Hawaii Appraisal Affidavit

Bahman Eslamboly

Form reviewed by Bahman Eslamboly, Attorney at FindLegalForms

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An appraisal affidavit provides the basic details of an appraisal that is signed and sworn to before a notary public. This type of document is often required by financing institutions at the closing of a real estate transaction. This document supplies essentially the same information as the basic Appraisal Report, but in a more formal affidavit.

This form for use in Hawaii.

Hawaii Appraisal Affidavit

Product Details

Product Hawaii Appraisal Affidavit
Country United States
Dimensions Designed for Letter Size (8.5" x 11")
Printer compatibility Designed to print on all ink-jet and laser printers
Editable Yes (.doc, .wpd and .rtf)
Format Microsoft Word
Adobe PDF
WordPerfect
Rich Text Format
Platform Windows Compatible
Mac Compatible
Linux Compatible
Availability In Stock. Instant Download
Usage Unlimited number of prints
Category Appraisal Affidavit
Product number #29027
Download time Less than 1 minute (approx.)
Document Access Via secret online address
Email with download links
Email with attachment upon request
Refund Policy 60 days, no-questions asked, 100% money back guarantee

Frequently Asked Questions

An appraisal affidavit is a formal document that provides the details of a property appraisal, which is sworn to and signed before a notary public. It serves as a legal verification of the property's value, often required by lenders during real estate transactions.

An appraisal affidavit is necessary to confirm the appraised value of a property, which is crucial for securing financing. Lenders require this document to ensure that the loan amount aligns with the property's assessed value.

A notary public is authorized to notarize an appraisal affidavit. This individual verifies the identity of the signer and witnesses the signing of the document, ensuring its legal validity.

Yes, an appraisal affidavit can be used for various types of properties, including residential, commercial, and industrial real estate. However, it must comply with local regulations and standards.

Failure to provide an appraisal affidavit may delay or jeopardize the closing of a real estate transaction. Lenders typically require this document to proceed with financing, and without it, you may face complications.

While there is no universally mandated format, an appraisal affidavit should include essential details such as the property description, appraised value, and signatures of the appraiser and notary. It's advisable to follow any specific guidelines provided by your lender.

The validity of an appraisal affidavit can vary depending on the lender's policies and local laws. Generally, it remains valid as long as the property's value has not significantly changed and is used within a reasonable time frame for the intended transaction.

Is This Form Right For You?

Use This Form If:

  • Individuals who are finalizing a real estate transaction may need to provide an appraisal affidavit to their lender. This document serves as a formal declaration of the property's value, ensuring that the financing institution has the necessary information to proceed with the loan.
  • Situations requiring a formal appraisal affidavit often arise when buyers are seeking to secure a mortgage. Lenders typically request this affidavit to verify the appraised value of the property, which is crucial for determining the loan amount and terms.
  • For those involved in real estate sales, an appraisal affidavit can be essential during the closing process. It provides a legally binding confirmation of the property's value, which can help prevent disputes between buyers and sellers regarding the agreed-upon price.
  • Real estate agents may advise their clients to obtain an appraisal affidavit when negotiating offers. This document can strengthen a buyer's position by demonstrating that the property's value has been professionally assessed and verified.
  • In cases where a property is being refinanced, an appraisal affidavit is often required by the lender. This ensures that the current value of the property is accurately documented, which is important for the refinancing process.

Do Not Use If:

  • – This form is not appropriate when the appraisal is being conducted for personal use rather than for a financing institution. In such cases, a simpler document may suffice without the need for notarization.
  • – If the property in question has undergone significant renovations or changes since the last appraisal, an affidavit may not accurately reflect its current value. A new appraisal report should be obtained instead.
  • – In situations where the appraisal is being contested or disputed, using an affidavit may not be suitable. Legal counsel should be sought to address the dispute through appropriate channels.
  • – When dealing with properties outside of Hawaii, this specific appraisal affidavit would not be applicable. Each state may have its own requirements and forms for appraisal affidavits.
  • – If the transaction does not involve financing, such as a cash sale, the affidavit may not be necessary. Buyers and sellers can rely on other forms of documentation to complete the transaction.

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