Property Valuation
In Michigan, an appraisal must be performed by a licensed or certified appraiser for federally related transactions when the loan amount exceeds:
A$100,000
B$250,000✓ Correct
C$400,000
D$500,000
Explanation
Federal regulations generally require a state-licensed or certified appraiser for federally related transactions with a loan amount over $250,000. Some transactions below this threshold may use an appraisal waiver or evaluation.
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