Based on the results of evaluating the apartment for a mortgage, the bank will determine the amount of the amount to be issued. It’s good when the appraised value is equal to or even higher than the price set by the seller - in this case, the mortgage loan will cover all the costs of purchasing the home. But you need to be prepared for the fact that the apartment or house will be undervalued; as a rule, banks issue a loan in the amount of 85% of the value of the property. The examination guarantees that if an unpleasant situation arises, for example, termination of a loan agreement, the parties will be able to sell the property and cover the costs.
You can order an assessment of the mortgaged property from an independent expert, but you do not need to look for a specialist yourself. Rosbank House works with accredited appraisers, whose professionalism is beyond doubt. The bank manager will help organize a specialist visit to the site. Usually the procedure takes 1 – 3 days. An application to accept a report from an appraiser not included in the Rosbank Dom list is considered no more than 30 working days from the date of submission of documents.
Why do you need a home appraisal for a mortgage with SberBank?
Real estate value assessment is an expert calculation of the total price of the property. This is the most current price at which housing can be sold at the moment. The bank will rely on the results of the assessment. In this way, he protects himself from the possible overestimation of the value of real estate and the subsequent cashing out of funds through fraudulent schemes.
Three types of real estate valuations are possible:
- The market approach is an assessment of completed similar transactions with residential space.
- The cost approach is the calculation of costs for the construction of similar real estate.
- Income approach – which takes into account the chance of an increase in the market price of housing.
Mortgage for finished apartments SberBank, Lits. No. 1481
from 9.3%
per annum
from 300 thousand
up to 30 years old
Get a loan
A real estate appraisal when applying for a mortgage is necessary to determine the size of the loan issued for the purchase of this living space. The ability for the bank to take into account the market price of the living space allows it to insure itself in case of problems with loan repayment.
There is an unpleasant chance that the client will lose the opportunity to repay the mortgage debt; the lender will sell the property at the price specified by the specialists, and thus reduce his own losses to a minimum. The borrower engages real estate appraisal specialists and pays for their services. In this case, the borrower cannot choose any independent appraiser.
The appraisal process involves the participation of three parties - the borrower, the bank and the appraiser.
The bank agrees to accept the assessment of not all specialists present on the market. The reason for this mistrust is simple - the slightest mistake in the report can ultimately lead to financial losses for the bank.
What determines the cost of an object?
When assessing the value of residential real estate, an independent appraiser identifies and analyzes dozens of pricing factors, including:
- Market situation in the city and region: decline or increase in demand for apartments, country houses; solvency of the population, etc.
- Location features: locality;
- area in a populated area,
- level of infrastructure development,
- the presence of nearby parks, industrial enterprises,
- proximity to the metro and public transport stops, etc.
- total area and number of rooms;
These and other factors are carefully analyzed by independent appraisers to determine the appropriate market value of real estate. During the assessment, the current state of the object is taken into account. Before making calculations, a company employee must visit the site to take photographs of the apartment or house.
Accredited companies of SberBank
There are a number of specialists whose services SberBank is ready to accept. From this list, you can independently select an appraisal company and cooperate with it, but it is not recommended to choose organizations not mentioned in the list. SberBank will be obliged to accept their assessment, but most likely it will require corrections and double-checks, and the borrower will lose time and money. It is best to turn your attention to large appraisal companies, since they inspire more confidence in the bank than small firms.
Loan “Gospodderzhka 2020” SberBank, Person. No. 1481
from 5.85%
per annum
up to 3 million
up to 30 years old
Get a loan
The list of companies accredited by SberBank includes the following:
- Real Estate Center LLC;
- LLC "Bureau of Business Assessment";
- LLC Expert Assessment;
- DiAnMax LLC;
- NJSC "Euroexpert";
- LLC Center for Innovative Technologies "SEVIAL";
- LLC "Center for Independent Expertise of Property";
- LLC "KO-INVEST";
- LLC "SARG - Mortgage Center";
- and others.
The legislative framework
The main legal acts are considered to be:
- Federal Law No. 221 “On the State Real Estate Cadastre”;
- Federal Law “On the General Principles of Organization of Regional Executive Power on the Territory of Russia”;
- Federal Law No. 122 “On state registration of rights to real estate”.
These regulations explain the existing nuances in assessing the BTI.
How much does a property valuation cost?
The cost of the report depends on the locality in which the property is located. The price ranges from 3,000 to 7,000 rubles. Experts evaluate the real price of the property, as well as the price of existing rights (if any). The area of the property, location, and date of construction are taken into account. Estimated completion time is 1-3 working days.
Traditionally, the document is drawn up by the interested party – the buyer. The exact order has not been officially approved. The report must be paid from the bank account of the buyer of the property. However, the funds themselves may belong to the seller if the parties to the transaction are able to find a compromise.
Why is it necessary?
It is usually needed before completing a purchase and sale transaction.
Other situations:
| Entry into inheritance | and registration of a mortgage loan, when this premises will be the subject of collateral |
| When insuring an apartment | to determine the maximum amount of compensation if an insured event occurs |
| When resolving disputes | the subject of which is this object, and when dividing housing during a divorce |
What documents are needed for the assessment?
The assessment will require you to collect some papers:
- Certificate of ownership of real estate, agreement of rent, gift, purchase and sale or equity participation.
- Papers of the technical inventory bureau, which include a cadastral or technical passport, floor plan of the premises, explanations of housing.
- Borrower details. If it is an individual, you will need a passport; if a legal entity, you will need a card indicating the company details.
- Information about the borrower's encumbrances, such as arrest, and other restrictions.
- Additional documents - death certificate of the owner, if the housing was inherited; if several apartments are subject to assessment, a list of them.
Loan “Construction of a residential building” SberBank, Lic. No. 1481
from 9.9%
per annum
from 300 thousand
up to 30 years old
Get a loan
The list of documents depends on the type of object. For a secondary fund, you need technical inventory documents and confirmation of ownership (extract from the Unified State Register of Real Estate or otherwise). To purchase an object in a new building or at the construction stage you will need:
- technical inventory documents;
- equity participation agreement;
- act of acceptance of the transfer of an object.
After transferring funds for the service on the DomClick website from SberBank, a manager contacts the client. He will coordinate the time of the visit. On site, a representative of the company will take a photo of the object, and then generate a report. The document can be presented to the bank within 6 months.
Based on the results of the assessment, a report is submitted to the bank, which will indicate:
- information about power supply, water supply, heating systems;
- year of construction of the building, wall material, type of floors;
- the presence of parking and floors under the house;
- information about malfunctions and defects that may lead to problems and the need for repairs;
- the general condition of the building in which the apartment is located;
- distance from metro stations;
- price per square meter of living space;
- infrastructure data;
- driving directions and photos of real estate;
- and other.
In case of revision of inventory value
The owner has the right to appeal the established cadastral value of his apartment.
To do this, he must file a claim with the arbitration court at the location of his home.
The plaintiff is the owner, and the defendant is the government agency that conducted the assessment.
Filing a claim
First you need to try to resolve the conflict out of court.
Therefore, you first need to submit an application to revise the cadastral value of the apartment.
It must indicate the reason:
- false information;
- discrepancy between market and cadastral values.
If this measure does not produce results, then a claim must be filed. It must be accompanied by a written refusal to revise the cost.
There is no unified form of statement of claim to the arbitration court established anywhere.
But in Art. 125 of the Arbitration Procedure Code of the Russian Federation indicates what information should be in it:
| Full name of the court | information about the parties to the process, including third parties, if they will participate |
| What rights of the plaintiff were violated? | and evidence |
| Information that the plaintiff made attempts to resolve the issue pre-trial | list of papers that the plaintiff attaches to the claim |
The following must be attached to the claim:
| Passports | technical and cadastral |
| Plaintiff's documents | notarized copy of the property certificate |
| A copy of the written refusal | about cost revision |
Sample certificate
The extract must be prepared accordingly.
It states:
| Serial number of the document and the date of its issue to the applicant | and information about the owner |
| Target | with which it is issued |
| Apartment information | such as:
|
| Position, signature and transcript | head of the territorial department of BTI and contractor |
| Cost of premises | and bureau seal |
For documents for registering property rights in the BTI, read the article: registration of property rights in the BTI. How much does a BTI explication cost, read here.
Read the application to the BTI for obtaining a technical passport here.
What is an independent assessment of the market value of a home?
Country real estate is experiencing peak popularity.
The construction of private houses, dachas and cottages is on a huge scale. In such a situation, assessing the market value of the house becomes relevant for property owners. A correctly determined price for a residential building allows you not to undercut when selling it or not to overpay when buying it, and also contributes to the correct calculation of the insured amount when insuring or determining the tax base. Appraisers will evaluate the house and provide a high-quality result - an appraisal report. The company’s specialists have special knowledge in this area, use different techniques, and having information about the situation on the countryside real estate market allows them to carry out comprehensive research and assessment.
Requirements for State Budgetary Institution specialists carrying out cadastral valuation of real estate
GBU employees who determine the cadastral value must meet the following qualification requirements :
- have a higher education in one of the fields: management, economics, mathematics, computer science, geoscience, biology, architecture, technology, applied geology, geodesy, mining, oil and gas, business, agriculture, forestry and fisheries;
- be unconvicted citizens of the Russian Federation;
- have experience in the field of determining cadastral value (from 3 years) - for those who sign the cadastral value report.
Requirements for employees of the State Budgetary Institution for cadastral valuation are prescribed at the federal level in Law 237-FZ, as well as in Order of the Ministry of Economic Development dated July 12, 2017 No. 177.
