Frequently Asked Questions /FAQ/

What is the procedure of a valuation?

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.

What happens on a sitevisit?

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.

What is the price of a valuation?

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.

What is the validity of each valuation?

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

May a valuation be applicable to different institutions?

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.

What methodology is used for valuation of different type of assets?

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.

Какви документи следва да предостави клиента на оценителя?

Всяка оценка може да се нуждае от предоставяне на различен пакет от документи, но в общия случай на оценка за ипотека ще трябва да подготвите: документ за собственост /нотариален акт/, скица, кадастрална схема, разрешение за строеж, договор за наем и предварителна оценка /ако имате изготвяна преди/.