Nicole is obtaining a higher-priced mortgage loan to buy a home from a Marine in South Carolina who has been reassigned to a base on the West Coast. The Marine purchased and moved into his home three months earlier. In this transaction, a second appraisal will:
a. Be required because the seller acquired the home 90 days prior to the date that Nicole agreed to purchase the home
b. Be required if there is any evidence that the sale constitutes property flipping
c. Not be required unless Nicole has agreed to purchase it for 20% more than the Marine paid
d. Not be required since purchases from servicemembers are not subject to the requirement for two appraisals
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Nicole is obtaining a higher-priced mortgage loan to buy a home from a Marine in South Carolina who...
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