- The bank needs to know the real market price of the apartment on the day of the transaction, that is, what is the value of the collateral for the loan. The bank must be sure that the price of the apartment is not inflated.
- The physical condition of the house, the degree of wear and tear, as well as the condition of the apartment itself. The house should not be dilapidated or have plans for demolition or reconstruction. Most banks allow the level of wear and tear on a house to be no higher than 60%.
- Availability of redevelopments. The bank will not take as collateral an apartment with illegal significant alterations that are difficult to restore to their original form.
These are the main points that affect the quality of the collateral and its liquidation value.
The higher the quality of the collateral, the higher its liquidity and, accordingly, the lower the risk for the bank. If the borrower cannot continue to pay the loan, the bank will take the apartment. The bank will be able to sell liquid real estate faster.
Documents that will be required to evaluate the apartment:
- title documents;
- BTI documents: floor plan or explication (for apartments near Moscow - technical passport).
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
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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.
Who are the judges?
Having understood the essence of the assessment, you can move on to the question of who is conducting this necessary event, and decide “at whose expense the banquet will be paid.” Our expert says that the procedure can be carried out either by the bank itself or by an independent appraiser. In the first case, the service will be provided free of charge to the client.
“The bank undertakes assessment obligations when, for example, it is not intended to issue a mortgage for the transaction. An independent assessment is indispensable when taking out a mortgage, and it is done in most cases. It is done by an appraiser who meets certain requirements. For example, he is a member of one of the self-regulatory organizations and has a qualification certificate with permitted areas of assessment.”
In other situations, the borrower will have to pay for the appraiser's work. The final amount depends on the type of object (apartment, share in it, private house, commercial or non-residential real estate), the region in which it is located, the area and location of the object itself, and additional services provided by the appraiser.
Basically, the bank accepts reports from those companies that have passed the accreditation procedure and inspire confidence in the lender. Despite the fact that, by law, banks must accept results from any company chosen by the borrower, experts still recommend using the services of trusted appraisers, since their database is quite large. This will save you from unnecessary hassle with complaints about an incorrect evaluation album and save your time.
The activities of appraisers are regulated by the relevant federal law “On appraisal activities in the Russian Federation.” Before giving preference to one or another organization, it makes sense to call several of the list that they will give you at the bank and find out how quickly it is possible to go to the site (standard - 1-2 days), how long it will take to prepare the documents (usually , a little less than a week) and approximately how much you have to pay.
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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
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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.
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.
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
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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.
Assessment report in litigation: its role and possibility of challenge
An expert opinion has a higher evidentiary value than an assessment report. And if there is an assessment report and an expert opinion in the case file, the court will most likely give priority when assessing the evidence to the expert opinion.
The assessment report can strengthen the position of the party in the case in whose favor the expert opinion turned out if it also confirms the relevant circumstances, that is, it correlates with the expert opinion.
An expert opinion can be given on an assessment report in order to verify its validity (for example, an expert opinion on a report on the assessment of the market value of a land plot, aimed at refuting the reliability of the cadastral value), which also indicates its more important evidentiary value (Resolution of the Federal Antimonopoly Service VSO dated 24.01 .2013 in case No. A33-16693/2010).
And what, the expert opinion cannot be overcome in any way?
It is possible, a negative review will help with this, from the content of which it follows that the examination carried out does not meet the established requirements.
Even if a review of an expert opinion is given by an expert, the court will not accept such a review, since it is given outside the framework of the court case and on the initiative of one of the parties interested in the outcome of the trial. Since the expert giving the review is not warned of criminal liability for giving a knowingly false expert opinion under Art. 307 of the Criminal Code of the Russian Federation, such a review does not have the force of an expert opinion (Resolution of the Federal Antimonopoly Service dated December 24, 2012 in case No. A12-21778/2011).
Thus, a review of an expert opinion differs from the expert opinion itself, which must be taken into account even in the case when it was received outside the framework of a court case and in the absence of information about the expert’s warning about criminal liability.
It is taken into account by the court when making a decision along with other evidence presented by the parties (Resolution of the FAS VSO dated April 16, 2014 in case No. A19-2754/2013).
Such a review is a subjective opinion of a private person, as a result of which it cannot be admissible evidence refuting the reliability of the examination carried out in the framework of a court case (Resolution of the Federal Antimonopoly Service dated 01.08.2014 in case No. A49-3623/2013, decision of the court on intellectual rights dated 10.06.2014 in case No. SIP-210/2013).
However, a review of an expert opinion, if there are several expert opinions in the case containing mutually exclusive conclusions , creates the opportunity to appoint an additional examination in the case , which the parties to the process must insist on (Resolution of the Federal Antimonopoly Service of the Moscow Region dated May 11, 2012 in case No. A40-96317/10-45 -707).
In a review, the expert opinion can be subjected to critical analysis, all the shortcomings made by the expert can be analyzed in it, for example, the use by the expert of information that became known after the date of assessment (clause 14 of the Federal Assessment Standard “Types of examination, the procedure for its conduct, requirements for the expert opinion and the procedure for its approval" (FSO No. 5), approved by Order of the Ministry of Economic Development of Russia dated July 4, 2011 No. 328).
The presence of such shortcomings will allow the participant in the process to insist on an additional examination of the case (Resolution of the Arbitration Court of the Moscow Region dated August 27, 2014 in case No. A40-72557/12-14-673).
If your assessment report is refuted by an examination carried out on the case , the conclusion of which contains different conclusions, you can submit a negative review of such a conclusion and file a petition for an additional or re-examination of the case .
How can I challenge an assessment report?
In accordance with the clarifications of the Supreme Arbitration Court of the Russian Federation dated May 30, 2005 N 92 “On the consideration by arbitration courts of cases challenging the valuation of property made by an independent appraiser”, it is possible to challenge the reliability of the value of the value of the appraisal object , which was determined by an independent appraiser by filing a claim, only if a law or other regulatory act provides for the obligation of such a value for the parties to the transaction , government body, official, and management bodies of a legal entity.
For example, the mandatory nature of the value of the valuation object , established by an independent appraiser, is provided for when paying for shares in the authorized capital of a joint-stock company with non-monetary property (clause 3 of Article 34 of the Federal Law of December 26, 1995 N 208-FZ “On Joint-Stock Companies”) in the event of a repurchase of shares ( Clause 3 of Article 75 of the Federal Law of December 26, 1995 N 208-FZ “On Joint-Stock Companies”).
If a law or other regulatory act obliges the parties to a transaction, a government body, an official, or the management bodies of a legal entity to engage an independent appraiser (mandatory appraisal) without establishing the obligatory value of the valuation object determined by him, then it must be borne in mind that the appraisal given to the property by the appraiser, is only advisory in nature and is not mandatory. Therefore, challenging it independently by filing a separate claim is not allowed.
The assessment report may be independently contested with a request to have it declared invalid.
You can object to the assessment report if the procedural opponent sends it as evidence. In this case, it is not necessary to file a counterclaim to invalidate the assessment report, since the court, on the basis of Art. 71 of the Arbitration Procedure Code of the Russian Federation will take into account objections to the assessment report and give it a legal assessment along with other evidence.
What objections will the court take into account?
Your objections to the unreliability of the assessment report must be supported by specific evidence that excludes the use of the assessment report as admissible evidence in the case:
