Is there a validity period for a real estate appraisal and what does the appraisal agreement look like? Independent assessment: validity period and opportunity to save. Independent appraiser's report validity period.

As Maxim Lyashok, General Director of the Expert Appraisal Company Sistema, notes, in the process of using the results of the appraiser’s work, which are the property valuation report and the conclusion on the value of the property itself - as an integral part of such a report, with customers or other interested parties (notaries, lawyers , lawyers, registrars, auditors, accountants, etc.) the following question often arises: What is the validity period of the assessment report? Or in other words: is the report that the customer has available valid, taking into account the date indicated in the existing report?

In order to understand this issue, let us specify some concepts.

Date of assessment. In accordance with clause 3 of the National Standard No. 1 “General principles for the valuation of property and property rights”, approved by the resolution of the Cabinet of Ministers of Ukraine dated September 10, 2003. No. 1440, the valuation date is the date (day, month and year) on which the property is assessed and its value is determined. All calculations when determining the value of property are carried out taking into account market conditions on this particular date (prices, exchange rates, inflation rates, legal requirements, etc.). This date is necessarily indicated in the appraisal agreement as its obligatory condition (along with, for example, such obligatory terms of the agreement as the type of value being determined and the purpose of the appraisal) and does not even always coincide with the date of the agreement, as the appraisal customer often believes. The assessment date should always be determined by the customer, because It is up to him to decide when he uses the results of the assessment. And by the way, in some cases (for example, for the purpose of recovering damages), the assessment date may even be “retrospective”, i.e. determined for some period of time back to the date of conclusion of the contract.

Date the report was completed. This is the date to which the conclusion on the value of the property dates itself, i.e. the date on which all assessment procedures were completed by the appraiser. All market events that occurred after this date and that could lead to a change in the value of the property should serve as a reason for a revaluation, if the results of such an evaluation have not yet been used by the customer for the purpose specified by the appraiser in the conclusion, in accordance with the terms of the evaluation agreement.

As we now see, these two dates are the date of assessment and the date of completion of the report are not identical concepts, as the customer of the assessment sometimes mistakenly believes. On the contrary, for example, in cases of assessing large and complex objects (integral property complexes), taking into account the timing of the assessment, the difference between the date of assessment (even if in most cases it coincides with the date of conclusion of the contract) and the date of completion of the report can sometimes amount to several weeks to several months.

It should now be noted that, as established by clause 57 of the above-mentioned National Standard No. 1 “General principles for the valuation of property and property rights”, the validity period of the report (and, accordingly, the conclusion on the value of the property as its integral part) is indicated by the appraiser only if necessary or in cases established by law specifically for certain situations.

Such situations include, for example:

Privatization or sale of state or municipal property through competitive means (the report is valid for 6 months from the date of assessment);

Rent of state or municipal property (the report is valid for 6 months from the date of assessment);

Enforcement proceedings (the report is valid for 6 months from the date of signing the assessment);

Expert monetary valuation of land (the report is valid for 12 months from the date of valuation);

- “estimated value” of the property, determined for tax purposes (the report is valid for 6 months from the date of the assessment).

As you can see, in contrast to the category “date of assessment”, the category “date of assessment” is used by law, but is not clearly regulated and, in most cases, is interpreted precisely as “date of assessment”.

In addition, we note that even in cases where the validity period of the report is not specified by the appraiser, such a period can be normatively determined by the relevant authorities (for example, local governments) that use this report, taking into account current legislation.

Thus, we can draw the following conclusion that the validity period of the report, except in cases determined by law or relevant authorities, is not a mandatory category and can be indicated in the report only in those situations where the appraiser considers it necessary - for example, when a property is assessed in conditions of a constantly changing market (taking into account the current price dynamics in a certain market, any other constantly changing market parameters affecting the value of the object, etc.).

At the same time, we would also like to note that in cases where an interested person, using the appraiser’s report to make any decisions, himself determines that, taking into account the period of time that has elapsed since the date of assessment, it is necessary to revaluate the object, then under certain conditions it is possible not to “ a new" assessment, but to carry out the so-called updating of the "old" assessment report.

The procedure for updating the assessment report is regulated by clauses 58-59 of National Standard No. 1 “General principles for the assessment of property and property rights”.

Question: On the economic justification of the validity period of the report on the assessment of the object of assessment provided for by the legislation of the Russian Federation on appraisal activities.

Answer: The Department of Innovative Development and Corporate Governance of the Ministry of Economic Development of Russia considered the application on the application of the provisions of clause 26 of the Federal Valuation Standard “General concepts of valuation, approaches to valuation and requirements for conducting valuation (FSO No. 1)”, approved by Order of the Ministry of Economic Development of Russia dated July 20, 2007 N 256 (hereinafter referred to as FSO No. 1), and reports the following.

According to clause 26, the final value of the valuation object indicated in the valuation report may be considered recommended for the purposes of concluding a transaction with the valuation objects, if no more than 6 months.

Thus, in accordance with the legislation of the Russian Federation on appraisal activities, the appraisal report must be relevant either as of the date of the transaction with the subject of appraisal, or as of the date of submission of the public offer.

Additionally, we inform you that in accordance with clause 6 of section. II and sec. III FSO N 1, the appraiser determines the final value by calculating the value of the valuation object using valuation approaches and justified by the appraiser agreement (generalization) of the results obtained through the use of various valuation approaches.

When preparing an appraisal report, the appraiser studies the quantitative and qualitative characteristics of the appraisal object, collects information essential for determining the value of the appraisal object using the approaches and methods that, based on his judgment, should be applied when conducting the appraisal, including: information on political, economic, social, environmental and other factors influencing the value of the valuation object, and information on supply and demand in the market to which the valuation object belongs, including information on factors influencing supply and demand, quantitative and qualitative characteristics of these factors.

The information presented in the assessment report should allow the user of the assessment report to draw correct conclusions about the characteristics examined by the appraiser when conducting the assessment and determining the final value of the property being assessed, and to make informed decisions based on these conclusions.

It should be noted that both after the date of assessment and after the date of preparation of the report, events may occur that have a significant impact on the final value of the market value of the subject of assessment, and an increase in the period of use of the assessment report leads to an increase in the risks of making unfounded decisions, in particular, by the state .

Taking into account the above, the validity period of the assessment report provided for by the legislation of the Russian Federation on appraisal activities seems economically justified.

Deputy Director of the Department of Innovative Development and Corporate Governance
D.V. SKRIPICHNIKOV

urgency of the procedure.
quality characteristics;
property location;
apartment area;

The main list includes:

Certificate of ownership;
Lease agreement;
Rentals;
All information on encumbrances;
Book value;
Utility payments;
Technical certificate;
Explication;
Certificate from the BTI;
Floor plan;
Permission for redevelopment (if any);

What affects the market value of real estate? When assessing, three main approaches are used: cost, income and comparative.

The final result of the assessment is not an arithmetic average, but the result of logical reasoning and a thoughtful approach of a professional to the assessment process, as a result of which the real market value of the appraised object is derived.

Attention

Thus, the calculation results in each approach can be influenced by various factors.

Validity period for market value assessment

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A selection of the most important documents upon request Validity period of the assessment report (regulatory acts, forms, articles, expert consultations and much more).
Regulatory acts: Validity period of the assessment report Federal Law of July 29, 1998 N 135-FZ (ed.

dated July 29, 2017)" On valuation activities in the Russian Federation" The final value of the market or other value of the valuation object, determined in the report, with the exception of the cadastral value, is recommended for the purposes of determining the initial price of the subject of an auction or competition, completing a transaction within six months from date of preparation of the report, except for cases provided for by the legislation of the Russian Federation.

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Is there a validity period for real estate appraisals and what does the appraisal agreement look like?

Validity period of the Property Complex Assessment Report and regulations governing this period. General requirements for the content of the assessment report of the subject to be assessed.

Question: Please tell me whether there is a validity period for the Property Complex Valuation Report and how it is regulated. The property complex was assessed for the parent company's contribution to the subsidiary's charter.

Answer: The general deadline has not been established.

According to Art. 12 of the Federal Law “On Valuation Activities”, the final value of the market or other value of the valuation object, indicated in a report drawn up on the grounds and in the manner provided for by this Federal Law, is recognized as reliable and recommended for the purposes of concluding a transaction with the valuation object, if in the manner established the legislation of the Russian Federation, or in court, has not established otherwise.
The final value of the market or other value of the valuation object, determined in the report, with the exception of the cadastral value, is recommended for the purpose of determining the starting price of an auction or competition item, completing a transaction within six months from the date of preparation of the report, except for cases provided for by the legislation of the Russian Federation.

Rationale

Federal Law of July 29, 1998 No. 135-FZ
On appraisal activities in the Russian Federation

Article 11. General requirements for the content of the report on the assessment of the object of assessment11233

The final document drawn up based on the results of determining the value of the appraised object, regardless of the type of value determined, is the assessment report of the appraised object (hereinafter also referred to as the report).12

The report is drawn up on paper and (or) in the form of an electronic document in accordance with the requirements of federal valuation standards, regulatory legal acts of the authorized federal body exercising the functions of legal regulation of valuation activities.7

The report must not be ambiguous or misleading. The report must indicate the date of the assessment of the subject to be assessed, the assessment standards used, the goals and objectives of the assessment of the subject to be assessed, as well as other information necessary for a complete and unambiguous interpretation of the results of the assessment of the subject to be assessed, reflected in the report.6

The report must indicate:6 the date of compilation and the serial number of the report; the basis for the appraiser’s assessment of the property being assessed; information about the appraiser or appraisers who carried out the assessment, including last name, first name and (if any) patronymic, contact telephone number, postal address, e-mail address of the appraiser and information about the appraiser's membership in a self-regulatory organization of appraisers; 1 information about the independence of the legal entity with which the appraiser entered into an employment contract and the appraiser in accordance with the requirements of Article 16 of this Federal Law;2

purpose of assessment;1

an exact description of the valuation object, and in relation to the valuation object belonging to a legal entity - details of the legal entity and, if available, the book value of this valuation object;2

valuation standards for determining the value of the valuation object, a list of data used in the assessment of the valuation object, indicating the sources of their receipt, assumptions adopted when assessing the valuation object;2

the sequence of determining the value of the appraised object and its final value, restrictions and limits of application of the result obtained; the date of determination of the value of the appraised object; the list of documents used by the appraiser and establishing the quantitative and qualitative characteristics of the appraised object. The report may also contain other information that, in the opinion of the appraiser, essential for the completeness of the reflection of the method used to calculate the value of a specific valuation object.1

To carry out the assessment of certain types of objects of assessment, the legislation of the Russian Federation may provide for special forms of reports.1 The report must be numbered page by page, bound (except when the report is prepared in the form of an electronic document), signed by the appraiser or appraisers who carried out the assessment, and also affixed with a personal seal the appraiser or appraisers or the seal of a legal entity with which the appraiser or appraisers entered into an employment contract.2 A report drawn up in the form of an electronic document must be signed with an enhanced qualified electronic signature in accordance with the legislation of the Russian Federation.17 In cases provided for by this Federal Law, regulatory legal acts authorized federal body exercising the functions of legal regulation of valuation activities, the report is subject to publication in the manner established by the authorized federal body exercising functions of legal regulation of valuation activities.1

Article 12. Reliability of the report as a document containing information of evidentiary value29374

The final value of the market or other value of the valuation object, indicated in a report drawn up on the grounds and in the manner provided for by this Federal Law, is recognized as reliable and recommended for the purposes of concluding a transaction with the valuation object, if in the manner established by the legislation of the Russian Federation, or in court the procedure has not been established otherwise.39 The final value of the market or other value of the valuation object, determined in the report, with the exception of the cadastral value, is recommended for the purposes of determining the initial price of the subject of an auction or competition, completing a transaction within six months from the date of preparation of the report, with the exception of cases provided for by the legislation of the Russian Federation.4

Article 13. Contestability of information contained in the report8315

If there is a dispute about the reliability of the value of the market or other value of the valuation object established in the report, including in connection with another existing report on the valuation of the same object, this dispute is subject to consideration by a court, an arbitration court in accordance with the established jurisdiction, an arbitration court by agreement of the parties to a dispute or agreement or in the manner established by the legislation of the Russian Federation regulating valuation activities.50 A court, arbitration court, arbitration tribunal has the right to oblige the parties to complete a transaction at a price determined during the consideration of the dispute in a court hearing, only in cases where it is mandatory to complete the transaction in in accordance with the legislation of the Russian Federation.

The process of entering into an inheritance is associated with certain financial costs: to obtain title certificates, the relatives of the deceased, his children, parents, sisters, brothers, as well as official spouses, pay 0.3% of the estimated value of the property (up to 100 thousand rubles), to all the remaining heirs will have to bear expenses in the amount of 0.6% of the mentioned figure (up to 1 million rubles).

Among other things, the subject of valuation are cars and other vehicles. To carry out the event in question, interested citizens traditionally contact specialized certified organizations involved in assessing the value of various types of property, after which the appraisers’ calculations are used to determine the amount of the notary fee.

Despite the fact that a notary collects funds for issuing title certificates for heirs, this official does not have the right to conduct appraisal actions. Along with this, the notary does not have the right to require the heirs to submit a report on the assessment completed, prepared by any specific company indicating a specific value (market, cadastral, etc.) - these points remain at the discretion of the heir directly.

In accordance with current legislative standards, enshrined in the standards of Art. 333.25. of the current Tax Code (first paragraph, seventh subparagraph), to evaluate vehicles for the purpose of calculating the amount of state tax upon inheritance, have the right:
Article 333.25 of the Tax Code of the Russian Federation (clause 1.7)

organizations and individual appraisers who have permission to carry out the actions in question;
forensic institutions.

Is it possible to evaluate the car yourself?

Often, citizens who do not want to overpay to third-party specialists try to carry out an assessment of the inherited vehicle on their own. It cannot be said that such an action is impossible, but a citizen who decides to refuse the services of professional appraisers must remember a couple of the most significant nuances.

First, a qualified appraiser will perform the most objective analysis of market offers for vehicles similar to the inherited vehicle. Secondly, in many cases, information about the estimated price of a car must be confirmed by an official report issued by a certified organization.

Example of a Hyundai Solaris car evaluation report

Carrying out an independent assessment of the car makes sense only for a preliminary determination of the expected amount of the fee for notary services. This is done as follows:

on websites with advertisements for the purchase/sale of vehicles there are several advertisements for a car of the same make and model with similar parameters (year of manufacture, mileage, etc.);
the average price of cars is determined;
from the value established in the previous paragraph, a duty of 0.3% or 0.6% is calculated, depending on the degree of relationship between the deceased citizen and the heir.

Documents for assessing the cost of vehicles

Before you go to the appraiser, prepare the following:

registration certificate, passport and other documents for the inherited car;
a certificate or a document replacing it certifying the fact of death of the previous owner;
passport.

As a rule, there is no need to inspect the inherited vehicle. This may be necessary only when inheriting rare, exclusive and especially expensive cars. In general, this point is considered individually in each case.

Helpful advice! Sometimes the documents issued by the traffic police contain errors, most often in the name of the car. To avoid various kinds of difficulties, try to prepare for the appraiser all the documents you have for the inherited object.

How to order an assessment?

Almost every modern company specializing in the valuation of cars and other property allows you to order the service both in person and by postal/electronic request. The standard procedure is shown in the following table.

Table. The procedure for assessing a car

	In person
The applicant sends to the address indicated by the appraisal company the necessary documents (were listed earlier) in the form of regular or scanned copies.	The customer comes to the office of the appraisal company with the previously mentioned documents.
The company studies the market situation and prepares an assessment report.	The company evaluates the vehicle. If necessary, a visual inspection is performed.
The customer picks up the report at the company’s office or, usually for an additional fee, it is delivered by a courier to the specified address.	The customer picks up the report personally or has it delivered to him by courier.

The nuances of payment, timing of the assessment and other related activities are discussed directly with the performing company.

The assessment procedure includes the following activities:

if necessary, an authorized employee examines the condition of the vehicle, recording any damage and defects found;
a description of the main characteristics of the vehicle is compiled;
a market analysis is performed, during which prices for similar vehicles are studied and the average market value is calculated;
the customer receives a report and related documents.

Report (example) on determining the market value of a vehicle: VAZ 21124, produced in 2004

In accordance with current legal provisions, the estimated value of the vehicle as of the date of death of the testator is used to calculate the fee for issuing a certificate to the heir. In general, as a rule, appraisers are more interested in the benefit of their client, rather than a third-party notary, therefore, to calculate the cost of a car, the least expensive analogues of the vehicle being valued are usually selected, which makes it possible to reduce the amount of the notary fee.

What is included in the assessment report?

The assessment report is an official document with full legal force. When drawing up a report, appraisers are guided by current legal provisions at the time of preparation of the document.

In the report, the expert describes in detail the conclusions drawn regarding the market price of the vehicle, based on the market analysis and the results of the calculations performed.

A standard report includes on average 10-20 sheets. It is important that each sheet is numbered, and that the entire document is bound and certified by the appraiser’s seal.

Copies of documents and certificates from the customer and the appraiser, as well as various types of auxiliary materials involved in the process of carrying out the activities performed, are attached to the finished report.

An example of a report on assessing the market value of a VOLKSWAGEN PASSAT vehicle

Validity period of the assessment report

The validity period of the assessment report is regulated by the Federal Law “On Appraisal Activities in the Russian Federation”

In accordance with current legislative regulations, the conclusions of the appraisal company remain valid and relevant for 6 months from the date of preparation of the report. At the end of this period, the assessment, if this need arises, will have to be performed again.

There are often situations when the heir does not have title documents for a car that belonged to a deceased person, and only has a certificate from the traffic police indicating that such and such a vehicle is registered in the name of such and such a citizen.

The assessment can be carried out in this situation, however, in his report the expert will indicate a number of limitations indicating that the report was carried out on the basis of information provided by the customer, etc. Under such circumstances, difficulties may arise during cooperation with a notary, and justice will have to be established in court. In most cases, the courts accommodate the heirs and consider such reports. The only thing is that the procedure will require more significant time investment.