He offered to pay the appraised price for the Powell diaries, he said, but university policy prevents him from going above that.
A house that he thought would bring $200,000 — its appraised price three years ago — in fact might bring only $90,000 if he were to sell it today.
We'll only give you X amount of dollars,' and we said, 'That wasn't what we had agreed to.' And they said, 'Tough.' " Determined to sell the house, Mr. Gumpel and his wife got a bid that was higher than the appraised price.
You still have all the rights you normally would otherwise but should you sell, you sell for a fraction of the home's appraised price.
According to the warrants, many of the artifacts were sold to the donors for around $1,500 each and then appraised at prices just shy of $5,000.
"In addition, homes are being appraised at higher prices for refinancing, without an actual home sale taking place.
In other words, Friedman believes that economic theories should be appraised in terms of their predictions concerning prices and quantities exchanged on markets.
The payments are not to exceed 2percentt of a sales price or appraised value, whichever is less.
