Property Assessment Process

preparation programs for calculating the market value of real estate property assessment, coordination costs, design of the evaluation report of the property. Formulation of the problem of evaluation is to determine: the goals estimates the cost of the required form, the identification of the property and legal rights to it, the valuation date, currency valuation price, in which the estimate. To collect and verify information on the object being evaluated Appraiser uses two types of information: the documented (leases, utilities, inventory card records, documents confirming the right to property). obtained by an expert ( information on the rate of business profits, the percentage discount on listing sales, etc.) The Plan estimates includes the following components: determination of requirements for object evaluation methodology to assess identification, assessment investment of time and effort, the view on the conditions and cost of job evaluation services and verification of information collected includes: a survey of the property and making an act of inspection, and in case of necessary punch list, the study area location, site and adjacent areas, and legal instruments defining the rights to the property, project analysis and estimates, and in lack of a plan of the object and the site plan, the collection and analysis of economic indicators for property (book value of lease payments, maintenance costs of the property, etc.), search Object-analogues on the market. Programming calculate the market value of the property provides for a package of programs in the spreadsheet for calculating the cost of the basic elements real estate. Assessment of the property may be conducted using standard methods or derived from these methods, using combinations and modifications in accordance with the standards of real estate valuation and the presence of necessary information on the real estate market of Belarus. To read more click here: Robert J. Shiller. The standard methods of evaluation are: cost approach, sales comparison method, income capitalization method. Derivative methods are such as method equipment balance, the method of cities, the method of the investment group, the method of classification, the gross multiplier method, adapted method of capitalization, and others.

When you evaluate an appraiser on the instructions of the customer can justify the alternative use of property, ensuring the most productive use of it. Procedure for the identification and validation of alternative use of the property, providing maximally productive use real estate analysis is the best and most efficient use. The best and most efficient use – it's probably a reasonable and lawful use vacant land or improved property, which is physically possible, legally justified and financially feasible and leads to the highest value. Analysis of highest and best use is performed for the land: as free;