- Feb 8, 2007
- Professional Status
- Certified Residential Appraiser
OK, I'm stumped. Appriasal for lending purposes, it is a sale. Subject is a FNMA owned foreclosure, contract addendum states subject can not be resold for more than 68K for a period of 3 months from date of close. Purchase price is $53K, MV coming in at $75K (after being checked by my CR supervisor). However, can it really be worth more than it could be sold for, even if the deed restriction starts once it is closed on? How have others dealt with this problem? Any repsponses ASAP would be great!