Sir, Thank you for the reply.kulyoma said:Hi there,
I declared my loan. On top of that I made an independent valuation of my real estate by three different appraisal companies and included the average amount of the valuation into my assets.
So I put in assets: savings in banks, cash on salary card, and real estate. I put in liabilities- the loan. I then derived my net worth (assets - liabilities). The amount of net worth without the real estate would have been not enough to comply with the minimum requirement for POF. But I explained in the LOE that I intend to sell the house after I get the ITA and close the loan.
All worked out, my application approved. Good luck!
I have a home loan of CAD100000 of 3 property.
Questions:
1. Should I do valuations of all properties?
2. I am planning to sell properties once received PPR, Should I need to declare this? If need to declare, on plain paper or affidavit?
Sir, urgently reply. I was about to submit the application.