Real estate valuation

The cadastral survey file must be submitted for assessment (and other documents in individual cases).

An appraisal may be required when:

• preparing financial statements;
• the property is subject to taxation;
• it is necessary to determine the losses incurred;
• the property is mortgaged;
• taking out a loan to acquire the property;
• a loan is taken out to complete construction;
• the asset is insured;
• the sale or other disposal of the asset.

In order to accurately determine the value of real estate, it is important not only to use analytical thinking, but also to have an understanding of the current market situation. It is therefore recommended that only experienced professionals who are able to value the property impartially and accurately should be used for the valuation of real estate. Our many years of experience enable us to produce property valuation reports of any size and complexity, reflecting the real value of the property at the time.

There are many factors that affect the value of real estate, but the following are the most important:

• The condition of the property has a major impact on the overall value of the property. The main reason for this is further investment. The better the condition of the property, the less investment will be required after the property is purchased, and therefore the higher the value of the property.
• The location of the property depends not only on the accessibility to the rest of the city, but also on the restrictions. Location therefore also has a significant impact on the overall value of the property.
• Other individual features of the property, such as when the building was built, its use, size, etc., also have a significant impact.
• Don’t forget that the market, which is constantly changing, also has a significant influence. The value of a property can be influenced not only by the economic situation at the time, but also by other nuances such as salary changes, unemployment rates, credit conditions. The laws of the country at the time, such as tax rates or benefits, also have an impact. Even the demand and supply of real estate at the time has an impact on the value of real estate.

The value of real estate is not stable and is constantly changing. So if you are not satisfied with the findings of a real estate report, you can always wait a little longer and then apply again.

The valuation process starts with an interview, during which the professional seeks to find out what the purpose of the property valuation is. The meeting is also aimed at obtaining all the necessary documents that may be needed for the process. Both the interview and the transfer of documents can also take place remotely if the client wishes. Once the necessary information has been obtained, the specialist can start the real estate valuation. During the real estate valuation, the property is inspected both externally and internally. The next step is the identification of the property, during which the title deeds are checked and the real estate valuation report is prepared. After this procedure you will be issued with a property valuation report.

With many specialists offering property valuation, it’s natural to wonder why you should turn to us. We are independent specialists with many advantages:

• We have been working in this field for many years, during which time we have not only familiarised ourselves with various situations and developed our skills, but also found methods of working that help us to work more quickly and to provide better results for our clients.
• We are progressive, so we use up-to-date and valid sources of information and methodologies. Our team understands that to build trust with our clients, we need to keep learning and improving. That’s why our professionals are not only interested in professional innovation, but also in continuous professional development. It is worth mentioning that our specialists are also members of professional organisations of property appraisers, the Lithuanian Chamber of Appraisers and the Lithuanian Property Appraisers Association.
• We are independent specialists, so we work impartially.
• It is important for us to remain a leader in the field, so we take care of every client equally to ensure that all their expectations are met.
• We want our customers to be satisfied not only with the quality of our services, but also with the price. That’s why we constantly monitor how market prices are changing to ensure that we offer fair pricing.

A property valuation is a great way to find out whether the price quoted is the true value of the property. Contact us and we will not only guide you through the process, but also make sure it goes quickly and smoothly. You will find us in Vilnius and Klaipėda, but we offer our services throughout Lithuania.