Independent real estate valuation in Krasnodar

Everything about the procedure for assessing real estate to secure a secured loan

• dismantling all partitions inside the apartment;
• demolition or partial dismantling of load-bearing walls;
• installation of a “warm floor” system powered by a centralized central heating system;
• placing a kitchen, bath or toilet above neighbors’ living rooms;
• dismantling the wall between the room and the balcony with the installation of a heating radiator powered by a centralized system;
• dismantling ventilation systems or closing fire hatches if available.

Sometimes potential borrowers have a question about why an apartment in a new building needs to be assessed for a mortgage, since the cost of the apartments is determined by the developer. The assessment of a new apartment is carried out after registration of ownership of the object in order to obtain a mortgage. The bank, as a rule, prescribes the need to provide an appraiser’s report at this stage as one of the borrower’s obligations in the loan agreement.

Why do you need a mortgage appraisal?

When issuing a mortgage for a specific value, the bank requires an independent assessment of the property being purchased.
Providing an assessment is mandatory in accordance with Federal Law No. 102-FZ “On Mortgage (Pledge of Real Estate)”. An independent appraisal report is necessary for the bank since the transaction amount often differs from the actual value of the property. In case of default by the borrower, the bank sells the collateral property. If the value of the property is higher than the market value, then the bank will incur losses upon sale.

The assessment is necessary to guarantee the fulfillment of the borrower's mortgage obligations to the bank.

The costs of the assessment are borne by the borrower. The assessment is always paid. Its cost can be equated to other overhead costs incurred during the mortgage process.

Is there a validity period for real estate appraisals and what does the appraisal agreement look like?

1. His number.
2. Conclusion date.
3. Information about all active parties. This is the full name or name of the organization, the full name of the representatives and the basis on which they act (power of attorney, company charter, minutes of the meeting, etc.).
4. Number of copies of the assessment report.
5. Information about the appraiser(s): full name, name and location of the self-regulatory organization and information about liability insurance.
6. At the end of the agreement, the addresses and bank details of the parties-legal organizations are indicated.

1. Permitting documentation for construction.
2. Project with explanations for it.
3. Extract from the Unified State Register.
4. Information about the structural system and the permitted power consumption of resources.
5. Cadastral or technical passport. It must indicate the degree of completion of construction and the built-up area.
6. If the building is conserved - an act of conservation.

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How much does a property valuation cost?

As for the cost of the assessment procedure, on average in 2020 it ranges from 2,500 to 3,500 rubles. Depending on the region where the property to be mortgaged is located, the cost may differ by 5,000–6,000 rubles. The procedure itself and the preparation of the corresponding reporting documentation takes no more than 3-4 days.

In the assessment report, the legal entity or individual providing the service must indicate:

• Data regarding the availability and size of balconies and loggias;
• The total amount of footage of the property and each of the plots;
• Information about the condition of the living space;
• Real estate height calculations;
• Information about the compliance or non-compliance of the layout of the facility with the plan located in the BTI;
• Information regarding the condition of water supply systems, heating systems, electrical networks and other things;
• The report must indicate the dates of construction and operation of the house, as well as the materials used for its construction;
• Availability of parking and number of floors of the building;
• a report on detected malfunctions, all kinds of defects present at the facility;
• Information about the general condition of the house;
• Features of the transport interchange located nearby;
• Market value per square meter;
• Data related to infrastructure;
• Directions to the property;
• Photographs taken during the assessment.

How is an apartment appraised with a mortgage?

• Market approach (a specialist analyzes completed transactions on the market, similar to the one carried out with the selected apartment);
• The cost approach, in the process of which the amount of costs for the construction of similar housing is determined;
• Income approach (the possibility of increasing the market value of the property is taken into account).

According to current legislation, an appraiser from a company or acting individually must insure activities for a period of one year, regularly pay contributions to the compensation fund of a self-regulatory organization, be its member, have a civil liability insurance policy in the amount of 300 thousand rubles or more, and not be related to for those who want to take out a mortgage.

How to choose an appraisal company

Who does the apartment appraisal for a mortgage?

? This is done by specialized appraisal companies or individual entrepreneurs. Specialists must have a specialized education, be a member of the Russian Society of Appraisers and take out a professional activity insurance policy.

The cost of appraisal reports is on average the same; you will not find significant differences in price between different appraisal firms. The main selection factor will be the presence of accreditation with the creditor bank. You cannot order an apartment appraisal for a mortgage at the first office you come across; the bank will not accept such an appraisal report. You need to select an appraiser from the list presented on the credit institution’s website or ask the mortgage manager for current addresses.

Why are banks so strict about appraisal reports? As we said earlier, issuing a mortgage loan is a big risk for the lender. A large amount and a long payment period increase the likelihood of non-repayment. An overestimated collateral value in the appraisal report will result in the bank not getting its money back when selling the property. Therefore, he must be confident in the appraiser who calculated the price of the collateral.

Of the many companies operating on the market, only a small part become permanent partners of mortgage banks. They undergo strict selection and do their work conscientiously, because it is from lenders that they receive most of their clients. Any claim against the appraiser may serve as grounds for termination of accreditation, and this is extremely unprofitable for the company. Therefore, the bank is confident that the information contained in the report is true.

What to look for when choosing an appraiser:

1. Work experience in this field. Only a qualified specialist can correctly determine the value of real estate.
2. Availability of a liability insurance policy. If the appraiser's activities are found to be erroneous, the insurance company will compensate the client for the damage.
3. Reputation. Reviews of the appraiser’s work can be easily found on the Internet.
4. Cost of services. A price tag that is too low may indicate insufficient competence of a specialist who is trying to attract clients by any means. In-demand appraisers have no shortage of work.
5. The number of banks that trust this company. If it cooperates with such market giants as Sberbank, Rosselkhozbank or VTB, most likely the quality of services is at a high level.

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Most banks give clients a list of appraisal companies whose reports they accept, so it’s difficult to fall for scammers. The client can only choose the appraiser closest to him and decide on the price of the service.

Important! The list of appraisal companies is advisory in nature.

However, if you decide to contact another company, be prepared for a long period of approval of the report with the bank. A mortgage transaction already takes a lot of time; there is simply no point in delaying it further at the expense of an unaccredited appraisal company.

Appraisal of an apartment for Sberbank, Appraisal for DeltaCredit Bank

To take out a mortgage on an apartment, you first need to contact the bank. Sberbank of the Russian Federation often becomes such a bank due to relatively low mortgage lending rates. Many years of experience in the field of appraisal services allows us to state an interesting fact - when people turn to us for an apartment appraisal for a bank, in most cases they mean an apartment appraisal for Sberbank ! Before issuing a mortgage loan, the bank will ask you to assess the market value of the apartment you want to purchase.

However, today there is a more effective option - taking out an apartment on a mortgage. The advantages of this option are obvious - for the same or even slightly less money as if you were renting an apartment, you get ownership of the apartment and pay for your own apartment. And for this you will need, to quote our clients, “a market valuation of the apartment.”

How to estimate the value of an apartment to obtain a mortgage

• For an apartment on the secondary market, these are copies of the state registration certificate of ownership of the object and the cadastral or technical passport with an explanation and floor plan.
• If the housing is still under construction, then instead of a certificate of ownership, a share participation agreement is provided. The client must also provide the appraiser with a copy of his passport.

• Any document of title: registration certificate, purchase and sale agreement or certificate of inheritance.
• Cadastral passport from the territorial BTI.
• If you purchase an apartment in a building under construction, you must provide any agreement with the developer.

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Real estate valuation agreement

The main confirmation of the fact that assessment procedures have been carried out is the contract drawn up in the form. It must be strictly in writing; there is no standard form for all occasions.

The contract is concluded for:

• several objects;
• one object;
• constant cooperation.

It must contain information about the customer, the performer of the work, the qualifications of the appraiser, and the object of assessment. The contract also stipulates the goals for clarifying the cost and provides a list of standards that were used during the assessment.

Other data:

• the time for which the cost is calculated;
• the amount of remuneration for the performer, the procedure for payment for his services;
• validity period of the apartment assessment.

If there is no information on the last point, calculations are made by default - until the next assessment or for six months.

Only the owner or his authorized representative can enter into an agreement in 2020 (an appropriate document confirming authority is required). The appraiser is allowed to work for a full-time organization or provide services privately. Availability of a certificate, certificate, or diploma of completed education is required.

Documentation

Like the validity period of the real estate valuation report, the list of documents for signing the valuation agreement is determined by law.

The list of papers includes:

1. Passport of the owner-individual or minutes from the meeting on the appointment of a manager for the organization.
2. Certificate of ownership of real estate.
3. Legal, technical documentation.
4. Passport, power of attorney of the representative.

As a document of title, you can present a deed of gift, purchase agreement, privatization and other similar papers.

Technical documentation depends on the type of real estate - different procedures apply for apartments, residential buildings, commercial real estate, and land plots.

Valuation of real estate for a mortgage and how much it costs

True, value judgments are made taking into account the determination of correction factors. They are calculated based on the difference between various significant indicators of housing: the newness of the house, the size of the living space, the quality of finishing, the distance of the building from significant urban infrastructure, etc. This method is also called the market method.

Based on the value at which the apartment will be assessed, the bank will determine the size of the loan to be issued. If the appraised value is equal to or slightly higher than the price set by the seller, then the mortgage loan will cover all costs of purchasing a new home. But there are often cases when the appraised value is lower than the amount needed to purchase an apartment and, accordingly, the bank cannot provide a loan for an amount in excess of that indicated in the appraisal company’s report. What to do in this case?

What is a real estate appraisal and why is it needed?

Valuation of real estate for a mortgage in Sberbank - a procedure for determining the liquidity of the purchased property with the help of an independent expert.
According to the Federal Law “On Mortgage”, when applying for a housing loan, the borrower is obliged to provide an existing apartment or purchased housing as collateral. Due to the fact that the bank is considered the mortgagee, it requires the payer to carry out assessment activities. The lender sets the maximum loan size based on the liquid and market value of the premises. This is how the bank insures itself against non-payment of the mortgage loan by the borrower, gaining the opportunity to sell the property and cover costs.

The client himself also needs an assessment of the apartment; thanks to it, the adequacy of the cost of housing is determined. Also, the borrower turns to an independent appraiser so that, being in a difficult financial situation, he can independently sell the apartment at the market price to pay off the debt.

Housing appraisals for mortgages are carried out by accredited organizations approved by Sberbank. However, he also cooperates with private companies, but on the condition that all requirements and conditions of the procedure are met.

To obtain a mortgage loan secured by real estate, you must present a final report with photographs, graphs and conclusions on the property being inspected. According to Sberbank’s terms, real estate valuation for a mortgage is paid for with the borrower’s funds.

What is the job of real estate mortgage appraisers?

The real estate property is assessed only by professional experts, with the proper level of accreditation and a full package of permits.

First of all, the employee collects the necessary information that relates directly to a specific property: year of construction, material of manufacture, degree of wear, number of redevelopments, geographical location, technical equipment, etc. Summarizing the data received, he conducts a detailed analysis and makes an assessment, drawing up a report that includes photographs of the property, graphs, diagrams and detailed conclusions.

The study of a mortgaged apartment can be carried out by an accredited company from Sberbank or an independent expert.

Factors influencing a positive bank decision

When the borrower goes through the housing assessment stage, there are a number of nuances that influence the bank’s positive decision when accepting the final report and determining the final loan amount:

1. The estimated (liquid) value of the apartment must be equal to or exceed the amount of the mortgage loan. Then the bank will approve the loan.
2. A written agreement should be concluded with the appraiser. This is required by law and, in addition, the client will be sure that in case of poor quality work, the appraiser will be obliged to correct the defects.
3. Photographs of the apartment, as well as the entrance and staircase, must be of high quality and clear. Therefore, the appraiser should work during daylight hours.
4. The report must state and reflect the purpose of the property assessment. That is, the examination is carried out specifically to evaluate the apartment as a collateral.

Why do you need an apartment appraisal for a mortgage?

1. The applicant contacts the bank, and after approval of the mortgage loan, searches for a property - independently or through intermediaries.
2. Information about the apartment is submitted to the credit manager for review.
3. Next, an assessment is carried out with the help of the selected organization.

1. They study the technical and title documentation for the apartment.
2. An analysis of the market value of housing with similar parameters is carried out.
3. Examine the technical condition of the property; take photos and videos of her. Information about all work can be recorded in an intermediate protocol.
4. They are working on drawing up a report, with the signatures of those responsible for the work, and the seal of the organization.

The cost of appraising an apartment

The cost of appraising an apartment for a mortgage depends on the following factors:

• region where the property is located;
• area, number of rooms;
• experience and professionalism of the appraiser.

The average cost of an assessment report in Russia is 2500 - 4000 rubles. However, if we are talking about evaluating a large apartment or outside the city, the price may increase. Please note that in case of cancellation of the transaction, expenses incurred are not reimbursed, even if the refusal was made by the bank.

Important! If necessary, the client can obtain a copy of the assessment report. As a rule, it is issued free of charge, but in some companies the price tag is 500 - 1000 rubles.

Who pays for the appraisal of an apartment with a mortgage?

Seller or buyer - by agreement. As a rule, the costs are borne by the mortgage borrower, because the preparation of the report is in his interests. In some cases, the cost of the appraisal is included in the commission of the realtor involved in the selection of real estate. Both parties to the transaction and their representatives can order an assessment report.

Real estate valuation for mortgage in Sberbank

It is very important to take into account the time factor - how long the appraisal of an apartment for a mortgage in Sberbank is valid. According to legislative norms, the appraiser's report has legal force for 6 months from the date of its signing. After the specified period, a new examination is required.

When applying for a home loan, borrowers are faced with one mandatory requirement from the bank. This is a home appraisal with a mortgage. Sberbank, like all other credit organizations, requires the applicant to carry out a similar procedure. What is it for? Firstly, based on the report and the obtained characteristics of the property, a calculation is made of the funds allocated to the client for its purchase. Secondly, the real cost and liquidity of the housing pledged will be the basis for compensation for future costs. In fact, this is the bank’s insurance in case the borrower fails to fulfill loan obligations and repays the debt on time. And thirdly, sellers often inflate the real cost of housing. And the borrower may simply not have enough borrowed funds for the purchase, since the lender will only issue the amount that corresponds to the liquid value of the property. For this reason, the bank requires monitoring before completing a purchase and sale transaction.

Property Valuation Report

Advice from lawyers:

1. How long is a real estate appraisal report valid?

1.1. Good evening! There is little information about what you need it for. And as a rule, an assessment report is made on a specific date. With respect to you, Evgeniy Pavlovich Filatov.

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1.2. The law does not provide for such a period. However, constantly changing legislation may make it invalid. Therefore, order the report immediately before submitting it,

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2. Whether the real estate appraisal report is an attachment to the mortgage.

2.1. Hello. All documents must be provided by Federal Law No. 122

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3. Where can I get a certificate-report on the valuation of a property.

3.1. Hello Dmitry. An appraisal firm can evaluate a property; there are quite a few of them in the city.

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4. Such a question, a year ago I sold my dacha to people with a mortgage, the buyers were involved in the transaction, they also prepared an appraisal report for the bank, I didn’t even see it, now they say that the price was too high and the property does not correspond to what was in the appraisal report , and are going to go to the prosecutor's office. What to do? I don’t even know what kind of report there is and what it was all for? 'Based on materials from the legal social network www.9111.ru ©'

4.1. You have nothing to worry about; in Russia the principle of freedom of contract, established by Art. 431 of the Civil Code of the Russian Federation, therefore, even if the price is clearly inflated (different from the market price) and they agreed with it, then there is no reason to challenge the transaction, much less accuse you of fraud. Sincerely, lawyer – Stepanov Vadim Igorevich.

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4.2. Let them go. There is no element of fraud in your actions.

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5. Where can I find a methodology for assessing real estate (apartments in Crimea) (input data on compliance with the report dated 08/23/02 and 08/23/03) I can’t find links or other information about these reports anywhere?

5.1. Where can I find a methodology for assessing real estate (apartments in Crimea) (input data on compliance with the report dated 08/23/02 and 08/23/03) I can’t find links or other information about these reports anywhere? This is a question for appraisers. There are several assessment methods. Typically, any report contains the application of these methods to the object being assessed.

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6. Why does the mortgage agreement indicate that, as a means of ensuring timely and full fulfillment of obligations under the agreement, the borrower provides the lender with collateral for the property before issuing the loan? (everything is clear here, but further), and the collateral value of the Real Estate is set at 90% of its value in the assessment report?.. Why 90%?

6.1. Hello Valery. Why exactly 90%, ask the bank. He could have put a different percentage, but he wanted to indicate it that way. And you, by signing the agreement, agreed to this.

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6.2. A contract is only a contract because its terms are negotiable. Why, because it’s profitable for the bank, and it’s easier to sell the mortgaged property.

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6.3. Good afternoon. I believe that the bank employees did this in anticipation of a possible drop in real estate prices. Just in case, so as not to burn out.

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7. Is it legal for Sberbank to provide a real estate (apartment) assessment report and insurance for the property when providing a housing mortgage loan? This is stated in the loan agreement.

7.1. Good afternoon, Tatyana! In this case, Sberbank dictates the terms, alas! Therefore, if these conditions do not suit you, contact another bank. But there may be higher percentages. Think, decide.

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7.2. Good afternoon. The demand is legal. If you do not agree with the requirement, contact another bank with a similar request or try to get a loan that is not related to the property mortgage)

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7.3. Hello! Requirements for market valuation of real estate are legal, since the collateral of real estate must be valued.

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8. How to correctly conclude a real estate valuation agreement, what are the rights and obligations of the customer of the valuation, what is the contract and the valuation report, how is the valuation carried out in court proceedings, features of damage assessment, what are his rights and obligations?

8.1. what are the rights and obligations of the customer of the assessment? Basic rights of the customer: The right to order an assessment. The duty is to pay it.

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8.2. All this is set out in the Federal Law of July 29, 1998 N 135-FZ “On Valuation Activities in the Russian Federation”. the text can be found in any legal Internet resource. Good luck RUSSIAN FEDERATION FEDERAL LAW ON VALUATION ACTIVITIES IN THE RUSSIAN FEDERATION.

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8.3. Hello, Natalia. Provide all necessary documents and pay for the assessment. If you need help resolving your issue, please contact me, I will be happy to help you.

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9. The question concerns the cadastral valuation of real estate. What date is the date of approval of the cadastral value of the property? Date of the appraisal report? Or is it the date of some other document? Where can I see the deadlines for approval of the cadastral value of real estate and land plots by region of Russia? To do this, you need to download each report on the Rosreestr website, which weighs 3 gigabytes. Is it possible to watch this somewhere in a more convenient way?

9.1. There is no other way to find information.

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10. Please explain whether there is a fee for conducting an examination of a real estate valuation report conducted in the same SRO of which the appraiser is a member.

10.1. — Hello, you need to look at the local regulations of your expert bureau. It is not a fact that a member of an SRO has such a right. Best wishes.

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11. If the judge helps one of the parties during the court hearing, suggests what to do and openly accepts the position of one of the parties, accepts into the case evidence that is not related to the judicial claims (a report on the assessment of real estate for a period not included in the terms specified in the claim was accepted ) what does she violate? I am writing a private complaint against the ruling, which paragraphs. or should I point out the articles?

11.1. You can challenge the judge, citing her bias and interest in the outcome of the case.

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12. Please help me determine whether the apartment is primary or secondary. The apartment was purchased with a mortgage and was purchased from a legal entity under a purchase and sale agreement. faces. Legal the entity is a real estate mutual fund. There is no real estate valuation report, perhaps the bank (Sberbank) has it, and it is also possible that the developer is a partner of the bank. Legal a person (mutual fund) registered an apartment in Rosreestr, about which there is a registration record under No. *** and a certificate of state registration. registration of the right to this Legal entity. face.

12.1. If the apartment did not have individual owners. persons, then this is the primary.

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13. What tax must a non-resident of the Republic of Kazakhstan pay on the sale of real estate received as an inheritance if the sale amount is less than the amount indicated in the assessment report upon entering into inheritance rights?

13.1. Hello! Income must be counted provided that at the time of sale, ownership of the apartment from the date of inheritance is less than a year old. If, before March 31 of the following year after the sale, the heir-seller has a report on the appraisal carried out under an agreement between him and the appraiser in accordance with the legislation of the Republic of Kazakhstan on appraisal activities, then the positive difference between the sale price of the apartment and the appraised value specified in this report.

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14. Must the seller provide a real estate appraisal report under a real estate purchase and sale agreement?

14.1. For what purpose do you need it? In a sales contract, both parties agree on the price of the property, and if they are happy with it, it is signed by both parties.

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15. I am collecting documents for the Mortgage loan “Purchase of finished housing.” At the stage of providing a Report on the assessment of the value of the Real Estate by an independent appraiser. So, in this report the “Market price is 1450 rubles” and the “Liquidation price is 1230 rubles.” . Tell me, how much Targeted Loan Funds from Sberbank of Russia will I be approved for? The cost of the Object under the Agreement is 1450 rubles. Thank you!

15.1. Dear Elena Viktorovna. As far as I understand, you will be provided with only one targeted loan.

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16. Can an appraiser (who compiled a report on the assessment of a property) act as a guarantor for a mortgage loan, where the OH report he made is presented. In case of refusal, justify it with articles of legislation. Thank you.

16.1. Anyone can, whom the bank deems solvent.

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17. A new real estate valuation report is attached to the case. Property prices have increased over the past year. What data, from what sources, official, maybe published, can be presented to the court, which will be accepted and taken into account by the court? Thank you in advance, Elena.

17.1. Any sources, and everything that is received legally is accepted. With garlic.

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17.2. Dear Elena, Ufa! During the trial, I recommend that you file a motion to conduct an “Appraisal Examination”, because First of all, it is its results that will serve as the basis for the court's decision! I wish you good luck Vladimir Nikolaevich Ufa 08/09/2012 07:39 Moscow time.

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