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Importance of an appraisal
The importance of an appraisal lies in its ability to provide an accurate and objective evaluation of the economic value of a real estate property. This process is essential in a variety of situations, from the purchase, sale or rental of properties to the application for mortgage loans or resolution of legal disputes, appraisals allow owners, buyers, sellers, financial institutions and other actors in the real estate market to make informed decisions based on concrete data, in addition, appraisals contribute to transparency and fairness in the market by establishing fair prices and competitive, and provide a solid basis for asset valuation and risk management.
The importance of an appraisal lies in its ability to provide accurate and reliable information that supports safe and efficient transactions in the real estate market.
Who can do an appraisal?
A expert appraiser is a certified, qualified and certified professional, supported by a competent institution, has theoretical and practical knowledge in valuation and is authorized to examine issues related to his specialty in both the public and private spheres.
Also known as an appraiser or appraiser, this specialist is dedicated to determining the economic value of goods, properties or assets, with the purpose of offering an objective and impartial evaluation that reflects their fair market value.
Appraisers usually specialize in specific areas, such as real estate, vehicles, jewelry, works of art or machinery, using their experience and knowledge to analyze various factors that affect the value of the property, such as its condition, physical characteristics, age, market demand and geographic location, among others.
The valuations carried out by these professionals are used in multiple contexts, such as commercial transactions, legal procedures, insurance, inheritances, mortgage loans and mergers and acquisitions processes. The opinion and assessment of the appraisers are essential for making financial and legal decisions. based on the real value of the assets.
It is essential to highlight that appraisers must follow ethical and professional standards, and their work may involve inspections, market research, data analysis and the preparation of detailed reports that support their valuation. Their main function is to advise, supervise and control the valuation process of the required assets, with the objective of calculating or estimating their economic value accurately.
Standards that an appraiser must follow
In accordance with the provisions of article 3 of the Regulations of the Federal Tax Code, appraisal experts must have certification granted by one of the relevant institutions, depending on the specific objective of the appraisal in question:
- The Institute of Administration and Appraisals of National Assets
- Financial entities
- Active registrations with the Ministry of Economy
- Federal Mortgage Society.
They must follow a series of standards and ethical principles to ensure the quality, accuracy and impartiality of their evaluations.
Some of the standards they must follow include:
- Knowledge and technical competence: They must have solid academic training and professional experience in the field of valuation, this includes understanding the appropriate valuation methodologies for different types of assets and having up-to-date market knowledge.
- Objectivity and impartiality: Valuation experts must carry out their evaluations objectively and impartially, without being influenced by personal or external interests, and must base their conclusions solely on relevant data and information.
- Confidentiality: They must respect the confidentiality of the information provided by their clients and not disclose details about the valuations carried out without prior authorization.
- Integrity and professional ethics: They must act with integrity and ethics in all their professional interactions, complying with applicable laws and regulations and avoiding any conflict of interest.
- Accuracy and precision: Valuations must be accurate and supported by a thorough analysis of available data, appraisers must use reliable methods and techniques to arrive at realistic estimates of the value of the assets.
- Transparency and clear communication: They should be transparent in their valuation process and clearly communicate the methods used, assumptions made, and limitations of the evaluation to their clients and other interested parties.
- Continuous professional development and updating: They must stay up to date on changes in regulations, techniques and market trends, and seek professional development opportunities to improve their skills and knowledge.Valuation experts must adhere to rigorous ethical and professional standards to ensure the quality and integrity of their evaluations, this is crucial to maintaining trust and credibility in the valuation process and the market in general.
What type of movable and immovable property can be studied by an appraiser?
An appraiser can evaluate a wide range of tangible and intangible assets, depending on their area of specialization and certification:
- Movable property
- Real estate properties
- Equipment (industrial, IT, etc.)
- Jeweler's
- Art
- Companies
- buildings
- Plots (agricultural, urban, forestry)
- Intangible assets (brands and patents)
Importance of an expert appraiser
An appraisal expert, as an expert in the field, provides the guarantee that any appraisal carried out on personal, real or intangible property is supported by a solid foundation, therefore, the technical and precise information provided by the expert is invaluable for the of decisions regarding our assets.
Duties of an appraiser
The specific responsibilities of an appraiser include:
Advice: It is essential that the client understands all the relevant elements and aspects of the environment at play, therefore, one of the main tasks of the appraiser is to provide this information and offer guidance to the client.
Review of supporting documents: The appraiser evaluates the credit application submitted by the client to the bank as evidence of his application, which allows the bank to understand the client's financial movements and their impact on his situation.
Valuation: To carry out an accurate valuation, the appraiser considers various elements of the real estate or personal property, as well as the current market conditions, evaluates and quantifies these elements to determine their value in monetary terms, and presents the result of the appraisal in an official document. and confidential.
Preparation of reports and reports: Valuation experts must maintain a detailed record of all information collected during the valuation process, analyzing the condition of the assets and providing clear and complete reports on their evaluation.
Integrity and professional ethics: It is essential that the valuation expert carry out the valuation process in a transparent manner at all times and guarantee the security of confidential information, therefore, it is vitally important to hire the services of a certified expert who guarantees trust and security. in the process.
