英文版房屋评估报告.doc

Appraisal Report of Real Estate of No. 23-1-601, Ruiwan Garden, Northwest of Intersection of Changjiang Road and Xiangyang Road, Nankai DistrictReal EstateAppraisal Report Project Name: Appraisal Report of Real Estate of Consignor： Ms. Consignee： Tianjin Wanda Real Estate Appraisal Co., Ltd.Appraiser： , Certified Real Estate AppraiserDate of Appraisal：From August 29th, 2011 to September 1st, 2011File No.: Tianjin Wanda Ral Estate Appraisal(2011) No.1101232ContentLetter to consignor3.Statement of assessor4.Pretext and limitation condition of appraisal6.Appraisal report of conclusion7V. Annexation11VI. Technical Report of appraisal (Only for file and review by authority in charge of)14Letter to ConsignorTo: Ms. Shen WenUnder your consignment, we, in accordance with the GB/T 50291 -1999 Code for Real Estate Appraisal of P.R.C and relevant rules and regulations, hereby valued the subject residential real estate in steel and concrete structure with 116.91 of building area and 58.4 of an area with use right of State-owned land, located at No. 23-1-601, Ruiwan Garden, Northwest of Intersection of Changjiang Road and Xiangyang Road, Nankai District with the purpose of concluding the open market price for the consignors reference as of the date when we perform the appraisal. The objective valuation is conducted based on the effective values as of the appraisal date August 29th, 2011.Following standard appraisal procedure and principle, and according to the purpose of appraisal, we adopted market comparison approach and carried out on-site home inspection and market survey. Thereby, we conclude that the open market value of the subject property as of the appraisal date is RMB 2,017,700 (RMB 17,259 per square meter), said RMB Yuan TWO MILLION SEVENTEEN THOUSAND SEVEN HUNDRED. Tianjin Wanda Real Estate Appraisal Co., Ltd.Legal Representative (Seal)：Huang JishengSeptember 1st, 2011Statement of AppraiserWe hereby solemnly declare that 1. The facts stated in our appraisal report are genuine and accurate. 2. We do not have any benefit relation to the appraisal object and neither have any benefit relation and prejudice with regards to the relative parties. 3. According to the National Standard GB/T50291-1999 Code for Real Estate Appraisal, we made our analysis, remark and conclusion and compile this appraisal report. 4. The analysis, remarks and conclusion made in our appraisal report are based on our professional and fair judgment, but limited by the precondition and restrictive condition for appraisal specified in the appraisal report.5. The consignor, i.e. Shen Wen shall be liable for the authenticity of the original documents based on which we made this appraisal. If the material was untruth, the appraisal price is ineffective. Then the consignor is responsible for legal liability.6. The certified real estate appraiser Dong Yingmei and Huang Jiwang of our company have carried out on-site inspection on appraisal object mentioned in the appraisal report, but did not conduct site measurement and our on-site inspection on appraisal object is limited to its appearance and usage, as far as the covered, not exposed and difficult to be observed parts are assessed on the basis of information provided by consignor. We do not assume the responsibility of quality investigations on the building inner structure of the appraisal object.7. The appraisal report shall be valid subject to being sealed stamps by two certified appraisers and the appraisal company. A copy is invalid. 8. The appraisal was performed without any professional help other than our own staff.9. Appraiser:Dong Yingmei, China Certified Real Estate Appraiser. Certification No. 1220080012Huang Jiwang, China Certified Real Estate Appraiser. Certification No. 1220070025Hypotheses and Restriction of the AppraisalI. Hypotheses of the Appraisal 1. The real estate market is open and fair when the appraisal is carried out. 2. All documents provided by the consignor are real, complete, legal and valid. 3. The ownership of the subject property is clearly established, and no ownership dispute is involved at the time point of the valuation. 4. The subject propertys condition at the time point of the valuation is consistent with the condition on the day performing on-site inspection. 5. The subject property, within expiration, will be maintained in normal condition to use.II. Restriction of the Appraisal 1. The appraisal report is valid for one year from the date when issued. 2. The appraisal report must be used completely. The appraisal company shall not be liable for any loss caused by using part of the said report. The right to interpretation of relevant technical issues shall be reserved by Tianjin Fangda Real Estate Appraisal Co., Ltd. 3. The report is composed of Real Estate Valuation Report and Real Estate Valuation Technical Report. The appraisal company provides the consignor with the Real Estate Valuation Report, and Real Estate Valuation Technical Report.shall be filed by the consignee and submitted to the industrial administrative authority for review. 4. The valuation for the subject property is concluded as an open real estate market reference price with consideration of appraisal purpose. Other factors that may affect the conclusion, such as other purposes apart from the specified purpose, special trade condition, changes in national macroeconomic and social policies and force majeure, are not taken into consideration for valuation conclusion. 5. Within the term of validity of the report, when changes in the national macroeconomic and social policies exert great impact to real estate market, corresponding adjustment should be done to the valuation result. 6. Complete or partial content of the appraisal report shall not be disclosed to any third party, or publicized on any media without permission from the consignor and the appraisal company. III. Notice1. Professional analysis contained in this report, such as real estate market forecast, are made by the appraisers according to the market status at the appraisal time for the consignors reference. Because the deduction and forecast are limited by appraisers working experience and capability, we remind user of the report to notice the limitation. 2. The report only service as a reference for the appraisal purpose defined by the consignor.3. The appraisal is conducted based on the above mentioned hypotheses and restrictive conditions. If there is any change in these hypotheses and restrictions, adjustment shall be done to the report result. 7Tianjin Wanda Real Estate Appraisal Co.,Ltd. Tele66281987 Fax:66281986 Appraisal Report of Real Estate of No. 23-1-601, Ruiwan Garden, Northwest of Intersection of Changjiang Road and Xiangyang Road, Nankai DistrictReport of Appraisal Conclusion I. Consignor:Name of Consignor：Li JuanAddress： No. 23-1-601, Ruiwan Garden, Northwest of Intersection of Changjiang Road and Xiangyang Road, Nankai DistrictII. Appraisal Party:Appraisal Company: Tianjin Wanda Real Estate Appraisal Co., Ltd.Office Address：2-4-202, No. 10 the Second Avenue, TEDA, TianjinLegal Person Representative: Huang JishengQualification Grade: Grade IICertificate No.: (2007) Tianjin Real Estate Valuation Certificate, Zi No. 7Tele:II. Appraisal Subject：The subject property for this appraisal is residential real estate located at No. 23-1-601, Ruiwan Garden, Northwest of Intersection of Changjiang Road and Xiangyang Road, Nankai District. The condition of the subject property is as follow:1. Property Right StatusReal Estate Bureau of Nankai District, Tianjin has reviewed and approved the subject property and issued the bellowing Real Estate Property Ownership Certificate： Certificate No.Real Estate Ownership Certificate Jin No. 104021117929Estate ProprietorShen WenLocationNo. 23-1-601, Ruiwan Garden, Northwest of Intersection of Changjiang Road and Xiangyang Road, Nankai DistrictType of Property RightPrivate propertyLandLand No.0301-（08）-020-01Cheng I Zi 1290-23Drawing No.300-90-IV-55，56，66，75，76Land ownership State ownershipPurposeTown housing landType of right to use landTransferExpiration date2075-10-17Right to use an area58.4m2HouseApartment No.StructureTotal Floor Number of the Building Floor No.CoverageDesign purposes23-1-601Reinforced Concrete1116116.91m2ResidenceOther rights /Right value/Agreed period/According to this Real Estate Property Ownership Certificate offered by the consignor, the subject property is not subject to co-ownership and involved into mortgage and guarantee.2. Condition of the Subject Property外檐装修刷涂料.0梯户数1梯2户房 型2室2厅1卫朝 向南北建成年代2008年层高2.8米成新率十成新基础设施通路、通上下水、通电、通讯、天然气、对讲系统、电梯外檐窗断桥铝物业管理有物业公司名称万科物业管理有限公司/物业费2.0元/M2小区规模中型所在小区位置东侧特殊景观无绿化率较高室内装修地 面厅： 瓷砖 卧室 ：复合地板 厨房、卫生间 ：瓷砖墙 壁厅、卧室：乳胶漆 厨房、卫生间 ：瓷砖到顶屋 顶厅：石膏板吊顶 ； 卧室：乳胶漆 ； 厨房、卫生间 ：铝扣板吊顶设 施卫生间 ：坐便器、洗手盆、化妆台、浴房、电热水器；厨房 ：洗菜盆、料理盆、地柜、吊柜 。使用状况自用是否拆改是（一室和客厅打通）停车位有After our appraisers on-site inspection, we confirm that the main structure is in well condition, the interior facility and decoration is in high standard and in good condition.3. Land Status and Ambient Environment of the Subject PropertyThe land used by the subject property located at No. 23-1-601, Ruiwan Garden, Nankai District is owned by the State. The area of land use right is 58.4 sq meters expired till October 17th, 2075. Development degree of the subject property: “seven access” inside red line of parcel of land (water supply, water drainage, power supply, gas, circuit, heat and communication), “seven access” outside the red line of parcel of land (water supply, water drainage, power supply, gas, circuit, heat and communication). The ground is flat. Ruiwan Garden is next to Xiangyang Road on the east, Yejin Road on the west, Changjiang Road on the south and Huanghe Road on the north. In its vicinity, there are such public facilities as Huanghe Road Primary School, Nankai Primary School, No. 74 Middle School, No. 65 Middle School, No. 43 Middle School, Nankai No. 15 Kindergarten, Wumart Supermarket, Huarun Wanjia Supermarket, Changhong Park, Yejin Road vegetable market and so on. It is also conveniently accessible. No. 678, 842, 622, 3 and other buses pass the garden. The subject property is located in Ruiwan Garden with complete interior facility, beautiful scene and friendly community environment.IV. Purpose of Appraisal This appraisal is to value the open market price of the subject property at the appraisal time, and supply reference for the consignor. V. Appraisal Date: August 29th, 2011.VI. Definition of Price The appraisal adopts the market price standard of the real estate, that is, the appraisal is complying with the market price on the appraisal date August 29th, 2011. And the open market price is subject to the unvaried property usage, economic environment, hypotheses hereof and the specified appraisal purpose. VII. Appraisal Basis1. Administration Rule of Urban Real Estate of P. R. China2. Administration Rule of Land Use of P. R. China 3. Security Law of P. R. China4. Regulations on Real Estate Valuation5. Information gained on the on-site inspection to the subject property by the appraisers6. Appraisers market survey documentsVIII. Appraisal Principles:We observe the principles of independence, objectiveness, fairness, legitimacy, prudence and such technical principles as maximal and optimal use, appraisal time and replacement. 1. Principle of independence, objectiveness and fairness The appraisal is based on sufficient investigation, comprehension and analysis of the actual conditions of the appraised object, strictly obeys the relevant laws and decrees of the state, Shanxi Province and Taiyuan Municipality, considers the interests of correlative parties fully, follows scientific appraisal procedures, adopts reasonable and suitable appraisal methods and through careful and accurate calculation. 2. Principle of legalityThe real estate appraisal shall be conducted on the basis of the legal proprietorship of the real estate, which contains the legal obtainment, legal use, legal transaction or disposition, etc.3. Principle of PrudenceWe shall not overestimate benefits and costs, and shall not choose cases with higher deal price; we shall not underestimate cost rate and choose lower relative parameters either. Prudence is necessary before making professional judgment under uncertain situations.4. Principle of Maximal and Optimal UseThe appraisal of the real estate shall be based on the maximal and optimal use.The maximal and optimal use means enabling the appraised object to generate the maximal value legally allowed, technically possible, economically feasible and after reasonable argument.5. Principle of Appraisal TimeThis principle emphasizes that the appraisal result is time dependent and time effective. As the real estate market is ever-changing, the same real estate always has different prices at different appraisal time. The appraisal result is the objective and reasonable price or value of the appraised object at the appraisal time.6. Principle of ReplacementThe appraisal result shall not deviate from the normal price of similar property under similar conditions obviously. Similar property refers to real estate in comparable search area and equal or similar to the appraised object concerning the function, scope, grade and building structure. Comparable search area means the regional range where the real estate may replace the appraised object or affect the price of the appraised object.IX. Appraisal Method:According to the appraisal purpose, the development degree of the subject property and the appraisal purpose, appraisal method was determined after real estate market survey and on-site inspection to the subject property. Considering that the subject property is residential real estate, the market of which is active and has certain amount of transaction recently, the appraisers value the price of the appraised object by market comparison method. This method is to anticipate the normal net profit of the appraised object in the future and choose suitable capitalization rate to discount such profit to the appraisal time for accumulation, in order to estimate the objective and reasonable price or