Question

Is an appraisal a determination or an opinion of value? Why? When would a Purchase Money...

  • Is an appraisal a determination or an opinion of value? Why?
  • When would a Purchase Money Mortgage be appropriate?
Business   Finance   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

An appraisal is an opinion of market value. The appraiser analyses the market thoroughly and presents his/ her opinion to answer a client's query regarding the real property value. Opinion of market value is one of the most common type of appraisal assignment since it gives the prediction based on analysis of present market conditions and trends.

A purchase money mortgage happens during a purchase transaction between a seller and a buyer. The seller issues this mortgage to the buyer as a part of purchase transaction and this happens when a buyer fails to qualify for a mortgage through traditional lending channels.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Why would an investor purchase a bond trading at a premium if they expected the value...
Why would an investor purchase a bond trading at a premium if they expected the value of the bond to drop over time?
1.A building with an appraisal value of $135,912 is made available at an offer price of...
1.A building with an appraisal value of $135,912 is made available at an offer price of $153,876. The purchaser acquires the property for $37,176 in cash, a 90-day note payable for $24,514, and a mortgage amounting to $58,919. The cost basis recorded in the buyer's accounting records to recognize this purchase is a. $120,609 b. $116,700 c. $135,912 d. $153,876 2.A machine with a cost of $136,000 has an estimated residual value of $17,000 and an estimated life of 5...
a) Opinion leaders are widely used in marketing to influence consumers. Explain why opinion leaders are...
a) Opinion leaders are widely used in marketing to influence consumers. Explain why opinion leaders are hard to identify. b) For each of the following products, nominate a celebrity whom you feel would make an appropriate opinion leader. List the characteristics of the celebrity that would make him or her suitable in terms of the type of reference group influence likely to be exerted (informational, normative or identification). • Toothpaste • microwave ovens • jeans.
Which analytical procedure, in your opinion, is the most important when testing for realizable value of...
Which analytical procedure, in your opinion, is the most important when testing for realizable value of accounts receivable? Why do you think so?
Share your opinion about DNR. Would you grant it to yourself? Why? Why not?
Share your opinion about DNR. Would you grant it to yourself? Why? Why not?
Why would a counterparty purchase a credit default swap (CDS) or mortgage backed security (MBS) offered...
Why would a counterparty purchase a credit default swap (CDS) or mortgage backed security (MBS) offered by a bank?
When doing a Spectrophotometric Determination of Cooper in Brass Lab explain why it is necessary to...
When doing a Spectrophotometric Determination of Cooper in Brass Lab explain why it is necessary to dissolve the metal samples in a fume hood or near a vent station.
Please describe why determination of eigenvalues is particularly important when using the method of separation of...
Please describe why determination of eigenvalues is particularly important when using the method of separation of variables method for heat transfer problems
Adams acquired Blackacre for $50,000 cash plus a purchase money mortgage of $200,000. Over the next...
Adams acquired Blackacre for $50,000 cash plus a purchase money mortgage of $200,000. Over the next couple of years Adams claimed $100,000 of depreciation (cost recovery deduction) on Blackacre. In addition over the same period of time he paid off $80,000 of the purchase money mortgage. At a time when Blackacre had a FMV of $400,000, Adams sold Blackacre to Sally, who assumed the existing debt, gave Adams her personal note in the amount of $100,000 and a check for...
The reaction Fe2++ 2H2O –Fe(OH)2+ H+occurs readily. Why would this be a problem in the determination...
The reaction Fe2++ 2H2O –Fe(OH)2+ H+occurs readily. Why would this be a problem in the determination of the amount of iron and what procedure was used in this experiment to prevent this reaction from interfering with the determination of the percent iron in the unknown sample?
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT