Market valuations for First Mortgage Security;
- Despite the urban myths, this assessment should reflect the current market value of the property as at the date of inspection;
- In reality it does not matter what the purpose or requirement of a valuation, the answer is the same. There is not a separate method for valuing residential property for banks;
- We are often required to have sales within 6 months of the valuation date;
- We are also often required to give our advice assuming either a 3 or 6 month selling period, depending on the asset.