Wildfire Aftermath: LA Banks Skip Appraisals Until 2028
Published Date: 4/18/2025
Rule
Summary
If you’re dealing with real estate loans or sales in Los Angeles County after the recent wildfires and strong winds, good news! The usual strict property appraisal rules are temporarily relaxed to help speed things up. These special rules last until January 8, 2028, giving banks and buyers more flexibility during recovery.
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Temporary FIRREA appraisal exceptions in LA County
If you are involved in a real estate-related financial transaction in Los Angeles County after the President’s major disaster declaration for wildfires and straight-line winds, the agencies granted temporary exceptions to the usual FIRREA appraisal requirements. Those exceptions apply to transactions involving property in Los Angeles County and expire on January 8, 2028.
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