Professional disclaimers

and LIMITING conditions

1. Purpose of this section

The following professional disclaimers, general assumptions, and limiting conditions apply to every appraisal report issued by Spurgeon Appraisals LLC unless specifically modified in the report. They are part of the report and should be read together with it.

2. Opinion of value only

An appraisal is an opinion of value as of a specific effective date, based on data available and market conditions at that time. It is not a guarantee of value, a prediction of future value, or an offer to purchase.

3. Not a home or building inspection

The appraiser is not a home inspector, structural engineer, or building contractor. The inspection is limited to observing readily accessible areas for valuation purposes and is not a guarantee against defects. Clients should hire qualified inspectors for such concerns.

4. Title and legal matters

No responsibility is assumed for legal matters, including title, which is assumed to be good and marketable. The property is appraised as free and clear of liens and encumbrances unless otherwise stated. No survey was performed; legal descriptions and boundaries are assumed to be correct.

5. Information from others

Information, estimates, and data provided by the client, owner, public records, and other sources are believed to be reliable, but no warranty is given for their accuracy.

6. HIDDEN or UNAPPARENT conditions

It is assumed that there are no hidden or unapparent conditions of the property, soil, subsoil, or structures that would make it more or less valuable. No responsibility is assumed for such conditions or for engineering needed to discover them.

7. Environmental conditions

Unless otherwise stated, the appraiser has no knowledge of hazardous substances (such as asbestos, mold, radon, lead-based paint, petroleum products, or underground storage tanks) on or near the property and is not qualified to detect them. The value assumes no such conditions exist.

8. Zoning, permits, and compliance

It is assumed that the property complies with all applicable zoning, use, building, and environmental regulations, and that all required licenses, permits, and certificates of occupancy have been or can be obtained, unless otherwise stated in the report.

9. Americans with Disabilities Act

The appraiser has not performed a compliance survey under the Americans with Disabilities Act. Non-compliance could affect the value of the property.

10. Farm and agricultural property

For agricultural assignments, soil classifications, productivity ratings, acreage, and water or mineral rights are based on public sources such as NRCS soil survey data, FSA records, and county records, unless otherwise stated. Mineral, water, and crop values are not included unless specifically identified in the report.

11. Measurement and sketches

Sketches, maps, and photographs in the report are included to help the reader visualize the property and are not to scale unless stated. Building measurements are made for valuation purposes and may differ from other sources.

12. Extraordinary assumptions and hypothetical conditions

When the report uses an extraordinary assumption or hypothetical condition, it will be clearly stated. Its use may have affected the assignment results.

13. Allocation of value

Any allocation of total value between land and improvements applies only under the stated use and is not valid if used separately or in any other appraisal.

14. Intended use and intended users

The report is prepared only for the client and intended users named in it, for the stated intended use. Use by any other party or for any other purpose is not authorized, and the appraiser assumes no responsibility for such use.

15. Testimony

The appraiser is not required to give testimony or attend court or hearings because of this appraisal unless arrangements have been made in advance, at additional cost.

16. Publications

Neither all nor any part of the report may be conveyed to the public through advertising, public relations, news, sales, or other media without the prior written consent of the appraiser.

17. Market changes after the effective date

The appraiser is not responsible for changes in market conditions, the economy, or the property that occur after the effective date of the appraisal.

18. Liability of the appraiser

The liability of the appraiser and Spurgeon Appraisals LLC is limited to the client and to the fee collected for the assignment, as stated in our Terms and Conditions.

19. Professional standards

Appraisals are prepared in conformity with the Uniform Standards of Professional Appraisal Practice (USPAP) and, where applicable, the requirements of the client, lender, or government agency. Our appraisers are state-licensed or certified in the states where they perform assignments.