In particular we focus on getting the loan structure right the first time, choosing which lenders to use in the right order (yes this is important) and finally getting our clients the best deal possible.
Valuation
It is a comprehensive inspection of your property that can be used to value the security for your mortgage. It's basically alleviates the risk lenders take, so that should there be a forced sale of your property, your house's market value could cover the outstanding home loan.
They are typically conducted by a professional appraiser or a real estate agent. They take into consideration the property location, size, condition, features, recent sales of comparative property in the area and current market trends.
A valuation may be necessary in situations requiring a definitive value, such as property settlement, obtaining financing from a lender, or establishing a deceased state. It could also be ordered by the court as part of a dispute resolution.
How much you may need to pay for a house valuation varies, but in general, it could set you back anywhere between $200 - $600. In a lot of cases, the bank or lender will cover the cost of the valuation on your behalf.
Most residential property values are based on a direct comparison with recent comparable sales, though valuers may also consider the size and types of rooms, fixtures and fittings, building condition, location, block layout, and a variety of other aspects.
Learn MoreThe comparison method is the most popular and prefered method since they are directly related to actual market transactions. Houses, stores, offices, and ordinary warehouses are all valued using the Comparison technique.
Learn MoreGetting a comparable market analysis from an active local real estate agent who will compare your home to all the properties in the same neighbourhood that sold in the previous six months and were roughly the same age, size, and condition as yours is a great way to determine the fair market value of your home.
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