Develop-Estate will secure independent appraisal of your real estate in cooperation with certified and experienced appraisers, the field professionals.
What is real estate appraisal?
Real estate appraisal is the process of determination of the real estate market value. It is performed by the real estate appraiser. Real estate appraisal is necessary in order to determine the market price of the real estate or the compatibility of the sales price of the real estate to the market price, or, for instance, to allow the lender to ascertain the value of the pledge for the bank in order to determine the amount of the loan. Credit with the pledge of real property is called mortgage credit.
What is the procedure of real estate appraisal?
You must contact the appraiser. When applying for a mortgage credit, you will need an appraiser certified by the bank.
The appraiser studies the market trends, inspects the real estate, announces approximate market price of the property making mathematical calculations and taking into account the factors that may influence the real estate value.
The service recipient gets a certified appraisal that confirms the market price of the property at a give time.
What are the miscellaneous factors that may influence the real estate appraisal?
If documentation is missing, for instance, documents pertaining to the reconstruction of the building, property improvement and similar issues, – if this is not agreed upon, it may lead to difficulties during the appraisal of the property market value.
The unique character of the real estate located at a definite place – market demand versus offer.
Average market price of a similar real estate located at a definite place.
What documents are required in order to get the real estate appraisal?
Extract from the Land register book and other documents evidencing your real property title.
Technical documentation– building plan, copy of the property inventory files, etc.
Reference concerning your intention to use the appraisal, for instance, construction estimate, rental contracts and other similar documents.
How long is the appraisal of real estate made?
The real estate appraisal is made within 2-3 working days after inspection of the real estate, by all means specific particular characteristics of each real estate object must be taken into account, which may delay the process.