Landed calculates the beginning property value (what we base future appreciation/depreciation sharing on) as the lesser of the sales price less seller credits or the appraised value.
The beginning property value does not include sales commissions, closing costs, loan fees, prepaid taxes, or any other expenses. If you are considering purchasing a new construction and adding upgrades, please let the Landed team know so we can provide additional details. When an offer price exceeds the maximum estimated property value from our internal valuation system, Landed will require a second appraisal (i.e., one in addition to the appraisal ordered by the mortgage lender). The second appraisal will be added as a required action item for property approval. The appraisal report will be prepared at the Homebuyer's expense.