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OFFERED SERVICES

Offered Services

We render property evaluation and revaluation services in line with the  professional and ethical principles, methods and standards promoted by ANEVAR (National Association of Romanian Valuators), with the purpose of assessing the value of a property as close as possible to the value determined by the market transactions. The evaluation process generates an evaluation report. 

Particularly we draw up evaluation reports for various types of real estate, such as: apartments; houses, mansions; shopping facilities; office facilities; industrial bays or storage facilities; production facilities; special constructions; residential areas with or without buildings on them, non-residential areas, agricultural lands.

Value is a conventional feature of an item, which is determined following calculations or an expert examination.

The following types of values are estimated:

  1. Market Value: According to the eighth edition of the International Valuation Standards IVS, 2007, it is „the estimated amount for which a property should be exchanged on the date of valuation between a willing buyer and a willing seller in an arm’s length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently, and without compulsion”.
  2. The Investment (or subjective) Value is defined as the value of a property to a particular investor or class of investors for individual investment or operational objectives. It is a subjective concept that relates an individual property to an individual investor, group of investors or entity which have identifiable investment goals and/or criteria.
  3. The Fair Value is the amount for which an asset can be exchanged between two willing knowledgeable parties in an objective transaction at objectively determined price. The International Financial Reporting Standards (IFRS/IAS) define the fair value as equal to the market value. IVS 2 however see the fair value as a concept wider than the market value. 
  4. The Specific Value is an amount of money in addition to the market value which reflects the special features / characteristics of an asset which have a value only for a specific buyer. A specific buyer is a buyer for whom an individual asset has a specific value owing to the advantages arising from the title thereof which are not relevant for other buyers. The specific value may occur when an asset has some features / characteristics that make it more attractive to a specific buyer or a limited category of buyers unlike other buyers. Such features / characteristics may refer to physical, geographical, economic or legal aspects of the asset.
  5. The Synergistic Value is an additional value item, which is created by the combination / merger of two or several properties, where the value resulting from combination / merger is higher than the sum of the individual property values. The synergistic value may be a form of specific value, which occurs particularly in the combination of two or several assets from which a new asset arises at a value that is higher than the sum of the individual assets. 

These values can be assessed using three major evaluation methods:

  1. Net Replacement Cost  - is the main evaluation method for the fixed assets necessary for operation. It is a procedure outside the market in which the result is conditional on appropriate potential profitability and medium- and long-term reliability.
  2. Income-Based Method – is part of the investor’s view, when they wish to purchase the future income-generating capacity of a property. 
  3. Comparative Method – is based on a logical process in which the market value is determined by analyzing the transactions with similar and relevant properties, comparing those properties to the evaluated property and finally assessing the value of the evaluated property using conversion keys. The sale prices are analyzed using appropriate comparative items and are adjusted according to the differences between the comparative items and the evaluated asset / property. This method serves most often for evaluating the market value and the liquidation value.