When agencies and organizations conduct a valuation of properties according to the provisions of law, they must make appraisal certificates. The valuation certificate is made in writing and clearly states the results of the appraisal process. So what does the content of the appraisal include and how is the validity of the appraisal certificate regulated?
What is a Certificate of Appraisal?
Under the Price Law 2012 stipulating the valuation certificate, according to that, the valuation certificate is the document prepared by the valuation enterprise to notify customers and related parties about the basic contents of the price appraisal enterprise. report on appraisal results.
After the appraisal, what does the customer get?
Valuation or asset valuation is a legal profession in the banking and finance industry. In other words, after the valuation, the papers recording the valuation results will be legal and recognized by the legal authorities. Property owners can use such documents for certain purposes under the signed appraisal contract.
After the valuation, the property owner will receive a Valuation Certificate and a detailed report on the property valuation conducted by the appraisal unit. It will clearly show the legal information of the property, the value of the property, the appraisal method, the purpose of the appraisal, the appraiser performing the appraisal, the legal term of the deed, and the appraisal report.…
As can be seen, digital certificates play an extremely important role as a result of related parties considering, deciding, or approving the price for the assets of individuals, agencies, and organizations that are owners. own or have the right to use the property as prescribed by law. The content of the valuation certificate clearly states the purpose of the valuation, so the valuation certificate must be used strictly for the purposes stated in the price appraisal contract within the valid time limit of the appraisal as well as the price. recorded in the report on valuation results and the valuation certificate.
Term of appraisal certificate.
According to Clause 7 of Vietnam Valuation Standard No. 05 Valuation process promulgated together with Circular No. 28/2015/TT-BTC dated March 6, 2015, of the Ministry of Finance regulating determining the time limit for The validity of the valuation results is as follows:
"The validity period of the valuation results is determined based on legal, economic, and technical characteristics of the appraised asset; legal and market fluctuations related to the appraised property. price and valuation purpose but not more than 6 (six) months from the effective date of the valuation certificate."
Thus, an appraisal certificate is valid for no more than 6 months. When the above time limit expires, it is necessary to conduct a re-valuation from the beginning to determine the most accurate value of the property.
Why is it necessary to re-appraise the propertys price when the appraisal certificate expires?
As mentioned, the appraisal certificate and appraisal report are legal documents that determine the value of a property. The value of assets often fluctuates after a certain period, especially assets such as real estate and business values. Therefore, to ensure accuracy and avoid loss of property value, after 6 months (from the date of issuance of the appraisal certificate), customers need to re-appraise the price of that property.
When conducting a re-appraisal of an asset, the unit performing the valuation needs to start over from the beginning of the appraisal process to make the most accurate and objective assessment.
VIETNAMS LEADING REAL ESTATE ASSESSMENT UNIT
SunValue – Vietnams Leading Real Estate Appraisal, Vietnams Leading Brand 2023, Strong Asian Brand 2021, and National Brand that has actively contributed to the development of the appraisal industry in Vietnam with a system of nearly 50 branches and transaction offices across the country. As a reputable, independent appraisal unit with more than 20 years of establishment and development, pioneering the application of technology in the appraisal, helping to monitor real estate price fluctuations, and completing price data to support development. Vietnam and international real estate market development.
For property valuation documents to prove that the property is for study or settlement purposes, SunValues deed will be made and issued in English, ensuring the most accurate language. subject as well as by international standards, is legal and is accepted in the procedures to prove assets to study abroad or immigrate.
With a fast implementation process, quality, free consulting services, appropriate appraisal costs, confidential information, along with a reliable source of price data will bring the best experience to customers.
SunValue – National brand that has actively contributed to the development of the appraisal industry in Vietnam.
