Loan Security Valuation Flashcards
1
Q
What would you do if you found a defect within the propery?
A
you need to consult the bank – we do not have the expertise, but we can advise the bank who what to do/to enquire further.
2
Q
Is Market Rent different to ERV?
A
Market rent is defined in the rent book – the amount of rent paid as at the date of valuation by willing lessor and lessee etc…
ERV – estimated rental value – when something comes at the end of the lease to change the lease (not market facing)
3
Q
What makes a good special assumption?
A
Relevant
Realistic
Valid
4
Q
What information should you specifically request for a secured lending valuation?
A
The details of the loan. Everything else is exactly the same for all standard valuations so tenancy info, floor areas etc.
