SANTOLUCITO DORE GROUP, INC (2) - Laserfiche WebLink

Home Browse Search

SCOPE OF SERVICES AND SCHEDULE SD Group has the availability to deliver appraisals and appraisal reviews to the City in a timely manner. Appraisal assignments are typically completed within 45 to 60 days after notice to proceed (NTP) and receipt of all pertinent project and parcel information. Reviews are typically completed within 7 to 10 days. The steps necessary to complete and appraisal and appraisal review were previously provided in the Understanding of Need and Proposed Method to Accomplish Work section. Our proposed schedule for a typical right of way appraisal is as follows: • Day 1 — NTP and receipt of Preliminary Title Reports (PTR) and other relevant documents; • Day 2 — Send out Notice of Decision to Appraise (NODA) letters; • Days 3-23 — Research subject properties (parcel size, existing land use/zoning, other pertinent factors), identify the appraisal problem, review PTRs and other reports/documents, research neighborhood and market data, perform detailed highest and best use analyses, and select, analyze, and verify comparables; • Days 23-25 — Property inspections and comparables inspections; • Days 26-40 — Valuations via applicable approaches (sales, cost, income); • Day 41 — Reconcile the approaches used; • Days 41-45 — Type the narrative appraisal reports; and • Days 45-60 — Deliver the draft appraisal reports. We understand the description and scope of work outlined in the RFP Attachment 1, under Property Appraisal Services, and will meet all requirements. All work will be under the oversight of Christie, the Project Manager for this contract. Additionally, Lance will review and sign all reports requiring an MAI signature. We have Quality Assurance/Quality Control (QA/QC) plan in place for each assignment that is tailored to the specific needs of each client and project. APPRAISAL METHODOLOGY AND PROCESS Property will be appraised via one or more of the three traditional approaches to value (cost, sales, and income capitalization), depending on the highest and best use and the quality and quantity of data available for analysis. The cost approach is a breakdown of property into land and building components. It assumes that an informed buyerwould pay no more for a property than the cost of acquiring land and reproducing improvements of similar utility, less the amount of any depreciation. This approach is most applicable when improvements are relatively new and represent the highest and best use of the land, or in the case of special -use properties, for which there are few comparable sales. The sales comparison approach is the comparison of similar properties, that recently sold or are currently listed for sale, to the subject property. It assumes that an informed buyer would pay no more for a property than the cost of acquiring a substitute property of similar utility and desirability. This approach is most applicable when there are sufficient recent and reliable transactions of similar properties. It is most often relied upon in the valuation of owner -user properties. The income capitalization approach reflects the present value of the future benefits of property ownership. It converts a property's net operating income into a lump -sum value via capitalization. The two methods of income capitalization are direct capitalization and yield capitalization (via a discounted cash flow analysis), with one or both applied, as applicable to the property being appraised. This approach is most applicable for income -producing properties. City of Santa Ana, Public Works Agency— Fee Proposal for On -Call Property Appraisal Services