| A TYPICAL TABLE OF CONTENTS... |
TABLE OF CONTENTS
Summary of Salient Facts and Valuation Conclusion
Executive Summary
Hazardous Material(s) Disclaimer
Property Contamination Disclaimer
Scope of Work/Extent of the Process
Professional Appraisal Standards
Assumptions Made By Appraisers
Limiting Conditions and Assumptions
Restrictions Upon Disclosure and Use
Purpose of the Appraisal
Intended User(s), Use & Client - Appraisal
Date of Inspection
Effective Date
Date of Report
Interest Being Appraised
Definition of Market Value as Utilized
Property Rights Appraised
Definition of Fee Simple Estate
Definition of Leased Fee
Appraisal Category
Americans with Disabilities Act Compliance
Appraiser Competency
Hypothetical Condition
South Carolina Overview
Horry County Area Description & Demographics
Neighborhood Analysis
Regional Market Conclusions
Use of the Real Estate Existing - Date of Value
Census Tract
Statement of Current Ownership
Property Identification/Location
Site Description
Soil Analysis
Flood Hazard Declaration
Description of the Subject Improvements
General Assumptions Made by the Appraiser
Zoning
Utilities
Assessment Data
Sales History of the Subject Property
Offers, Options and Listings
Subject Photographs
Present Use
Analysis of Highest and Best Use
Summary of Highest and Best Use
Estimated Reasonable Exposure & Marketing Periods
The Cost Approach to Value
Unimproved Comparable Sales and Photographs
Reconciliation: Land Sales
Cost Data Sources
Cost Analysis
Sales Comparison Approach
Improved Comparable Sales & Photographs
Adjustments
Market Grid Analysis
Income Approach
Income Capitalization Analysis
General Discussion - Income Projection Period
Gross Annual Income
Net Operating Income
Capitalization Process
Direct Capitalization Analysis & Cash Flow Exhibits
Reconciliation of The Income Approach
Discounted Cash Flow Analysis
Discounted Cash Flow Assumptions
Internal Rate of Return - IRR
Internal Rate of Return Analysis
Discounted Cash Flow Analysis Spreadsheet
Reconciliation of The Income Approach
Reconciliation and Final Value Estimate
Certification of Value
Addendum
Engagement Letter
Definitions
Qualifications of the Appraiser
B. Emerson Treffer, SRPA,SRA,CREA,CRA
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