Whether it is a purchase mortgage
or refinance, if the value of a property is not as high as initially thought,
the deal may not close as larger down payments may be required or there may not
be enough equity – so there is huge value in taking a moment to verify a
property value at the application stage!
Purview For Mortgage Brokers
continues to be one of the top tools that mortgage brokers and agents are using
to cross-check property values that are provided in a mortgage application.
We are committed to your ongoing
development and recognize that some may be new to using Purview, so this post
will re-visit how to use Purview to verify a property value.
1.
The first thing you
will need to do is perform a property search. To perform this search by address
or owner’s name, all you have to do is a) select your desired province from the
dropdown menu, b) enter either the address or homeowner’s name, c) click
search, d) review potential matches from the search results table.
2.
Once you have located
the property, click to generate a Broker Report.
3.
After clicking to
confirm, the report will be generated.
The
report will contain:
·
The address and legal
description of the selected property
·
Who the homeowner is
·
The sales history on the
selected property
·
The estimated value of
the property
·
Ranges of values in
the neighbourhood
·
Current mortgages
registered
·
Sales comparables –
both historical and at the current valuation date
·
Aerial views of the
property, neighbourhood and closest sales comparables
You can download a sample report
with section descriptions by clicking here.
To learn more about the Purview
For Mortgage Brokers or to schedule training please contact 1.855.787.8439.
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