POF

[2future]

Hello All,
I need some clarification regarding POF. I have some property which I am going to put up on the market.But,as you know, it can not be sold overnight!Can I use valuation of that property as POF? Will it be accepted?Please someone throw some light on it.I can't wait until it is sold as time is running out. Please help!!!

 

[Cappuccino]

Hello All,
I need some clarification regarding POF. I have some property which I am going to put up on the market.But,as you know, it can not be sold overnight!Can I use valuation of that property as POF? Will it be accepted?Please someone throw some light on it.I can't wait until it is sold as time is running out. Please help!!!

CIC guide clearly says that proof of funds can include the value of any property. All the advice I have read says submit 3 estate agent valuations and a mortage statement or letter from your mortgage company, and then best to include a covering letter showing how you have calculated your proof of funds, and also make sure you include the minimum proof of funds required so you can show you are providing evidence of this, or greater, funds.

Be warned though that I have heard acceptance of property as proof of funds varies from visa office to visa office, so before submitting you may wish to check with other members who are using the same visa office as you that they accept property.

We submitted 23rd August (received 30th August) as we included 3 estate agent valuations and a letter from the mortgage company, showing we had over twice the minimum required.

Wayne.

 

[2future]

Thanks cappuccino, my visa office is London.I can get verification from estate agents but in my country there is no mortgage system.What should I do then?

 

[satnak]

Hello,

I am from INDIA and my VO is ND. As you said and is written in GUIDE, does the property has to be on principal applicant's name or spouse's name or it can also be on either parent's name with declaration from parent that it will be sold when VISA is approved or when ever their children needs.

Thanks

Satnam

CIC guide clearly says that proof of funds can include the value of any property. All the advice I have read says submit 3 estate agent valuations and a mortage statement or letter from your mortgage company, and then best to include a covering letter showing how you have calculated your proof of funds, and also make sure you include the minimum proof of funds required so you can show you are providing evidence of this, or greater, funds.

Be warned though that I have heard acceptance of property as proof of funds varies from visa office to visa office, so before submitting you may wish to check with other members who are using the same visa office as you that they accept property.

We submitted 23rd August (received 30th August) as we included 3 estate agent valuations and a letter from the mortgage company, showing we had over twice the minimum required.

Wayne.

 

[maq0r]

You or your spouses name.

 

[SATDXB]

show any asset , and get the valuation from any reputed Agent. The asset should only be on the name of you or your spouse, as her name will be included in your application.

So, if u have property, gold , vehicle.. u can go ahead.

 

[maq0r]

As far as I know only property is allowed.

No vehicles or jewelery

 

[satnak]

Hello,

Its on my husband's name and its mostly agriculture land. Do we need to send property owner ship docs as well with it. I guess they do not have REGISTRY as such of agriculture land. Its only some other docs which show owner ship.

Its in Himachal Pradesh state in INDIA, if anybody knows about regulation there.

Thanks

Satnam

 

[haral]

Hi, I have some farm land in Punjab pakistan and what i am doing is to ask a bank from the area my farmland is in to get these land`s worth evaluated from a third party.. they normally do it if one applies for an agriculture loan... or u can take your pass book to local patwari in your area... get latest worth typed on your pass book. and consult revenue office in your area to get the required document or probably you can check with real estate agents as well. they will charge you for this.... or even better would be to use your personal contacts...

Hello,

Its on my husband's name and its mostly agriculture land. Do we need to send property owner ship docs as well with it. I guess they do not have REGISTRY as such of agriculture land. Its only some other docs which show owner ship.

Its in Himachal Pradesh state in INDIA, if anybody knows about regulation there.

Thanks

Satnam

 

[2future]

Thank you everyone.@Haral I have residential property which is in my husband's name.Since you know how things work in our Pakistan,could you please guide me further?Plus I have another question.In pakistan no transcripts were delivered with results before 1996. I have the detailed marks sheets but no transcripts please tell me what to do?

 

[haral]

transcripts and marksheets are one and same thing....... this is what i did for my wife.. i went to her university.. gave them an app alongwith copies of her MSc degree and transcripts before eid holidays... they gave me a challan form and asked me to bring back the reciept after making payment 1000 pkr at the bank... went back after holidays and they sealed transcripts of her BA and MSc in a single university sealed envelope... i am going to get my done from Punjab university this Monday... u will have to visit and talk to few people and push a bit to get help...

as far as property is concerned... u will have to make copies of ownership document (get translation done if doc is in urdu) and attach attach a price evaluation document from one or two property consultants/dealers on their letterhead. they will charge u for that. (i dont know how much)

hope its of help to you..

Thank you everyone. @ Haral I have residential property which is in my husband's name.Since you know how things work in our Pakistan,could you please guide me further?Plus I have another question.In pakistan no transcripts were delivered with results before 1996. I have the detailed marks sheets but no transcripts please tell me what to do?

 

[Cappuccino]

Thanks cappuccino, my visa office is London.I can get verification from estate agents but in my country there is no mortgage system.What should I do then?

So if you have no mortgage does this mean you completely own your property with no debts? If you own it outright then you should probably send notarized copies of house deeds or proof of ownership.

For UK applicants applying to London they can verify ownership easily enough by checking the land registry. Obviously they cannot do this for Pakistan applicants which I think is why some kind of proof of ownership would be needed.

Wayne.

 

[canada121]

The guidelines under the link say:
http://www.cic.gc.ca/english/information/applications/guides/EG74.asp

Funds
Indicate the amount (in Canadian dollars) of unencumbered, transferable and available funds that you have. This amount can include the value of any property that you own, but should not include jewellery, cars or other personal assets.


But the above is for general information. Kindly note that these rules are diferrent for different Visa Offices
For Eaxample, for New Delhi Visa office please read the link below:

http://www.cic.gc.ca/english/pdf/kits/guides/E37029.pdf

Under the above link, pls see Point No 11, where it clearly says:
SETTLEMENT FUNDS
Refer to the "Proof of Funds" section of our Web site for exact figures and instructions.
Provide proof of unencumbered and readily transferable funds in a convertible currency available for settlement in Canada (for you and your family members):
•current bank certification letter; or
•evidence of savings balance; or
•fixed or time deposit statements.

Good Luck!!

 

[rocky272727]

SETTLEMENT FUNDS
Refer to the "Proof of Funds" section of our Web site for exact figures and instructions.
Provide proof of unencumbered and readily transferable funds in a convertible currency available for settlement in Canada (for you and your family members):
•current bank certification letter; or
•evidence of savings balance; or
•fixed or time deposit statements.

As mentioned by one of the forum members, also many applicants have emailed CHC New Delhi and have got a reply that property valuation is accepted as a proof of fund. Also it should be either in the name of PA or spouse.