Please fill out this form, save it to your computer, then submit it via Turnitin.com

(see “Submit Written Assignments and Projects” on your Course Resources webpage for details)

APPLICATION TO REGISTER A SUBJECT PROPERTY
BUSI 398
RESIDENTIALPROPERTY GUIDED CASE STUDY
Student's Name:
Student Number:
Phone Number:

Email Address:

Date of Application:

Street Address of Property to Be Appraised:


Postal Code (MANDATORY):

Legal Description:


Effective Date of Appraisal (optional at this point):

Verified that property is available using the BUSI 398Course Resources webpage: □
Completed Subject Property Checklist: Mandatory Requirements (Figure 4.1): □
Completed Subject Property Checklist: Recommended Requirements (Figure 4.2): □
Figure 4.1: Subject Property Checklist: Mandatory Requirements
Consider the following statements and research criteria (in brackets) carefully before checking off the items.
1.Sufficient market information is available.
Briefly explain in 1-2 sentences how you have confirmed this.
2.Comparable land sales exist such that the majority precede the effective date of appraisal. (Minimum requirement of four land sales from different vendors; if there is more than one sale from the same vendor,you will need to explain why).
Briefly explain in 1-2 sentences how you have confirmed this.
3.Comparable improved property sales exist such that the majority precede the effective date of appraisal. (Minimum requirement of four comparable sales).
Briefly explain in 1-2 sentences how you have confirmed this.
4.House is at least 5 years old as of the effective date of appraisal. (Minimum requirement to demonstrate all three types of depreciation: repair, short–lived and long-lived).
What is the age of the house?
5.The effective date of appraisal does not precede the date of registration and approval of the student's choice of subject property by more than five years.
You are not required to commit to an effective date at this point – but outline your initial thoughts on the dateyou plan to choose, so your tutor may provide advice.(1-2 sentences).
6.Site as if vacant can be sold on its own.
Briefly explain in 1-2 sentences how you have concluded/verified this?
7.Property rights being appraised are fee simple.
Briefly explain how you have concluded/verified the subject’s interest is fee simple (1-2 sentences). Are there any leases that must be considered? Are there any condominium interests or other partial interests that may cause complications? Lesser interests are unacceptable however, if they exist; you will need to consult with your tutor on how to handle /discuss them in your final report.
8.Highest and best use is as a single-family residential property.
Briefly explain in 1-2 sentences how you concluded/ verified this?
9.Site appears to beimproved to its highest and best use. (Consider highest and best use of site both as if vacant and as improved)
Briefly explain in 1-2 sentences how you concluded/verified this?
10.Subject has at least one actual example of physical deterioration, curable.
Provide at least one example.
11. Access to; and the physical inspection of the interior and exterior of the subject property.
Access is necessary to complete the report. Doyou have consent from the property owner, or landlord to inspect the property? Is it in writing? Briefly explain.
Figure 4.2: Subject Property Checklist: Recommended Requirements
(in order to minimize the implications on work required for the assignments)
12.Subject has / does not have actual examples of functional or external obsolescence.
State which is relevant and briefly explain in 1-2sentences how you have concluded/verifiedthis.
13.Subject represents either a legal conforming or legal non-conforming use.
State which is relevant and briefly explain in 1-2 sentences how you have concluded/verified this.
14. Subject has /does not have any encumbrances on title.
State which is relevant and briefly explain in 1-2 sentences how you have concluded/verified this.
15.Municipality would permit the subject building(s) to be rebuilt if destroyed.
Question relates to highest and best use - if this is the case, briefly explain in 1-2 sentences how you have concluded/verified this.
16.Subject has / does not have known structural deficiencies.
State which is relevant and brieflyexplain in 1-2 sentences how you have concluded/verified this.
17.Subject has / does not have heritage designation.
State which is relevant and brieflyexplain in 1-2 sentences how you have concluded/verified this.
18.Subject has / does not have known environmental contamination issues.
State which is relevant and briefly explain in 1-2 sentences how you have concluded/verified this.
19.Subject appears to be a standard lot relative to the subject neighbourhood.
Briefly explain how your subject relates to other properties. If your subject property is atypical of those in your neighbourhood/market area, consider how this will impact value. Briefly explain in 1-2 sentences.
20.Subjectimprovementsappears to be typicalof many others in the neighbourbood/market.
Briefly explain how your subject relates to other properties. If your subject property is atypical of those in your neighbourhood/market area, consider how this will impact value. Briefly explain in 1-2 sentences.
21.Site coverage (building area to lot area ratio) appears to be typical of that of similar properties.
Briefly explain how your subject relates to other properties. If your subject property is atypical, (for e.g. excess land) of those in your neighbourhood/market area - consider how this will impact value. Briefly explain in 1-2 sentences.
22.House floor plan/s and plot plan (setbacks and improvements shown) are available for the subject property.
Do you have a copy of these plans – if not, how will you access them?
This worksheet is to help ensure that your chosen subject property is optimal for completing this course. If you find your property presents difficulties in the areas noted above, then you should discuss this with your tutorbefore submitting this assignment. The goal is to help you avoid problems before they arise, because if you are forced to change subject properties later in the course, you will have wasted a lot of time and effort!