To establish the market value, the appraiser uses different evaluation methods: the parity, cost and income methods.

In determining the value, the following three important elements differentiate the appraiser from other members of the real-estate community:

1. Value opinion: by applying the appropriate evaluation methods.
2. Motivation: the appraiser must justify, with supporting evidence, the basis used to estimate the value.
3. Date of the evaluation: the real estate market is generally progressive and values vary over time. The values are always calculated as per a given date.

Some other elements are also important and must be taken in consideration:

• Location of the evaluated property;
• General conditions and characteristics;
• Detailed analysis of comparable property sales’ market.

Market value for:

• Purchasing or selling
• Obtaining a mortgage
• Financing a new construction or renovations

Partition of the family patrimony

Settling of estates

Contesting municipal assessment

Mortgage

Insurable value (Replacement cost)

Expropriation

Expert witness in court