Technical Assessment of Constructions in Real Estate Appraisal

Abstract:

One of the modern society priorities is the tendency towards sustainable social and economic development. Sustainable development is possible through the preservation and efficient use of the values created by our ancestors and the ability to meet current needs so as not to endanger the ability of future generations to meet their own needs. Real estate appraisal activity evaluates the changes in property value over time. Physical or legal actions on the property are justified only if the future value is not affected.Theory and practice of appraisal activity quantifies three approaches to value:The Sales Comparison Approach – value is examined in terms of current market preferences;The Income Approach – determine the income the property is expected to generate over time as a result of the most probable use;The Cost Approach – value is perceived in terms of replacement cost of real estate with one with comparable utility.Technical assessment of constructions is applied as a rule mainly in the cost approach, and has a major impact on the estimate of market value. The role of technical assessment is reduced, even ignored and not taken into account in other approaches.The present research examined the role of technical assessment of constructions in the process of real estate appraisal and the impact of inspection on the real estate value.

• Periodical: Advanced Engineering Forum (Volume 21)
• Pages: 639-646
• DOI: https://doi.org/10.4028/www.scientific.net/AEF.21.639
• Online since: March 2017
• Authors: Svetlana Albu
• Keywords: Competences, Inspection, Professional Competences, Professional Qualifications, Technical Assessment of Construction

References

[1] Legea R. Moldova cu privire la activitatea de evaluare N989-XV din 18. 04. (2002).

[2] Standardul R. Moldova SM 249: 2004 Sistem unic de evaluare a patrimoniului.

[3] Regulamentul cu privire la evaluarea obiectelor de proprietate intelectuală şi Indicații metodice privind evaluarea obiectelor de proprietate intelectuală, aprobate prin Hotărârea Guvernului Republicii Moldova nr. 783 din 30 iunie (2003).

[4] Regulamentul provizoriu privind evaluarea bunurilor imobiliare, aprobat prin Hotărârea Guvernului Republicii Moldova nr. 958 din 4 august (2003).

[5] Regulamentul cu privire la activitatea de estimare a valorilor mobiliare și activităților ce se referă la ele, aprobat prin Hotărârea Comisiei Naționale a Valorilor Mobiliare nr. 36/9 din 27 decembrie (2001).

[6] ВСН 53-86(р) ВЕДОМСТВЕННЫЕ СТРОИТЕЛЬНЫЕ НОРМЫ Правила оценки физического износа жилых зданий.

[7] ВСН 57-88(р) ВЕДОМСТВЕННЫЕ СТРОИТЕЛЬНЫЕ НОРМЫ Положение по техническому обследованию жилых зданий.

[8] NCM A. 09. 02 – 2005 Deservirea tehnică, reparația şi reconstrucția clădirilor de locuit, comunale şi social-culturale.

[9] NCM A. 09. 03: 2015 Examinarea elementelor de construcţii portante şi terenurilor de fundaţii a clădirilor şi construcțiilor.

[10] CP A. 01. 03/002 – 2013 Estimarea termenului de exploatare a produselor pentru construcţii în îndrumătoarele pentru evaluări tehnice europene, evaluări tehnice şi standarde armonizate.

[11] Culegerea indicilor comasați ai valorii de reconstituire a clădirilor şi construcțiilor pentru reevaluarea mijloacelor fixe.

[12] Нормы по оценке принадлежащим гражданам Молдавской СССР строений для целей государственного страхования. Утверждены постановлением Совета Министров Молдавской СССР №119 от 29. 03. (1982).

[13] European Standard EN 15733 Services or real estate agents – Requirements for the provision of services of real estate agents.

DOI: 10.3403/30170675u