A Spotlight about Valuations VIC – Property Valuation
In any event, the double-digit rise of past years is no longer the norm. As a skilled mortgage broker, it’s challenging to walk the narrow line between realistic property valuations and disappointment. On the other side, the real estate market is exhibiting signs of improvement. The number of first-time purchasers has increased, indicating renewed interest in the home market. Estate brokers have reported the first drop in available housing supply in nearly six months, another sign that activity is beginning to pick up. Look at more info Valuations VIC – Property Valuation
Interest rates have remained unchanged, and the much-anticipated interest rate cut to bolster a weak economy has yet to arrive. In order for a rate reduction to be possible, inflation and unemployment must be kept under control. All of these things could happen or continue to happen; they could also happen or not happen.
This estimate will be based on a variety of criteria, including his knowledge of other properties that have recently sold in his street or neighbourhood, current events, and a good dose of intuition. Clearly, many clients may have an overblown perception of their property’s genuine value; this is an emotional issue that the consultant may have to deal with. Consider the following scenario: you’ve finished your fact-gathering, you’ve identified a deal, it’s cash-strapped, but the deal fits based on what you know and what you’ve been told.
Keep one thing in mind, though, from the perspective of a mortgage broker. You dispatched that valuer to evaluate their property, you are the centre of their mortgage transaction, and you are the expert, in the eyes of a consumer. So, if the valuation is significantly lower than expected, it will be up to you, the broker, to handle the problem. This can cause a host of problems. First, the offer you meticulously picked among possibilities may no longer fulfil the lender’s requirements. Second, you must tell the client that his net asset position is not as strong as he thought. Third, you’ll have little credibility left to resurrect a fresh deal.