question on property

Old Jun 13th 2005, 3:44 am
  #1  
Forum Regular
Thread Starter
 
Joined: May 2005
Posts: 32
boracay is an unknown quantity at this point
Default question on property

hello. if the requirement is to submit a valuation of the properties owned, do we need to get an indpendent appraiser to prepare the report ?
boracay is offline  
Old Jun 13th 2005, 4:29 am
  #2  
 
Joined: May 2004
Posts: 8,984
Andrew Miller is an unknown quantity at this point
Default Re: question on property

What requirement? When? By whom?

Originally Posted by boracay
hello. if the requirement is to submit a valuation of the properties owned, do we need to get an indpendent appraiser to prepare the report ?
Andrew Miller is offline  
Old Jun 13th 2005, 4:35 am
  #3  
little snowy owl
 
Alberta_Rose's Avatar
 
Joined: Nov 2004
Posts: 6,921
Alberta_Rose has a reputation beyond reputeAlberta_Rose has a reputation beyond reputeAlberta_Rose has a reputation beyond reputeAlberta_Rose has a reputation beyond reputeAlberta_Rose has a reputation beyond reputeAlberta_Rose has a reputation beyond reputeAlberta_Rose has a reputation beyond reputeAlberta_Rose has a reputation beyond reputeAlberta_Rose has a reputation beyond reputeAlberta_Rose has a reputation beyond reputeAlberta_Rose has a reputation beyond repute
Default Re: question on property

Originally Posted by boracay
hello. if the requirement is to submit a valuation of the properties owned, do we need to get an indpendent appraiser to prepare the report ?
If you are talking about demonstrating equity in your property as proof of funds for the London (or Sidney) offices (not sure how many other offices accept this), what we did was get a valuation letter from a local estate (free), and sent it together with a recent mortgage statement.

This proved sufficient, although I do know some people submit 2-3 valuations rather than just the one.

This was just our experience.
Alberta_Rose is offline  
Old Jun 13th 2005, 7:36 am
  #4  
Here and happy at last
 
gooding's Avatar
 
Joined: Oct 2003
Location: Vancouver Island
Posts: 784
gooding has a brilliant futuregooding has a brilliant futuregooding has a brilliant futuregooding has a brilliant futuregooding has a brilliant futuregooding has a brilliant futuregooding has a brilliant future
Default Re: question on property

If you are applying through London, they DO now accept valuations on property to show equity as proof of funds.It is actaully written in their manual.
As said previously, just get local agent to give free valuation, just make out you are putting house up for sale in near future. You can get a couple if you want interesting to see what value is anyway. We had a new one recently and it has gone up by about £25,000 in a year.

Then send with an up to date mortgage statement if you have one, to show equity. we just included a statement done on computer of all funds available or property owned against any debts/ mortgage .Investments etc.
showing balance left. We even allowed for flights, removals, childrens invesments etc. To show we had looked into all costs involved with moving and setting up home overseas.
If you get PR, you do have to have the required funds transferable to Canada to show on landing. So as I expect you wil sell the house and put money in bank you then show the statement showing these funds readily available to move to Canada if yo have not done it by then.

Originally Posted by boracay
hello. if the requirement is to submit a valuation of the properties owned, do we need to get an indpendent appraiser to prepare the report ?
gooding is offline  
Old Jun 13th 2005, 1:05 pm
  #5  
Forum Regular
Thread Starter
 
Joined: May 2005
Posts: 32
boracay is an unknown quantity at this point
Default Re: question on property

Originally Posted by Andrew Miller
What requirement? When? By whom?
Andrew, the local CIC requirement in the checklist for Manila is that the assets to be submitted be supported by the proof of ownership (i.e., title) and the valuation of the same. These requirements are to be submitted at the start of application stage. Thanks.
boracay is offline  
Old Jun 13th 2005, 1:50 pm
  #6  
 
Joined: May 2004
Posts: 8,984
Andrew Miller is an unknown quantity at this point
Default Re: question on property

This Manila specific requirement has nothing to do with settlement fund as the first part of the very same section of Manila's checklist clearly states what must be submitted to prove settlement funds.

What you are asking about is Personal Net Worth Statement that must be completed and fully supported by evidence by all Manila applicants in Skilled Workers class - and yes, valuations must be done by person or company legally authorized to make such formal valuations in your jurisdiction.


Originally Posted by boracay
Andrew, the local CIC requirement in the checklist for Manila is that the assets to be submitted be supported by the proof of ownership (i.e., title) and the valuation of the same. These requirements are to be submitted at the start of application stage. Thanks.
Andrew Miller is offline  
Old Jun 14th 2005, 3:12 am
  #7  
Lotus-eater
 
Rich_007's Avatar
 
Joined: Jan 2004
Location: Cascadian Autonomous Elysian Region
Posts: 5,069
Rich_007 has a reputation beyond reputeRich_007 has a reputation beyond reputeRich_007 has a reputation beyond reputeRich_007 has a reputation beyond reputeRich_007 has a reputation beyond reputeRich_007 has a reputation beyond reputeRich_007 has a reputation beyond reputeRich_007 has a reputation beyond reputeRich_007 has a reputation beyond reputeRich_007 has a reputation beyond reputeRich_007 has a reputation beyond repute
Default Re: question on property

Originally Posted by gooding
If you are applying through London, they DO now accept valuations on property to show equity as proof of funds.It is actaully written in their manual.
As said previously, just get local agent to give free valuation, just make out you are putting house up for sale in near future. You can get a couple if you want interesting to see what value is anyway. We had a new one recently and it has gone up by about £25,000 in a year.

Then send with an up to date mortgage statement if you have one, to show equity. we just included a statement done on computer of all funds available or property owned against any debts/ mortgage .Investments etc.
showing balance left. We even allowed for flights, removals, childrens invesments etc. To show we had looked into all costs involved with moving and setting up home overseas.
Absolutely the detail....this is what we did, worked fine no [more] questions asked. Mind you, if case is borderline, then not sure of risk.

Rich.
Rich_007 is offline  
Old Jul 14th 2005, 8:34 pm
  #8  
Forum Regular
Thread Starter
 
Joined: May 2005
Posts: 32
boracay is an unknown quantity at this point
Default Re: question on property

Originally Posted by Andrew Miller
This Manila specific requirement has nothing to do with settlement fund as the first part of the very same section of Manila's checklist clearly states what must be submitted to prove settlement funds.

What you are asking about is Personal Net Worth Statement that must be completed and fully supported by evidence by all Manila applicants in Skilled Workers class - and yes, valuations must be done by person or company legally authorized to make such formal valuations in your jurisdiction.
APPLICATION FORM - ABOUNT "FUNDS"

Number 10 of Schedule 3 of the application form requires that the applicant indicates the "amount of unencumbered transferable available funds you have, in Canadian dollars". However, in the guidelines for the accomplishment of the forms, it is provided that "'Funds' refers to money in Canadian dollars, and includes the value of any property you own. It does not include jewellery, cars or other personal assets.".

I know that there is in fact a separate net worth statement that needs to be submitted, but what do we put in the Funds section under Number 10 of Schedule 3 --- just the amount of cash/deposits on hand OR do we include the net value of real property (fair market less mortgage) ?
boracay is offline  
Old Jul 14th 2005, 10:52 pm
  #9  
Forum Regular
 
Joined: Oct 2004
Posts: 92
triniangel is an unknown quantity at this point
Default Re: question on property

Originally Posted by boracay
APPLICATION FORM - ABOUNT "FUNDS"

Number 10 of Schedule 3 of the application form requires that the applicant indicates the "amount of unencumbered transferable available funds you have, in Canadian dollars". However, in the guidelines for the accomplishment of the forms, it is provided that "'Funds' refers to money in Canadian dollars, and includes the value of any property you own. It does not include jewellery, cars or other personal assets.".

I know that there is in fact a separate net worth statement that needs to be submitted, but what do we put in the Funds section under Number 10 of Schedule 3 --- just the amount of cash/deposits on hand OR do we include the net value of real property (fair market less mortgage) ?
hI
I just included the figure and sent no documents at all and this was no problem . To me th emor eimportant thing is that you submit the prrof of unencumbered funds.
triniangel is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Manage Preferences - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Your Privacy Choices -

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.