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» As is Appraisals

Posted on 11/12/2004
Hard money loans are made based on the current value of real estate property. If you are buying -property, the current value is the price you will pay for the real estate.

If you are refinancing property, the current value must be established by a written appraisal from a licensed real estate (not business) appraiser.

Only if you are seeking a loan from a rehab lender or construction lender, will the value of the property be determined by an "after fix up" or "when construction is complete" price.
Posted in Miscellaneous