceable
The water supply piping under the sink(s) appear to be in serviceable condition. .
Sink Plumbing: Faucet Serviceable
The faucet(s) appear to be in serviceable condition. .
Toilet: Serviceable
The toilet appears to be in serviceable condition
Shower Walls: Serviceable
The shower walls appear to be in serviceable condition. .
Shower Enclosure: Serviceable
The shower enclosure appears to be in serviceable condition. The glass appears to be tempered safety glass.
Counter and Cabinet: Serviceable
The countertop and cabinets appear to be in serviceable condition
The ‘GFCI’ receptacles in the bathrooms responded to the test buttons and appear to be in serviceable condition.
Observations:
15
DRAIN STOPPER INOPERABLE
The drain stopper does not function properly. I recommend evaluation and repair.
WATER SUPPLY SHUT OFF
The water supply to the house is shut o at the meter. Operation of the water supply piping, plumbing xtures, and waste piping was not evaluated The water supply to the house should be turned on for inspection. I recommend evaluation by a licensed plumbing contractor.
WATER HAMMER
There is a water hammer within the wall when turning the xture handle from the on to o position. I recommend evaluation by a licensed plumbing contractor.
The bathroom ventilation fan is very dirty. I recommend cleaning and servicing the exhaust fan.
section-MWY0YmUyNzEtYjVlNi00ZTUwLTg2NzMtZTdiZWM5ZDgyNDIw
Information
Description
Attached, two-car
Garage Floor: Materials Concrete
Garage Floor: Visible portions serviceable
The visible portions of the garage oor appear to be in serviceable condition. The view of the garage is obstructed by the current occupants' personal belongings I recommend carefully checking the entire garage once the current occupants' belongings are removed and prior to the close of escrow.
Exterior Door: None
None Provided
Vehicle Door: Serviceable
The roll-up garage doors appear to be in serviceable condition
Automatic Opener: Serviceable
The garage door openers appear to be in serviceable condition The automatic reverse features functioned properly
Garage Ventilation: Serviceable
Garage ventilation is provided and in serviceable condition. .
Garage Electrical: Serviceable
The garage electrical appears to be in serviceable condition. .
Observations:
There is moisture staining at the garage ceiling. I recommend evaluation by a licensed contractor. Refer to a quali ed structural pest control report for additional information.
16.2.2
There is a hole in the drywall. I recommend evaluation by a licensed contractor.
The door leading from the garage to the living space is not selfclosing and latching. This door forms part of the re separation system separating the garage from the living space. The door must self-close and latch. I recommend evaluation and repair by a licensed contractor.
16
The garage electrical receptacles are not protected by 'GFCI' devices. I recommend evaluation by a licensed electrical contractor
License #C39 1053975
11296 Snowdrop Ave
Fountain Valley, CA 92708
714-925-2346
Highridgeroofing@yahoo.com
Highridgeroofing.com
Hisham Korraa
Costa Mesa, CA 92627
We hereby propose to furnish the following work:
Contractor will furnish all labor, materials, and equipment. The scope of work includes.
1) Remove existing concrete tile and 2 layers of roof underlayment.
2)replace any damaged wood if needed at extra cost,
3) properly install one layer of synthetic roof underlayment over roof deck
4) Properly install a 30-year asphalt shingles cool roof Solaris series tile 24 as per California codes
Note: wood replacement as needed; TNG 2"x6" @ $16 per linear foot and $12 per linear foot of fascia board as agreed
PROPOSED PAYMENT: Owner agrees to pay Contractor a PROPOSED total cash price of $ Dollars. OWNER represents that this agreement is a cash transaction wherein no financing is contemplated and contractor acts in reliance on said representation.
THE PAYMENT SCHEDULE WILL BE AS FOLLOWS:
1. Down payment of $ , 2. Payment schedule as follows:
THIS IS A BID PROPOSAL WITH A GENERAL DESCRIPTION OF THE PROJECT AND COST. IF THE BID PROPOSAL IS ACCEPTED, A MORE FORMALIZED CONTRACT WILL BE PREPARED PROVIDING DETAILED TERMS AND CONDITIONS INCLUDING ALL YOUR RIGHTS AND YOUR RIGHT TO CANCEL.
NOTE: This proposal may be withdrawn by us if not accepted within Days.
ACCEPTANCE OF PROPOSAL
You are hereby authorized to return a formal contract between us to accomplish the work described in the above proposal, for which the undersigned agrees to pay the amount stated in said proposal and according to the terms thereof.