General requirements for the procedure to conduct an independent assessment of the property
An independent evaluation precedes the preparatory phase, which is carried out: introduction to the subject, the specific conditions of the transaction, to conclude the evaluation, the definition of the basis of valuation, presentation to the customer suggestions for the essential conditions of the contract to conduct the assessment.
An independent valuation of the company (enterprise, property, equipment, stocks, land, etc.) is conducted in the following sequence:
- familiarization with the object, the collection and processing of source data and other information necessary to conduct the assessment;
- identification of the object and associated rights, analysis of possible limitations and caveats that may accompany the procedure for evaluation and use of its results;
- selection of the necessary methodological approaches, methods and evaluation procedures that meet the purpose of assessing and selected basis, as defined in the contract for the evaluation and their application;
- harmonization of evaluation results obtained using different methodological approaches;
- of a report on the evaluation of property and the withdrawal of the value of the subject being assessed on the valuation date;
- completion (update) the record and display the value of the subject being assessed with a new date (if necessary).
Estimator own searches for information sources (except for documents, the disclosure of which is to provide customer evaluation in accordance with the contract), their analysis and presentation of valid conclusions. In this case appraiser must analyze all information sources associated with the object, the trends in the market of such property, information on transactions concerning such property to be used in case of a comparative approach, and other important information.
Assessor collected baseline data and other information to be displayed in a report on the assessment of property with reference to their source and in the annexes to ensure confidentiality in accordance with the terms of the contract to assess the property.
- Articles 7.12 Law of Ukraine № 2658-III of 12 July 2001 «On the assessment of property, property rights and professional appraisal services in Ukraine";
- p.p.50-55 Resolution of the Cabinet of Ministers of Ukraine dated 10 September 2003 № 1440 National Standard number 1, "General framework for the assessment of property and property rights";
- Order SPF number 100 (74/610) "On the procedure of expert evaluation of state property for privatization" of March 20, 1995