Definitions.

CFR · 2024-01-01 · US · Title 12

(1) The National Credit Union Administration, or any federally insured credit union, engages in or contracts for; and (2) Requires the services of an appraiser. (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. (1) The sale, lease, purchase, investment in or exchange of real estate, including interests in property, or the financing thereof; or (2) The refinancing of real estate or interests in real estate; or (3) The use of real estate or interests in property as security for a loan or investment, including mortgage-backed securities. (1) For loans or other extensions of credit, the amount of the loan or extension of credit; and (2) For sales, leases, purchases, and investments in or exchanges of real estate, the market value of the real estate interest involved; and (3) For the pooling of loans or interests in real estate for resale or purchase, the amount of the loan or market value of the real estate calculated with respect to each such loan or interest in real estate.

official document · source cfr-2024 · id 12:§ 722.2