Andrey and Maria have long been looking for secondary housing to buy. They are constantly unlucky – sometimes the condition of the apartment leaves much to be desired, sometimes the area is inconvenient, sometimes the price is too high.
The realtor offered them an apartment that seemed just perfect: good location, cozy courtyard, well-developed infrastructure, fresh renovation. But the seller set the price above the average for the area. Maria heard from friends that real estate valuation helps to reduce the price. Is it true? And how is housing valued?
The basic principle of mortgage lending is that you receive money for the purchase against the security of the acquired Property Valuation Adelaide. That is, the property belongs to the creditors until you pay off the mortgage.
A home appraisal is needed by the bank to determine the amount and percentage of the loan. As a rule, the cost of the apartment should be enough to close the client’s debt if he has become a defaulter.
Sometimes they even pay attention to the material from which the house is made, defects and the view from the window. Even such details play a big role in the final decision.
The liquidation price depends on the timeframe in which the property needs to be sold and on the general situation on the market. Usually it is below market value.