Property valuation appraisal is the process of determining the value of a particular property domestic structure, apartment, garage, land,etc.
Real estate valuation is necessary in cases of trade or exchange of real estate, for enrollment of mortgages, in the presence of action, for collateral and other purposes, for illustration, real estate valuation is frequently needed in case of divorce and division of property.
Real estate appraisal is regulated by the law” On appraisal conditioning in the Russian Federation”, other laws, as well as appraisal norms.
The main types of value that are determined in the process of real estate appraisal are
• The request value of a property is the price at which a property can be vended on the request.
The reviewer determines the request value on a specific date grounded on request conditions selects analogous objects and calculates the average request price.
When calculating the request value, individual characteristics of a particular property are taken into account( wall material, homestretches, dispatches, position,etc.).
This value is the most accurate, and thus, in the event of a action, the court takes into account exactly the request value calculated by the reviewer.
request value has also been extensively used in real estate deals.
• The cadastral value of a real estate object is the value of a real estate object, which is determined as a result of the state cadastral valuation by mass styles, and if this isn’t possible, collectively for each property.
At the moment, the cadastral value is calculated by state pundits specialized popular institutions that are created by the indigenous authorities. It should be noted that until lately, independent divisions were involved in the computation of the cadastral value real estate, valuation, etc. still, there were big complaints about the methodology used by them, and this practice was discontinued.
The computation of the cadastral value is carried out in agreement with the conditions of the law” On State Cadastral Valuation” and methodological guidelines especially developed by the state.
This value is as close as possible to the request value, the results of its computation are approved by the nonsupervisory act of the administrative authority of the region and are entered into the Unified State Real Estate Cadastre( EGRN).
In this connection, the information on the cadastral value contained in the USRN is sanctioned and is used to calculate levies, state duties, forfeitures and other purposes specified in the law.
• The investment value of a property is the price at which you can buy real estate for profit.
Most frequently, it’s used to estimate the effectiveness of real estate deals The salvage value of a property is the price at which a property can be snappily vended.
When determining this type of value, the reviewer takes into account the impact of extraordinary circumstances that forced the dealer to vend the object on conditions that don’t correspond to request conditions.
The liquidation value is most frequently used when a company is reorganized or declared void.
Real estate appraisal is included in the field of professional exertion of independent pundits-private appraisal companies or individual entrepreneurs.
By law, an reviewer must be a member of one of the tone-nonsupervisory associations of pundits( SROO), ensure his conditioning and give services only in those areas that are indicated in his qualification instrument.
The cost of real estate appraisal services depends on the region and the specific reviewer. thus, it’s better to specify the price of real estate valuation on the website of the named contractor.
A real property valuation requires that in the process of its perpetration, the reviewer take into account all the factors that may affect the computation of the value of the object.