ESTIMATION PROCEDURES
Very often, our agency is asked for an evaluation of the asset to be sold or purchased.
There are various methods to be applied depending on the property to be estimated, but the procedure must begin with a series of essential documents to complete the assignment:
Cadastral research for the identification of the property to be estimated, floor plans (in the case of buildings) or cadastral maps. The identification of the urban area where the properties are located is determined for the estimate of the land.
In the estimation procedures, a distinction must be made between:
1) direct estimate and indirect estimate
2) synthetic estimate and analytical estimate
3) full estimate
4) estimate by constituent elements
- Direct estimate: if it is resolved with an immediate comparison of the asset with others, of which the market data that corresponds to the economic aspect to be evaluated is known. The aspects considered by this procedure are those of market value and cost
- Indirect estimate: if immediate comparison is not possible. The aspects considered are that of transformation, subrogation, complementary and capitalization
- Synthetic estimate: the estimate is called synthetic when the value is reached through the use of little data, therefore through a final synthetic calculation. This method is used for small goods
- Analytical estimate: the estimate is called analytical when the value of the asset is reached through a detailed analysis of the components that affect the value. When the customer wants to know the value of the various buildings or levels individually.
- Lump-sum estimate: the estimate is called lump-sum when the asset is considered as a whole and compared with similar or analogous complexes.
- Estimate by constituent elements: the estimate is said by constituent elements when a value is attributed to a structurally complex asset, seen as a set of distinct assets and for each it is possible to determine a separate evaluation. In practice, the various components of the asset are estimated separately, each by comparison with similar elements, and the overall value is reached by adding the partial values.
