Feds to raise ceiling for home-sale appraisals

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FEDERAL BANKING REGULATORS will raise the threshold for required appraisals on home sales to $400,000 from $250,000 starting in January. / BLOOMBERG NEWS FILE PHOTO/ANDREW HARRER
PROVIDENCE – For the first time in a quarter century, federal banking regulators are raising the minimal price for requiring appraisals on home sales. Beginning in January, the price threshold for appraisals on residential real estate transactions will be raised to $400,000 from $250,000, the Federal Reserve, the Federal Deposit Insurance Corp. and the Office…

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