Well, it does say that, but that is not really how it was written in the regulations - the deferral was added to the section addressing any transaction that requires a certified or licensed appraisal.
Might be time for a call to your EIC and get their take on it - but you could be correct. The term "acquisition" is not otherwise defined in the regulation.
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Section 34.43 is amended by adding paragraph (f) to read as follows:
§ 34.43 Appraisals required; transactions requiring a State certified or licensed appraiser.
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(f) Deferrals of appraisals and evaluations for certain residential and commercial transactions—
(1) 120-day grace period. The completion of appraisals and evaluations required under paragraphs (a) and (b) of this section may be deferred up to 120 days from the date of closing.
(2) Covered transactions. The deferrals authorized under paragraph (f)(1) of this section apply to all residential and commercial real estate secured transactions, excluding transactions for acquisition, development, and construction of real estate.
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