the monetary amount an appraiser says the real property is worth is the fee simple interest.
the monetary amount an appraiser says the real property is worth is the fee simple interest.
the monetary amount an appraiser says the real property is worth is the?
fee simple interest
when obtaining a mortgage, the funding lender relies on the standardized valuation methods of an appraiser to assess a monetary value for the specific piece of real property on which a loan will be secured (e.g. a residence). the lender will then justify the loan amount (and other risk-based pricing) factors as a percentage of the appraised value of the property.
appraised value
according to assistant u.s. attorney barbara e. nelan, the fraud ring's property schemes were based on the unlawful "flipping" of residential real estate. illegal real property flipping is a fraud for profit scheme whereby recently acquired real property is resold for a considerable profit with an artificially inflated value. the real property is resold within a short time frame, often after making only cosmetic improvements to the real property. illegal property flipping usually often involves collusion between a real estate appraiser, a mortgage originator and a closing agent. the cooperation of a real estate appraiser is necessary since a false and artificially inflated appraisal report is required. the buyer (ultimate borrower) may or may not be aware of the situation. this type of fraud is one of the most costly for lenders because the loss is always large.
phillip e. hill sr.