Judicial expertise for the construction and property valuation
Expertise is an expert findings and opinion of an event or occurrence.
Expert report and opinion may serve as evidence in court, but can be used for other professional purposes.
Expert testimony by a certified appraiser includes various professional activities such as:
- Real Estate Appraisal
- registration of real estate
- construction bills
- Other construction expertise
Assessment of real estate is a procedure that determines the value of the property at the present time, taking into consideration the possible legal, economic, urban planning, construction and other impacts in the future tense.
The appraiser of property value has the task of using different methodologies predict the selling price of the property, but also to determine what are the possible income that the property in the allotted time, and that can bring all of that in money terms.
When working on property assessment court expert uses the following methodology:
- Cost method, the method of determining the actual value or a static method
- Comparison method or methods of comparing values
- Capitalization of profits, valuation methods yield or dynamic method
Real estate construction expert assessment may include the following property:
- residential property – flats, apartments, houses, cottages, villas
- commercial real estate – commercial buildings, manufacturing facilities, commercial buildings,
- tourism facilities, sports and recreational facilities, health facilities
- specific property – garages, parking lots, gas stations
- department stores, castles
- site – construction, agricultural
The process of evaluating real estate can be divided into three phases:
- Gathering the necessary documentation
- Investigation and data collection in the field
- Making the study of the property assessment
The purpose of the assessment of property
- obtaining a mortgage loan to citizens or companies
- in real estate, ie helping the seller in determining the reasonable price, ie, help the customer in determining the bid price
- probate division
- enforcement proceedings
- insurance payments after damages
- revising the book value of fixed assets in the financial statements
- determine the liquidation amount in the event of a forced sale or bankruptcy
- investment decisions and feasibility studies
- determine the viability of business acquisitions
- other business transactions
The content of the study
- photographic documentation
- dimensional object
- market value of the building, including land
Sudividing real estate
Flat or any other space in the facility, according to the Law on Ownership and Other Property Rights (Narodne Novine 91/96), is treated as a co-ownership of the entire building, which belong to a proportionate share of common areas as well as a proportionate share of the land on which the facility is built.
Subdividing is a technical – administrative – legal procedure that establishes the condominium.
Condominium is an ownership of an apartment or another private room, coupled with the appropriate co-ownership of real estate consisting of land with a building or the construction rights to the building.
Why is it necessary to subdivide a property?
The only legal proof that you are the owner of an apartmen , office space or other real estate is an excerpt from the land registry.
If you perform the process of subdivision, you can perform the following actions:
- obtaining a mortgage loan
- purchase or sale of real estate
- division of family property
- probate division
- determination of individual co-owners in the costs of managing and maintaining the facility
Procedures for subdivision
- Collection of technical documentation and comparison with the actual situation
- Surveying the building and drafting in the event that there is no technical documentation
- Making registration of the study, which consists of:
- Table display types and sizes of space
- Table display of property of specific and common parts of the building
- Proposal for the distribution of specific and common parts of the building
- Proposal for the distribution of building land subject property with respect to the shares owned by the separate parts of real estate
- Graphic part of the study marking certain specific parts of the property and property rights in a particular part of real property
- Proposal for land registration
- Designing the “General Conditions” that determine the relations of co-owners and the use of property
- Designing the “Agreement” on the acceptance of the study, which is signed by all co-owners (provided in the Land Registry)
Construction cost estimate
Construction cost estimate is an estimate of the total value of work or group of works in construction.
Such an estimate is obtained based on the product of the quantity and unit price of each work (including construction material and equipment).
Likewise, the court expert with his license and professional independence, guarantees a price of real market.
Each of the following cost estimates can be informative and detailed, and, depending on the subtype, detailed statement of the material.
Svaki od dolje navedenih troškovnika može biti informativni i detaljni, a ovisno o podtipu i detaljni sa iskazom materijala.
Construction cost estimates can be divided into the following types:
- Construction cost estimate for preparation for construction
- The overall construction cost estimate
- Construction cost estimate for the complete investment
- Construction cost estimate for maintenance
- Construction cost estimate for reconstruction
- Construction cost estimate for the completion of construction
- Construction cost estimates of adaptation
- Construction cost estimate of rehabilitation
- Construction cost estimate for the bank
- Construction cost estimates of investments in real estate
Other construction expertise
Building expertise encompasses a range of different professional activities performed by an expert construction or architect, who is appointed by the court.
Building expertise in short encompasses a range of professional activities that define:
- The quality and quantity of work performed on a particular object
- Identification of defects in the building
- The percentage of completion of the building
- Price of certain derivative works
- Shot of the current situation when downloading the object or area
- Identification of damage to individual facility due to various causes (natural disasters , poor quality materials, poor performance, higher power, etc.)
- The value of individual remediation of damage to the property caused due to various causes
- The reconstruction of events and responsibilities on the site using the construction documents (projects, book building, building log, logs, etc.)
- Securing evidence which is a legal term that encompasses the above actions, and is performed at the request of the parties at the respective municipal or commercial court.