Definition: The term 'mortgage view', also known as mortgage appraisal, refers to a professional assessment or evaluation of a property's potential value based on its current condition, including any necessary repairs or modifications that may be needed for a successful sale. Here are some key points about mortgage view: 1. Purpose: The purpose of a mortgage view is to provide an accurate and helpful indication of the overall market value of a property, as well as any potential improvements that may be required for a successful sale. 2. Scope: A mortgage view typically includes all major components of the property such as the current condition (e.g., structure, condition of roof, etc.), condition of appliances, condition of exterior and interior features (e.g., landscaping, windows, door frames, etc.), condition of property history (e.g., sale price), and other relevant information. 3. Criteria: A mortgage view is typically based on a range of criteria that include:
Market conditions - the current real estate market's value and outlook
Condition of properties in the area - the overall condition of the housing market
Historical sales prices - past sales prices of comparable properties in the same area
Recent property improvements - recent changes made to a property (e.g., renovations, upgrades) 4. Requirements: A mortgage view should also consider factors such as:
Financial feasibility - whether buying or selling is financially feasible
Risk assessment - any potential risks associated with the property and its future value
Legal considerations - any legal requirements or restrictions that may affect a successful sale Overall, a mortgage view provides an important tool for real estate agents to help buyers make informed decisions about purchasing a home, and it can be useful in helping sellers understand their property's market value before listing it for sale.

mortgage view