PROPERTY VALUERS : HOW TO REDUCE THE VALUE OF REAL ESTATE

Property Valuers a unified database of valuation reports has been launched, which makes it possible to evaluate real estate independently, free of charge, without recourse to special organizations or certified appraisers. It is enough to enter the specific characteristics of the apartment, plot or house for sale into the system, and in a matter of seconds it gives out its cost. 

However, using this assessment option, many do not even know about the pitfalls that they will have to face. Firstly, such a certificate is valid for only 30 days, and in such a short period it is far from always possible to sell real estate, while the valuation report is valid for 6 months from the date of its preparation. Secondly, to independently obtain a certificate in the database, you must have the EDS key (single digital signature), which not all citizens of the country have. And thirdly, and here lies an important factor, the automatic evaluation system is far from always able to adequately evaluate real estate. For example, three-room apartments with similar characteristics in the center of Poltava and in the center of Kharkov can be priced virtually the same, although, as we understand, a three-room apartment in Kharkov will cost more than in Poltava, and such a price will not correspond to the real market. At the same time, this certificate of the value of the object can be used in the transaction, taking into account the fact that taxes will have to be paid from it.

PROPERTY VALUERS

If this prospect does not suit the seller, then the best option would be to contact the appraiser directly. According to the law, the owner of the alienated real estate can apply to the appraiser if the calculated value by the system does not represent the market or it is inconvenient for him to independently obtain a certificate of value. The appraiser, in turn, can adjust the value that the system showed within 20%, bringing it to an indicator of the real market price. If the result of the evaluator differs from the automatic system by more than 20%, the evaluator’s evaluation will not be recognized. And then the seller will have to agree with what is, or ask the appraiser to submit an application for reviewing the report to the SPFU (State Property Fund of Ukraine). The procedure for considering applications is lengthy and no one guarantees a satisfactory result.

Doing an assessment yourself or contacting an expert is an individual choice for everyone. But if you do not want to face the problems described above, use the services of an appraiser.

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