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Some banks will lend up to 100percentt of the appraised value, but that means buyers will need to come up with the difference between the appraised value and the agreed-upon price.
Mr. Forgette took the bait, named a price and earlier this month the house sold for $6.5 million, 8 percent above the appraised value.
I even ordered an appraisal last December, to find out the market value of the apartment, and then offered to pay the appraised value.
First, any claim is subject to the deductible, whereas a claim on a valuable personal property policy will be covered for the appraised amount.
If calculating that way, first divide the appraised retail value [$2950.00] in half, which would be: $1475.00.
"Value" refers to the appraised value.
The appraised value, he adds, is "the retail value for insurance purposes".
He bought it for $1.3 million, about the appraised value of the 15 acres.
"It's a kind of insurance based on the appraised value of the house".
More often, the buyer and seller meet halfway between the original price and the appraised value.
Similar(1)
The appraised value of the house to be purchased can range as high as $259,350.
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