According to the definition of the “Appraisal Institute”, an institute of valuation professionals recognized worldwide, the appraisers are professionals who study the tangible value of real estate in addition to the corresponding property rights.
What is the advantage of hiring an appraisal expert? Being advised by a professional who has been in constant training to be updated with legal and commercial concepts, this helps both buyers and sellers to be sure that the values set to real estate are as appropriate as possible, according with the situation in which they are.
What are the purposes of an appraisal? There are several, however, then a small list:
- Buying and selling: To help sellers to set the sale price in accordance with what the market and characteristics of the property indicate and to potential buyers to set the price of their offers
- Real estate investment advice: To investigate the market in which you plan to make a real estate investment and in this way determine the rental conditions in the area.
- Financing and credit: To calculate the value of a real estate that will be offered as a mortgage guarantee before a financial institution. In these specific cases, it is the banks that directly coordinate the hiring of valuation professionals.
- Litigation: To determine economic damages to a property that will be expropriated or through which an easement will be passed. Also to determine the value of a property in a succession process.
- Tax issues: To set the value of the property under which the collection of taxes by local governments will be made.
It will be an honor for us to support you in making the right decision. Please do not hesitate to contact us to advise you.