Offer Before Appraisals

A situation that may occur in a home sale program when the employee secures a buyer prior to initiation and/or completion of the appraisal process. The home is turned over to the purchaser at the price established in the marketplace. Some employers may treat this as a buyer’s value or amended value or an assigned sale transaction, while others may treat it as an appraised value transaction. The only difference is that there are no appraisals.