What is the pledge?
Let’s consider the problem: who estimates the pledge? The bank employee or the independent appraiser? Unities in the approach to this question between banks don’t exist that speaks about difference in construction of the settled business models.
Today there are three basic variants of an estimation of pledged property.
Variant 1. An estimation of the property transferred to bank as a deposit that the independent estimate company performs. That the bank has accepted an estimation of property the independent company as reliable between bank and the company-appraiser the joint agreement consists. Certainly, the given agreement has long-term character. Having the list of reliable appraisers, the bank directs the client to corresponding addresses. Transfer by bank of powers according to pledged property to the company-appraiser is one of examples of bank outsourcing. All banks do not use the given service.
Variant 2. In the bank job pattern the special mortgage service is allocated, and the employee of service of pledges independently produces an estimation of all arranged as proof of property. The given approach is convenient both to bank, and the client, first of all, by flexibility of carrying out of estimation. As the employee of service of pledges and the credit expert work jointly, terms of carrying out of an estimation and, hence, speed of reception of the decision under the credit are reduced. The client doesn’t spend the time for visiting of other organizations, receiving a complex of accompanying services at one office.
Variant 3. Very often credit expert combines in the work of function of carrying out both the financial analysis, and an estimation of property pledged by the client, acting, thus, and as the appraiser from bank. Besides, it is frequent in bank practice combination of the above described variants is used. At availability at bank of possibilities of an independent estimation of property the client has the right to use services of independent appraisers at own discretion.
For accepting by property bank as a deposit it should correspond to accurate enough criteria:
The pledged property shouldn’t fall under current legislation restrictions, on pledged property there should not be restrictions on the order (current judicial dispute on an ownership right etc.)
The property actual state should correspond to its documentary description and requirements shown to it;
Volume of the rights of the pledger should be sufficient for cession of property in pledge (the property belonging to the pledger, as a rule, only on an ownership right) as a deposit can be transferred;
Conditions of the maintenance of property should provide its safety on all period of validity of the credit agreement.
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