The need to know the value of a property to prepare a transaction or draw some conclusions within your own business is often. However, if the proper appraisal must be conducted conscientiously in the form of a full report, it would be a big deal with a high cost. Prospec, therefore, provides a solution that meets the needs of customers who do not require a full report to use in transactions in order to save money and quicker process, for example, want to know the value to set the purchase price, prepare funding sources, shareholder fundraising, feasibility studies, etc. The principle of preliminary appraisal is an in-office appraisal. The valuer does not have to survey the property’s location, certify the condition of the location of the property and certify the right documents. The client will certify the following information. Therefore, the resulting appraised value may have a deviation if the customer provides inaccurate details, especially the size of the building in square meters. However, when it is time to use the full report, the valuer will measure the building size at the location to confirm and calculate the exact appraisal value again.
Procedure for requesting a preliminary appraisal value service:
- The customer prepares the information to send to the valuer for initial consideration, such as details of the land title deed, location of land, title deed number, number of title deeds, land area, list of buildings on the land, number of units, building area, utilization, etc.
- The valuer informs about the availability of market information in that area to be able to provide a preliminary appraisal service. Scope of Service and then the customer pays for the service.
- The customer fills in the property information according to the specified form and sends attachments such as a copy of the title deed, a photo of the property inside and outside and other additional documents as requested by the valuer.
- The valuer may request additional interviews with the client for more information regarding the property while conducting the valuation report in case there is any doubt.
- The valuer concludes the property in the form of a certificate of the company delivered to the customer to use in their business initially.
- After the customer has used the preliminary analysis, please contact us to request a full valuation report if they want the report to be utilized in the transaction with third parties. This time, the valuer will conduct a detailed survey of the property once more. If information is found on-site that differs from what was reported, it may cause the finalized price to change from the original, and the final price summary will be relied upon.
