Pennsylvania 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 Pennsylvania.

Pennsylvania Appraisal Affidavit

Product Details

Product Pennsylvania 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 #29054
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 outlines the details of a property appraisal. It is signed and sworn to before a notary public, providing a legally binding statement of the property's value.

An appraisal affidavit is often required by lenders during the closing of a real estate transaction. It ensures that the appraisal has been conducted properly and that all parties are aware of the property's value.

To obtain an appraisal affidavit, you typically need to have a professional appraisal conducted on your property. Once the appraisal is completed, the appraiser can assist you in drafting the affidavit for notarization.

Yes, an appraisal affidavit can be used during the refinancing process. Lenders often require this document to verify the current market value of the property before approving refinancing options.

If the appraisal value is disputed, the appraisal affidavit may serve as a critical document in resolving the issue. It provides a sworn statement of the appraised value, which can be used in negotiations or legal proceedings.

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 appraisal details, ensuring that all parties involved have a clear understanding of the property's value.
  • Situations requiring the verification of property value often necessitate the use of an appraisal affidavit. For instance, when a buyer is seeking financing, the lender may request this document to confirm that the appraisal aligns with the loan amount being sought.
  • To comply with state regulations, sellers may be asked to submit an appraisal affidavit during the closing process. This requirement helps protect all parties by ensuring that the appraisal has been conducted professionally and is legally binding.
  • For those involved in refinancing a property, an appraisal affidavit can be crucial. Lenders typically require this document to assess the current market value of the property before approving any refinancing options.
  • Real estate agents may recommend the use of an appraisal affidavit to their clients to streamline the closing process. By providing this formal document, agents can help ensure that there are no delays related to appraisal disputes.

Do Not Use If:

  • – This form is not appropriate when the appraisal has not been conducted by a licensed appraiser. An appraisal affidavit must be based on a legitimate appraisal to be valid and enforceable.
  • – If the transaction does not involve a real estate sale or financing, the appraisal affidavit may not be necessary. For example, if the property is being gifted or transferred without a loan, this document may not be required.
  • – In cases where the appraisal value is significantly contested, parties may need to seek a different legal remedy rather than relying solely on an appraisal affidavit. Legal disputes may require more comprehensive documentation and evidence.
  • – When dealing with properties outside of Pennsylvania, this specific form may not be valid. Each state has its own requirements and forms for appraisal affidavits, so it's essential to use the correct documentation for the jurisdiction.
  • – If the appraisal is outdated or not reflective of the current market conditions, using an appraisal affidavit based on that appraisal could lead to complications. It's best to ensure that the appraisal is recent and relevant before proceeding.

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