Do you need an appraisal report for a home in Bonaire?

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Have you finally bought your dream home in Bonaire? Congratulations! After your offer has been accepted, it is important that you arrange financing for your new home as soon as possible. To apply for a mortgage at a bank on Bonaire you will need an appraisal report. RE/MAX Paradise Homes Bonaire can assist you with this.

A bank or lender would like to receive an independent appraisal report to assess the value of the house you have purchased. Based on this, among other things, the amount of the mortgage loan, i.e. the maximum amount you can borrow, is determined. Of course, in addition to the value of the house you have purchased, other factors also count in determining the maximum mortgage amount. These include your income (gross annual income) and your own contribution.

There are several banks and financial institutions on Bonaire where you can apply for a mortgage. RE/MAX Paradise Homes Bonaire works with several banks for appraisals. These banks are Maduro & Curiel's Bank Bonaire (MCB), RBC Royal Bank, ORCO Bank, Centrale Hypotheekbank (CHB) and Banco di Caribe. So when you apply for a mortgage with the above banks, you can contact RE/MAX Paradise Homes Bonaire for an appraisal report.

What does an appraisal report consist of?

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The appraisal report consists of several parts. First, the report clearly describes exactly what you bought. Think of the area of the new house, but also the area of the lot on which the house stands. In addition, the surroundings and surrounding infrastructure are also described in the report.

Further on in the appraisal report you will find details about the construction method of the house. Here the materials used to build the house are recorded in detail. The maintenance condition of the house is also mentioned. To explain and clarify all this, photos of the house are added to the appraisal report.

For the financing institution, next comes the most important part of the report. The actual value of the house. This is divided into three different categories: current market value, foreclosure value and rebuilding value. Based on this information, among others, it is determined whether or not the bank wants to grant a mortgage for this house.

So have you just bought a new house, and do you need an appraisal report to apply for financing? Please contact RE/MAX Paradise Homes Bonaire, we are happy to help you. You can reach us by calling us at 005997177362 or sending an email to info@bonairehomes.com. You can also use our contact form on our website.