- What is an appraisal report for?
- Why is value so important?
- What are the consequences of an incorrect report?
- What is the situation with more than one property?
- Why is a legal check necessary?
The appraisal report is one of the most important documents of the file in citizenship applications with the purchase of real estate. Because it is determined by this report whether the immovable property really carries the investment value sought for the application. The expertise report is not only a technical document; it is one of the legal cornerstones of the citizenship file.
The value of the immovable to be used in the application must be compatible with the sales price in the title deed. The expertise report reveals the market value of the immovable property as a result of an independent and authorised assessment. This value is used to determine whether the application complies with the legislation. Therefore, low or high values may cause serious problems.
The error in the appraisal report is not only a numerical inaccuracy. Miswriting the nature of the immovable property, incorrectly stating the area, incomplete examination of the ownership status or incorrect evaluation of the location of the immovable property may cause the rejection of the application. Therefore, the report must be prepared by reliable and authorised institutions.
If the application is to be made with more than one immovable, the value of each immovable should be examined separately. Even if the sum of the values is sufficient, if the legal qualifications of the immovables are not appropriate, the application may cause problems. Therefore, the appraisal report alone is not sufficient; it should be evaluated together with the title deed examination.
Some applicants consider the appraisal report as a mere procedure. However, for the administration, this document is one of the main ways to understand whether the immovable is a real investment or not. Especially collusive transactions, unrealistic prices and incomplete assessments are revealed at this stage.
The appraisal process is the bridge between the purchase of immovable property and citizenship. If this bridge is not established firmly, the application file collapses. Therefore, it is necessary to be careful in the preparation, control and attachment of the report to the file.
In conclusion, the expertise report is not only a technical document, but also a document that has direct legal consequences. Everyone applying for citizenship should evaluate this document meticulously.