Iowa 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 Iowa.

Iowa Appraisal Affidavit

Product Details

Product Iowa 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 #29031
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 Iowa Appraisal Affidavit is a legal document that provides the details of a property appraisal, sworn before a notary public. It is often required by lenders during real estate transactions to confirm the property's value.

Typically, the affidavit must be signed by the appraiser who conducted the appraisal and may also require the signatures of the buyer and seller, depending on the transaction specifics.

While both documents provide information about the property's value, the appraisal affidavit is a sworn statement that carries legal weight, whereas the appraisal report is a more detailed analysis of the property's condition and market value.

An appraisal affidavit is generally required during the closing of a real estate transaction, particularly when financing is involved. Lenders often mandate this document to ensure the property's value aligns with the loan amount.

No, appraisal affidavits are typically state-specific due to varying legal requirements. It is essential to use the Iowa Appraisal Affidavit for transactions occurring in Iowa to comply with local laws.

Is This Form Right For You?

Use This Form If:

  • Individuals who are finalizing a real estate purchase may need to submit an appraisal affidavit to their lender as part of the closing process. This document serves to verify the property's value and assures the lender that the appraisal has been conducted properly.
  • Situations requiring a formal declaration of property value often necessitate the use of an appraisal affidavit. For instance, sellers may need this document to provide assurance to potential buyers and financial institutions regarding the legitimacy of the appraisal.
  • To comply with local regulations, real estate professionals may require an appraisal affidavit when facilitating transactions. This ensures that all parties involved have a clear and legally binding understanding of the property's assessed value.
  • For those involved in refinancing a mortgage, an appraisal affidavit can be essential. Lenders typically request this document to confirm the current market value of the property before approving the new loan terms.
  • In cases where a property is being sold as part of a divorce settlement, an appraisal affidavit may be necessary to establish the fair market value of the asset. This helps ensure an equitable distribution of property between the parties.

Do Not Use If:

  • – This form is not appropriate for informal property sales where no financing is involved. In such cases, a simple agreement between parties may suffice without the need for a formal affidavit.
  • – If the property has not been appraised or if the appraisal is outdated, using this affidavit would be misleading. An accurate and current appraisal is essential for the affidavit to hold legal validity.
  • – In situations where the transaction involves commercial real estate, different forms and requirements may apply. The Iowa Appraisal Affidavit is primarily designed for residential transactions.
  • – If the parties involved have agreed to a different method of establishing property value, such as a mutual agreement or alternative valuation method, this affidavit may not be necessary.
  • – In cases of disputes regarding property value that are being litigated, using an appraisal affidavit may not be advisable as the matter may require a more formal legal process.

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