Report on the appraisal of a residential building by a land plot. Apartment appraisal report (example)
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And why is she needed
You are going to buy an apartment with a mortgage.
The bank approved the loan application, the agent found a suitable apartment. The next step is to collect a complete set of documents for the bank. It will include a real estate appraisal.
Elena Evstratova
sold and bought property with an appraisal
When a bank gives a borrower a mortgage loan, it automatically takes as collateral the property that is bought with this loan: “Here is the money for you, but until you return everything, the apartment is like mine.” If the borrower does not return the money, the bank has the right to take the apartment and sell it at auction.
Strength mortgage loan just that the apartment is easy to sell at auction - in the language of banks, this is a liquid pledge. Banks are confident in their loans, so they can lower rates.
It is important for the bank what exactly it gives 3,000,000 rubles for: a hut or an apartment. Will he be able to sell this apartment for the same 3 million if something happens? This question must be answered by an assessment.
For the buyer, the assessment is an additional guarantee that the object is worth the money for which it is sold.
Who makes the assessment
Real estate appraisals are done by appraisers. Their activities are regulated by the federal law "On appraisal activities in Russian Federation". It can be a company or an individual entrepreneur.
What an appraiser must have:
Profile education, membership in self-regulatory organization and insured liability
Profile education
Membership in SRO
Liability insured
Banks are required by law to accept the valuation of any appraiser. But in reality, banks themselves accredit companies whose assessments they trust. Which appraisers are quoted by a particular bank is usually written on the website. Sberbank cooperates with 256 appraisers, Vozrozhdenie Bank - with 90.
How to choose a company for evaluation
Call the list of appraisal companies offered by the bank. Here's what you need to find out in the conversation.
How fast does the appraiser arrive? Normal time is 1-2 days.
How long does it take to prepare a report. Usually in 3-5 days.
How much is the appraisal. average cost in St. Petersburg - 3000 rubles. In Moscow, prices start at 2500 rubles.
How much does the second copy of the report cost. Appraisal companies make one copy of the report by default. The second copy in a normal company will be printed for free. In some companies, the second copy will cost 500 rubles.
What the report looks like
The appraisal of the apartment is made in the form of a report. The report is stored in printed form along with the mortgage on the apartment.
The report must include:
- who ordered and who performed the assessment, by what method;
- what kind of apartment it is, in what condition, how it is used;
- how are things in the market where this apartment will be sold;
- for how much it can be sold usually or at auction;
- what are the attachments to the assessment in the form of photographs and copies of documents.
Without the seal and signature of the appraiser, the report is invalid. Attached to the report is a one-page document with summary report. It is given to the bank along with the report.
What is the cost
Market value- the price of the apartment, if it is sold without haste and force majeure.
Liquidation value- the minimum price for which the bank will sell the apartment in a short time.
What affects the market value
The area in which the property is located. It affects the cost per square meter: in St. Petersburg square meter in the Moskovsky district, on average, 20,000 rubles more expensive than in the Nevsky district. Therefore, an apartment in a new house, which was built among old panel houses, will cost less than analogues in a good area.
Appraisers use research and data from real estate portals. This is a research page from the Real Estate Bulletin website.
Technical characteristics of the building: what year was the house built, when was it done overhaul and how many floors in the house. Everything is taken into account: the presence of a garbage chute, the organization of parking, the state of the front door.
The condition of the apartment. What floor, how many rooms and is there a repair. The appraiser even looks at whether linoleum or laminate is laid on the floor, whether there is a tile in the bathroom and how the lighting is done in the apartment.
The condition of the apartment matters: if the wallpaper is dirty, the report is marked “requires repair”.
Repair with wallpaper and for 70 thousand rubles, and for 5 thousand is equated to "European-quality repair". Therefore, it is not worth waiting for the appraiser to include the full price of designer repairs in the price of the apartment. At best, he will put a multiplying factor on repairs.
The real estate market at the moment. The expert looks at similar objects on the market. For singles in monolithic house analogues will be the same area apartments in monolithic or brick houses. Panel houses are usually not compared with brick houses or coefficients are introduced. Five similar objects are used to evaluate the apartment. Comparison of analogues - good way see where it's overpriced.
The last floor reduces the estimated value of the apartment by 2-3%, the first floor - by 5-10%
How to calculate salvage value
The liquidation value is calculated using formulas. What matters here is the elasticity of demand and the time value of money.
An example of elasticity of demand. There is little demand for a three-room apartment in a new building on the ground floor, because large footage and a low floor scare away buyers. You can sell such an apartment in a short time only at a low price. The difference between the market and liquidation prices is up to 3 million rubles.
There is a high demand for a one-room apartment on the middle floor of a panel house within a 5-minute walk from the metro, because such apartments are always in demand on the market. The liquidation value of such an apartment is close to the market value.
An example of the time value of money. When we are talking about long terms and big money, it is often said that money becomes cheaper over time. That is, the ruble is now more valuable than the ruble in a year. If an apartment can be sold cheaper now, then it is better than a little more expensive later. This principle has many justifications: inflation, political risks, human mortality and world progress.
When an apartment is sold at a liquidation price, the loan is repaid first. The remaining funds are received by the borrower. Therefore, the higher the liquidation price, the more money will remain in his hands.
The liquidation value of a budget apartment is not much different from the market one. It is easiest to sell it on the market, because there is a demand for them. A luxury apartment in a new building will be sold for a long time even at a discount.
The spread of prices for three-room apartments in St. Petersburg
We have selected apartments within the same area according to the real estate portal EMLS
- Report on the assessment of the market and liquidation value of the property located at the address: St. Petersburg, Kalininsky district, Grazhdansky pr-t, 41, letter A
The work was done by Colliers International. St. Petersburg, 2004.
All calculations were carried out in accordance with the provisions of the Federal Law "On Appraisal Activities in the Russian Federation", valuation standards that are mandatory for use by subjects of valuation activities, approved by Decree of the Government of the Russian Federation of July 6, 2001 No. 519, as well as standards of professional activity in the field of valuation real estate Russian Society of Appraisers and International Valuation Standards developed by the International Committee for Property Valuation Standards (ICSOI).
2016-01-24 | popularity: 20065 - Report on determining the amount of damage from damage to a Toyota Cresta car (calculation of good residues)
The purpose of this assessment is to determine market value the amount of damage to the property being valued as of the date of the valuation. The assessment was carried out in accordance with Decree of the Government of the Russian Federation of July 6, 2001 No. 519 “On Approval of Valuation Standards”, “Methodological Guidelines for Determining the Cost of Motor Vehicles, Taking into Account Natural Wear and Condition at the Time of Presentation”, developed by the State Scientific Center NAMI together with employees of the Federal Center forensic examination approved by the Ministry of Economy of the Russian Federation.
Contractor: Denis Pashnin, Agency for Professional Property Appraisal
2015-04-17 | popularity: 21536 - Report on determining the market value of a one-room apartment located at the address: Novosibirsk, Sovetsky district, st. Lenin
The subject of this evaluation is studio apartment located in Novosibirsk. The purpose of the appraisal is to determine the market value of the appraisal object.
According to the “Valuation Standards Mandatory for Application by Subjects of Appraisal Activity” dated 06.07.01 No. 519, the term “market value” in this report means the following: the most probable price at which the object of appraisal can be alienated on open market in a competitive environment, when the parties to the transaction act reasonably, having all the necessary information, and any extraordinary circumstances do not affect the value of the transaction.
The determination of market value is built on the premise that property is sold on the market subject to certain conditions listed above. As a result of a sale and purchase transaction, a set of property rights passes from the buyer to the seller. It is these rights that are the object of evaluation. In this paper, the right to be assessed is the property right.
After the analysis, the appraiser came to the conclusion that the best and most effective use of the appraisal object is to use it for its intended purpose - an apartment. Further calculations to determine the market value of the valuation object were carried out on the basis of this conclusion.
The evaluation procedure included: 1) collection of necessary documentation and information about the object of evaluation; 2) application of a comparative approach to assessing the market value; 3) writing this Report.
2015-03-24 | popularity: 17550 - Report on the determination of the market value of one ordinary share of OAO Kostromskaya GRES
As part of this assignment, the market value of one share in OAO Kostromskaya GRES was assessed. The results of the appraisal were used for the purpose of contributing shares in OAO Kostromskaya GRES as payment for additional shares in OAO OGK-3. The assessment was carried out as of April 01, 2005.
The evaluation process used various methods and approaches that are most appropriate for this case. This valuation was carried out in accordance with the Law of the Russian Federation "On Valuation Activities in the Russian Federation", "Valuation Standards Mandatory for Application by Subjects of Valuation Activities", Methodology and Guidelines for the Valuation of Business and (or) Assets of RAO "UES of Russia" and its SDCs, developed by by Deloitte & Touche.
According to the analysis of strengths and weaknesses results obtained under various approaches, after consulting with representatives of investment companies, representatives of Deloitte and Touche, the Valuer decided to consider, along with the first option of giving weights, the option of giving more weight to the results income approach. This choice is justified by the fact that when buying and selling an asset, a rational investor focuses primarily not on the retrospective of the company's activities, but on the prospective income streams that he can receive from the acquired asset.
Contractor: Consortium "Expert - Russian Assessment", as of April 01, 2005
2015-03-07 | popularity: 16242 - Report on determining the market value of the object "Administrative premises"
Report on the assessment of the market value of the property - administrative premises, with an area of 336.1 sq. m., owned by the municipality "City of Kirov".
The objective of this assessment is to identify the features of the pricing of the object of assessment in relation to the characteristics of the relevant market segment, title, quantitative and quality characteristics the object of assessment, as well as the specifics of law enforcement practice for the completion of the proposed transaction. This will make it possible to unambiguously identify the object of assessment in the system of real and compulsory rights, to give a proper justification for the type of value being determined. Analysis of the documentation will identify the main components of the risks associated with the assessment, and calculate the amount of their coverage.
The assessment report has been drawn up in accordance with federal law"On valuation activities in the Russian Federation" dated July 29, 1998 No. 135-FZ; federal standards valuation, a set of valuation standards of the Russian Society of Appraisers (SSO ROO 2010).
The analysis of the obtained results for compliance with market data showed that the market value of the property under appraisal has a value correlated with market indicators. The cost of objects is in the range of average values for objects located in the same part of the city of Kirov, having a similar purpose and technical condition.
The appraiser did not conduct an audit or other financial due diligence information provided by you used in this report, therefore, does not accept responsibility for the reliability of this information.
In accordance with the purpose of the valuation, the market value of the Object of Valuation was determined on the basis of Federal Law No. 135-FZ "On Valuation Activities in the Russian Federation" dated July 29, 1998 and the Code of Valuation Standards of the Russian Society of Appraisers SSO ROO 2010, harmonized with the International Valuation Standards (2007 ) and mandatory for use by members of the self-regulatory organization of appraisers.
The application of the MTR ROO 2010, which are mandatory for the use by the subjects of appraisal activities, is due to the fact that the Subject of Appraisal is located on the territory of the Russian Federation, as well as the fact that the Appraiser operates on the territory of the Russian Federation. These standards were used in determining the approaches to valuation, the procedure for carrying out work, and in compiling the Valuation Report.
The application of the Code of Standards of the Russian Society of Appraisers (ROO) is due to the fact that the ROO Valuation Standards most fully describe the terms, definitions, concepts and valuation methods used in the evaluation of various types of property.
2015-03-07 | popularity: 18620 - Report on determining the market value of the object "Shop premises"
Report on the assessment of the market value of the property - the premises of a store with an area of 30.2 sq. m., at the address: Kirov, st. Lenina, d. 86, owned by the municipality "City of Kirov".
The purpose of the appraisal is to determine the market value of the property. The result of the assessment is the final value of the value of the object of assessment. The result of the appraisal can be used for expropriation municipal property.
The results of the evaluation of the described object are planned to be used for the alienation of municipal property.
The following valuation standards were used in this valuation: Code of valuation standards of the Russian Society of Appraisers SSO ROO 2010, harmonized with the International Valuation Standards (2007) and mandatory for use by members of a self-regulatory organization of appraisers.
The Code of Valuation Standards (SSO 2010) of the Russian Society of Appraisers (ROO) is designed to assess the value of property in the Russian Federation and other CIS countries - in full accordance with the adopted documents.
Performed by ANALIT LLC, Kirov, 2010
2015-03-07 | popularity: 14557 - Report on the assessment of the market value of registered ordinary shares of OJSC
The purpose and purpose of the assessment: determination of the market value of registered ordinary shares(100% of the authorized capital) OJSC (Type of activity - production of printing products) in order to contribute to authorized capital.
The property complex of the enterprise does not reflect the real ability of the enterprise to generate income, but reflects the current state of the enterprise, expressed through the state of its assets and liabilities. In this case, there is no need to determine the liquidation value at the time of valuation due to the absence of factors for urgent liquidation or business disposal. For the purposes of this assessment, the most optimal, according to our Appraiser, is the adjusted book value net assets enterprises.
As a result of the study of information provided about the enterprises of this industry in various sources, including the National Quotation System (www.nqs.ru) as of 01.10.2004, the information applicable for the purposes of this assessment on the price of shares of these enterprises at there is no over-the-counter market. Therefore, the methods of enterprises-analogues - the method of the capital market, the method of transactions cannot be used.
In order to estimate the market value of ordinary shares of OJSC KCC, this report used:
1. discounting method cash flows;
2. method of adjusted balance net assets.
Executor: LLC "Art-expert". Kazan, 2004
2015-02-23 | popularity: 11763 - Report on determining the market value of the object "Premises of the post office"
The purpose of this assessment is to identify the peculiarities of the pricing of the appraised object in relation to the characteristics of the relevant market segment, legal title, quantitative and qualitative characteristics of the appraised object, as well as the specifics of law enforcement practice for the proposed transaction. This will make it possible to unambiguously identify the object of assessment in the system of real and compulsory rights, to give a proper justification for the type of value being determined. Analysis of the documentation will identify the main components of the risks associated with the assessment, and calculate the amount of their coverage. As a result, a proper economic and legal justification of the final assessment of the object for the specified purpose should be carried out.
The result of the appraisal is supposed to be used for the purpose of alienating property on the basis of a sale and purchase agreement, the restrictions are determined by the appraiser independently.
Communications office. Area 108.1 sq.m. Floor one. Address: Kirov region, Oktyabrsky avenue. The owner of the subject property is municipality city of Kirov.
Purpose of valuation: Determining the market value of the rights to be valued for the valuation object
The purpose of summarizing the results of all approaches used is to determine the advantages and disadvantages of each of them, and, thereby, to develop a single cost estimate. The advantages of each approach in assessing the property under consideration are determined by the following criteria:
The type, quality, and extent of information on which the analysis is based.
The ability to take into account the specific features of the object that affect its value, such as use, potential profitability.
Source: Federal State Unitary Enterprise "Rostekhinventarizatsiya - Federal BTI", Kirov Branch, 2010.
2015-02-23 | popularity: 8620 - Report on the determination of the market value of the property "Cafe premises"
Report on the determination of the market value of an object of premises with an area of 33.2 sq. m. at the address Kirov region, Kirov, st. Moscow, 181
The purpose of the appraisal is to determine the market value of the property. The result of the assessment is the final value of the value of the object of assessment. The result of the appraisal can be used to alienate municipal property. The results of the evaluation of the described object are planned to be used for the alienation of municipal property.
The objective of this work is to identify the features of the pricing of the appraised object in relation to the characteristics of the relevant market segment, legal title, quantitative and qualitative characteristics of the appraised object, as well as the specifics of law enforcement practice for the proposed transaction. This will make it possible to unambiguously identify the object of assessment in the system of real and compulsory rights, to give a proper justification for the type of value being determined. Analysis of the documentation will identify the main components of the risks associated with the assessment, and calculate the amount of their coverage. As a result, a proper economic and legal justification of the final assessment of the object for the specified purpose should be carried out.
Performed by ANALIT LLC, Kirov, 2010
2014-11-08 | popularity: 11628 - Report on determining the market value of the property "Shop premises"
Report on the determination of the market value of an object of premises with an area of 14.2 sq. sq.m. m. at the address Kirov region, Kirov, st. Nekrasova, 1
The purpose of the appraisal is to determine the market value of the property. The result of the assessment is the final value of the value of the object of assessment. The result of the appraisal can be used to alienate municipal property.
This report has been prepared in accordance with Federal Law No. 135-FZ dated July 29, 1998 "On Appraisal Activities in the Russian Federation"; federal valuation standards, a set of valuation standards of the Russian Society of Appraisers (SSO ROO 2010).
The objective of this work is to identify the features of the pricing of the appraised object in relation to the characteristics of the relevant market segment, legal title, quantitative and qualitative characteristics of the appraised object, as well as the specifics of law enforcement practice for the proposed transaction. This will make it possible to unambiguously identify the object of assessment in the system of real and compulsory rights, to give a proper justification for the type of value being determined. Analysis of the documentation will identify the main components of the risks associated with the assessment, and calculate the amount of their coverage.
In the general case, the value recommended for making a transaction is the market value. The term implies a legitimate use, which in turn makes the typical seller responsible for guaranteeing the performance of the facility. In this case, the seller is not interested in warranty service and maintenance is carried out in accordance with the requirements of the Civil Code of the Russian Federation. Accordingly, in the calculation of cost parameters, it is necessary to take into account the absence of warranty obligations for operability and to carry out implementation on the “as is” condition.
Would you like to submit a report? on our website? Write to us about it.
Real Estate Appraisal Report is an obligatory written part of the work of a specialist and it is this document that is handed over to the client.
But the relationship between a specialist and another person who asked for a service is also fixed in the report and in a special contract.
One way or another, but the work done and the report compiled on it indicate that the service was received. The conclusion is a document that has legal force.
If it was compiled by a professional in his field, then the report can be attached to court documents, and can also be used in litigation and litigation, attached to the inheritance case and participate in other transactions provided for by the general trade turnover in our country.
Assignment for the valuation of real estate
Assignment for the inspection of real estate is the action that precedes the evaluation procedure. Receiving an order for work, a specialist, so to speak, receives the appropriate tasks. As part of this assignment, he must establish a number of facts. These include:
- object study,
- legal description of real estate,
- exact location,
- border characterization.
In addition, getting acquainted with the task, a real estate professional should:
- study all the nuances of the object,
- get acquainted with the entries in it in the relevant register,
- obtain information from the owner,
- raise archival documents, if necessary.
These actions must be done by each specialist appraiser so that the report compiled on the basis of the work contains only reliable information that corresponds to reality.
It is very important to pay attention to who makes the report.
A specialist appraiser who has the appropriate education has the right to draw up a report. Neither the assistant nor the secretary is authorized to draw up this document. Upon the fact of drawing up the report, the date of its compilation, the signature of the appraiser, as well as the seal, if the client has dealt with the company, are put.
But often, in practice, it happens that the specialist makes the assistant appraiser write a conclusion with all its complex nuances and rules, and the pro himself only puts his signature.
Such behavior is fraught with consequences in the form of an illiterate description of the process of assessment and conclusion on the analysis of the value of real estate due to the lack of experience of an assistant or secretary.
Who draws up the property appraisal report?
Conclusion on the acquired real estate, or rather, on its valuation as well can only be compiled by a specialist appraiser.
The fact is that before buying a property, future owners ask a professional to check the condition of the property. Only a person with special knowledge can accurately describe the condition. This means that it is they who should draw up a report in order to most competently reflect the current state of affairs.
Report price
Talking about the cost of a report on the analysis of the value of real estate is not unambiguous. The cost of a real estate appraisal report depends not only on the region where the citizen lives, but also on the object itself. If it's about commercial real estate, and we take into account the central strip of Russia, then the cost of the assessment will start from 15,000 rubles, Accordingly, this is the cost of the report.
If we talk about real estate such as a house, a built cottage or a land plot, then the cost of the work of a narrowly specialized specialist and the subsequent preparation of the corresponding document will vary from six to 8000 rubles.
If we are talking about an ordinary apartment or a room, then the cost of the apartment appraisal report will cost you the amount not exceeding 5000 rubles.
In the regions extreme north the value of this amount is slightly overestimated, but in the outback of the central strip of Russia, on the contrary, it is much lower. Yes, and do not worry that the cost of the above work on drawing up a conclusion is too high. In any city you can find alternative options, because much depends on the experience of a particular specialist.
Conclusion on the market value of the property
Real estate appraisal report(a sample real estate valuation report can be downloaded above) is a document that is drawn up in accordance with current law of our country, and contains all the results of the assessment of the market value of the object, as well as a listing of all the examinations carried out.
This act may include the following information:
- basic information about the object,
- description,
- grounds for carrying out the actions of a specialist,
- an overview of the existing real estate market,
- information about the methods used in the assessment,
- the possibility of transferring real estate as collateral,
- calculation of the value of the appraisal object,
- and also which documents were used by the evaluator as a source of information for the preparation of the report.
They must be provided by both the owner himself and some real estate service bodies, such as managing organization.
Report on the appraisal of the purchase price of the apartment
Apartment appraisal report(we suggest looking at an example of an apartment appraisal report above) - this is a document that is drawn up on the basis of the law and aims to determine how much the purchase price corresponds to the actual state of housing.
In this case, independent evaluation real estate should foreshadow the foreclosure procedure. It is necessary to determine a fair price.
Its location, layout, ecological condition, neighbors and so on are taken into account. The cost analysis process is common grounds, however, the report emphasizes that the apartment is being prepared for redemption.
Conclusion on the assessment of the foundation of a residential building
Report on the assessment of the foundation of a residential building is a document that contains an expert opinion that describes the foundation of a residential building, talks about its strength, expected service life, as well as various problems that may arise in connection with the operation of the building.
In this situation, the emphasis is on the state of the object. Also, it would not be superfluous to report its width, height, materials used, as well as the year of pouring.
Residential fire damage assessment report
The fire damage assessment report contains the following data.
- First, the analysis of all submitted documents, as well as testimony. It is also the consideration of photographs and their subsequent analysis and examination.
- Description of all the necessary techniques used by specialists. An approximate justification of each of the methods used, the implementation of the necessary calculations, the preparation of an estimate plan, which includes restoration work after a fire, an approximate calculation of the building's wear and tear, a list of the available package of documents, as well as an inspection plan.
Review of the report
Review of the apartment leak assessment report is compiled in the case when, for one reason or another, the property was the initiator of flooding.
In this situation, it is necessary to assess not only the damage that was caused to the apartments below, but also the damage to the property that caused the flood.
In this situation, a specialist appraiser is also called in, who is obliged to bring all the necessary work and expertise in order to establish the cause of the leak and the damage caused, as well as in general to establish how much the property has lost in value due to this incident.
Coordination of real estate appraisal results
Coordination of the results of the inspection of real estate- This is a procedure in which two reports that were drawn up upon the fact of the appeal of the same owner are compared with each other in order to accurately establish the estimated value of a particular property.
In this case, the opinions of the two experts can either converge or diverge, but not significantly.
In this case, an additional assessment is made, and the result is submitted to the owner of the object selected for examination. A distinctive feature of this report is that it is compiled in the form of a table.
Now you know in what situation what specific report on the valuation of the property you may need, and on your own, without the help of specialists, you can choose the one you need.
However, only a competent professional can help you draw up this document, which you can find on the appropriate ad in the city itself.
When inheriting real estate or applying for a mortgage loan, an assessment of the house and land is required. It is problematic to carry out the procedure on your own, the result will be approximate.
When is a property appraisal required?
An appraisal of the house and plot is required to establish the market value of the property. When making a purchase and sale transaction, the procedure is carried out on a voluntary basis.
The involvement of an appraiser is provided for by law in the following cases:
- Formation of an inheritance. It is necessary to identify the cost of the dwelling so that the notary's office issues a certificate confirming the right to dispose of the property.
- Bank deposit. A credit institution does not issue money without registration of an encumbrance. This requires an expert opinion on the value of the property.
- Real estate insurance. To calculate the amount of insurance, it is necessary to obtain data on the value of the property for which the insurance policy is issued.
- Damage assessment. The size of the amount for repair work is determined.
- Registration . The amount of the state duty depends on the value of the property.
- Appraisal of the house for the court. In case of divorce or disputes between heirs, determining the value of real estate helps to resolve property disputes.
IMPORTANT! An appraisal of a residential building is carried out to calculate contributions to the authorized capital of an enterprise. Founders have the right to contribute money or transfer personal property to the ownership of the company.
Who has the right to assess the house and land
Independent specialists, persons who have a license to conduct expert activities, have the right to conduct an assessment of the house. Appraisers are members of the SRO and have an insurance policy civil liability in the amount of at least 300 thousand rubles.
Property owners choose an expert on their own, taking into account the prices for services, reputation and other parameters. However, lending institutions, when issuing a mortgage loan, send borrowers to certain appraisers.
ADVICE! SROs that cooperate with credit institutions, draw up a report in accordance with the requirements of the bank. This eliminates the risk of sending the document for revision or re-issuance.
The procedure for assessing a house with a land plot
Evaluation procedure country house consists of a number of steps. The homeowner negotiates the terms of cooperation with the appraiser, sets the deadlines for the examination. An agreement is being drawn up.
After signing the contract, the owner of the property gives the expert the documentation for the house and agrees on the date of the visit of the specialist. During the verification process, the appraiser photographs the housing, inspects the building for illegal redevelopment.
An independent assessment of the house and the site is carried out on the basis of one of the following methods:
- Analog. The essence of the examination is to compare prices for such transactions during the year. Based on the results of the analysis, the appraiser determines the value of the current object. This technique is used in large cities.
- Expensive. A feature of the methodology is the assessment of the costs incurred by the homeowner during repairs and. Cost expertise is used to set the cost of country cottages.
- Profitable. It is used to evaluate city apartments and commercial real estate. Market value is determined by evaluating the return on investment in real estate.
When examining a private house and plot, the appraiser pays attention to the following parameters:
- Location of real estate (development of infrastructure, type locality etc.).
- Condition of construction (year of construction, number of floors, area, type of building materials, state of communications).
- The presence of an encumbrance on the site and cottage.
ATTENTION! If the property being sold was purchased using borrowed money and the loan is not repaid, the owner needs to remove the encumbrance from the house and order an updated extract from the USRN.
The validity of the report for housing purchased for a mortgage is six months. If not only a house, but also a plot is bought on credit, an additional assessment of the land is required.
What documents need to be provided
To determine the value of a house, the following documentation is required:
- Duplicate of the identity card and TIN of the owner of the property.
- Cadastral passport and.
- A document confirming the ownership of the house.
When buying a home in a building under construction, an agreement with the developer is required.
Evaluation report
The real estate appraisal report is prepared in writing. The pages are numbered, the report is stapled, certified with a stamp and signature of the SRO representative. The report contains an average of thirty pages.
The document contains the following information:
- data about the expert and the customer;
- information about methods of housing appraisal;
- information about the house inspected;
- real estate market analysis;
- identification of the market value of the object.
The report for the bank when applying for a mortgage loan contains:
- housing documentation;
- photographs taken during the examination;
- the market price of the property;
- liquidation value (the amount for which the bank will be able to sell the house if the borrower fails to fulfill its obligations).
If the client of the bank independently chose the appraisal company, in addition to the report, attach:
- diploma of education in the field of assessment;
- a document confirming membership in the SRO;
- civil liability insurance policy.
ADVICE! The customer of the assessment needs to carefully study the prepared report of the expert, being in the office of the company. This will help to quickly resolve possible issues and understand the nuances.
What can the appraisal cost affect?
The report of the SRO expert affects the following lending conditions:
- the size of the amount;
- term of the loan;
- interest rate.
If the real value of the object, indicated by the appraiser, is lower than the market value, the bank does not issue the required amount. In such a situation, the borrower must:
- require a re-examination;
- conduct an appraisal in another company;
- take out a consumer loan for the missing amount.
It takes three to five days to appraise and report on real estate purchased with borrowed funds.