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Real estate appraisal in a new way: fast, free, affordable

26/ 08/ 2021
  Author: Gennady Silvanovich, Lawyer of Dynasty Law & Investment Estimated (or market) value is necessary for all individuals - taxpayers when conducting real estate transactions. Such value is determined by special persons - subjects of appraisal activity (appraisers), who usually charge a lot of money for their services. However, in accordance with the SPFU order of 25.06.2021 № 1097, starting from 29.06.2021, the Unified Database of Evaluation Reports (hereinafter - the Database) began to function. From now on, the appraisal value of a real estate object (hereinafter - the value of the object) is determined automatically and free of charge, on the basis of information about such an object entered into the Database by anyone who has access to the Internet. That is, anyone can get the appraised value of real estate (residential, non-residential, unfinished construction or land) without contacting the appraiser. To do this, you must register in the personal account of the base user. Login to the Database is carried out using EDS, which can be formed and obtained in the application Privat24 (if you are a client of PJSC CB PrivatBank), or in other banks through their mobile applications. Following the instructions in the personal account, it is quite simple to generate an electronic certificate of the appraised value of real estate (e-Certificate), which is valid for 30 calendar days from the date of its formation. The functionality of the Database also allows you to get an e-Certificate separately for the property and separately for the land below it, or to obtain a general e-Certificate. Obtaining such a certificate is currently a mandatory procedure for an individual to make transactions with real estate (sale, exchange, acceptance as a gift or inheritance, etc.) to calculate his income for the purpose of proper taxation. The appeal to the appraiser in order to determine the market value of real estate is possible only in case of disagreement with the results of the previously formed e-Help. However, even when contacting an appraiser, the market value of the property in the appraisal report should not be higher or lower by 25% than the one set in the e-Help.  

Author: Gennady Silvanovich, Lawyer of Dynasty Law & Investment

Estimated (or market) value is necessary for all individuals – taxpayers when conducting real estate transactions. Such value is determined by special persons – subjects of appraisal activity (appraisers), who usually charge a lot of money for their services.

However, in accordance with the SPFU order of 25.06.2021 № 1097, starting from 29.06.2021, the Unified Database of Evaluation Reports (hereinafter – the Database) began to function.

From now on, the appraisal value of a real estate object (hereinafter – the value of the object) is determined automatically and free of charge, on the basis of information about such an object entered into the Database by anyone who has access to the Internet. That is, anyone can get the appraised value of real estate (residential, non-residential, unfinished construction or land) without contacting the appraiser.

To do this, you must register in the personal account of the base user. Login to the Database is carried out using EDS, which can be formed and obtained in the application Privat24 (if you are a client of PJSC CB “PrivatBank”), or in other banks through their mobile applications.

Following the instructions in the personal account, it is quite simple to generate an electronic certificate of the appraised value of real estate (e-Certificate), which is valid for 30 calendar days from the date of its formation. The functionality of the Database also allows you to get an e-Certificate separately for the property and separately for the land below it, or to obtain a general e-Certificate.

Obtaining such a certificate is currently a mandatory procedure for an individual to make transactions with real estate (sale, exchange, acceptance as a gift or inheritance, etc.) to calculate his income for the purpose of proper taxation.

The appeal to the appraiser in order to determine the market value of real estate is possible only in case of disagreement with the results of the previously formed e-Help. However, even when contacting an appraiser, the market value of the property in the appraisal report should not be higher or lower by 25% than the one set in the e-Help.

 

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