Property Valuation appraisal is a procedure for calculating the value of a real estate object. The value of real estate is calculated by an expert reviewer grounded on numerous factors, some of the main factors that form the request value of a property
• type of property;
• the position of the object;
• the current value of analogous objects in the real estate request;
• specialized characteristics and condition of the object;
• date of construction or form;
• girding terrain and structure.
Why do you need an expert assessment of real estate
An expert assessment of real estate is issued before carrying out legal and banking procedures with a real estate object trade, donation, exchange, heritage, carrying a loan secured by real estate, mortgage enrollment , donation to the authorized capital of the company and other procedures handed for by the legislation of Ukraine.
When registering legal deals with real estate, the valuation of the property is executed in cases where the sale is NOT between persons of the 1st and 2nd lines of association. So, if the sale is executed between consorts or a parent and a child, it isn’t necessary to issue an expert assessment of real estate.
How is a Property Valuation appraisal done?
Real estate appraisal can only be carried out by a pukka reviewer. Real estate appraisal takes place in several stages
1. Applying for an appraisal. To complete the operation, the specialist will clarify with you the type of object, its area and position, as well as the purpose of the assessment. In addition, he’ll agree on a accessible time for the reviewer to visit the installation, since the presence of the client or his representative is obligatory during the departure.
2. Study of documents for real estate. To conduct a real estate appraisal, you need to give clones of the title documents for real estate and the passport details of the proprietor.
3. examination of the property. The check takes place during the departure of the reviewer isn’t the object of assessment. The reviewer examines the condition of the object, its compliance with title documents, position, girding terrain and structure, etc.
4. Analysis and cost computation. Grounded on the legal documents attained during the check, as well as taking into account the fiscal situation on the request for analogous real estate, the reviewer calculates the value of the object.
5. Preparation of a real estate appraisal report.
6. Registration of the report in the state register.
7. Transfer of the evaluation report to the client.