Massachusetts 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 Massachusetts.

Massachusetts Appraisal Affidavit

Product Details

Product Massachusetts 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 #29037
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

A Massachusetts Appraisal Affidavit is a legal document that provides a sworn statement regarding the value of a property, typically required during real estate transactions, especially when financing is involved.

The appraisal affidavit must be signed by the appraiser who conducted the property valuation and is often required to be notarized to ensure its authenticity.

While both documents provide information about a property's value, the appraisal affidavit is a formal sworn statement, whereas the appraisal report is a detailed analysis of the property.

An appraisal affidavit is commonly required during the closing process of a real estate transaction, particularly when a mortgage is involved, to confirm the property's appraised value.

Yes, an appraisal affidavit can be used for both residential and commercial properties, as long as it complies with the relevant state laws and regulations.

Failing to provide an appraisal affidavit when required can delay or jeopardize the closing of a real estate transaction, as lenders typically need this document to proceed with financing.

To get an appraisal affidavit notarized, you must sign the document in the presence of a notary public, who will then verify your identity and witness the signing.

Yes, there may be fees associated with hiring a licensed appraiser to conduct the appraisal and prepare the affidavit, as well as potential notary fees.

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 assures the lender that the property has been appraised and provides a formal declaration of its value, which is crucial for securing financing.
  • Situations requiring compliance with state regulations often necessitate the use of an appraisal affidavit. For example, when a buyer is obtaining a mortgage, the lender may require this affidavit to confirm the property's value and ensure that it meets the necessary legal standards.
  • For those involved in estate planning or property transfers, an appraisal affidavit can serve as a vital document. It provides a formal record of the property's value, which can be important for tax assessments and equitable distribution among heirs.
  • Real estate agents may recommend the use of an appraisal affidavit during negotiations. This document can help establish a property's worth and provide reassurance to potential buyers or investors regarding the legitimacy of the appraisal.
  • In cases of refinancing, homeowners may be asked to submit an appraisal affidavit to their financial institution. This affidavit confirms the current value of the property, which is essential for determining the terms of the new loan.

Do Not Use If:

  • – This form is not appropriate when the appraisal is not required by the lender or financing institution. If the transaction does not involve a mortgage or financing, an appraisal affidavit may not be necessary.
  • – In situations where the property value is being contested, an appraisal affidavit might not suffice. Legal disputes regarding property value typically require more comprehensive documentation and expert testimony.
  • – If the appraisal was conducted by an unlicensed or unqualified individual, using an appraisal affidavit based on that appraisal could lead to legal issues. It is essential that the appraisal is performed by a certified professional.
  • – For properties that are not being sold or financed, such as those held in trust or for estate planning purposes, an appraisal affidavit may not be needed. Different legal documents may be more appropriate in these cases.
  • – In cases where the appraisal is outdated or no longer reflects the current market conditions, relying on an appraisal affidavit could misrepresent the property's value. A new appraisal should be conducted to ensure accuracy.

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