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value of the property based on its actual use

“It breaks up a dull routine for the day, and everything,” Ratchford said of the weekly ritual. “It’s really a congenial club.” A line of storms that pulverized communities from Louisiana to Pennsylvania on Sunday gave Greater Cincinnati little more than a soft blow to the cheek. At least 33 people were killed and more than 100 injured in Tennessee, Alabama, Ohio, Pennsylvania and Mississippi by the band of storms, which included several tornadoes. But injuries were minor in Greater Cincinnati despite some heavy damage in the Etheridge community in Gallatin County.


Seven houses and trailers were torn from  their foundations, flipped over and roofs blown off as heavy winds and storms blew through the area along Walnut Valley Road about 3½ miles south of U.S. 42. Several trees and barns also were toppled by the storm as it made its way through the western part of the county about 6:30 p.m., said Chris Curtis, the 911 supervisor for Gallatin County. About 10 people were taken to local hospitals for minor bruises, cuts and scrapes, Curtis said.

He said the National Weather Service reported Sunday that its radar indicated no tornado had touched down on the area. Don Hughes, a meteorologist with the National Weather Service in Wilmington, Ohio, said the weather service planned to do a storm survey of the Gallatin County area today. Elsewhere the storms caused scattered wind damage, flooded streets and basements, knocked down trees and power lines, leaving hundreds without electrical power.

At one time or another, the National Weather Service had placed 11 Ohio counties and 14 Kentucky counties under a tornado watch and severe thunderstorm warning. The service also placed four counties — Boone, Kenton and Campbell in Kentucky, and Hamilton County in Ohio — under flood warnings. The property valuation office provides previous property valuation records to the public to understand our work and policy. One caller reported a tornado touchdown in Carroll County, but a police dispatcher said that a Kentucky State Police trooper sent to investigate found littler damage.

Hughes said about 1.03 inches of rain fell at Cincinnati/Northern Kentucky International Airport on Sunday. Winds up to 41 mph were reported at the airport at 65 mph to 70 mph in the southern part of Campbell County, he said. Some roads were closed there due to high water. Trees were also reported down in Kenton County, he said. The storms appear to be over, although temperatures — which tied the record high of 74 degrees Sunday — will drop to more normal levels, the National Weather Service is predicting. The high temperature today will be in the lower 50s with some sunshine. Clouds will develop later today with an overnight low in the mid 30s. It will be mostly cloudy Tuesday with a high in the upper 40s.

Real estate property auction business

Those questions and many others are being tackled at the University of Cincinnati and its affiliates — including the Children’s Hospital Research Foundation — where faculty research into everything from evolution to engines is being fueled by $260 million a year in research funding. The amount is an increase of $30 million — 13 percent — in just the last year and nearly $68 million more than two years ago, said Howard Jackson, vice president for research and dean of advanced studies cheap conveyancing sydney.

The increase allows faculty and students to do research that will “contribute to society and impact all of us, directly and indirectly, in profound ways.” Jackson said the increase in research dollars compounds itself. Talented and highly innovative property conveyancers help in all the matters of property auctions. As faculty acquire more research funding, the university’s reputation as a state-of-the-art research facility is enhanced, bringing in more money for research. But the university also is reaping the benefits of an innovation-friendly infrastructure.

“We have the laboratory space available that is suitable for doing these types of cutting-edge experiments, we have a very effective intellectual property office that helps professors all the way through the process to patenting, and we have the business incubator on campus that can help these ideas turn into start-up businesses,” Jackson said.

In addition to the increased funding, UC’s professors also have shown increased results: For example, there were 98 invention disclosures, the first step toward a patent, filed last year, compared with 47 three years ago. There were 12 patents issued to UC professors through the university’s intellectual property office last year, compared with six in fiscal year 1999.

The university also earned $4.7 million from inventions last year. That mark was its best performance ever, tops among universities in Ohio, Kentucky and Indiana and 33rd in the nation. The university earned $3.9 million two years ago. Jackson said he doesn’t have a particular number in mind for next year’s funding, but he expects to see it continue to increase thanks to increased funding levels for the National Institutes of Health and the National Science Foundation, as well as Gov. Bob Taft’s $1.6 billion Third Frontier Project.

The $260.9 million in funding included basic and applied research as well as creative works and performances, he said. Nearly 63 percent of the funding, $163.2 million, went to UC’s east and west campuses. The rest went to UC faculty working at university partners: $84.4 million to Children’s Hospital, $6.8 million to the Office of Clinical Trials; $3.7 million to the Veteran’s Administration and $2.8 million to Shriner’s Hospital.

How Property Valuators impact your mortgage and how to identify the best ones?

For a Home mortgage application undergoes a number of processes, checks, counter checks, evaluations and appraisals. Valuation of property is one important step prior to provision of mortgage. However, other factors like income stability, age of the borrower, his or her previous credit history and records also have a bearing on the loan amount. Banking institutions offering loans and receiving mortgages application from customers will still look beyond their ability to pay. The quantum of loan offered; its tenor, the interest cost and other such important factors will determine to a large extent on the value of the property in addition to other parameters. Valuation of property will remain is crucial to lenders, as in the bank and the financial institutions and prospective borrowers both.


Banks protect themselves before providing for mortgages by performing valuation of the asset the customer wants to own in case of the customer who buys and then defaults on their loan. For the process, they typically hire an expert independent valuator or a company for undertaking the procedures. It requires a licensed professional. If specialized in various avenues of services means an added brownie point goes to them. And if registered with the Australian Property Institute, it means the valuation report comes with high endorsement worthy to trusted blindfold. Extensive knowledge of various aspects is a prerequisite. Report generated show crucial information pertaining to the quality of the construction, details about the locality of the property and other such information.

Customers too procure these services in addition to lending institutions. Either the report hinders or helps the customers’ in getting the right amount of mortgage loan. The property value and the loan amount are equally proportionate. The onus to decide on the accuracy and result of the process rests on the customer’s choice of his/her own valuer. An added advantage of hiring a personalized professional valuer is also to have a report to counter the one generated by the bank as a blessing to remove hindrance in the procuring loan. Hence, a role of a valuator is crucial and useful to both the Bank and also the customers as well.

Things One Ought To Know About Property Conveyancing

There are quite a few legal, administrative, statutory and compliance related issues and formalities that have to be completed whenever one decides to buy or sell a real estate property. Unless these tasks are completed successfully and within a stipulated time period there could be the risk of the entire transaction falling through. At the end of the day one has to understand that property settlement or conveyancing is a legal process and it culminates into a legal document. This legal document is also known as the property deed that conveys that the property has been transferred to the buyer from the seller. Since this is a highly complicated and difficult matter it is usually carried out by a solicitor or someone who is licensed to it.

It has to be borne in mind that there are more the one professional who could be involved in the entire process of property conveyancers sydney. It could range from the main property lawyers to other supporting professionals. They could include property valuers and appraisers, documentation specialists and other supporting and administrative staff. Hence, it would be wrong to look and property settlement in isolation from only the property lawyers’ perspective. Since there has to be a coordinated action on the part of all these professionals, property conveyancing is often regarded as highly complicated and difficult. That is perhaps the reason why most customers find it better to take professional help instead of trying to go through the process all by themselves.

Now let us try and have a look at the various occasions or situations where property conveyancing could become a must. Whenever you are planning to buy or sell a property there is no doubt you will have to go through this process. When are planning to increase or decrease the size of your home and are planning some structural changes to it, you have to bear in mind that property conveyancing is very important. If you are moving out from your own property and relocating to a new place, you may want to sell your property. In such cases too it is very important for you to take the help of property settlement agents to get the entire job smoothly.

The main roles of property conveyancers is to help to check on the legal status and legal purity of the property, value the same and find out the market value of the same and lastly help with the various administrative and support functions which culminates in change of ownership.

 

Mortgage And Property Valuation – Why They Are Closely Connected

1120250601009The first step that is taken by bank of financial institution when a home loan application is received is to have the property valued. This is usually not done by the bank staff themselves. They either have a panel of valuers in their fold or they outsource the activity to some good valuation company Melbourne. What are the reasons for having the properties valued before deciding on the loan amount. Let us try to find some answers for the same.

First and foremost, the loan amount would basically depend on the market value of the property. Though there are some informal ways and means by which the value can be found out, when it comes to lending thousands of dollars of home loan to customers, there ought to be an authenticated and legally accepted source which will be able to give a report on the valuation of the property.

Towards this objective seeking the services of agood and professional property valuer is very important for banks. Only on receipt of the valuation reports are matters taken forward. However, valuing such properties that come up for bank loans is not easy not because of the complexities. It is simply because of the numbers that could be landing on a valuers table. Hence, if you wish to be a successful property valuer for banks you should understand the need to handle to big volumes having very tight and highly demanding time lines.

Why Is Valuation Important In Any Mortgage Loan

mortgage-agreement-essayWhenever a decision to buy a home or some other property is taken, the first thing that comes to our mind is the need to source funds for such purchase. There is no doubt that banks and financial institutions are the major source of funding for most of the customers. However, when applying for a home mortgage loans there are a number of steps that need to be gone through. One such step is getting the property valued by an independent property valuer. Let us try and find out why valuation is very important for mortgage home loans and how exactly it is done.

The main reason why valuation of property in Brisbane is very important for banks and financial institutions is quite obvious and not very difficult to understand. Banks lend money to borrowers for constructing or buying homes and apartments. Once the loan is disbursed, the original documents of the property stands pledged with the banks and therefore the property in question also remains mortgaged to the bank as security. While all this is fine, it is not always possible for the bank to lend money based on the valuation show in the property sale deed alone.

It is here that the role of an independent third party valuer become very important. They help in ensuring that the valuation shown in the sale deed is not way off from the actual market value that the property commands at a particular point in time. This is very important because when taking a lending decision, the banks totally depend on the sale deed price and the valuation report that is generated by an independent third party valuer.

Hence, it is not surprising to see that a major chunk of business for real estate valuers comes only from banks and financial institutions. This goes to prove that property valuation and mortgage home loans are closely interconnected.

Buying Property Through Bank Loans – Things To Keep In Mind

century3It is quite obvious that only 2 out of 10 people would be in a position to buy homes from their own funds without taking recourse to loans. While the dream for owning a own home or apartment is quite overpowering, lack of finance often comes in the way. In such circumstances the only option is to go in for home loans or property loans as they are also referred. Today, almost all banks and financial institutions have become extremely aggressive in lending loans for construction of homes, purchase of new homes or for buying strata-buildings and apartments. Many of the customers often do not do their homework properly when it comes to borrowing home loans. It would not be right on part of the customer just to go in for the first home loan that comes their way. It is important to take such vital decisions after a lot of due diligence. It has to be kept in mind that mortgage home loans are very long in nature and hence they must seek help of the right property valuers in perth to be able to get perfect idea about value of the house.

The first step before going in for any type of home loan is to find out how much you can contribute as your share for such loans. No banks or financial institutions would be willing to fund 100% of the cost of the entire property but for some very rare and extremely special circumstances. Hence, as a borrower you should be ready with your margin money and usually this is around 15% of the cost of the property. The next important thing is to find out how good your credit history or credit score is. This has a major bearing on the quantum of loan, tenor of loan and most importantly the interest rates that will be charged for such loans. Hence, it is always advisable to keep your credit history clean and blemish-free to the maximum extent possible.

You should be willing to move around and do some window shopping and take inputs from as much banks and financial institutions as possible before actually zeroing in on one particular bank or financial institution. You should be all eyes and ears to be on the lookout for some hidden costs in terms of processing fees and other such charges. You should also be well informed to make a choice between fixed rate home loans and floating rate home loans. If the tenor is short then it is better to go for variable rate loans because you will be able to come out of the loan liability that much faster though you may end up paying something more by way of interest.

Since home loans are a long term liability and you also have some tax benefits available against such loans, these figures must also be factored before signing on the dotted line. You should be left with enough funds to run your family. You might be an individual when you might have taken the loan but since many mortgage loans could run for more than 15 to 20 years, you must keep your long term expenses and requirement of funds before committing yourself for such long term liabilities.

There are many banks which also offer the facility of paying back your loan in installments and you should always keep this option in mind. However, you should again do a careful calculation and find out whether it makes sense to reduce your mortgage loan liability or invest the money elsewhere and earn some profit out of it. In fine, while getting a home loan is not a big problem, proper planning and forecasting is of extreme importance.

How A Career In Property Valuation Can Open The Flood Gates Of Opportunities

819d0a6cc1ff0de5dfb2The job market without any doubt is extremely difficult and very volatile. The conventional job markets are fast drying up or even if they are available there are large numbers of aspirants for a few posts. Hence, it is always better to look for alternate career options that are no so very competitive and at the same time offer good growth options. The real estate industry is one such segment which offers many unconventional jobs and career paths. Whenever a property is bought or sole there are a number of steps that have to be completed. These steps usually start from the moment the buyers and sellers start looking for customers. Further whenever there is an in principle decision to buy or sell a property there are quite a few legal, administrative, compliance and statutory requirements that have to be fulfilled.

All the above requirements certainly require a lot of man power and therefore looking at real estate industry as a career option is not a bad idea. However, it is important to choose the right profession keeping in mind the current demand, the expected growth and last but not the least job security. One such field that is worth considering is a career in real estate valuation of real estate appraisal as it is often referred to.

Every time a property is bought or sold it has to be valued by a qualified, experienced and certified professional. While there are many professionals who take up property valuation as a full time business, there are many real estate companies, banks and real estate attorneys who employ property valuers because of the huge demand for property valuation. Even when properties are not being bought or sold, there could be many customers who would like to value their properties to find out its present and fair market value.

Therefore there is bound to be a continuous demand for quality property valuers and appraisers. The growth prospects are also good and over a period of time they can aspire to become a property conveyancing specialist. All that is required is a formal qualification on property valuation and also some basic understanding about the various processes that are required to be gone through when a property is bought or sold. Hence if you are looking for an alternative career path you should consider property valuation as a worth-considering option. It will not only provide good remuneration but there are ample avenues to move ahead and reach higher echelons of success in corporate life.

Myths About Property Valuation And Mortgage Financing Busted

350px-Mortgage_backed_securityWhile there is no doubt that buying and selling a real estate property is an important event there are quite a few process and steps that needs to be followed. Valuation of property is one such step that needs to be given the importance it deserves. What exactly is property valuation and why is it concerned so very important? Let us try and find the answers for the same over the next few lines.

The main aim of property valuation is to find out the fair market value of the same. This is very important because of many reasons. First and foremost, when buying or selling a property however small it might be there are thousands of dollars at stake. Hence, both the buyers and sellers would like to be sure that they are buying or selling at the right price which is close to their heart and which is truly representative of the market value. Secondly, there are many statutory levies and taxes which are levied based on the valuation report suggested by the property valuers. In fact most of the property tax amounts are decided based on property valuation reports though there could be some guideline values set by the authorities.

Banks and financial institutions also depend very heavily on property valuation reports. Whenever a customer approaches banks and financial institutions for mortgage home loans, the first thing that they do is to raise a property valuation request from the list of valuers that they have in their database. The valuers report plays a very important role because it forms the basis on which the loan amount is decided.

However, there is a common myth that property valuation when done by banks is often wrong and they have a tendency to understate the valuation. This is more of a myth than anything else. This is because property valuation is always done by professional valuers who do not get influenced by pulls and pressures from banks if at all any. Hence, to suggest that all property valuations emanating from banks and financial institutions are lopsided is not factual but based on opinion. At the end of the day no property valuer would like to tarnish his image by subscribing or succumbing to the pulls and pressures of banks as suggested by many customers. So, as customers you can rest assured that the valuation figures reported by the valuation companies of banks is perfect in almost all the cases.

Mortgage Home Loans And The Importance Of Property Valuation Explained

house diagram Apr 11Whenever there is a need to buy a home or apartment, it is quite normal for customers to seek mortgage loans from banks and financial institutions. As per statistics, eight out of ten real estate property purchases are made only with the help of mortgage home loans. Hence, it is very important to understand what it takes for a customer to get the best of mortgage home loans under the best terms and conditions. However, before sanctioning a home mortgage loan it is quite likely that the banks would put the proposal through a scanner. Amongst important tasks that are considered vital for appraising a proposal, there is no doubt that property valuation has an important role to play. Whenever a request for home mortgage loan is received by banks the first thing that they do is to raise a request for property valuation. The valuation is usually done by the valuers of the banks who are a part of their approved list.

The valuers take into account a number of factors including the location of the property, the size, age and other factors. They also factor in the overall development of infrastructure in the locality and the availability or absence of various amenities and facilities. The quality of people who comprise the neighborhood is also considered and only then a formal valuation report is given by the valuer to the banks. The banks take a call on the extent of funding of home mortgage loans based mostly on the valuation reports. Hence, it is a very important piece of document that could determine the amount of loan, the repayment period, the rate of interests and other such factors.

It is therefore important for customers to find out ways and means by which they can ensure that they choose a property that has a reasonably good market value. This would call for doing some due diligence before zeroing on a property. It would not be a bad idea to look for some good valuers or appraiser to value the property. This will help you to ensure that the bank is going the correct way as far as valuation of your property is concerned. If you fee that the property value is not to your expectation you can find out ways and means to look for other properties.

Therefore, valuation does play a very important role when it comes to looking for right mortgage loan at the right terms and conditions.

Property Valuation And Mortgage Loan Amount – How They Are Connected

uk-mortgages-approved-nov08When it comes to real estate buying there is no doubt that a majority of the purchases are made with the help of bank help or through mortgage home loans. This is because buying a home involves spending thousands or even millions of dollars in some cases. Secondly, a vast majority of purchasers will not have their own funds to invest so heavily in the real estate. Even if they had the kind of money, they would like to go in for mortgage loans because of the tax benefits and other attractions associated with it. However when applying for mortgage home loans there are a number of important factors that are taken into account. The valuation report submitted by certified and experienced valuers is something that cannot be ignored under any circumstances. This is one of the most important due diligence processes that are gone through by banks and financial institutions before a loan is disbursed. Let us over the next few lines try and find out how the valuers’ report could impact the final loan amount, tenor of loan, repayment terms and other such important factors.

Whenever a customer applies for a mortgage loan, the first and foremost task of banks and financial institutions is to raise a property valuation request. These requests are mostly handled by the banks’ approved list of valuers. The valuers immediately get into the act and start the process of valuation of the property in question. They value the property taking into many inputs. This could range from the size of the property, its location, the age of the property, the type of soil on which the property is located just to name a few. Based on these factors and after using various methods of valuation, the valuers come up with a valuation for the property.

This valuation figure is confidently sent to the bank. The bank use the valuation and also take into account other factors such as the income of the borrower, his age, his job security and stability, his past credit and repayment record and then decide on the loan amount. While the other parameters are also equally important, there is little doubt that property valuation has as silent but important role to play. Hence, when a person is planning to buy a real estate property, he should keep this point in mind and ensure that the valuation is in his favor.

How Your Loan Mortgage And Property Valuation Are Linked

imagesWhile there is no doubt that buying a home is indeed one of the most important and momentous occasion for many customers, arranging finances for the same is often a big headache. Towards this objective it would be pertinent to point out that banks and financial institutions have a very important role to play. Whenever a customer raises a request for home loans, the first thing that banks do is to find out the value of the property. This is very important because the valuation of the property as reported by the property appraiser or valuer has a big bearing on the amount of loan that the customer becomes eligible. While there is no doubt that other factors like income, stability of job or business, past credit history and other factors do have a big role to play, property valuation is the first parameter that the banks take into account while deciding on the credit proposal of a customer.

The valuation companies and individuals take a number of factors into account while going in for valuation of such properties. The age of the property, its location, the size of the same, its present condition, the quality of materials used for construction are some important factors that are taken into account. There are also other factors that have a bearing on the valuation report that is submitted by the valuer. This includes the quality of amenities and facilities available in the locality or neighborhood, the condition of infrastructure that the locality has, the quality of people who reside in the area and quite a few other factors. These are often referred to as qualitative aspects of property valuation which also has an important bearing on the final fair market value of the property as reported by the valuer.

Hence as a customer you should be quite careful about the location in which you choose to buy a property. While the overall budgets are very important, it is always better to go in for a slightly smaller property in a reputed area than settling fro big properties in some lesser known areas and localities. This is because valuation will differ quite significantly based on the location of such properties.

How Property Valuation Could Help Mortgage Loan Customers

d7e6fda442f54a5b9bb9c249e6ba2e56Whenever a home mortgage loan application is received by banks, it goes through a number of processes, checks, counter checks, evaluations and appraisals. Valuing the property that is being planned for purchase is one such step. It is very important both for the lenders and the prospective borrowers. The quantum of loan, the tenor of loan, the interest cost and other such important factors are often determined to a large extent on the value of the property amongst other parameters. It is therefore important for the customers to ensure that they pay heed to this factor and ensure that the property in question shows a reasonably high fair market value when it is appraised by valuers.

There are a number of factors that could play a big role in determining the value of the property apart from the ones that have been mention above. For example, in many valuation reports apart from the fair market value of the property there are quite a few other pieces and bits of information which are also extremely useful for the customers and also the lenders. Simple information like the level of infrastructure development, the availability of the various amenities and facilities in the locality have a lot to in enhancing or decreasing the value of the property in question. Additionally, many valuers also take the trouble of defining the quality of people who make up the neighborhood. Also, some valuers make it a point to value other similar properties so that there is a logical comparison of the various market values.

Taking the above points into account, the banks decides on the amount of funding, the interest at which it should be funded and also the tenor of the loan. However, other factors like income stability, age of the borrower, his or her previous credit history and records also have a bearing on the loan amount. It is therefore important for valuers to look at mortgage loan applications holistically. Mere focus of credit history, income stability and age may not be able to get the best deal as far as the home loans are concerned. It would also not be a bad idea for the customers to conduct their own valuation and corroborate the valuation figures as reported by the banks and financial institutions.