BENEFITS OF OWNING LANDED PROPERTY.<br><br>It's very obvious that the year is fast running and it would be good to stop procrastinating but start implementing your plans for a better 2026 from now.<br><br>Are you planning to relocate to Canada, U.K New Zealand, Australia or any other developed nation of the world either or study, work or tourism and you have landed properties to buttress your economic status and strong tie to your home country'<br><br>It is no gainsay that everyone needs an oasis of peace and comfort in a safe haven like Canada, U.K, U.S and the rest of the developed world to enjoy comforts of world-class healthcare, international education, world-class leisure and more. <br><br>Without mincing words, many visa applicants do believe that "fat" bank statement is the paramount document they need to secure a visa approval forgetting that proof of good economic status in the applicant home country is also paramount. <br><br>Though, it's good to have good financial banking status. However, strong economic home tie is one of the major key factor often considered by visa issuing officers most especially for non-immigrant visa applicants like visit, study, medical and so on. The visa officers are more concerned about the economic tie cum status of an applicant to his/her home country, a kind of strong home ties that'll pull him/her back after the tenure of visit or study visa granted.<br><br>Secuing visa approval to these developed countries mentioned above often times is not a fluke as applicants would need to strongly proof to the visa issuing officer evidences of home ties that would make the applicant return to his/her home country on or before the expiration of the duration granted the applicant either for tourism, study, medical and other non immigrant visa categories.<br><br>Some of the evidences of home tie are marriage certificate, employment letter, certificate of investment, child/children birth certificate, bank statement of account, etc. <br><br>Meanwhile, the top secret is the use of valuation report on landed property owned to butress the applicant finacial status and strong tie to the homeland. A valuation report is a document prepared by a firm of registered Estate Surveyors & Valuers showing the current market value in monetary worth of your landed property or rental income accrue to a property owner on yearly basis if it's a rental property and that can also use to butress source of fund on account as the case may be. <br><br>Though it is expected that an applicant should have a certain required amount that would cover his/her expenses during the stay, but a valuation report would "tell more" about the economic/financial status of the applicant in his/her home country that could appeal to the visa issuing officer in making a favourable decision about the applicant. <br><br>Let's take for example, a single applicant for visit visa to Canada is expected to have a minimum of amount equivalent to CAD10,000 (Ten Thousand Canadian Dollar) and an applicant was able to meet that and also has property or properties worth equivalent of about CAD40,000 (Forty Thousand Canadian Dollars) or more, that tells more that such an applicant is doing well in his/her home country and would likely not be a liability to the visiting country. To be more practical, imagine someone that applied for a study visa has say N45m (to cover tuition fee, living expenses etc) on account in a bank, married with children and has property(ties) worth N65m or more. Don't be surprised such an applicant may be granted visa while someone that has say N100m on account without any proof of asset(s) or strong home tie may be denied. A visa officer would feel more comfortable to grant an applicant with strong home tie on the ground that he/she has investment/asset back home, wife and children that would make him/her to return after the duration granted. <br><br>So often times, money in the bank alone might not guarantee you but other support documents like your property/assets valuation report would do the magic.<br><br>No doubt you might have documents like purchase receipt, survey plan, deed of assignment or contract of sale on the property but those documents can not give the current market value of the property as land appreciate in value over time. So only valuation report will State the current value. Land you bought five years ago cannot be same value in the present year and possibly you've built on it.<br><br>Even for Canada Express Entry applicant, proof of fund is one of the basic requirements for permanent residence applications. Applicants need to provide to Canada Immigration & Citizenship an evidence of enough mandatory funds to support oneself and any accompanying family members when landed in Canada. This is because the government of Canada will not provide any financial support for new immigrants and therefore need to be sure the new immigrant will be able to support him/herself and his/her family members and same goes for study, either in the United Kingdom or Canada. <br><br>The amount required depends on the family size and can vary from time to time and for study visa depends on the institution. Meanwhile, at the time of putting in your application you'll need to show that you have at least the required amount. However, you can also submit a document that shows that you have asset that could be liquidated to cash if granted for your application to be processed.<br><br>Now you may be wondering what type of funds you can use and what type of proof is required. Well, there are options which we shall quickly dwell on into details:<br><br>SAVINGS: If you have savings which is equivalent or exceed the required amount, then your bank statement (not less than 3months) is a good proof of funds and if your money is split between several banks, you'll need to provide details of each to add up to the required amount or exceed if you have it.<br><br>REAL ESTATE: This is what many are not aware of that money in property is probably the most widely used proof of funds. It is a known fact that people sell property/ties owned in their home country before landing in canada or relocating to anywhere else and will use the proceed or equity to establish themselves after relocating and if not for permanent residence, it's a kind of high assuring factor that the applicant shall return to his/her home country upon completion of study or visit.<br><br>The immigration office appreciate the fact that you may not have sold the property at the point you're required to supply the information/proof and has made allowances for that. Therefore, all you need do is to get a firm of Certified Estate Surveyors and Valuers that is "skilled" in writing this kind of report (cos some basic information that are to be included) to value the property and give a report stating opinion of the current market value of the property , such valuation report MUST be on the firm letter head, duly stamped, sealed and signed. The immigration body can then see how much equity you have on the valuation report.<br><br>If the property is on mortgage, you'll need to submit a mortgage statement from your lender showing how much money is owned on the property, then you submit a valuation report along with it to be able to see how much equity available to you on the property. It is assumed that the property would have been sold and the money in your account before landing or relocating finally.<br><br>Meanwhile, if the property is an investment property, a rental valuation report can be submitted along with your application to proof/buttress your additional source of income. Therefore, a valuation report is not just a document but a very useful one that could facilitate your visa approval.
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