The practice of issuing loans and secured loans is very common. It is adopted by both individuals Property valuation who need to receive a tangible amount in their hands, and companies that often pledge their property to expand their business or reorient themselves.
But not a single bank will issue a secured loan without a preliminary assessment of the property that is supposed to be pledged. And here professional appraisers, such as employees of the Alliance-Ukrekspert company, come to the rescue.
We appraise a wide variety of properties, from common real estate or cars to rarer options such as factory equipment or rail vehicles.
How is the assessment procedure carried out?
- The appraiser conducts a visual appraisal of the property.
- Then he analyzes the market, compares it with current offers of similar objects.
- For the assessment, special statistical and mathematical formulas are used, thanks to which you can accurately derive the estimated value of your object.
- The specialist draws up all the results of the assessment in a proper way so that you can present the finished documents to the bank employees.
What aspects should be considered when choosing an appraiser and ordering an appraisal of the value of property for collateral?
- Choose valuation experts who know the market of Ukrainian financial institutions from the inside. Typically, these appraisers have excellent connections with experts in the field of lending. For example, employees of Alliance-Ukrekspert constantly keep their finger on the pulse and know all the intricacies of the procedure for issuing secured loans, and their assessment reports are easily accepted by any banks in Ukraine.
- Remember that the property valuation report has a statute of limitations. For example, if you order it in parallel with the submission of documents to the bank, you will quickly receive a report, but the consideration of your loan application may be delayed. And as a result, by the time you receive a decision, you will have to reorder the assessment. It is better to submit documents and only after its approval by the credit committee of the bank, order an assessment.
- Remember that it is the work of the appraiser and his conclusions that determines the amount that you will agree on for issuing loan obligations. Therefore, it is better to choose a competent appraiser in order to get the real value of your property – and, as a result, an adequate loan amount.
Valuation of property for provision as collateral is a popular procedure. And our company knows a lot about it.