The need to have the value of an apartment (flat) independently appraised can be caused by both the requirements of the law and the desire of owner (or buyer) of apartment
to have independent professional confirmation of its market value.
Here is a list of the most common situations when independent valuation of apartment (flat) is required by law in Russia:
In other situations, an independent valuation is not officially required, but often appeared to be very helpful. The following are examples of such situations:
We specialize in appraisal of apartments (flats) and other types of housing in Moscow and Russian regions and we have been operating as independent appraisers in this market sector for more than 20 years now.
Where to begin if you need apartment appraisal?
If you have already decided to have the apartment (flat) independently appraised, then you can e-mail us all known details of the subject apartment
(at the very least - its accurate postal address) and attach copies of any relevant documents in your possession. Then we will e-mail you a quotation together with a draft of valuation agreement.
If you accept our offer, then we sign the agreement and will commence valuation according to its terms.
If you just need a brief quotation or have a specific question, please e-mail us or call +7 495 726-86-74 from 10.00 to 18.00 Moscow time.
Inspection of the subject apartment.
Depending on client’s requirements, valuation can be done with or without inspection of the subject apartment. Russian legislation does not prohibit an appraisal without inspection of
the subject property, so inspection is not a prerequisite for conducting apartment valuation. Valuation can be done based on available documents and information, without
inspection of the subject apartment by our appraiser. However, inspection is strongly recommended as it helps to get more accurate appraisal result.
The final result of apartment appraisal is prepared in the form of a written valuation report, which, depending on client’s requirements, can be either full-sized or shortened.
Full-sized valuation report contains a detailed description the subject apartment, survey of local apartments market and the entire description of the appraisal process, including all market data used.
According to Russian law, valuation report, signed and stamped by the appraiser, has the legal status of evidentially significant document.
A shortened form of valuation report contains only essential data – brief description of the subject apartment, details of ownership and appraiser’s conclusion on the apartment market value.
To our valuation reports, we always attach certified true copies of relevant credentials (certificate of membership in a professional organization of independent appraisers, a valid qualification
certificate(s), an obligatory professional liability insurance policy for an appraiser, a compulsory liability insurance policy for a company, and a appraiser's diploma in obtaining his professional degree.
Thus, anyone reading our report can always see who did the appraisal and check the professional competence of the expert(s) who signed the report.
Depending on purpose of appraisal, the valuation report can be composed either in English or in Russian language, according to international or Russian valuation standards.
Completion of the report usually takes up to 10 business days after signing of the valuation contract. Completed valuation report can be sent to client by mail (paper document)
or e-mail (electronic document) or both.
The absence of some (or even all) documents, although it complicates our work, is not an insurmountable obstacle to the valuation.
In case of the absence of required documents, the value of the subject apartment can still be determined by making certain assumptions and indicating these assumptions in the report.
The result is likely to be less accurate, but it will be the only possible solution in this situation.
For many years of our professional activity we have been constantly monitoring apartments price changes on residential property market in Moscow
and we summarized our experience in our online calculator for instant apartment appraisal.
You can use this free online tool for a rough estimate of the market value of an apartment (flat) in Moscow.
With this calculator, the apartment’s value can be calculated not only on the current date, but also on the past date (up to October 2008).
Moscow Apartments Online Price Calculator
Please note that the calculator gives only a rough indication of apartment’s value, therefore for the full and accurate appraisal please contact us.