Real Estate Valuation
WHAT IS REAL ESTATE VALUATION?
A real estate valuation is a valuer’s opinion on value at a certain date which is in accordance with the applicable standards, for a given purpose of valuation and taking into account the individual characteristics of the subject property.
TYPES OF REAL ESTATE VALUED BY ADVANCE
Advance values the full range of real estate properties:
- Residential properties: apartments, houses, floor of a house, country houses /villas/, residential buildings and adjoining parking, garage, or a parking spot with additional value
- Retail properties: independent shops or part of a shopping center, shopping centres, restaurants, service centers, commercial buildings / complexes
- Offices: separate offices and office/administrative buildings
- Industrial properties: enterprises, warehouses, agricultural sites, permanently attached production and infrastructure facilities
- Tourist sites: hotels, motels, guest houses; museums, churches, etc.
- Energy properties: petrol stations, gas stations, hydro power plants, photovoltaic power stations, wind power plants, steam power plants, etc.
- Communal properties: sports fields and facilities, hospitals, schools, public transport properties
- Mixed-use properties
- Government/Municipal properties
PRICES OF VALUATION SERVICES
Prices are based on the type and quantity of the properties valued. In the meanwhile the basic pricelist can be found here.
Documents required for real estate valuation:
- Title deed
- Sketch of the property issued by the municipality where the property is located
- Architectural designs, construction documents
- Rental income and expenditure
- Others – depending on the assets’ features
TIME TERMS FOR EXECUTION OF REAL ESTATE VALUATION
Standard deadline for conducting a valuation:
- Land in/out of regulation: 3 days
- Apartment: 3 days
- 1-storey house with adjoining land: 3 days
- Retail property /up to 100 sq.m./ - 3 days
- Office /up to 200 sq.m./: 3 days
- Warehouse with land /up to 300 sq.m./: 3-5 days.
Depending on the complexity and purpose of the valuation, the above-mentioned deadlines are subject to change.