Seller's Information for Appraiser provided to Buyer - Iowa 2025

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A lender uses an appraisal not only to assess the value of the property, but also to determine such things as your interest rate, required down payment, and whether you will be approved for the loan.
Use this statement to disclose information as required by Iowa Code chapter 558A. This law requires certain sellers of residential property that includes at least one and no more than four dwelling units to disclose information about the property to be sold.
In most states, by law, you have to disclose any issues with the property. By not disclosing, you open yourself up to lawsuit.
Sellers are required to disclose property information to the realtor and potential buyers based on state and local laws. A disclosure document details a propertys condition and what might negatively affect its value. Sellers who willfully conceal information can be sued and potentially convicted of a crime.
Exempt Properties: Properties exempted from the Seller Property Disclosure requirement include (IA Code 558A): Bare ground; property containing 5 or more dwelling units; court ordered transfers; transfers by a power of attorney; foreclosures; lenders selling foreclosed properties; fiduciaries in the course of an

People also ask

The seller often does not generally get a copy of the appraisal, but they can request one. The CRES Risk Management legal advice team noted that an appraisal is material to a transaction and like a property inspection report for a purchase, it needs to be provided to the seller, whether or not the sale closes.
To that end, many appraisers believe that any communication with individuals involved in the transaction including real estate agents is unlawful. However, the Bureau Chief of Californias Bureau of Real Estate Appraisers (BREA) debunked this view in a recent BREA newsletter.

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