Real Property - Residential Sales - Communications During Appraisal Process

Summary

The bill forces appraisers to alert buyers, sellers, agents, and lenders when a preliminary valuation falls below the contract price or refinance estimate. It also lets those parties submit verified market data within two days, which the appraiser must consider and document in an addendum. The goal is to increase transparency and prevent undue influence on appraisal outcomes.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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