Reso 2003-553 - Laserfiche WebLink

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--, ~j " ANALYSIS OF SALES .~ '-, The land sales range in unit price from $19.53 to $41.27 per square foot of land area. The sales range in time from June of2001 to December of2001. ,,j r, Property Rights ,.,j The fee simple interest is the property right of the subject property being valued. The comparable sales involved the same type of property rights. ~-, ----! Condition of Sale '-, --, All of the sales were arm's-length transactions. An arm's-length transaction is defined as a transaction freely arrived at in the open market unaffected by abnormal pressure or by the absence of normal competitive negotiation as might be true in the case of a transaction between related parties. ,,,j I ,__J Financing " I~ The following is a summary of the methods by which each sale was financed: " Sale Number Financing Methods \,j I Conventional loan from Northern Trust Bank of $1,875,000. '-, ,~ 2 Cash. " \__J 3 Purchase money mortgage of $800,000. --, 4 Cash. __J " The financing of the sales does not indicate any adjustments ofthe sale prices for favorablelbelow market financing. ----J Date of Sale (Market Conditions) '-, ,--~ The sales range in time from June of2001 to December of2001. An upward trend in price is evident in this particular market area over this time period. ~, ,--.J Location '-', Sale 3 is located in North Miami Beach. The location of Sale 3 is considered inferior to the location of the subject. The unit price of Sale 3 requires an upward adjustment for location. ---l ------, The Sale 1 and 4 sites are located in Aventura. The locations ofthe Sale 1 and 4 sites are considered better than the location of the subject. The unit prices of Sales 1 and 4 require downward adjustments for location. ,,,j -, ,,,,j QUINLIVAN APPRAISAL ----, 34 .,,J