- Aug 24, 2003
- Professional Status
- Certified Residential Appraiser
- New Jersey
COS has addendum that shows buyer had made a private mortgage of 50,000.00, to current owner 1 day before contract was signed for enough money to completely renovate property, amount of COS price was 500,000.00, there is no mention of how or why is it considered arms length, the 50,000.00 is expressed as an attachment. I've asked for clarification client is not able, or does not care to elaborate, and asked if I was the appraisal police for wanting an addendum to the COS. Your thoughts?