Appraisals May Soon Not Be Required on Certain Home Sales of $400,000 and Under
HousingWire, Aug. 23, 2019–Ben Lane
In November, the Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency, and the Board of Governors of the Federal Reserve released a proposal that would increase the appraisal requirement from $250,000 to $400,000, meaning that certain home sales of $400,000 and below would no longer require an appraisal. Now, the proposal is just one step away from being finalized and adopted as proposed.
