Frequently asked questions

A valuation procedure goes through three basic steps. Step 1 is delivering to the valuer all the necessary documents available regarding the object of valulation. Step 2 is inspection on the place of the object - sitevisit. Step 3 is definition of all assumptions and disclaimers concerning the assessment. Step 4 is market analysis and calculations according certain valuation methods. Step 5 is execution of the valuation report by the valuer assigned and following approval of supervisor.

It happens on convenient for both sides time when the valuer comes for sitevisit to take photos of all the premises and equipment in the site. For residential properties the sitevisit takes no more than 15 to 30 minutes and a Protocol  is signed in the end.

The valuation fee is strictly defined according to the subjects of valuation. ADVANCE applies a certain pricelist. If you want to get a personal offer, call us directly at 0800 15 088.

A valuation report is valid at the time of its execution. It is accepted if the market is not changing for the certain asset and there are no physical changes, the valuation report to be valid for 6 months. After this period a new report and new market value have to be developed. The revaluation must be done to define a new market value of the asset. It will take into consideration all the new market changes that affect the final market price of the asset and its current condition.

Each valuation report is developed to match the requirements and forms of the bank or assignor. The change of the purpose usually needs revaluation. Your personal consultant will inform you for all the types of revaluation. According to the International Valuation Standarts /IVS/ each valuation report is executed for a certain purpose and assignor. The use of a report for other purposes 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 valuation and the assignor of the valuation. The evaluation standards regulating this methodology are strictly adhered to by all expert evaluators.

Methodology according to Bulgarian Valuation Standards

Methodology according to European Valuation Standards