2010.10.24 01:53:44

nazmel

For over seven years, our agency has enjoyed an excellent working relationship with key personnel in various sectors relating to Real Estate - Banking, Valuation, Building Contractors and legal. We in turn use these resources to assist and guide our clients with their real estate decisions.

A seller can make the mistake of pricing his property based on the price of a similar property in the area, so his thought is: "if that old house on the corner is going for 3M, then I can easily get 3.5M for my house." He then prices his property out of the market, it remains unsold and he is totally unaware that the 'house on the corner' is really worth 1.5M. In order to save our clients time and money, we seek the opinions of our reliable and long-standing network partners to assist with mortgage qualification, appraisals etc. prior to listing a property.

By doing so, this gives the seller some intelligent ball-park figures to work with. This service is free of charge until a formal Agreement is established. We feel that it is very important for clients to be informed of ballpark figures based on location, fair comparatives and the condition of their properties. For properties known as 'fixer uppers' an estimated cost of repairing the property is also factored into the valuation.

Should an appraisal come in lower than the offer price, the purchaser is protected by a refund clause in the Cornerstone Purchase Agreement but there are options and it is not necessary to cancel the sale agreement b y reason of a low valuation. Options include - (1) to make up the difference in cash if possible. (2) Make a lower offer (3) Use other equity as collateral against the mortgage to make up the deficit. The valuators we work with are all on the approved panel by the commercial banks and Mortgage companies. Clients can choose from the panel and base their choice on experience and accreditations.

offer price | appraisal | valuation | qualification | purchaser | unsold | mortgage