Answer:
If you do an evaluation to determine the property’s value, it’s disclosed as the “Appraised Prop. Value”.
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Labeling the property value
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Question:
For the property value disclosure on the Closing Disclosure, if, instead of obtaining an appraisal from a licensed/certified appraiser, the bank prepared a property evaluation internally, and relied on that value to make the credit decision, is the value disclosed as “Appraised Prop. Value” or “Estimated Prop. Value”?
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