With the rules and standards that are constantly changing, you will undoubtedly need a real estate professional to have a property appraised in the best conditions. The real estate market is constantly in motion, which is why it is very complicated for a neophyte to succeed in determining the value of his property. Calling on a real estate expert is then the best solution to obtain a precise and well-founded analysis of a property.
Who can use a real estate expert?
The real estate expert can intervene at the request of several people or entities:
- The owner of a property who wishes get an estimate of his house or apartment. He then requests the intervention of the real estate expert who analyzes and estimates his property objectively. This is very useful in the case of a sale, an inheritance or even a divorce.
- The courts can appoint a real estate expert for a specific action.
- Investors, insurance companies or companies that invest in real estate. The goods are then estimated precisely in order to obtain the market value.
- Companies that need to know the rental value of a property or for the sale or purchase of buildings.
- Banks and financial institutions, in the context of loan applications and the need to mortgage certain assets.
- Administrations that must manage real estate.
- Legal experts, such as lawyers or notaries.
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What are the missions of a real estate expert?
The Real Estate Expert studies the documents provided to him such as the cadastral plan, the plan of the property or the certificates of ownership. He then goes on site to get to know the place and to judge the location of the property according to its environment. You have to understand that a house will not have the same value if it is well located, close to shops, or if it is very far from amenities. It is also the proximity of a train station that can be annoying or the noise pollution of a metro that will impact the value of the property.
He then studies with precision all the particularities of the building. Expert in construction, this professional can judge the solidity of a building or certain elements that make it unhealthy or unsuitable for habitation. He justifies the value of a property by cross-referencing certain comparison data and having a strong knowledge of the real estate market as well as tax, construction and town planning laws. He bases his judgment on analysis documents responding to the CEEI (Real Estate Valuation Expertise Charter).
The study therefore includes a scrupulous examination of the property and its location. It also includes analyzes on the consistency of the property, but also documents related to its acquisition. The study of the property is reinforced by a study of the local market in order to take into consideration the competition and all the nearby facilities that bring value (schools, shops, major roads, airport, etc.). The goods appraised can be very different : thus, the expert may have to estimate land, an apartment, a large villa, but also commercial premises, a forest or a factory! The expertise is then transcribed in the form of a detailed report produced with complete objectivity and neutrality. The client can then use this expert document to buy, sell or transfer the property.
