May 23, 2012

Sale Prices Versus Appraised Value

Question: If the appraised value and the sale price of a home are different, which will lenders use when granting a mortgage?

Answer: Whichever is lower.

Lenders want as little risk as possible, so they will look at both the sale price and the appraised value and then make a loan based on the lower of the two numbers.


Written by Peter G. Miller.

© 1997 Peter G. Miller. All Rights Reserved. Rules, Disclaimers & Notices.


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