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CASH/CONVENTIONAL FINANCING APPRAISAL CONTINGENCY ADDENDUM # dated to Contract of Sale dated between Buyer and Seller for Property known as. The Contract is contingent upon Buyer s obtaining an appraisal

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What is cash conventional financing appraisal?

Cash conventional financing appraisal is a process of evaluating the value of a property that is being purchased using cash and conventional financing. It helps determine the fair market value of the property and is often required by lenders to ensure they are not lending more than the property is worth.

Who is required to file cash conventional financing appraisal?

The person or entity obtaining the financing for the property purchase is typically required to file the cash conventional financing appraisal. This is usually the buyer or the borrower who is applying for a mortgage loan.

How to fill out cash conventional financing appraisal?

To fill out a cash conventional financing appraisal, you will need to provide detailed information about the property, such as its location, size, condition, and any recent renovations. You will also need to include comparable sales data and analysis to support the estimated value of the property. It is recommended to consult a licensed appraiser or use an online appraisal form to ensure accuracy.

What is the purpose of cash conventional financing appraisal?

The purpose of cash conventional financing appraisal is to determine the fair market value of a property in order to assess the risk of the loan and ensure that the property is not overvalued. It provides lenders with an independent and unbiased assessment of the property's value, which impacts the loan amount and terms offered to the borrower.

What information must be reported on cash conventional financing appraisal?

A cash conventional financing appraisal must include details about the property being appraised, such as its address, legal description, and physical characteristics. It should also provide an analysis of comparable sales, an evaluation of the property's condition, and any market trends affecting its value. Additionally, the appraiser must include their professional qualifications and certification details in the appraisal report.

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