HomeMy WebLinkAboutCity of Auburn.Appraisal Review Services Agreement (002).pdf The Eastman Company
Real Estate Appraisers/Analysts/Consultants Phone(206)363-6611
6206-35th Avenue NE paul@wavalue.com
Seattle, WA 98115
Appraisal Review Services Agreement
June 11, 2020
Paul Zemtseff
The Eastman Company
6206 35th Avenue NE
Seattle, WA 98115
City of Auburn
C/O Josh Arndt
Sr. Economic Development Officer
Re: Desk Review of Appraisal performed by ABS Valuation of single family residence
located at 31826 102nd Avenue SE in Auburn WA, 98092
Dear Mr. Arndt:
Paul Zemtseff of The Eastman Company shall prepare a desk review (containing a
determination of value certificate) of the aforementioned appraisal, in accordance with the
requirements of the Uniform Standards of Professional Appraisal Practice (USPAP) and
the Washington State Department of Transportation (WSDOT) for a non-federally funded
proposed acquisition/grant project, at an all-inclusive, not-to-exceed cost of $950, with
work to commence upon formal award of contract/notification to proceed and receipt of a
copy of the appraisal to be reviewed. Report delivery shall occur within 7 to 14 days,
assuming timely turnaround of any necessary report revisions as may required of the
appraiser/ABS Valuation during the review process.
It is understood the intended use of this appraisal review is to assist the client, the City of
Auburn, in substantiating the opinion of the market value of the proposed fee simple rights
to be voluntarily acquired (full acquisition) in the subject property, as just compensation
due the owner per the reviewer's recommendations and determination of value for use in
decision-making and purchase and sale negotiations. This appraisal review is also intended
to provide the client and other intended users of this report with assurance the appraisal
reviewed complies with the policies, guidelines, standards and requirements for property
acquisition appraisals detailed in Chapter 4 and Appendix 4-1 (Appraisal Report Guide) of
the Washington State Department of Transportation Right of Way Manual M 26-01.20
(March 2020), as well as all relevant federal, state or local laws and regulations, including,
Appraisal Review Services Agreement
City of Auburn
Page Two of Two
but not limited to, USPAP (Uniform Standards of Professional Appraisal Practice) and
Appraisal Institute appraisal standards and requirements. Intended users are the City of
Auburn and its authorized employees, representatives or agents and/or other intended
funding sources for this proposed acquisition.
The following signatures constitute formalization of this agreement on behalf of The City
of Auburn and The Eastman Company.
For: The City of Auburn For: The Eastman Company
DocuSigned by:
6/11/2020
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Jo`przxF giCB88FCCA4c6... Date Paul Zemtseff Date
Sr. Economic Development Officer President