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1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />E. V. DOLAN CO. <br />REALTOR AND APPRAISER <br />MARKET APPROACH <br />E. VINCENT DOLAN, M.A.I. <br />NORTHERN FEDERAL BUILDING <br />ST. PAU L, M I NN ESOTA 55102 <br />In this approach the appraiser looks at the subject as a real estate <br />entity and then compares it with similar properties which have sold <br />recently or are now offered for sale. The appraiser endeavors to find <br />properties which are believed to have a high degree of similarity, and <br />to determine_ if both the buyer and seller were well informed as to all <br />the uses to which the property could be used, and that both were acting <br />prudently without undue stimulus, thereby making the sale truly repre— <br />sentative of the market. <br />' <br />Although a large number of sales and offerings may have been considered, <br />only those <br />properties which are most comparable have been included in <br />this <br />report. I have compared these sales to the subject and have con— <br />sidered the factors influencing <br />their value and have reflected these <br />findings in my estimate of value. Some <br />of the items luence <br />the value of the land are the size, utilities, shape and ctopiofraphy, <br />topography, <br />i <br />also the zoning; and highest and best use. The improvements <br />are <br />by condition, age, size, Jesign, mechanical equipment a ui and <br />q P 1 <br />qudlity of the materials. <br />The approach is based on the premise that a prudent buyer will ay <br />I <br />p no <br />more for a property than it 'ill cost to obtain .r similar property in <br />a similar location. <br />E <br />f <br />1 <br />1 <br />J <br />1 <br />,f 11 Page 6 <br />