Specifications include, but are not limited to: I. General Background 1) Adequate description of the physical characteristic of the property; 2) Personal property; 3) Statement of known and observed encumbrances; 4) Title information; 5) Location; 6) Zoning; 7) Present use; 8) Highest and Best Use; 9) 5-year sales history of the property II. Vendor shall use a relevant and reliable approach to value, consistent with Federal and Federally assisted program appraisal practices. III. Description of comparable sales; including a description for all relevant physical, legal and economic factors, such as parties to the transaction, source and method of financing, and verification by a party involved in the transaction. IV. A statement of value of the real property to be acquired. V. The effective date of the valuation, date of appraisal, signature, and certification of the appraiser.