Evaluation of the cost of apartments
Apartment appraisal means determining market value of the apartment. Today appraisal services are common and affordable. Expert appraisal is required for apartment sale or any other property transactions. What is the purpose of independent expert appraisal of the apartment?
Independent expert appraisal of residential property in Odessa is required in the following cases:
- sale, deed of exchange or deed of gift
- re-registration of title to property after the owner’s death (succession)
- insurance services
- division of property in case of divorce or other court disputes
- property mortgage, etc.
How to determine market value or price of property?
According to the laws of Ukraine apartment appraisal means calculation of market value of the apartment (for notaries). According to the Decree of the Cabinet of Ministers of Ukraine No. 358 of August 21, 2014, estimated value for the purpose of assessing and paying taxes and other statutory charges provided for by the law shall be market value. Market value can be calculated based on national standards and other laws and regulations on valuation of property and property rights.
Market value is a price any property can be sold at on the market of comparable property as of the appraisal date, by way of an agreement between a buyer and a seller certified in a notary’s office.
Calculation of market value of real property depends directly on the following factors:
- distance from basic infrastructure facilities
- condition of the building
- floor, etc.
Apartment appraisal: stages
How to determine property value? One would need to go through the following stages:
- collection of necessary data;
- study of the specific market segment and comparable property
- value calculation
- matching results.
Upon completion of works the customer is provided with an appraisal report, which is a document specifying description of work, source data, study of source data, conclusions and estimated price of property. This document is important for a notary, since it is a basis for determining property price and calculating fees and charges.
List of documents required for residential property appraisal:
- documents of title to an apartment (certificate of title, sale and purchase agreement, deed of gift, etc.);
- technical data sheet issued by the BTI;
- copies of the customer’s passport and TIN certificate.
Independent appraisal of apartments in Odessa
Are you planning to buy property, but don’t know its value? Or do you need appraisal services to determine sales-related statutory charges? Feel free to contact New BTI experts. We will help you to calculate market value of the property required by a notary and more.
New BTI experts carry out apartment appraisal in Odessa on a regular basis.
Timeframe: On a case-by-case basis.
Deliverables: Expert appraisal report.
Please call (048)777-11-11 for service booking and inquiries.
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Transfer to the Non-residential/Residential Category