Once the borrower has executed the term sheet and returned it, along with the valuation fee and application fee, the next step is for the private mortgage broker is to order the valuation report. The broker will liaise with the borrower, and the valuer, to arrange physical access to the grounds and interior of the security.

The valuer, prior to visiting the security, performs searches for comparable sales using Corelogic RP Data. The valuer then attends and inspects the security, taking photographs inside and out. The valuer will then drive by and inspect comparable sales and research them using various online tools.

The crux of the valuation report is the valuer determining which properties are comparable (comparable location and property type) and determining whether the security is superior or inferior to each of these. Using this comparable sales evidence the valuer then ascribes a value to the