Sales Price v. Estimated Property Value v. Appraised Property Value
Page one of the TRID Closing Disclosure provides a lot of different information about a loan transaction. When it comes to the Closing Information section (top, left-hand side) there is a field where you are required to enter either the “Sales Price”, the “Estimated Property Value” OR the “Appraised Property Value”. So, which one do you disclose?
When it comes to TRID closing disclosure, the answer is, it depends on a variety of factors.
Find all your TRID Resources HERE!
Jerod explains more about TRID in the video below!
Jerod is the leader of Banker’s Compliance Consulting’s training productions. He is a nationally recognized speaker. Whether it’s a conference, seminar, school, webinar, or luncheon, it’s easy to stay engaged when he presents due to the amount of passion and energy he brings to each and every compliance topic. Jerod has spoken on behalf of the American Bankers’ Association, BankersOnline, many state banking associations, private compliance groups, and financial institutions. He is a Certified Regulatory Compliance Manager (CRCM) and BankersOnline Guru.
Jerod likes to spend his time (between reading regulations and producing compliance training!) relaxing at the lake with his wife and three children, following their activities or engaged in something sports related!