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Construction in progress valuation

Generally, construction in progress valuation is applied to properties such as buildings or facilities. In order to make an objective valuation of the construction in progress it is necessary to classify correctly the unit of construction in progress valuation. Construction in progress valuation uses several methods of unit’s classification. The most significant for the valuator is the classification from the view point of availability in unfinished facility of the possibilities to act as income generating properties. Most of the public buildings and facilities as well as residential buildings can be used as income property. Evaluation of construction in progress with these types of unfinished real properties generally uses the cost and profitable approach.

 

List of documents required for valuation of the construction in progress:
  • Information about the Customer:

    For legal entities: full name, an extract from the register of legal entities, the registration certificate
    For individuals: Customer full name, telephone number, number and series of identity document, date of issue and the authority issued the specified document
     
  • Title documents to land on which facility is situated (sale-purchase agreement, title, lease contract and others)
  • Extract from real estate register
  • Construction activities authorizing documents
  • General explanatory note to the construction project
  • Date of work commencement and            presumable construction completion date
  • Information about the structural system
  • Precise build-up area
  • Overall degree of completion of construction and degree of completion on individual elements