Frequently Asked Questions /FAQ/

A valuation procedure goes through several main stages. Stage 1 is delivering to the valuer all the necessary documents available regarding the subject of valuation. Stage 2 is an inspection of the site. Stage 3 is definition of all assumptions and disclaimers concerning the valuation. Stage 4 involves performing market analysis and calculations according to certain valuation methods in order to come to an indication of value. Stage 5 is execution of the valuation report by the valuer assigned and following approval by supervisor.

After a preliminary appointment for a convenient time, an appraiser comes to the site and makes a survey of all premises, available equipment and facilities, common areas and exterior of the building. For residential properties, the inspection lasts between 15 and 30 minutes and ends with the signing of a Protocol for inspection.

The valuation fee is determined depending on the type of the subject asset. ADVANCE applies a standardized pricelist of services provided. If you want to get a personal offer, call us directly at 0800 15 088.

The value is valid as of the date of its execution. It is accepted if the market is not changing for thegiven asset and there are no physical changes, the valuation report to be valid for 6 months. After this period a new valuation and new market value have to be developed. The revaluation will take into account all changes in the market that affect the value of the subject asset, as well as its current condition

Each valuation report is prepared according to its purpose for a specific bank or other purpose and follows a certain format and requirements. The change of the purpose usually needs revaluation. Depending on the purposes and applicability of the valuation, your personal consultant will inform you for all the types of revaluation. According to the International Valuation Standards /IVS/ each valuation is executed for a certain purpose and at a given date. The use of a report for other purposes or users is accepted only with the approval of the valuer.

Different methods are used in the preparation of expert valuations for different types of assets, depending on the purpose and the assignor of the valuation. The valuation standards regulating this methodology are strictly adhered to by all expert valuers.

Each valuation may require a different package of documents to be provided, but in general for a mortgage valuation you will need to prepare: title deed /notarial deed/, sketch, cadastral scheme, building permit, lease agreement and preliminary valuation /if you have prepared before/.