Determining the Value
Purposes of Rea Estate Appraisal:
Esnad believes that the appraisal profession is one of the most important elements of the investment decision-making, which contributes to the conservation of the assets of the public and private sectors, but the significant importance in this regard lies in the possibility of many different purposes of evaluation. There might be a different set of values for a single asset at a specific time period depending on the purpose of the assessment. The following are the main purposes of the real estate appraisal:
(buying and selling lands, mortgage, real estate investment, auctions, financial reporting, zakah and taxation, insurance, land development, corporate mergers and acquisitions, feasibility studies, high and best use studies, rental assessment, real estate portfolios, accounting purposes, legal purposes).
Appraisal Methods and Criteria
The latest professional methods and standards
Appraisal methods:
Due to the multiple purposes of real estate appraisal and the nature of the lands, the methods used in the appraisal of a property may not be suitable for another one. Over the years, a number of main methods have evolved which they have sub-methods of evaluation.
. Esnad has the knowledge and know-how to use all methods and their applications, namely the market method, income method, cost method. Sub-methods such as investment method, residual value method, discounted cash flow method, as well as the comparable methods that reflects the market value of the real estate.
Appraisal Criteria:
Esnad is recognized for its high standards of professionalism and through its commitment to the international standards and standards adopted by the International Valuation Standards Council (IVSC) as well as the regulations and regulations issued by the Saudi Authority for Accredited Valuers (TAQEEM).
Types of Real Estates
Appraising different real estate types
Real Estate Types:
(apartments, residential buildings, Villas, commercial retails, malls, farms, gas station, health buildings, hotels, town houses, industrial lands, office buildings, mix used developments, clubs, residential subdivisions, restaurants, warehouses, recreational centers).
Appraisal Process.
Extensive experience with latest technologies.
Interactive Appraisal Program Systems:
1. Correspondence system.
2. GPS.
3. Automated Evaluation System.
4. GIS.
5. Total Quality Management (TQM).
6. Financial Claims System.
7. System of quotations.
Esnad follows several stages in the appraisal process , they are:
Determining the property to be evaluated
Determining the purpose of the evaluation
inspection of the property
Investigating the rights, legal restrictions, rental rights and others.
Inquiries about city planning and regulations and environmental considerations of the concerned agencies.
Classification of comparable transactions and the possibility of setting an indicative price for similar buildings in good condition.
Adjust the price of the comparable property to show the advantages and disadvantages of variables in the market for the quality of real estate.
Interactive Appraisal Program
We provide appraisal services to customers with the latest technologies and methods that are accredited globally and locally. We have developed a special program for us to do all kinds of appraisal for all types of real estate; that is the interactive evaluation program. The program operates according to a completely free environment of paperwork. All procedures are performed automatically, hence reducing the period of appraisal process from 8 hours to 4 hours. The program also provides intelligent electronic systems specializing in real estate valuations that provides to the company all necessary aspects of documentation, operations and follow-up. The program operates within a unified database and rely on artificial intelligence techniques to learn and infer from employees behavior.
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