The Process Of Assessing Property

The evaluation process – a sequence of actions performed in the course of determining the cost. The evaluation process typically consists of 8 stages. Formulation of the problem. Pa during formulation of the problem:-identified and described in detail estimated object;-established goal of the assessment;-establish the form of assessed value (market, investment or otherwise) to be determined during the evaluation, set-date assessment. Identifying the estimated object, we should first define and writing fix its location, status and physical composition. Purpose of the evaluation – is the use of conclusions about the assessed value.

It predetermines the form appraised value, which must be determined, the nature of the data, principles, opinions and attitudes that guide. Therefore, the unambiguous definition and fixation of the purpose of evaluation is carried out on the stage of the problem. Kind of the appraised value fixed by the problem statement must match the purpose of the assessment and determined in accordance with legislative standards and generally accepted rules of valuation activities. For example, for the taxation of real estate, owned by individuals is determined by the inventory value, for a decision on the transaction, in which there is an interest – market value of the property. Work plan. At this stage, are determined: schedule evaluation; Sources and methods of gathering information; the costs of collecting and processing information; valuation methodologies, corresponding to the purpose of evaluation and chosen form the estimated value; fee appraiser. The information required to assess, may be obtained from periodicals and other literature on real estate markets in specialized social (demographic, religious, cultural, etc.), legal, political and other factors affecting the cost of the estimated object.

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