Real Estate Professionals

Real Estate Appraisal

Posted by on Jul 19, 2019

Real estate appraisals can often be misunderstood. That is why it is a good idea to define what an appraisal is and learn more about the process involved. By definition, a real estate appraisal calculates a property’s value for the benefit of a lender. Therefore, an appraisal is not made for the purchaser’s benefit. It is requested for the sole benefit of the lender. The value of the building which the appraisal will ultimately determine, is based on numerous points ranging from square footage to its location.

Securing a Bank’s Investment

The purpose of a real estate appraisal in Vancouver is to safeguard the lending institution. By using this protocol, the bank is ensuring that it will not lend money on real estate that is worth less than its appraised value. The bank takes this measure so it can sell the property in case of default so by having an appraisal performed; a financial institution ensures that it can recover its money on a foreclosed property.

House appraisals in Vancouver are made so a lender can ensure that the loan he or she is granting is an effective investment – one where he or she can get their money back if necessary. If a property does not appraise at the value accepted by a buyer then, he or she cannot secure a mortgage.

Are Your Refinancing Your Home?

Now that you know why appraisals are performed, you have some insight as to when they are typically requested. Aside from the purchase of a home, a residential appraisal in Vancouver may also be performed to refinance a home. So, if you wish to tap into your home’s equity to consolidate debts or pay for your child’s tuition, you will also need to request an appraisal.

Other Reasons for Appraisals

Sometimes an appraisal is needed in the case of an estate liquidation. If you already have your own home but you inherit an estate, you may want to liquidate the inherited property. If so, you will need to request an appraisal. Therefore, an appraisal assists you in determining the fair market value of a property you may want to liquidate. By contacting an appraiser, you can ensure that any liquidation goes smoothly and that the transaction leaves no room for dispute.

An appraisal may need to be performed, as well, if you plan to relocate. By obtaining a professional appraisal, you can find out how much you can receive for a quick sale of your property. Divorce settlements also lead to property appraisals so if the property is shared, it is important to know its value so that you can proceed more amicably with a divorce settlement.

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Successful Real Estate Professional

Posted by on Jul 19, 2019

Good real estate agents don’t simply help their clients buy and sell homes. They are also amicable, knowledgeable, and flexible, using their vast network of connections to find you the best deals. Are you searching for a licensed realtor? Below are some characteristics to look for in a successful real estate professional:

Works with other reputable realtors – Good agents make it their goal to become a part of a real estate company that is known for its professional realtor team. They enjoy the support of other agents who help each other buy and sell homes in the area, as well as the backing of a company with a large pool of full-service administrative and resources. This ultimately allows them to work more efficiently so they can make the process of buying or selling a home smoother for you. Look for someone who works in a real estate company that has been bestowed with multiple industry awards and is known for stellar customer service.

– Never stops learning – Continued education (beyond licensing) is essential to becoming a successful realtor because it provides access to tools and systems that can empower the agent and his or her clients throughout the buying or selling process. This is why the best real estate professionals are active in joining education programs, such as realtor courses that focus on productivity enhancement and core skills.

– Builds and maintains connections – The best agents stay connected with their referral sources and previous clients. They provide market updates and just-sold or just-listed cards, send holiday or birthday cards to people they have worked with, and making it a point to go to industry events. Working with someone who has built a great network is absolutely essential if you want access to the best and latest properties, as well as very specific types of real estate that can be difficult to find.

– Great online presence – Establishing an online presence is essential to becoming a successful Realtor. This is why the best agents are easy to find online through their websites and social media pages. Try contacting them. A good agent will respond promptly-that’s how you know they have great communication skills and are generally dependable.

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