Why do you need a garage appraisal?
Garage valuation
is carried out in the following cases:
- Completion of a purchase and sale transaction with a garage or execution of a lease agreement;
- Decorating a garage as an inheritance. In this case, documentary evidence of the cost of the garage is necessary to perform notarial acts;
- Finding out and documenting the cost of the garage to provide an assessment report to the insurance company;
- In cases where the garage is collateral when obtaining a bank loan;
- In some cases, an assessment report is a necessary document for the demolition (liquidation) of a garage;
- In cases where the garage is the subject of legal disputes;
- In situations where it is necessary to establish the amount of damage caused to the garage.
The cost of assessing a garage, parking space, parking lot in Moscow
The cost of garage and parking space assessment services depends on the goals and objectives of the work completion period and in Moscow is at least 5,000 rubles. In the case of property assessment for the purpose of challenging its cadastral value, a positive expert opinion may be required, which is paid additionally by the customer.
Types of valuation of garages, parking spaces (parking lots)
- Estimation of the value of a garage as of the current date
This assessment is made as of the current date and, as a rule, is necessary for purchase and sale transactions, property insurance, resolving property disputes in court, lending, drawing up a marriage contract, leasing property, liquidation property. - Valuation of a parking space on a previous date
This type of valuation is a method that allows you to determine the market value of a parking space on a specific date. When entering into an inheritance, for example, the property is valued as of the date of death of the testator.
Estimation of the market value of the garage and parking space
The cost of a garage and parking space depends on many factors and indicators that are subject to careful study and analysis. To calculate their market value, experts use the following criteria:
- Condition, area of the property, material from which the object of assessment is made;
These characteristics have a significant impact on the value of the property and are studied by the appraiser through measurements and visual inspection. - Location;
The location of the property, its proximity to populated areas, transport accessibility, and the availability of access roads are assessed. - Security and utilities (heating, lighting);
Warm and well-lit garages and parking spaces that are under 24-hour security are rated much higher than properties that do not have this. - The area of the land plot on which the garage is located;
To study this criterion, the appraiser only needs a document confirming the type of right (ownership, lease, etc.) and the area of the land plot.
Documents required for assessing a garage, parking space, parking lot
- Customer data
Individuals provide the contractor with their passport data, and legal entities - information about their name, INN, OGRN, bank details and documents, confirmation of the authority of the head of the legal entity. - Technical passport
Floor plans and explication are drawn up in the technical inventory authorities and are presented only if they are available - Certificate for the object of assessment (on state registration of rights)
This document confirms the customer’s ownership of the property. In case of registration of an inheritance, it is necessary to provide a certificate of state registration of the testator's rights. - A document confirming the customer’s rights to a land plot.
Such documents may include both a lease agreement and a certificate of state registration of rights. - A document that confirms the customer’s membership in the garage construction cooperative.
All garage owners are members of the GSK, which must be confirmed by a membership book.
Stages of work to assess a garage and parking space
- Consultation with specialists;
At this stage, the purpose of the assessment is clarified, the necessary documents are requested, and the timing of the assessment of the garage, parking space, parking lot and the cost of the work are specified. - Conclusion of an agreement;
All oral agreements between the contractor and the assessment customer are recorded in the service agreement and signed by the parties. - Appraiser visit;
At this stage, the appraiser carries out a visual inspection of the garage or parking space, studies its condition, determines the presence or absence of communications and security, and takes photographs. - Preparing and issuing a garage assessment report to the customer.
After a complete analysis of the information received on the object of study, the appraiser draws up and issues an assessment report to the customer.
Deadlines for assessing a garage, parking space (parking lot)
The period for carrying out work to assess the market value of a garage and parking space ranges from 2 (two) working days from the date of provision of all necessary information. At the request of the customer, these works can be completed in a shorter time frame, for which it is necessary to place an urgent order.
Based on the above, and also taking into account the complexity of the procedure for determining the market value of a garage and parking space, it is almost impossible to carry out this work on your own. We recommend using the services of professionals with many years of experience in carrying out appraisal work.
You can familiarize yourself with materials on the valuation of other types of real estate in the corresponding section real estate valuation .
Comparative garage valuation method
The garage is valued primarily using the comparative method, that is, the expert establishes the market value of an analogue and makes a number of adjustments that significantly affect the final value displayed in the report. The analogy is made not only based on the main technical characteristics of the garage being assessed, such as area and number of floors. Since the main purpose of the garage is the storage and maintenance of vehicles, the ease of use of the assessed object for its intended purpose must be taken into account. For this purpose, various technical means and structures are used, the presence or absence of which is also taken into account during the assessment. These include various lifting mechanisms, inspection pits, racks, and a cellar.
The convenience of using a garage for its intended purpose, and, accordingly, its cost, is quite logically influenced by the availability and quality of access roads to the garage. This factor is also taken into account when assessing.
Parking by season
Interest in buying garages has increased over the past year in almost all cities with a population of 350 thousand or more, notes Anton Leskin, head of commercial real estate.
Garages are bought mainly by those who have purchased a new apartment or who have a country house. “Some people use garages to store seasonal items, since creating areas for this in the apartment is not a cheap pleasure. Not all residential complexes have storage rooms, and besides, the price of 4-6 square meters in them in large cities is often comparable to the cost of a standard garage with an area of 16-18 square meters,” says Leskin. Owners of country houses purchase garages for storing expensive gardening and construction equipment. Another category of garage buyers are investors. “We often receive requests for the selection of several adjacent garages at once, which are planned to be used in the future as a service station or car wash. There are certain difficulties with this, but it is worth the difference in price with commercial real estate in the same location,” says Leskin. It is quite profitable to rent out garages, especially near new residential complexes and not on the outskirts of the city. The average payback period for a garage is about 4-7 years.
In the near future, the demand for garages will be “fueled” by the upcoming amnesty, Leskin believes, including from those who will convert them for commercial use.
Nevertheless, the majority of Russians buy garages, first of all, to park their personal cars, according to Avito Real Estate. The most noticeable increase in demand for garages in 2021 was in Novosibirsk (by 30%) and Kaliningrad (by 26%).
Interest in garages in Kirov, Omsk, Sevastopol and Ulyanovsk increased by 18%. On average across the country, there were 9 requests for seller contacts per advertisement for a garage sale.
However, in some regions this figure was higher - for example, in Sochi, demand exceeded supply by 23 times. The most expensive garages in the country are also located in Sochi - their average cost is 1.8 million rubles. This is largely due to the specifics of the local real estate market - garages by the sea are often converted into budget apartments for tourists.
250 thousand rubles - the average price of a garage in Russia
The national average cost of a garage at the end of 2021 was 250 thousand rubles. At the same time, reinforced concrete garages cost an average of 310 thousand rubles, brick 250 thousand, metal ones - 80 thousand. In Moscow, garages rose in price by 17% over the year, in St. Petersburg by 15%. In Kaliningrad, prices increased by 11%, in Sochi, Stavropol and Perm - by 9%. 250 thousand rubles is the average price of a garage in Russia
What should you consider when valuing a garage?
Garage valuation
carried out with mandatory consideration of its location. It is no secret that the cost of absolutely identical garages with identical technical and other characteristics can vary significantly depending on their location. In practice, there are often cases when such a difference can be calculated by an order of magnitude.
The assessment takes into account the material of construction, the year in which the construction of the garage was completed and the wear and tear of the garage building itself. If partial or major repairs are necessary, the expert makes an adjustment for its cost.
Independent garage assessment
carried out upon provision by the customer of the following documents:
- Documents confirming ownership of the garage. These documents are certificates of registration of ownership or certificates issued by authorized organizations;
- Technical passport of the garage. This passport is issued by the design and inventory bureau or the technical inventory bureau;
- Data of the customer of the service - passport data for individuals, or details of the organization, if the customer of the service is a legal entity.
What documents need to be prepared?
When contacting an expert, you must provide the following set of documentation:
- title documents for the garage;
- BTI passport;
- customer identification details;
- death certificate in case of assessment for inheritance registration;
- information about encumbrances;
- certificates about the initial and residual value, about the amount of operating and maintenance expenses for the last year (for a legal entity).
Don't know where to start? Call us, we will tell you! Or leave a request, we will call you back Leave a request
Why is it necessary?
Valuing a garage is a rather complex procedure that requires experience and professionalism from the appraiser. Its specificity lies in the fact that the garage itself is located on a plot of land, the value of which is significantly higher than the value of the real estate built on it.
An independent garage assessment will be needed for:
- garage purchase and sale;
- concession or lease;
- offers as collateral for the bank;
- contributions to the founding capital;
- determining compensation for liquidation/demolition of a garage;
- division of property;
- concluding an insurance contract;
- assessment of damage caused by third parties or due to disaster;
- registration of inheritance;
- consideration of property litigation;
Goals of the procedure
A garage assessment is carried out for a specific purpose:
- sale - the value of the property is set after its assessment, based on the results obtained;
- exchange - made if you are not satisfied with the location or size of your own garage, an assessment of both objects is required before the procedure and if the cost is equal, the exchange is carried out without additional payment;
- inheritance - if the garage was inherited, then an assessment of such property must be carried out.
Cadastral value
A cadastral passport is prepared for each real estate property registered with the Rosreestr authorities and put on cadastral records.
Where the cadastral value is indicated, which is relevant for three to five years.
After this period, the cost data is reviewed and amendments are made to the passport.
If you do not have a cadastral passport, you can find out the cost of the garage:
- by ordering the corresponding extract from Rosreestr or MFC (payment of state duty will be required);
by going to the website of the Tax Service or Rosreestr and receiving reference information about the price of real estate.
If the passport data has not been updated for a long time, then the price indicated in it will not be current.
Individual building
The cadastral value of an individual garage does not affect the sales price set by the owner, but a significant difference between the two amounts will discourage those wishing to purchase a garage.
When conducting an assessment, the cadastral engineer must take into account the following factors:
- building materials from which the garage is built;
- distance from residential buildings;
- size and area of the object;
- year of construction;
- is there a road surface and its quality;
- how much does the land on which the garage is located cost?
- wear and tear of the structure;
- location relative to gas stations and service stations, transport interchanges.
The legislative framework
The valuation of real estate objects is regulated by the following regulations and laws:
- Land Code;
- Civil Code;
- Federal Law No. 135 “On Valuation Activities in the Russian Federation”, adopted on July 29, 1998.
According to Article 333.25 of the Tax Code, the assessment is carried out by a special organization or accounting authorities at the location of the object.
WHAT DO YOU NEED TO PROVIDE FOR A GARAGE VALUATION?
For individuals
- Identification document
(passport, foreign passport, military ID); - Title and/or supporting documents
(extract from the Unified State Register of Real Estate, certificate of ownership, certificate of inheritance, purchase and sale agreement, gift agreement, assignment agreement, social rental agreement for an apartment, etc.); - Documents defining the quantitative and qualitative characteristics of the assessment object
(technical passport of the BTI, cadastral extract, design permits, etc.).
Legal entities
- Details of a legal entity
; - Title and/or supporting documents
(extract from the Unified State Register of Real Estate, certificate of ownership, certificate of inheritance, purchase and sale agreement, gift agreement, assignment agreement, social rental agreement for an apartment, etc.); - Documents defining the quantitative and qualitative characteristics of the subject of assessment
(technical passport of the BTI, cadastral extract, design and permitting documentation, etc.); - A document confirming the authority of a representative of a legal entity
(power of attorney, protocol or order for appointment as a director).
If you do not have any of the documents necessary for assessing the garage, the appraiser can assist you in collecting documents.
The above documents must be sent by email: [email protected]
. If you have any questions about garage valuation, then call
8(495)662-49-41,
.
How the process works
It is customary to evaluate a garage using the comparative method. This means that during the examination, the appraiser visually inspects the garage, records all the important characteristics, and then looks at the average price of similar objects on the market. To determine the exact cost, the expert studies the demand for similar real estate in your area or area, the history of recent transactions and other points.
Based on the results of the market assessment of the garage, you receive a full report - an official document that can be used in court, presented to the insurance company, etc. The report contains all important calculations, characteristics of the object, a description of the methodology, and sometimes photographic materials.
How to estimate the value of a garage when selling?
One of the questions people have is “How to estimate the value of a garage?” It is not so difficult to do this, you can even do it yourself, but it is still recommended to involve experts for the reliability of the information and a greater likelihood of selling the garage.
In order not to sell it short, to sell it at the best possible price, and for the buyer to be able to buy at a price acceptable to him, it is necessary to know all the factors that influence the cost of the garage. This is exactly what will be discussed in the article.
What affects the valuation of a garage?
- Location is the most valuable parameter, since locating a garage in places remote from the center of a populated area significantly reduces its cost.
- The area of the building - the larger the area of the garage (where the car owner can safely leave the vehicle without inconvenience by placing it in the garage), the higher its cost.
- The size of the land plot under the building - if the garage is not located in a cooperative, where all the buildings are located close to each other, then the empty intermediate plots of land belonging to the building will play a big role, which, for example, in winter will provide convenient access to the roof, in order to clearing snow and ice.
- The presence of utilities - supplied electricity and water supply - will increase the price of this building.
- The material from which the building is made - a brick garage will obviously cost more than one made of slabs or even sheet metal.
- Access conditions - a garage located in remote places where the condition of the roads leaves much to be desired in the autumn-winter period - is valued much less.
- The presence of security is another factor that increases the cost.
