---
kind: "section"
citation: "12 U.S.C. § 1715q"
title: "12"
title_heading: "Banks and Banking"
number: "1715q"
heading: "Delivery of statement of appraisal or estimates to home buyers"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/1715q"
units:
  - "Chapter 13 — National Housing"
  - "Subchapter II — Mortgage Insurance"
---

# §1715q. Delivery of statement of appraisal or estimates to home buyers


The [Secretary](/usc/12/1715z–22a.md?p=4) is authorized and directed to require that in connection with any property upon which there is located a dwelling designed principally for a single-family residence or a two-family residence and which is approved for [mortgage](/usc/12/1707.md?p=a) insurance under section [1709](/usc/12/1709.md) or [1715e](/usc/12/1715e.md) of this title with respect to any property or project of a corporation or trust of the character described in paragraph (2) of subsection (a) of [section 1715e of this title](/usc/12/1715e.md), or sections 1715k, 1715l, 1715m,[^1] 1715x, 1715y, 1715z(i), 1715z–2,[^1] or [1750b](/usc/12/1750b.md) of this title, the seller or builder or such other [person](/usc/12/5481.md?p=19) as may be designated by the [Secretary](/usc/12/1715z–22a.md?p=4) shall agree to deliver, prior to the sale of the property, to the [person](/usc/12/5481.md?p=19) purchasing such dwelling for his own occupancy, a written statement setting forth the amount of the appraised value of the property as determined by the [Secretary](/usc/12/1715z–22a.md?p=4). This section shall not apply in any case where the [mortgage](/usc/12/1707.md?p=a) involved was insured or the commitment for such insurance was issued prior to August 2, 1954. Notwithstanding the first sentence of this section, the [Secretary](/usc/12/1715z–22a.md?p=4) is authorized to require, in connection with any [mortgage](/usc/12/1707.md?p=a) where the [mortgage](/usc/12/1707.md?p=a) amount is computed on the basis of the [Secretary](/usc/12/1715z–22a.md?p=4)’s estimate of the replacement cost of the property, or on the basis of any other estimates of the [Secretary](/usc/12/1715z–22a.md?p=4), that a written statement setting forth such estimate or estimates, as the case may be, be furnished under this section in lieu of a written statement setting forth the amount of the appraised value of the property.


## Footnotes

[^1]: See References in Text note below.

## Source credit

(June 27, 1934, ch. 847, title II, § 226, as added Aug. 2, 1954, ch. 649, title I, § 126, 68 Stat. 607; amended Pub. L. 85–104, title I, § 115, July 12, 1957, 71 Stat. 298; Pub. L. 87–70, title VI, § 612(j), June 30, 1961, 75 Stat. 182; Pub. L. 90–19, § 1(a)(3), (4), May 25, 1967, 81 Stat. 17; Pub. L. 90–448, title I, § 102(b), Aug. 1, 1968, 82 Stat. 486.)

## Notes

### Editorial Notes

### References in Text

Section 1715m of this title, referred to in text, was repealed by Pub. L. 110–289, div. B, title I, § 2120(a)(5), July 30, 2008, 122 Stat. 2835.

Section 1715z–2 of this title, referred to in text, was repealed by Pub. L. 110–289, div. B, title I, § 2120(a)(6), July 30, 2008, 122 Stat. 2835.

### Amendments

1968—Pub. L. 90–448 inserted references to sections 1715z(i) and 1715z–2 of this title.

1967—Pub. L. 90–19 substituted “Secretary” for “Commissioner” wherever appearing, and “Secretary’s” for “Commissioner’s”.

1961—Pub. L. 87–70 inserted references to sections 1715x and 1715y of this title, and substituted “or on the basis of any other estimates of the Commissioner, that a written statement setting forth such estimate or estimates, as the case may be,” for “that a written statement setting forth such estimate”.

1957—Pub. L. 85–104 inserted sentence authorizing estimate of replacement cost in lieu of an estimate of value where mortgage amount is based upon replacement cost.