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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.
The starting bid has been set below the appraised value to generate interest.
He bought it for $1.3 million, about the appraised value of the 15 acres.
The appraised value, he adds, is "the retail value for insurance purposes".
The appraised value of the house to be purchased can range as high as $259,350.
"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.
The Canadians had misgivings because the appraised value of the land was $1.7 million.
The museum agreed to pay $18 million, about half the appraised value of the property.
The museum would pay $18 million, about half the appraised value of the property.
That compares to $101,500 for the appraised value of the property the federal government would receive in trade.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com