How the evaluation of land piece can be carried out? What documents are given as the result of evaluation? How much does the procedure cost and how much time does it take? What are the differences in estimation of land plot in Kyiv and in Kyiv region?

The procedure of independent estimation of land plots takes in general 4-5 days. The cost of service of estimating companies includes 800 hrn and more depending on square, location, presence of not finished building.

Method of estimation

The estimation of land plot is not a simple task. According to the Law of Ukraine "About estimation of property, ownership rights and professional estimation activity in Ukraine", the Law of Ukraine "About land estimation" and method of expert estimation of Ukrainian land property sites the estimation process if carried out by several ways:

• incoming way (capitalization of pure income from utilization of land plot)
• comparative (comparing of the cost of sale of similar Ukrainian properties)
• approach of land residue (evaluation of the expands for the land real estate in Ukraine improvement)

Every from the mentioned approaches has its own peculiarities and specificity of using.
While estimation of land plots the comparative method (market approach) is the most attractive as it is mostly focused on market. The difficulties of its utilization are in the absence of developed land market as well as not developed amendments influencing the price.

Income approach is used in the case when the land plot is utilized for the benefit from the agricultural activity or its leasing separately from the buildings and establishments, i.e the cost of the plot reflects its possibility to bring the income in future.

The approach of land residue is utilized while estimation of improved land plots. The evaluation of expands for the land plots, in this case, is realized on the basis of market cost of these improvements in the condition of the most beneficial usage of this plot.

Procedure of estimation

In general the procedure of expert evaluation includes several stages:

• collecting of data that influence the price of the Ukrainian real estate for sale
• analysis of the most effective utilization of land plot
• choice of methods of estimation

Documents

The documents that the customer gets after the estimation process are: report as for the carrying out of the independent estimation of land plot with indication of property name, purpose of estimation and data of estimation realization, description of land plot, plan and characteristics of the Ukrainian property, analysis of the most beneficial utilization of the land site, price fixation for the property, conclusions of expert as for the price for land piece.

The report about estimation of land plot is formed according to Methods of expert estimation of land plots from 11.10.2002 №1531. The plan is also added to the report.

Evaluators

The estimation of land can be carried out by the juridical persons who have the license for the holding of agricultural activity as for the estimation of land, given out by the State Committee of Ukraine as for land resources or by Fund of state property of Ukraine.