answersLogoWhite

0


Best Answer

The purchase price of the home is not the value of the home. It is what you paid for the home. The value of the home is the appraised value. A lender would look only at the appraised value of a home for lending purposes. If you paid more or less for the home, that is on you.

User Avatar

Wiki User

โˆ™ 2005-11-18 01:24:25
This answer is:
๐Ÿ™
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
User Avatar
Study guides

๐Ÿ““
Create a Study Guide

Add your answer:

Earn +20 pts
Q: How long does the purchase price of the home continue to be the value versus appraised value?
Write your answer...
Submit
Related questions

How can you purchase a house with no money down and get cash back at closing?

There's no way to do that unless the house gets appraised at a higher price then the purchase price. You would have to take out a home equity right away.


How home purchase price affect appraisal value?

It usually doesn't unless but sometimes the purchase price may be lower than the appraised value because demand is low or the seller is anxious to get rid of the house and willing to take a loss.


Is the adjusted sales price on a home appraisal the sale price?

no. the sale price is whatever the two parties agree on. The appraised value is just that, a value that someone appraised the value to be. (Although the lender does put more value on the appraised value than on any other.)


What is the definition of the word appraised?

The definition of the word appraised generally means to assess the value or quality of something. If something is set a price by an expert, this is also known as being appraised.


how can a underwriter object to an appraised price?

An uderwriter can object to an appraised price isf a considerable length of time has elasped since appraisal. The prices of a commodity may wary depending upon market demand and supply requirement.


Do you need a down payment if the value of the home is higher than the loan?

I am a Loan Originator for a Mortgage Company and to answer your question, you must go off the purchase price in a Sale no matter the appraised value, but there are so many different loans in my market you may not have to put a down payment at all. And the seller can pay all of your closing costs. It just depends on the situation. You could walk away with no money down. Actually a mortgage company will use the lesser of the purchase price or the appraised value. Some lenders can do "hard money" loans and will lend on the "future" value as opposed to the purchase price, but expect very high rates.


How do you price j and c Fischer baby grand pianos?

The recommendation is to have your piano appraised.


What gross purchase price mean?

gross purchase price


How much does it cost to buy movies at Redbox?

Redbox is a rental company. They charge one dollar per day. If you don't return it, they continue to charge one dollar each day until the purchase price of the film is met. That purchase price will vary.


What is the duration of The Purchase Price?

The duration of The Purchase Price is 1.13 hours.


Can you get a mortgage loan for a new home with money included for home improvements?

If the appraised value is higher than your purchase price and your down payment is substantial and or repairs are needed as suchthe owners have reduced the selling price to cover -then you may be able to come out of the closing with some cash money for repairs.


When was The Purchase Price created?

The Purchase Price was created on 1932-07-23.


How do you calculate to find LTV?

loan amount divided by sales price or appraised value or whichever is less


Why doesn't direct tv show versus anymore?

Because Versus is owned by Comcast and Directv is to cheap to pay the price comcast wants to lease the channel Versus.


What was the price per acre of the Gadsden Purchase?

As a price per acre, the Gadsden Purchase was 53 cents per acre. As an aside, this was was 18 times the price of the Louisiana Purchase.


What is purchase price reduction?

A sale price.


What is the accounting journal entry to record the purchase price of a business?

The accounting journal entry to record the purchase price of a business is debit. The debit will decrease the assets reflecting the purchase price.


What was the price of a loaf of bread in the US in 1958 versus 2008?

2d


Is sales tax on a car purchase price or car value?

Sales tax is on the purchase price not the value.


Where can someone purchase Price Pfister products?

Someone can purchase Price Pfister product can be purchased from Lowe's. Also someone can purchase Price Pfister products from Home Depot and the website overstock.


Where online can one purchase a Fisher Price train?

There are many places where one can purchase a Fisher Price train. A good place is the website "Amazon" or the website "eBay" to purchase a Fisher Price train.


Can you sell a house that is not in livable condition?

yes you can sell a home that is not in a livable condition. The buyer will have to obtain a construction load since banks will not give you a mortgage for a home until it can be appraised. They can not appraise a home if it is not livable. You will have to come up with a "purchase price". Most realtors can help you with that.


What is the price at which consumers will purchase the same quantity of a product that suppliers will produce?

The equilibrium price is the price at which consumers will purchase the same quantity of a product that suppliers will produce.


If a corporation sells certain capital equipment for more than their initial purchase price the difference between the sales price and the purchase price is called a?

A profit.


What price gold continue to increase?

3500$

People also asked

How much torque and horsepower does a 1976 350 have out of a Chevy Suburban?

View results

How many quarts of oil does a 2002 Mercedes C240 have?

View results

What does bbl mean?

View results

Home Lending?

View results

Are pharmacists among the highest paid professionals?

View results

How do you fix a relationship?

View results