Garage and parking space assessment

What it is?

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Having correctly formulated the purpose of assessing a garage, it will be possible to determine:

• cost type;
• assessment method;
• cost of the appraisal company's services;
• deadlines for generating assessment reports, etc.

If there is a need to evaluate the garage, then you need to understand the features of the procedure on your own.

They are as follows:

• garages differ in design and characteristics;
• the cost depends on the number of floors, area, availability of communications;
• The cost is also affected by the year of construction, remaining service life, fire safety, and physical condition.

The garage is appraised by an independent appraiser.

Valuation of a garage - determining its value in order to perform any actions with it. The premises are inspected, prices are compared with similar objects, and the cost of a specific garage is established. In charge of assessments by the Bureau of Technical Inventory.

Cadastral value of the property

Cadastral valuation of a garage in 2020 - the results of the assessment activities of the cadastral officer. Its purpose is to correctly calculate the tax.

For each property there is a cadastral passport, which indicates the value of this property. This information is valid for up to 5 years. After this period, the cost is revised.

If there is no cadastral passport for the garage, then its cost can be found out as follows:

1. Order an extract about the CS from Rosreestr or the Multifunctional Center.
2. Find out the cost online on the official website of Rosreestr.

If the passport has not been updated for a long time, then the cost indicated in it is not considered current.

It will not be possible to independently calculate the cadastral value of a garage - the data will be inaccurate.

Market price

An assessment of the market value of real estate will be useful when making any transaction with a garage. For such an assessment, any of 3 methods are used.

When using the comparison method, the relationship between supply and demand for similar garages on the real estate market is examined. For example, if the average value of a property similar to a listed garage has a cap, then the garage will not be able to sell for more than that value. In this case, it is necessary to take into account various factors - location, characteristics, etc.

Based on the income method, the garage is considered as a profit-generating object. If it is rented out, the amount of rent for the year and the expenses incurred during this time are calculated.

Based on the cost method, all expenses are taken into account - for the purchase of land, renovation of a garage or its construction.

When determining the market price, it is important to take into account the size of the premises, the area of ​​the land plot, and the availability of communications.

The legislative framework

The valuation of real estate objects is regulated by the following regulations and laws:

• Land Code;
• Civil Code;
• Federal Law No. 135 “On Valuation Activities in the Russian Federation”, adopted on July 29, 1998.

According to Article 333.25 of the Tax Code, the assessment is carried out by a special organization or accounting authorities at the location of the object.

When is a garage and parking space assessment necessary?

Appraisers identify up to a dozen cases when an independent assessment is necessary:

• for object insurance;
• to obtain a loan secured by a garage;
• for sale or purchase;
• for concluding lease agreements, donations, exchanges, etc.;
• garage valuation for inheritance;
• upon liquidation/demolition of an object or seizure and transfer to municipal/city property;
• when resolving property disputes;
• when determining damage and the occurrence of insured events;
• Estimation of the cost of a garage for the court.

As practice shows, there are a lot of situations when a garage assessment is necessary. In this regard, garages and parking spaces, only recently recognized as real estate, are not inferior to apartments, houses, cottages and other types of real estate.

Advantages for the Customer:

• Professional approach. We employ certified specialists authorized by the state to conduct appraisal activities and who are members of a self-regulatory organization. Extensive experience and knowledge of the situation on the real estate market allow us to conduct a high-quality assessment.
• Results that will 100% satisfy the Customer. The garage assessment report is drawn up in full compliance with the Federal Security Service and Federal Law No. 135 “On Valuation Activities” and contains only reliable information.
• Company guarantees. The agreement concluded between the Customer and the independent assessment bureau “New Horizons” guarantees the proper implementation of all provisions. If the report on the assessment of the market value of the parking space is not accepted by the court, tax inspectorate, Rosreestr or other institution and this fact is accompanied by a written refusal, then the company will refund the costs of the assessment. It should be noted that for more than 5 years of activity, such incidents have not occurred.
• Ease of ordering an estimate. By making just one call to the numbers on the website, the Client will not only receive a free consultation, but will also be able to order a garage assessment. By telephone, the Customer can also clarify the list of documents required for the garage assessment.

Applying for an estimate of the cost of a garage / parking space is a guarantee of your profitable deals!

Federal Law “On Valuation Activities in the Russian Federation” (No. 135-FZ)

Federal Law “On State Cadastral Valuation” (No. 237-FZ) dated 07/03/2016

Federal assessment standard “General concepts of assessment, approaches to assessment and requirements for assessment” (FSO No. 1)

Federal Valuation Standard “Purpose of Valuation and Types of Value” (FSO No. 2)

Federal assessment standard “Requirements for an assessment report” (FSO No. 3)

Garage valuation

Valuation is carried out for various purposes - for court, when registering an inheritance or for the purpose of selling property. Each procedure has its own characteristics.

Find out how to legalize a garage without documents. What documents are required when purchasing a garage? See here.

For sale

To evaluate a garage for sale, you need to submit documents to the BTI. After inspecting the property and studying the documentation, an employee of the organization will issue a certificate with the market value. It can be indicated to buyers when selling.

For inheritance

The garage should have its own value. it is appointed not by the property owner, but by an appraiser. It must be carried out in accordance with the law. Usually the assessment is carried out on the day the inheritance opens. To estimate the cadastral value, you should contact the Bureau of Technical Inventory.

After collecting documents, the premises are inspected, and based on the results, its value is determined. This assessment is carried out based on the cadastral value.

When assessing a garage for inheritance, the following factors are taken into account:

• garage location - distance from transport routes, from the city;
• features - size of the room, material of manufacture, condition, etc.

The algorithm of actions is as follows:

• The room is visually inspected.
• The documents available for the garage are being studied.
• The property is being analyzed.
• The market value is calculated.
• A report is generated.

The appraiser will need to provide documents on the right to inheritance and technical certificates.

For the court

This is a study of a property by a specialist in order to provide the court with information about this property. Conducted independently, the service is paid for by the losing party. Carried out when disputes arise that relate to the garage - to challenge.

To carry out this procedure, you must perform the following steps:

1. Visit a specialist and discuss with him the price of the required work.
2. Decide on the inspection time.
3. Meet with the appraiser and sign the required papers.
4. Pay for the service and draw up an acceptance report for the assessment report and sign it.

The first step is not to evaluate the garage itself, but the land on which it is located. After this, the judge issues a conclusion indicating the value of the land plot together with the garage.

Why do you need a garage valuation?

An assessment of the cost of a garage is necessary for both the buyer and the seller (tenant and lessor), as it allows one to determine the optimal cost of the premises for the car, taking into account a wide variety of factors. When assessing a garage, of course, one takes into account its size, the presence of security on the territory, distance from the highway, material of manufacture, the presence of locks, the running of road and rail transport, the presence of a metro, etc. Self-assessment of a garage often leads to what is called an incorrect price, which, sooner or later, will “pop up” and the injured party will not like it very much. Therefore, in order to avoid leaving an unpleasant aftertaste, you need to assess the cost of the garage. How? With the help of a professional appraiser who does it not only based on documents. Only an appraiser knows exactly what is included in assessing the value of a garage, since he is a professional in his field, like each of us in ours. Moreover, the cost of assessing a garage is very low. The correct attitude to such a seemingly simple transaction as the purchase and professional appraisal of a garage guarantees the establishment of a fair value of the “home” for the car, which will satisfy the buyer and reassure the seller. Thanks to the procedure for estimating the cost of a garage, everyone is happy, especially the car, because, knowing the exact price, the buyer will quickly navigate the available offers, conclude a deal faster and get the long-awaited garage now, and not in a few years.

Methods for determining the value of real estate

The first method is an independent assessment. It will be needed under the following circumstances:

• when buying or selling a garage;
• when renting out;
• as collateral for the bank;
• upon liquidation;
• when insuring it;
• in case of disputes.

Market value is usually assessed by comparison. Prices for similar garages are studied and a cost is compiled. Usually garages are similar to each other, their characteristics do not differ much, so the price will be approximate. This is the most popular approach to estimating value.

There are other methods - profitable and costly. But they are rarely used because they do not reflect the full essence of value.

Profitable takes into account the cost of renting a garage. When calculating income for a specific rental period, the cost is calculated. with the costly method, investments are taken into account - the owner of the garage space, building materials, etc. This method does not take into account the cost of the land on which the garage is built. And its location is important when assessing the cost.

What documents are needed?

To estimate the cost of a garage, you must prepare the following documentation:

• on registration in Rosreestr;
• contract of sale;
• lease contract;
• gift agreement;
• on the right of inheritance of the garage;
• about membership in a garage cooperative (if any).

Based on the studied documents, a certificate of the value of the object is issued.

Read whether you need to pay tax when selling a garage. What documents are needed to register ownership of a garage? Information here.

How to draw up a garage rental agreement? Details in this article.