When doing a loan for the purchase of a 1-4 family dwelling but taking an interest in the sellers interest in a land contract as collateral for a loan (and not the dwelling), is the disclosure of right to receive a copy of appraisal applicable?
No, the appraisal notice is required for transactions that are to be secured by a first lien on a dwelling. The notice requirement is not dependent on the type of property being purchased (if it's not also being taken as collateral).
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