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Appraisal Of Real Estate

INTRODUCTION TO REAL ESTATE APPRAISAL SERVICE

Real estate is assets including:

• Land;
• Houses and construction works associated with land, including assets attached to such houses and construction works;
• Other assets associated with land;
• Other assets prescribed by law ...

Valuation is the evaluation or re-evaluation of the value of assets appropriate to the market at a location, a certain time according to Vietnamese standards or international practices.
Therefore, real estate valuation is an estimate of the value of land use rights, ownership of houses and structures attached to the land being traded in the market at the time of appraisal. Price and for a purpose have been clearly defined in the conditions of a certain market with appropriate methods specified in Vietnamese valuation standards or international practice.
The real estate market is a specific space, time and place where trading, transferring, leasing, mortgaging and related services such as intermediaries, brokers and consultants are conducted. . Relating to real estate among entities in the market where the state management role has a decisive impact on the promotion or inhibition of business activities in the real estate market.
Real estate prices depend largely on the supply-demand relationship in the market. When demand is greater than supply, real estate prices are often pushed up; Conversely, when demand is lower than supply, real estate prices tend to decrease. However, prices also depend on many other factors such as factors arising from market imperfections such as "monopoly", "speculation", "unfair competition" ... there are weaknesses. The factor comes from the States intervention such as the States investment in upgrading residential infrastructure (roads, water supply and drainage, power supply ...).

 Real estate valuation method:

• Direct comparison / comparison method
• Method of cost reduction
• Investment method (traditional investment method / discounted cash flow technique)
• Surplus method (or hypothetical business / development analysis method)
• Profit method and other methods ...

The purpose of Real Estate Valuation:

• Property mortgage, credit guarantee;
• Purchasing, selling, transferring, contributing capital to joint ventures;
• Business establishment, enterprise equitization;
• Debt settlement and dissolution of enterprises;
• Compensation, insurance and complaints;
• Accounting and tax calculation;
• Consulting and setting up investment projects;
• Other purposes