HOW TO INCREASE THE LIKELIHOOD OF A HIGH VALUATION

I believe it is very important for my customers to understand the valuation process to minimise your risk of a low appraisal and increasing the likelihood of a high one.

The valuer searches for completed sales of comparable properties within the past 6 months at most. The valuer will consider things like location, size of land, size and condition of property, any special features and so forth.

There are three main types of valuations:

Full: Involves the valuer conducting an internal inspection, taking measurements of the land and internal living area, and taking photos inside.

Kerbside: Involves the valuer driving past the property

Desktop: Involves the valuer collecting comparable sales data based on a description of the subject property.

Generally, a lender will request a full valuation when there is mortgage insurance involved. Any finance request by you that avoids mortgage insurance, a kerbside valuation may be all that is required. A desktop valuation will be ordered by a lender (to save on costs) when there is sufficient equity in the property and plenty of comparabe sales available.

A low valuation might occur because there are very few comparable sales to assist the valuer in their estimate. Unless the valuer has the sales to back themselves up, they'll be conservative. This is because they don't want to get sued by the lender.

There are a few things you can do in increasing the likelihood of a high valuation:
Most importantly, do some research into comparable sales? Start by talking with some of your local real estate agents. You should then drive by some of the comparable properties to ensure they're actually comparable.

You could order your own valuation; however, expect to pay up to $500.
When estimating the value of your properties on a lender application form, you may want to provide a high estimate.

Some properties will benefit from a full valuation, particularly if the inside is in excellent condition or recently renovated. In this case, in your original request for finance apply to borrow more than 80% of the proeprty's value. Once the valuation is completed, you can adjust the loan amount down to < 80%.

If you consider the valuation to be low, you can challenge it. You will need to provide the lender with new evidence to support your estimate of value.

You can ask the lender to order another valuation, however, more than likely at your cost.

The last option is to consider using a different lender. It's possible a different lender might use a different valuer or be less conservative with their valuations.

Now that you understand the valuation process, all in all, market research is the key.

This is what we do!

In our company we help our customers to achieve their financial goals!

BEAT THE BANKS!: FREE CREDIT CARD PAY OFF CALCULATOR! GET IT NOW.... FREE!


Unlike bank lenders, I show my client's how to pay off their mortgage quickly, minimizing the amount of interest they pay.


The banks NEVER advise their clients on how to pay off their home loan quickly!

GOOD NEWS!......... I DO!

The banks never show their customers how to pay off their home loan quickly. They are in "THE LENDING BUSINESS". They want you to have your loan as "interest only repayments", or taken over a period of up to 40 years nowadays. Every year before Christmas, the banks MARKET TO CLIENTS, inviting them to:
INCREASE YOUR CREDIT CARD LIMIT
APPLY FOR A PERSONAL LOAN!

This only benefits the banks, not you!
I have a number of strategies and tools to help my clients regain control of their finances IN ORDER TO ACHIEVE THEIR FINANCIAL GOALS.

I work with my clients to show them how to pay off their home loan quickly, or to quickly build up equity in their residential property in order to re-structure their finance to purchase an investment property.
Here is a nice little "FREE TOOL" for you, if you want to see how long it will take you to pay out your credit cards at the ridiculously high interest rates the banks charge. Click on the link below to get the calculator and check out how long it will take you to pay them all out!

http://www.vertex42.com/Files/credit-card-payoff-calculator.xls

I have heaps of "FREE TOOLS" like this calculator. Just email me with what you need or call me to let me. know.

alvin@amlc.com.au or 1300 559 818 Alvin

Introduction of myself

After graduating from university, I went straight to mortgage broking business. Because I thought mortgage is the biggest liability of a person and I want to help people get rid of their debt with my finance knowledge.

Until one case, I totally change my mind. There were a couple came in and asked for a home loan. Although they worked very hard, they would get 12 dollars in their bank account if they took the loan after my serviceability test. You know during that time the interest rate rise 12 consecutive times and petrol price jump to the roof. With 12 dollars in their account, I really worry about their life styles and their future. My supervisor asked to do the loan and get the commission. But I was devastated and started doubting my choice of career. Yes, we need money, but that does not mean we need put people in debt to get the dollars. I could not sleep that night and confessed to the god. I called the couple, told them the situation and resigned from the company.

Luckily, I met Mr. Satendra Kumar and got him as my mentor to teach me on what the mortgage broker is and how to become a proud mortgage broker. I learned lending by referral and really appreciate it, because I saw my mentor guide with his client from nothing to the first house, second house, and the third house. After 5 years, they are still close friends and sitting in front a coffee table enjoying their lives together. That is the life I am aiming for and that is the reason I smile all the day.

Now, I can sleep very well every night, because I have learned three questions from my mentor:

From my client’s prospective, did I treat them with utmost respect?
From my client’s prospective, did I meet their expectation?
From my client’s prospective, did I act on behalf of his best interest?

After ‘yes’ for all of the above questions, I know I will have a wonderful dream and live a life that is meaningful.

So, if you like the way I do my business, please do not keep it as secrete and share my service with your friends. I am looking forward to go with you hand in hand on your dream home!