Definitions.

CFR · 2024-01-01 · US · Title 12

(a) (b) (c) (d) (e) (f) Complex appraisal for a residential real estate transaction means one in which the property to be appraised, the form of ownership, or market conditions are atypical. (g) (1) The FDIC or any regulated institution engages in or contracts for; and (2) Requires the services of an appraiser. (h) (1) Buyer and seller are typically motivated; (2) Both parties are well informed or well advised, and acting in what they consider their own best interests; (3) A reasonable time is allowed for exposure in the open market; (4) Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and (5) The price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale. (i) (j) (1) The sale, lease, purchase, investment in or exchange of real property, including interests in property, or the financing thereof; or (2) The refinancing of real property or interests in real property; or (3) The use of real property or interests in property as security for a loan or investment, including mortgage-backed securities. (k) Residential real estate transaction means a real estate-related financial transaction that is secured by a single 1-to-4 family residential property. (l) (m) (n) (o) (1) For loans or other extensions of credit, the amount of the loan or extension of credit; (2) For sales, leases, purchases, and investments in or

official document · source cfr-2024 · id 12:§ 323.2