Agenda - Council - 01/28/1992 - Laserfiche WebLink

Home

ROBERT T. MAUSSER SRPA, SR/WA 5151 EDINA INDUSTRIAL BOULEVARD, SUITE 106 MINNEAPOLIS, MINNESOTA 55439 PHONE 612-835-5766 I I 1 PROPERTY iDENTITY The subject property, a 34.39 acre tract of undeveloped land, is located on the northeast corner of Sunfish Lake Boulevard and Industry Avenue N.W., City of Ramsey. Accompanying photographs and graphics depict the property. PURPOSE OF THE APPRAISAL The purpose of the appraisal is to estimate the Fair Market Value of the above referenced property. Rights to be Appraised - Fee Simple Interest as of September 30, 1991. SPECIFIC LIMITING CONDITIONS In making this appraisal and report, no testing has been made as to the existence or presence of radon, asbestos, toxic substances or other envir- onmental pollutants in the building, land or surrounding areas, and that the values assigned herein to the lands and buildings assume that no such contaminants exist. We further recommend that if you have knowledge of or reason to suspect the existence of such contaminants, that you obtain an environmental assess- ment of the property. MARKET VALUE DEFINED Market value has been defined in many ways, but the legally adopted defini- tion held by courts in most states is the one given in Rea[ Estate Terminology published in 1975 by the American Institute of Real Estate Appraisers as the highest price, in terms of money, which a property will bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming that the price is not affected by undue stimulus. 1) Buyer and seller are typically motivated. 2) Both parties are well informed or well advised, and each is acting in what he considers to be his own best interest. 3) A reasonable time is allowed for exposure in the open market. Payment is made in cash or its equivalent. Page- 1 [ I I I [[ ! H i I ] I ] I