Assessment and determination of the market value of private houses. Basic methods on the Nedvio website

To correctly determine the price of real estate, the appraiser is required to perform calculations taking into account established standards. Any error, for example, calculating the cost based on analogues that are not related to the product market of the object, incorrect adjustment for wall material or other pricing factors will distort the final result.

To protect the customer from the consequences of overestimating or underestimating the value of property, the Law of the Russian Federation dated July 29, 1998 No. 135-FZ provides for appraiser liability insurance.

Home Valuation Aspects

Unlike the cadastral value (CV), which is determined by the mass method and serves as a single base for taxation, the market valuation of residential premises takes into account the individual characteristics of buildings.

There are no 2 identical objects. If buildings are built according to a standard design and have an identical layout, but are located in different areas, their cost may differ significantly.

Factors influencing the pricing of residential premises are conventionally divided into those that inflate the cost and underestimate it.

The assessment of the market value of a house includes the characteristics of the land plot. In this case, the factors that increase its cost include the correct shape of the site, flat terrain, size of more than 3 acres, and the presence of access roads.

The price reduction is affected by the location on a slope, proximity to groundwater, irregular shape, width less than 12 m, proximity to high-rise buildings.

Applying a cost approach

The attractiveness of the total cost method for whole objects is that it is transparent and has a straightforward calculation structure. The application of this method becomes somewhat more complicated if it is necessary to determine the partial value or price of a share in joint ownership.

Simplified, the essence of the cost approach to real estate valuation can be expressed as a formula:

Ots(rev) = Ots(earth) + Ots(sun) – A, where

• Oc(ob) – estimated value of the object;
• Ots(land) – the price of a land plot;
• Ots(vs) – replacement cost of buildings and structures: total construction costs, fixed and semi-fixed costs associated with the facility;
• A – accumulated wear and tear (depreciation).

When determining the amount of costs, it is necessary to take into account that fixed and conditionally fixed costs when assessing real estate are direct and indirect costs already incurred for the construction of this building or an equivalent one.

If the property owner himself has gone all the way from allocating land for a foundation pit to cosmetic finishing of the structure, then determining the price of the finished complex is based on the data from the construction estimate documentation.

If the property has already changed ownership and has been used for its intended purpose for some time, then the technology for assessing real estate using the cost method includes the following steps:

1. Determining the price of a land plot. Typically, the amount of rent for the planned period of ownership or the profitability from changing the direction of land use to a more efficient one is taken into account.
2. Calculation of the replacement cost of an object by determining the costs of constructing a building with the most similar characteristics, taking into account all improvements and accumulated depreciation.
3. Establishing the degree of wear. In contrast to accounting standards, appraisers focus mainly on the degree to which a building has lost its original characteristics and the costs of restoring them.

Sometimes the appraised value figure includes the amount of expected profit - a percentage of the desired income from the sale.

Commonly Accepted Housing Valuation Methods

When conducting an examination, the appraiser uses 3 methods:

The resulting final cost is reflected in the report.

Who has the right to perform an assessment?

The estimated value of a house or apartment is established on the basis of an agreement between the customer and the appraiser. The assessment is carried out by a performer who:

• completed professional training;
• passed a qualified examination;
• took out an insurance policy;
• is a member of the self-regulatory organization of appraisers (SRO).

According to Rosreestr, there are 17 SROs in the Russian Federation. Information about them is publicly available, so the customer can check the expert’s credentials by submitting a request in person, electronically or by mail.

In accordance with Federal Law No. 135, at the request of the customer, the appraiser is obliged to provide:

• education document;
• a certified statement of membership in the SRO;
• insurance policy.

These documents will allow you to verify the qualifications of the specialist and the reliability of the report he prepared.

Set of documents for the procedure

The assessment of a residential premises is carried out not only on the basis of a visual inspection. Since the specialist analyzes title documents, the customer must provide a sufficient amount of data. This is considered a package of documentation in which the use of additional information will not lead to a significant change in the characteristics of the housing.

As a rule, documents are needed to evaluate a house or apartment containing information:

• about the type of property (private, joint share) and encumbrances;
• about expected costs and income;
• about the main characteristics of the premises or the conditions under which they are achievable.

All data used in assessing property must be as accurate as possible.

The criteria for the sufficiency and reliability of documentation are discussed in the article “What is needed when evaluating an apartment.”

Documents for a room or apartment

The characteristics of an apartment and room in communal housing are usually reflected in documents, but during the inspection, the appraiser determines the general condition of the housing and its features, takes photographs and draws up a report.

The report is an integral part of the assessment and excludes assumptions on the part of the specialist about the condition of the property.

A complete list of documents and other aspects of the issue are given in the article “Assessing a room in a communal apartment.”

Package of documents for the house

Along with a private house, a land plot is also assessed, so the documents must include:

Home appraisal cost

There is no single formula for calculating the cost of services of appraisal companies; the amount is negotiated individually. As a rule, the pricing policy of assessment specialists and companies is not very different and is calculated taking into account labor costs.

The nature of the work depends on the object of appraisal, its location and the purpose of determining the RS, so only the appraiser himself will answer the question of how much it costs to appraise a house, apartment or room.

The assessment of home ownership is considered the most complex procedure, since in this case the characteristics of not only buildings, but also the site are taken into account. The specialist needs to analyze many factors:

• area, location, type of land use;
• environmental well-being of the area;
• the ability to change the basic characteristics of the site.

It is not surprising that the cost of such an assessment is significantly higher.

The nuances of calculating the cost of appraiser services are discussed in more detail in the article “Independent real estate appraisal.”

The main cases in which a home appraisal is necessary

1. Registration of inheritance rights

Houses for inheritance are assessed to calculate the notary fee, determine the amount of land tax and state duty, as well as to resolve property disputes between heirs. To do this, you will need documents on ownership, from the BTI, the customer’s passport and the encumbrances imposed on him.

In case of inheritance of a land plot adjacent to the house, an assessment of the land is also necessary. In this case, the documents you will need are a map of the site, documents on the status of the land, geodesy and documents on communications.

1. Conclusion of a purchase and sale agreement

The appraisal of the house in this case mainly occurs during preliminary negotiations. The parties can then choose an appraiser together.

It is not uncommon for a home to be appraised before being sold to third parties. Such persons may be the tax service, shareholders of the enterprise, or higher organizations. For the tax authorities, the assessment is evidence of the completeness and correctness of tax assessment.

The buyer and seller work together to find an appraiser. The cost of payment to the appraiser is immediately agreed upon and written down in the contract. The results of the appraisal have no bearing on how much a home appraisal costs.

1. Assessment for the provision of guardianship authorities

Such an assessment is carried out when the owner of the house or part of it is an incapacitated person or a minor child. In this case, no transactions can be made with the house without the permission of the board of trustees. This is necessary so that the rights of an incapacitated or minor person are not infringed.

The assessment of a house for guardianship authorities is carried out when selling, renting, dividing a house, registering a house as collateral, allocating a share in a house, as well as other operations. For the assessment, it is necessary to prepare documents for the property, the customer’s passport and technical passport. The result of the assessment is a conclusion that confirms the market value.

REFERENCE! If a house is sold without the permission of the guardianship authorities, the court will most likely invalidate the transaction, and the person who provided false information will be prosecuted.

1. Home insurance

According to the laws of the Russian Federation, an insurance contract will be considered invalid if the value of the house is higher than the market value. Then, if an insured event occurs, the amount will be partially reimbursed.

The maximum that the insurance company pays is equal to the amount of construction of a new house with the same parameters. However, the insurance amount will still not be identical to its market value. This is so because the land on which the house stands also has its own value. This gives room for different calculation options.

The way out of this situation is to insure the house without a plot, and determine the cost of insurance with the help of an appraiser. Then there should not be different interpretations.

1. Contribution of the house to the authorized capital of the company

This contributes to the granularity of participants' decision-making rights. In addition, if the contribution is properly assessed, depreciation and property tax costs are calculated correctly. It is for this reason that the cost of the house must be assessed correctly when contributing it to the authorized capital.

1. House division

Houses are divided during divorce or other disputes. As a result, it is necessary for one of the parties to renounce their rights to part of the house, and the second to pay her compensation. To determine the amount of compensation, it is necessary to evaluate the house. The appraiser will evaluate the house and land. Well, knowing this amount, you can come to an agreement between the parties.

Houses are divided upon liquidation of an enterprise, upon sale of a share, divorce, upon allocation of a share, upon exit from shared owners.

1. Getting a loan

The loan amount is generally 80% of the price of the property pledged as collateral. Because of this, a home appraisal is a requirement if it is to be used as collateral for a mortgage. However, a home appraisal for a mortgage must be carried out by a professional appraiser. Moreover, this company must be certified by the bank.

REFERENCE! The bank should not impose any specific contractor, it only offers to consider a list of certified appraisers from which you can choose.

How realtors estimate the cost of housing

A property value report is an official document. It is used when concluding a mortgage or pledge agreement, and serves as evidence in court when considering property disputes.

To conclude a contract for the purchase and sale of real estate between individuals, it is not necessary to resort to the help of an independent expert, therefore, a realtor is often entrusted with the assessment of housing before the sale. He is familiar with the situation on the real estate market and can easily determine the cost of the premises using the comparative method.

Basic methods for determining the price of objects

Each planned operation requires determining an adequate price. This allows you to optimally manage several owner resources at once:

• temporary - the search period will be significantly reduced if the price is determined at the average market level, taking into account the characteristics of the object and depreciation;
• monetary – if the approaches to real estate valuation are chosen incorrectly and the cost is inflated, then a long search for a buyer will entail an increase in the costs of maintaining unused objects and maintaining them in marketable condition;
• commercial expectations - undervalued premises will be more in demand and will quickly find a new owner, but the former owner will learn from personal experience what lost profits are.

The methodological basis for real estate valuation shares three approaches to determining the value indicator:

• costly method - based on the total amount of money spent;
• the expected return method - based on the amount of possible profit from owning or disposing of property;
• comparative approach - by searching for similar objects or similar transactions with an already known amount of completed transactions.

The first two methods in their pure form are used extremely rarely or with a small percentage of commercial success. The chances of success increase if the basic methods of assessing the market value of real estate are used based on comparison of similar indicators or already concluded contracts (purchase and sale or lease).

Self-assessment of the house

Although it is difficult to objectively evaluate your own home, in order to establish its value, you should adhere to the following sequence of actions:

1. Analyze information resources with advertisements.
2. Select 3-5 objects with similar characteristics.
3. Consider a possible discount depending on the state of the real estate market. During a crisis, bargaining can reduce the price of an object by 10-15%, and with an increase in demand, it can increase it by 0.2-3%.
4. Divide the resulting figure by the area of ​​similar apartments to get the price per 1 m2.
5. Calculate the arithmetic average and multiply it by the area of ​​your apartment.

The above method is very simplified, but by correctly selecting analogues from purchase and sale offers, the owner will quite accurately determine the cost of housing.

As an example of independent calculation, let's look at how to estimate the cost of a house with an area of ​​50 m2. Let's take into account the cost of analogues:

• No. 1 – 900,000 rubles. Taking into account the price adjustment by 2.5% with an average increase in demand, the price is 877,500, and the cost of 1 m2 is 17,550;
• No. 2 - 1,200,000 rubles, taking into account price adjustments - 1,170,000, and 1 m2 - 23,400;
• No. 3 - 700,000 rubles, taking into account price adjustments - 682,500, and 1 m2 - 13,650.

Arithmetic mean calculation of 1 m2 of analogues: 18,200 rubles. = (17550+23 400+13 650)/3. Thus, the resulting cost is 910,000 rubles = 18,200 rubles. x 50 m2.

This assessment is used if the involvement of a specialist is not economically justified or impractical.

What determines the cost of a house?

The price of real estate is influenced by 2 groups of factors – external and internal. The first includes the area, infrastructure and environment. The second includes technical condition, layout and area.

The most expensive housing on the secondary market is located in central areas that are actively developing and have convenient transport links.

With this location, the cost of apartments in new buildings and old buildings is almost the same, which cannot be said about remote, non-prestigious areas. Here, new apartments are more expensive than houses built more than 7 years ago.

How to evaluate a house with land - step-by-step instructions for beginners

To evaluate a house with land, you need to take a number of actions. Let's understand which ones and analyze their specifics.

Step 1. Select an appraisal company

First you need to choose an appraisal company. Please note that depending on the purpose of the appraisal, you may need to have the appraiser certified. This is especially true if the assessment is needed for an insurance company or bank. If the appraiser is not certified, the company will simply not accept her results.

Also consider the company's reputation. Mandatory conditions - the company is a member of the SRO and has insured its civil liability.

Read about how to choose a company wisely in the article “Appraisal Company”.

Step 2. We invite specialists to the site

Before inviting an appraiser into your home, clean it up. Clear all hard-to-reach corners of the house, such as the basement and attic, so they can be easily inspected.

Be sure to check the taps, pipes, handles and other small technical parts. They should work fine.

The final cost in the report depends on whether you carefully prepare for the arrival of a specialist.

Step 3. Determine the cost zone based on the location of the property

Its value depends on where exactly your home is located. After all, every city has prestigious areas and, for example, sleeping areas. The cost may be affected by the distance of the house from transport interchanges and infrastructure, the environmental situation in the area where the property is located, the noise level, etc.

Determine which cost zone you are in and set your own lower and upper price limits in this zone.

Read the article on related topics “Independent Construction Expertise”.

Step 4. Determine the cost of the land plot

The cost of a land plot is influenced by dozens of different factors.

Table of factors influencing the cost of land:

Step 5. Determine the cost of the main building

To do this, you need to determine the net area of ​​the home. To do this, the area of ​​the foundation is multiplied by the number of floors. Extensions, basements, garages and verandas are not taken into account in this calculation.

Then the cost per square meter of area is estimated, taking into account the summation of discounts and surcharges.

Table of reasons for a decrease or increase in the value of a home:

Step 6. Determine the cost of additional buildings on the site

You need to understand the approximate cost of these buildings themselves. We took into account their influence on the price of the house and land earlier.

To calculate the cost of additional buildings, simply determine the cost of their construction.

Step 7. Get a report on the final cost of housing

Now we determine the final cost. To do this, we sum up the cost of the house, land and additional buildings.

Legal advice will be an indispensable help in the difficult task of appraising a house. You can find a specialized specialist on the “Pravoved” website. From 16.5 thousand lawyers from all over the country, you can easily find the right one. By asking a question on the website, you will receive an answer within 15 minutes.

You can take advantage of the consultation by filling out the form on the website or ordering a call back.

Every day, site users receive more than a thousand consultations. Visitors evaluate consultations positively in 95% of cases. At the same time, the probability of an error when consulting with the help of “Lawyer” is zero.

Additional information can be found in the material “Inspection of buildings and structures.”

Inventory value

In the legislation of the Russian Federation there is a concept of inventory value. This value was calculated by BTI when preparing technical passports for objects, taking into account wear and the following characteristics:

• materials for building houses;
• apartment area;
• availability of amenities.

Before the Russian Federation Law of July 3, 2016 No. 237-FZ “On Cadastral Valuation” came into force, homeowners were interested in how to calculate the inventory value of a residential building on their own. After the adoption of changes in legislation, there is often a need to check the accuracy of the calculation of the coefficient.

Although the KS is determined without taking into account individual characteristics, it must correspond to the market price in order to be the basis for taxation when making any transactions. Therefore, in most cases there is no reason to establish an inventory value.

What is real estate valuation, and in what cases is this procedure carried out?

Almost everything in our life has its price. We live and don’t think about how much this or that thing that we already have costs. But there are completely different situations when we have to determine the value of not only the objects that surround us, but also real estate, namely a house and a plot of land that adjoins it.

To evaluate a residential building and land plot means to establish the value of this property.

The price of a house with a land plot is the sum of the cost of residential buildings, adjacent land plots, all existing buildings, including fences, gates, etc.

There can be many reasons for assessing property.

It is produced:

• To calculate the amount of tax that is levied when making a real estate purchase and sale transaction;
• To calculate the amount of payments for the Pension Fund;
• To determine the amount of state duty;
• For the bank if you are applying for a mortgage;
• To determine the amount that is part of the authorized capital;
• In the case where the house acts as collateral;
• When it is necessary to determine the amount of insurance payments for real estate;
• When a house is seized;
• In case of property disputes;
• During divorce proceedings, when all property is divided between spouses;
• If the construction of residential properties is incomplete;
• When are project investments calculated?

Depending on the purpose of the appraisal, you can set the price yourself or hire professional appraisers.

Aspects of house and land valuation

Modern cottage communities, with comfortable houses located on small plots of land, are in great demand. In this case, the assessment of the value of the house is calculated taking into account the type of permitted use and the indivisibility of the land plot on which it is built.

Taking into account the individual characteristics of this property, the appraiser takes into account a greater number of factors:

• engineering support;
• outbuildings;
• usable area;
• possibility of improvements in the future.

The procedure for performing an appraisal is similar to determining the value of other real estate. The same approaches are used: cost, income and comparative.

Apartment valuation algorithm

Depending on the goals, the nuances of housing assessment may differ. For example, when setting the cost for lending, a specialist takes into account the bank’s requirements for calculating it for urgent sales, possible risks of loss of property and covering costs with insurance payments.

When relocating dilapidated and dilapidated housing, the assessment criteria do not differ from those indicated in the previous sections, and the result is the basis for calculating compensation.

When an assessment of emergency housing is performed, the value is determined without taking into account depreciation. This means that the owner receives a determination of the cost of a technically normal apartment, the average price of which is equal to analogues of the same year of construction.

All aspects of the examination are discussed in more detail in the article “Apartment Valuation”.

How to buy a house and not go wrong on the price?

To carry out a certain real estate transaction, it is not enough just to have a desire. It is necessary that transactions meet certain requirements and parameters. A special condition in such procedures is usually the determination of the real cost of the project. Without appraising the property, you will not be able to make a profitable purchase-sale transaction.

Most Russians are confident that to determine the market indicator, the data in the technical passport is sufficient. Experience shows that this information may not be enough. At the time of the transaction, this information may be out of date.

The market for private houses depends on the situation in the country. There have already been crises, sanctions, coups or currency devaluation due to which tariffs have changed. Even if the procedure was carried out 6 months ago, and the currency collapse happened quite recently, the prices for your housing could have changed significantly and you will have to carry out such an operation again.

Market price is the cost of real estate, depending on compliance with market principles. Its assessment projects are implemented according to certain rules:

1. sellers and buyers are interested in the work being done and no one is under pressure;
2. each party has the necessary information about the market situation, so negotiations take place solely taking into account personal interests;
3. no financing terms will be offered;
4. None of the parties plans to concede in cost.