Finance, Mortgage
Estimation of an apartment for a mortgage: realities of modern crediting
For those who have not encountered loans, an appraisal of an apartment for a mortgage seems to be some completely insignificant part of the contract. However, this is not at all the case. According to experts, valuation work with real estate is one of the most important processes in the design of mortgages, because it depends on them the size of the loan and the maximum period for which it can be issued.
Estimation of an apartment for a mortgage: importance
Also, the appraisal of an apartment for a mortgage determines the most probable value for sale on the secondary real estate market, as well as the discount on the urgency of the sale. Such actions are allowed to avoid a reduction in the amount of the loan, which is often resorted to by banking organizations. That is why any borrower is required to responsibly approach the selection of a specialist appraiser. He must have the necessary knowledge and strive to maximally protect the interests of his client in dealing with the bank.
Evaluation stages
- First, the location of the object is estimated. The area where it is located, its remoteness from the center. Availability and availability of public transport, ecological conditions. The condition of the territory in the immediate vicinity of the property, the state of the infrastructure of the whole area.
- The second stage is the evaluation of the real estate itself. Here, the following information is important: the type of building, the year of its construction, the material of the ceilings and walls, the height of the building and the state of its communications, the presence of an underground garage or parking for cars.
- The third stage is the evaluation of the characteristics of the apartment. At the same time, it considers both its total area and the area of the residential area. Number of rooms, height of ceilings, floor of location, condition, availability of a loggia or balcony.
Documentary base for real estate valuation
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