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Disclosure of Property Value instead of Sales Price

When do we disclose Property Value instead of Sales Price?

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 01/12/2020

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