Skip to content

Disclosure of Property Value instead of Sales Price

Question: 
When do we disclose Property Value instead of Sales Price?
Answer: 

The Loan Estimate must include:
• For transactions that involve a seller, the contract sale price of the property identified in paragraph (a)(6) of this section, labeled “Sale Price.”
• For transactions that do not involve a seller, the estimated value of the property identified in paragraph (a)(6), labeled “Prop. Value.”

For a construction loan that does not involve the purchase of a lot, disclose the “Prop. Value.”
-----------------------------
Learn more about Jack Holzknecht’s webinar TRID for Construction Loans

First published on 09/22/2019

Filed under: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics