Retrospective evaluation

When is a retrospective evaluation needed? A retrospective evaluation is carried out when:

• various circumstances and/or lengthy processes make it necessary to determine the value of an asset in the past;
• it is not possible to carry out an inspection of the object/asset because the object/asset has been destroyed or the owner/occupier does not know the location of the object/asset;
• the physical characteristics of the object/asset have changed at the date of the survey and do not reflect the former condition of the object/asset.

Retrospective valuation requires a great deal of knowledge and experience, so it is important to choose a valuer who is an experienced professional, who knows exactly how retrospective valuation is carried out and who has practical experience.

The process of a retrospective valuation is very similar to a normal asset valuation procedure. The difference is that a retrospective valuation is carried out when it is necessary to determine the market value of an asset in the past. The main difficulty of the valuation is to gather all the information about the past condition of the asset. For this process, it is very important to choose an independent valuer who is impartial and objective.

As the valuation determines the past value of an asset rather than its current value, a retrospective valuation report has no shelf life.

Like any other procedure, a retrospective valuation starts with a consultation, during which the valuer has the opportunity to get to know the client, his/her needs and to obtain the necessary documents. This is followed by data analysis. Once the documents have been analysed, the appraiser can inspect the property. If the property has been destroyed or altered, the assessor may refer to photographs or previous recorded data. After these processes, a valuation report is drawn up and handed over to the client.

The price of a retrospective valuation is determined on an individual basis, depending on the type of property being valued and the valuation date.

Retrospective evaluation requires not only due diligence but also years of experience. That’s why we suggest you contact us. We are an experienced team with many advantages:

• We have been providing a wide range of valuation services for more than 18 years. This long experience has allowed us to learn from our mistakes, but also to acquire a wealth of knowledge and skills that help us to carry out valuations quickly and professionally.
• Our goal is to remain a market leader even after many years, so we not only use the knowledge we have, but also continuously deepen it, learn and try to put the theoretical knowledge we have acquired into practice. We not only keep up-to-date with market news, but also with sound sources of information.
• Our team members improve their skills by attending seminars organised by professional organisations of valuers and supervisory authorities in the Republic of Lithuania. Our appraisers are also members of professional organisations of property appraisers, the Lithuanian Chamber of Appraisers and the Lithuanian Property Appraisers Association.
• We provide a wide range of services. In addition to retrospective valuations, we can also appraise real estate or movable property, maritime and inland waterway transport, customs valuation of vehicles, etc.
• We are independent valuers, so you can be sure of our objectivity and impartiality.
• Every client is equally important to us. We do not divide our clients’ projects into big or small. We communicate with each client cordially, work promptly and will do our best to fulfil each client’s needs and answer all questions.
• All information provided by our existing or potential clients is kept confidential and not shared with others.
• It is important to us that our clients are fully satisfied with our services, so we not only provide a quality service, but also offer fair pricing that is in line with the market at the time.

Interested in retrospective evaluation? Contact us to find out more about our services, pricing and to get a personalised quote. You can find us in Vilnius and Klaipėda, but our services are not only available in these cities, but also throughout Lithuania. You can contact us by phone or email, but you can also send us an enquiry immediately with all the information you need. We will reply to your enquiry within 8 hours.