Very often, people have to resort to such a service as property valuation. It may be necessary in various situations: concluding transactions, lending, a contribution to the business in the form of any property, etc. Most often, it is necessary to determine the market value of the property, but do not think that this is the only type of value.
Any property can be assessed by many types of methods, and the result can differ quite substantially. So, when evaluating an apartment, you can use the standard method – comparative. At the same time, a search is made for similar facilities with the same area, number of rooms, quality of repairs, age, location, etc. After that, the expert, using a set of tools and formulas, derives the market value.
There is also the concept of replacement cost. It involves calculating the amount of costs that will have to be incurred in order to create or buy a property of similar characteristics that can be an adequate replacement for the former. Often, this approach is used in damage to human property. At the same time, the sum of costs for the replacement and repair of the object is compared and, if the first is less than the second, the court will take this into account. If there are no additional factors, it is possible to award the replacement of property, and not its repair.
The cost of restoration involves determining the size of the cost of purchasing an identical object or creating it. There is also the concept of residual value of restoration (replacement). It denotes the amount that is necessary to restore or replace the object, taking into account all types of depreciation of the property.
Liquidation value is determined in real estate valuation, and is calculated in situations where the company ceases to operate as a result of bankruptcy, collapse into subsidiaries, etc. The difference from market value is that the exposure period of the property during the sale is much less, that is, there is a need to sell it for a short time. Naturally, this cannot affect the final value of the property – it significantly decreases.
The term “net realizable value” means the amount that can be obtained from the sale of property, after deducting all expenses and taxes, including value added.
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For a high-quality and most accurate assessment of the property, please contact our company, Petro sky Fort. We are evaluating apartments and other real estate, transportation, equipment, business and damage caused by someone else’s property. Our company employs highly qualified, competent, experienced specialists who perform their work in accordance with the established norms and laws of the Russian Federation. The terms of property valuation are as short as possible, which, however, does not affect the accuracy of valuation. The estimated duration of work on different types of objects can be found on the website.
Types of property:
Many people have come across such a thing as property valuation. This is a way of representing an object in monetary terms. The assessment is performed in relation to real estate, land, cars, and other property. Usually such activities are carried out by government agencies and private companies. The place of request for evaluation is determined depending on what property you need to evaluate. If you need to evaluate the apartment, you can contact the BTI or a private company that deals specifically with the valuation activity in respect of real estate. If the movable property is represented by a car, then an assessment is made here, either at the Ministry of Justice or at a private office.
Circulation and in an orderly manner by the legislation of the Russian Federation. In other words, this is the property to which the rights and obligations of participants in civil relations are directed. Objects of property can be divided into several groups:
Directly property (real estate, cars, other values).
- Certain actions (work or services).
- The results of creativity or intellectual activity.
- The benefits of intangible nature.
- What is property valuation for?
Property valuation is necessary in a number of situations. For example, you will need to evaluate the property when you make a mortgage or consumer loan. In such cases, immovable and movable property will be used for the pledge, and, based on the estimated value, the amount received in the bank will be calculated. Also, the valuation of property objects will be necessary at registration of the inheritance, since it is the cost of inherited property that determines the amount of state duty that the heir pays to the notary.
If the car is in an emergency situation, an independent damage assessment will be required, which will be used in the future to calculate the amount of compensation for the insured event. Also, a vehicle is evaluated for a court, in the event that decisions are made regarding challenging the claims of participants in the accident.