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Standard Instructions Information and Example

The instructions below are relatively extensive and are provided to you as an example. Depending on your needs we encourage you to use and/or modify this for your own use. Simply copy the instructions into a word document or text file and edit them to make them your own.

General Instructions

1. All fonts to be at Arial Regular 8 Point unless it does not fit into the field and then it can be scaled down to fit the field.
2. All dates to be in the following format (XX/XX/XXXX).
3. Areas to be filled in by data entry team will be in RED. Note, final report should be in BLACK.

Subject Section

Fill in the areas in the Subject section that are marked in RED. All other fields to be left blank.
Abbreviations:
1. CR = County Records
2. MLS = MLS Listing
If an amount is entered in the HOA $ area check the PUD box and the per month box.

Listing Instructions
On page 1 of the report under the SUBJECT section there are 2 spaces to fill out

1. 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?
2. Report data source(s) used, offering price(s), and date(s)
Instructions - The MLS listing for the Subject property will be provided, if there is any. If the property is currently Active, Active Cont to Show or Pending check the YES box and enter the following in the "Report data source(s) used, offering price(s), and date(s)" area - "Hawaii MLS, County Records - At the time of this report, the Subject property is listed for sale for (List Price), MLS #(MLS Listing #), Listing Agent, (Agents Name), Phone - (Agent's Phone #)

Contract Section

If the Subject property is under contract and the report is for a purchase:

1. Select the "Did" Analyze box
2. In the comment area enter the following and fill in the areas from the contract that are in RED. The Subject property is under contract for (Contract Price), contract date of (Contract Date), counter offer date of (Counter Offer Date), Buyer's signature dated (Buyer's Signature Date), Seller's signature dated (Seller's Signature Date), Pages 1-12 of contract and counter (if any) reviewed.
Note: If there is no counter offer, delete the part above that shows "counter offer date of (Counter Offer Date)")

3. Enter contract price in Contract Price field (no need to enter the dollar sign)
4. Enter contract date in Date of Contract field (date format XX/XX/XXXX
5. In the "Is the property seller the owner of public record" section - see who the seller is on the purchase contract (usually found on page 12 of contract) and if it matches the Owner of Record as shown on county records - check the YES box and enter "County Records" in the Data Source(s) field.

Note:If the seller's name on the contract does not match Owner of Record as shown on county records (and should already be on the report under Owner of Public Record) check the NO box and enter "County Records **". Then on the last line of the "If Yes, report the total dollar amount and describe the items to be paid." Comment the following - "** County records shows (Owner as shown on County Records) as owner, contract shows (Owner as shown on Contract) as seller."

Note: Entering the appropriate information from the contract and county records for the RED items in this comment.

6. In the "Is there any financial assistance (loan charges, sale concessions ...) " line - review page 11 of the purchase contract - Line C67. If this area is blank mark the NO box and put "None Disclosed" in the first space after the "If Yes, report the total dollar amount and describe the items to be paid." If this area has information regarding seller concessions - enter the amount to be paid by the seller or other party in the first space after the "If Yes, report the total dollar amount and describe the items to be paid." And in the comment area following the first space enter "Per the contract, "(and copy exactly what is stated in the purchase contract regarding the concessions) For example, if the seller is paying $5,000 towards closing costs and the purchase contract states the following "Seller to credit buyer $5,000 for buyers closing costs, including VA non-allowables as listed in VA addendum, mortgage points, pre-paids required by buyers lender to obtain new mortgage" , in the first space you would enter $5,000 and then in the comment area following the first space you would enter "Per the contract, "Seller to credit buyer $5,000 for buyers closing costs, including VA non-allowables as listed in VA addendum, mortgage points, pre-paids required by buyers lender to obtain new mortgage."

Note: Sometimes the concessions are in the form of a percentage rather than a $ amount - for example "Seller to credit buyer 3% of sales price for buyers closing costs, including VA non-allowables as listed in VA addendum, mortgage points, pre-paids required by buyers lender to obtain new mortgage" In this case - use the purchase price to determine the $ amount for the first space and then use the exact verbage from the contract in the comment area after the first space.

Note: Sometimes the concessions are found on the counter offer rather on the purchase contract - the counter offer supercedes the purchase contract so if the counter offer differs from the contract, use the information found in the counter offer. For example, sometimes the counter offer will show a different purchase price than the purchase contract. If this is the case - use the purchase price from the counter offer.
Notes on contracts: Most of the time the contracts and counter offers look pretty much the same with the information in the same place - occasionally though the contract looks different and the information has to be searched for. If this is the case, do the best that you can to find the information needed in the contract provided.

Use the Reference Date on the contract as the Purchase Contract Date. The dates of the seller and buyer will be found next to their signatures.

Note: Sometimes the counter offer shows different information than the purchase contract - the counter offer supercedes the purchase contract so if the counter offer differs from the contract, use the information found in the counter offer. For example, sometimes the counter offer will show a different purchase price than the purchase contract. If this is the case - use the purchase price from the counter offer. If the concessions shown on the counter offer are different than in the purchase contract, use the concessions from the counter offer.
If the Subject property is for a refinance or other (anything but a purchase):

1. Check the Did Not Analyze ... box and enter the following in the comment area - "This report is not completed for a purchase transaction."
2. Enter "N/A" in the Contract Price field and "N/A in the Date of Contract field
3. Leave the "Is the property seller the owner of public record blank and do not check either box
4. Do not check either box for the "Is there any financial assistance ..."
5. In the "If Yes, report the total dollar amount ..." first space enter "N/A"

Neighborhood section

A spreadsheet for the 1004MC will be uploaded. This spreadsheet will also provide information for the One-Unit Housing and the Condominium Housing section under the Neighborhood section of the report.

1. For the price section of the Housing - in spreadsheet use data from "Data Input" tab fields 20D, 21D, and 22D (Pred). For the minimum, if the # is $451,500 for example, round down to $451,000. For the maximum, if the # is $451,500, round up to $452,000.
2. For the Age section of the Housing - in spreadsheet use data from "Data Input" tab fields 20A, 21A, and 22A (Pred). If the data in field 20A shows a negative #, use "0".

Site Section

Fill in the items for the Site Section as indicated on the Data Information Template in RED.
Abbreviations:

1. CR = County Records
2. 1004MC SH - 1004MC Spreadsheet provided in order
3. OIF - Onsite inspection form provided in order

Shape - once the Plat Map has been entered into the report, if the Subject's site is mostly rectangular enter the following in the "Shape" field - "Mostly Rectangular". If the shape is completely rectangular, enter the following in the "Shape" field - "Rectangular". If the shape is anything but rectangular, enter the following in the "Shape" field - "Irregular".

Specific Zoning Classification - Enter the Zoning Classification as found on the County Records provided. Enter "(Per county records)" after the zoning classification. For example, if county records shows R5, enter the following in Specific Zoning Classification "R5 (Per county records)".

Zoning Description - This is a list of the most common ones used in Subject's market. If the Specific Zoning Classification is not listed here, leave the Zoning Description on the report blank.
i. R-5 - Residential, minimum lot size 5,000 SF
ii. R-7.5 - Residential, minimum lot size 7,500 SF
iii. R-10 - Residential, minimum lot size 10,000 SF
iv. A1 - Low Density Apartment
v. A2 - Medium Density Apartment
vi. A3 - High Density Apartment
vii. A or AG - Agricultural District
FEMA Flood Hazard Area - The Fema Flood Service will obtain this information. Do not do anything for this area. PLAT MAP - While in the Site Section, enter the Plat Map into the report.

How to put in plat map
1. Go to http://gis.hicentral.com/Pubwebsite
2. Select Search then Property Address and enter either the address or tmk
. If using tmk do not enter the #1 at the beginning of the tmk # and enter the rest of the #s in this format -> X-X-XXX-XXX-XXXX
. An information sheet may come up in a separate window. If it does, save it and send it when you send the report back (File / Print is the best way for it to be viewed - save as a pdf named "DPP info") . This information sheet can be closed once it has been saved.
3. On the main screen, select "TMK" from top left of screen
4. Click on the parcel (should be highlighted on the screen) to view the tmk info.
5. A white box will show up over the parcel. If the white box is not fully extended, select the arrow button at the top right hand corner of the white box.
6. If the information sheet did not come up as described in item 2b above, Select "View Parcel Details" otherwise an information sheet will come up - save this as "DPP info" and send when you send the report back. This can be closed once it has been saved.
7. Once you have saved the information sheet, next select "View PDF" - a plat map will come up
8. Select "File" then "Save a Copy" and send when you send the report back.
9. In the PDF of the plat map, Select "View" then "Zoom" then "Zoom To" and zoom in to 75%
10. Move the scroll bars on the bottom and right of the screen so that the parcel shows well on the screen and preferably so that the street name also shows. 11. Select "File" then "Print" and select "Current View" under Print Range
12. Save file as "Plat Map" and send when you send the report back
13. In appraisal report add the Plat Map to the report
. Select "Add / Document from PDF" (top tool bar with drop down)
. Put the plat map in with Quality Settings set to "Maintain highest possible quality" and "Full Page Legal Document"
. Title of Form should be "Plat Map"
14. Once the plat map is in the report, go to that form and double click on the plat map
15. If the plat map is sideways in the report select "Enhance" then rotate it so that it is properly viewed
16. Next Select "Annotate"
. Add a balloon to the actual parcel on the plat map for the Subject property making sure that all of the dimensions and writing on the plat map are visible
. Make sure that the font (Select Font on the Annotate screen) is set to Arial Bold 14, Back Color can be any color, Text Black
. Select "Finish" in the top right of the screen once the balloon is on the map and this will put the plat map in the report with the Subject parcel annotated.
Condos - Project Site section Size and Density - A spreadsheet titled Condo Biennial Registration (shown as BRS in template) will be provided. This spreadsheet will contain the size of the project and the Density of the project. Condos - Project Information Fill in the items for the Site Section as indicated on the Data Information Template.
Abbreviations:
1. CR = County Records 2. BRS - Condo Biennial Registration Spreadsheet provided in order
Notes:

1. BRS will indicate if the project is not completed. If it is completed, enter N/A in all of the fields of the "If Project Incomplete" section as shown on the Data Information Template.
2. BRS will show if the project was a conversion or not. If not, check the No box. If it was a conversion, check the Yes box and enter the data from the BRS.
3. BRS will show if there is any commercial space. If not, check the No box. If there is commercial space, check the Yes box and enter the data from the BRS.

Unit Description or Improvements Section

Fill out the items indicated on the Onsite Inspection Form (OIF) for the Unit Description or Improvement section. Any items not filled out on the OIF leave blank in the report.

Top of sales grid - comparable properties offered for sale and sold section

This information is also obtained from the 1004MC spreadsheet - Results tab - fields 33B through 37D

Sales grid

Comps - all data will come from the MLS sheets provided.
Consistency in the sales grid is of the utmost importance. Follow the pattern shown in the column for the Subject.

Prior sales history section

1. Enter the last date and price of sale for the Subject and all Comparables regardless of how long ago it was. If there is more than 1 sale or transfer of a comparable within 12 months from its date of sale, use the top line for the most recent sale (Date - Price format) and the second line for the next most recent.
2. If the Subject's prior sale is within the last 36 months, mark the "Did" box in the "My research did reveal ..." section. If the Subject's prior sale is over the last 36 months, mark the "Did Not" box in the "My research did reveal ..." section.
3. Leave the "My research..." boxes empty for the Comparables as these will be completed as part of the final reconciliation.
4. The effective date of data source will always be the date that the data entry is completed.
5. In the Analysis section of prior sales, enter the appropriate information as indicated on the Data Information Template.
6. Data for the prior sales of the Comparables will be obtained from the county records provided as part of the order.

Supplemental Text Addendum

Under the section titled CMA Addendum as shown in the Data Information Template that there are two graphs entered as an example. These graphs come from the 1004MC spreadsheet. In the Results tab on the spreadsheet to the far right are the 2 graphs that need to be entered in the report. Once they are in the report, if you double click on the graph you can scale it down to 55% size. Please note the spacing on these two graphs as well as shown in the Data Information Template

Market Conditions Addendum

This data will come from the 1004MC spreadsheet that will be provided.

1. Enter the information from the 1004MC SH from the areas shown on the Data Information Template.
2. The areas on the 1004MC that show N/A should remain "N/A"
3. Foreclosure section: In the 1004MC spreadsheet in the Data Input tab there is a Foreclosure trend section (Fields G15 - K18).

Note: If the % of sales as shown in field K15 is over 10%, mark the foreclosure box on the 1004MC Form in the report YES and enter the following data --> "Of the (# found in 1004MC SH Data Input Tab Field G15) comparable sales listed in the MLS sold in the last 12 months (# found in 1004MC SH Data Input Tab Field H15) were listed as foreclosure, lender, or short sales. This is approximately (# found in 1004MC SH Data Input Tab Field K15) % of the comparable sales sold in the last 12 months. Of the (# found in 1004MC SH Data Input Tab Field G18) active comparable sales currently listed, (# found in 1004MC SH Data Input Tab Field H18) are listed as foreclosure, lender, or short sales, or approximately (# found in 1004MC SH Data Input Tab Field K18) %.

Note: If the field K15 is less than 10% enter the following --> "Of the (# found in 1004MC SH Data Input Tab Field G15) comparable sales listed in the MLS sold in the last 12 months (# found in 1004MC SH Data Input Tab Field H15) were listed as foreclosure, lender, or short sales. This is approximately (# found in 1004MC SH Data Input Tab Field K15) % of the comparable sales sold in the last 12 months which does not represent a significant factor in the market. Of the (# found in 1004MC SH Data Input Tab Field G18) active comparable sales currently listed, (# found in 1004MC SH Data Input Tab Field H18) are listed as foreclosure, lender, or short sales, or approximately (# found in 1004MC SH Data Input Tab Field K18) %.

4. Condo section - there will be 2 spreadsheets provided, one titled "Spreadsheet for the 1004 MC 4b for Tempo" and one titled "Spreadsheet for the 1004 MC 4b for Tempo - project". Use the Spreadsheet for the 1004 MC 4b for Tempo for the data at the top section of the 1004MC and the Spreadsheet for the 1004 MC 4b for Tempo - project for the lower section of the 1004MC

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