Time to evaluate the house to ask for a mortgage loan: the factors that weigh

One of the first steps to be taken in a house purchase process, using banking (housing loans), is the bank evaluation of the property in question.

 

It is with this operation that everything starts, if you are interested or need bank financing to acquire a property.

 

There are more valuable properties than others in the perspective of the bank, taking into account the age, the state and the location of the building where the property is inserted.

 

"The valuations result from the market where the real estate is inserted. Characteristics related to the location (proximity to public transport, road network, existence of parking, proximity to areas with greater public equipment, proximity to the river, view, etc.), state of conservation, type of finishes and age of the property are some characteristics which affect the value of a residential property, among many others, "explains Paulo Barros Trindade, president of the Professional Association of Evaluation Societies (ASAVAL).

 

It is considered that the profession of appraiser is subject to high pressure and that the measures that the Bank of Portugal applied to the financial sector in the context of housing loans at this moment are adequate to avoid situations such as those that occurred in the past - the level of non-compliance of households.

House values ​​have risen, as a result of bank valuation figures have also risen. Contrary to what is speculated, we are not faced with a real estate bubble, it is considered that the market operates in normality and it is taken into account that the values ​​practiced result directly from the supply / demand relationship.

 

With regard to the real estate valuation expert profession, some minimum requirements are required, such as a compulsory degree in engineering, architecture, economics or management and a postgraduate degree in real estate appraisal.

Still, we know that experience and continuous training enable appraisers to start their business in simpler real estate, such as the residential sector, and then move on to more complex real estate that requires more specialized knowledge.