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Appraisal of real estate

The field of valuation, including real estate valuation in Vietnam began to appear in the 90s of the last century. However, in 2002, after the Standing Committee of the National Assembly issued the Ordinance on Prices No. 40/2002 / PL-UBTVQH10 and by 2012 the Price Law was passed by the National Assembly on June 20, 2012, this field has been officially "legalized" and become a service industry in Vietnam.

1. What is real estate?

According to Article 107 of the Civil Code of the Socialist Republic of Vietnam 2015, real estate includes: Land; Houses, construction works attached to land; Other property attached to land, house, construction works; Other assets as stipulated by law ...

As such, real estate is primarily an asset, but unlike other assets, it is not removable. According to this understanding, real estate includes land and land-attached assets, not separate from land, determined by the geographical location of the land.

2. What are real estate valuations and valuations?

Valuation, also known as valuation, is understood as the evaluation or re-evaluation of the value of an asset in accordance with the market price at a certain time or place, according to Vietnamese or international standards.

From there we can understand that: valuation, real estate valuation is an estimated amount of land use rights, home ownership, land-attached architectural works ... being traded. in the market at the time of valuation and for a well-defined purpose under certain market conditions with appropriate methods set out in Vietnamese valuation standards or practices. international.

In fact, the price of real estate in the market depends mainly on the relationship of supply - demand (supply - demand). When the demand is greater than the supply, property prices will be pushed up and vice versa. In addition, the real estate market price is also influenced by factors such as: real estate speculation; exclusive distribution; Unfair competition; utility issues around the real estate such as: schools, hospitals, entertainment areas, shopping - commercial areas ... and also State investments to upgrade infrastructure of residential areas populate the property.

What is the real estate market?

The real estate market is the environment including: specific space, time, location. In that environment, there were activities of buying, selling, leasing, transferring, mortgaging and intermediary services such as brokerage, consulting, valuation… related to real estate among the entities on the market. These activities are in compliance with the provisions of law and are regulated by the State.

However, not all of the above real estate are allowed to participate in transactions in the market, real estate goods that want to be traded on the market must meet the conditions for participating in transactions according to the States regulations. For example, land on which land users must have a land use right certificate and not have any disputes ...

3. The purpose of real estate valuation and valuation

Like the need for valuations of other assets, real estate valuations often serve the following purposes:

• Asset mortgage, credit guarantee with banks, credit agencies, lenders.
• Purchase, sale, transfer, joint venture capital contribution
• Establishing a new business, equitizing it
• Debt settlement, business dissolution
• Consulting and setting up investment projects
• Compensation, property insurance, complaints
• Property division and inheritance
• Accounting accounting, tax calculation
• Other purposes

4. Valuation method, real estate valuation

Currently, the methods of real estate valuation, also known as real estate valuation in Vietnam, are specified in Circular No. 145/2016 / TT-BTC dated October 6, 2016 of the Minister of Finance. key (on the promulgation of Vietnam Valuation Standards). Including 5 methods of valuation and real estate valuation as follows:

• Direct comparison / comparison method
• The cost method (also known as the cost method)
• Extraction method
• Residual method (or method of business analysis / hypothetical growth)
• Earnings method (direct capitalization, discounted cash flows)

5. Real Estate valuation documents include what?

Real estate valuation documents: are documents related to the asset value appraisal made, collected, classified, used and archived by the appraiser during the appraisal process. , includes some of the following basic documents:

1. Request for appraisal: must state the general, basic elements of real estate; purpose to evaluate
2. Certificate of land use rights, ownership of houses and other land-attached assets
3. House construction permits, construction design drawings, cost estimates, Real Estate location plans and other drawings
4. Completion drawings, construction work finalization documents
5. Other documents show legal and technical properties of Real Estate.

In addition, depending on the specific type of real estate and the purpose of valuation, there will be necessary legal documents attached.

6. Real estate valuation process

At Hoang Quan valuation, the real estate appraisal process is optimized to shorten the appraisal time, save on appraisal costs for customers but still ensure the elements of legal, strict, customer compliance. important, exact. Specifically include the steps:

Step 1: Receive information and identify needs

Sales professionals, Customer Care will receive information from customers, thereby determining customers need for appraisal of prices and guiding customers to complete a set of price appraisal documents before conducting price appraisal services. for customers.

At the same time, the sales specialist or customer care specialist will make a preliminary quote on the value of the asset to be assessed and the expected appraisal cost to the customer.

Step 2: Develop a price appraisal plan

After receiving the needs and information from customers, appraisers and business experts Hoang Quan will develop a price appraisal plan to clearly define the scope, content of work, progress of each work content and implementation progress of the entire appraisal of prices.

Step 3: Surveying reality, collecting information

After Hoang Quan receives a full set of appraisal documents from customers, experts / appraisers of the Appraisal Department will conduct a field survey and study the legal and technical records of the property that the customer goods supplied and by other professional methods necessary to conduct asset valuation.

Real estate survey includes: land area, house, construction on land, determine the location of property to be assessed, lane length, business environment, living environment ... etc. Consult actual transactions of the surrounding area and analyze more information from the data warehouse of the company.

Refer to information about real estate value in the market: through online and offline channels

Step 4: Complete price appraisal report

Make price appraisal reports in accordance with the provisions of law and Vietnam valuation standards.

Step 5: Control

After the Appraiser prepares the appraisal report, the report will be transferred to the Control Department and the Supervisors will re-check the entire form and content of the report including: asset appraisal value, information legal, technical information of assets, customer information, appraisal purposes, appraisal methods, ... before issuing valuation reports and certificates to customers.

Step 6: Issue Valuation Report and Certificate

Hoang Quan printing department will carry out the procedures for printing deed certificates and appraisal reports, scan the appraisal report certificate file and send it to customers by email and deliver the originals to customers by post or delivery. for customers. At the same time, the printing department and the customer care department also store records, documents, customer information for comparison and support customers when needed.

Real estate valuation and appraisal services are one of the specialized areas of Hoang Quan Valuation Company. We are always confident with our strengths such as: nearly 20 years working in the valuation industry, abundant information data storage, a large team of highly qualified appraisal experts, fast appraisal process. , tight, minimizing appraisal costs ...

Hoang Quan Valuation Company Limited - Hanoi Branch

Hotline: (+84)901.186.700

Valuation Hoang Quan - The measure of value