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Appraisal Services (fee, dual and review appraisal) <br />1. OPC will mail a notification letter and acquisition policies brochure to the <br />property owner, requesting permission to conduct an on-site inspection of the <br />property, advising them of their right to accompany the appraiser(s) at the time of <br />the inspection, and requesting information regarding the property appraised which <br />could influence the appraised value. <br />2. Appraiser will review title information pertaining to respective ownerships and <br />will review drawings and other pertinent information relative to the parcel. <br />3. Appraiser will inspect each property personally with the owner (if possible) and <br />document the inspection with photographs for use in the report. <br />4. Appraiser will inventory all improvements affected by the proposed taking <br />including notes on their manner of disposition (i.e., pay-for and remove vs. move <br />back). <br />5. Appraiser will perform market research to support the selected appraisal <br />methodologies and will document and confirm comparable sales information. <br />6. Appraiser will prepare a narrative appraisal report that conforms to the Uniform <br />Standards of Professional Appraisal Practice (USPAP). The appraisal study and <br />report are intended to serve as an acquisifion appraisal and will be prepared in a <br />summary format consistent with the specifications for narrative appraisal reports. <br />7. OPC to obtain a dual appraisal for any property appraised at $500,000 (five <br />hundred thousand dollars) or higher in accordance with the Caltrans Right of Way <br />Manual (unless waiver is granted by Caltrans increasing threshold to $1,000,000). <br />8. Upon completion of the fee and dual appraisals, a formal review will be <br />conducted by an independent appraiser in accordance with USPAP and Caltrans <br />Appraisal Review procedures. <br />Acquisition Services -Fee Owner <br />1. Establish and maintain complete and current ownership files in a form acceptable <br />to the client. <br />2. Receive and analyze title information, approved appraisal reports and legal <br />descriptions in sufficient detail to negotiate with property owners and other <br />parties. <br />3. Prepare all offer letters, summary statements, and lists of compensable items of <br />fixtures and equipment, in accordance with state or federal regulations and <br />approval of client. <br />4. Present written purchase offers to owners or their representatives in person, when <br />possible. Secure receipt of delivery of offer as practical and present and secure <br />tenant information statements, as applicable. <br />5. Notify relocation agent of initiation of negotiations within 2 business days and <br />provide appraisal information, occupant contact information, and tenant <br />information as necessary. <br />6. Follow-up and negotiate with each property owner, as necessary; prepare and <br />submit recommended settlement justifications to client for review and approval; <br />review any independent appraisal secured by property owner and coordinate <br />to <br />3-14 <br />