Frequently asked questions

An ANEVAR authorized valuer is a professional listed in the Register of the National Association of Authorized Valuers in Romania, who prepares valuation reports according to the applicable professional standards. From the valuer, you receive a documented opinion of value, not a simple verbal estimate or a promise of price. The report explains the purpose of the valuation, the asset being valued, the documents reviewed, the assumptions, the methods used, and the value conclusion at a specific date

The check is made through the public “Search for Valuers” tool on the ANEVAR website. You can search by name, membership card number, county, or specialization. Do not rely only on a business card, a verbal recommendation, or a presentation page. Search for the valuer’s name, check whether they appear in the Register, and confirm the specialization relevant to your purpose. For real estate, the usual specialization is EPI – real property valuation.

For apartments, houses, land, commercial spaces, industrial halls, or other real estate properties, the relevant specialization is usually EPI – real property valuation. The specialization matters because the report must be appropriate for the subject and purpose of the valuation. For determining the taxable value of buildings, the applicable rules require authorized valuers with EPI specialization or corporate members under the conditions provided by ANEVAR.

You may need a valuation for a bank loan or securing a loan, sale or purchase, financial reporting, taxation, property division, inheritance, disputes, mergers, contributions in kind, insurance, or internal asset management decisions. The purpose matters a great deal, because it influences the basis of value, the documents required, the intended users of the report, and the way the report is drafted. That is why, before contracting, it is important to state exactly what the report will be used for.

Usually, the ownership deed, land registry extract, cadastral documents, measured survey or plans, identity documents or company documents of the owner, and information about the exact address are required. Depending on the case, building permits, acceptance upon completion documents, documents regarding modifications or extensions, lease agreements, accounting statements, and information about utilities, disputes, easements, or other encumbrances may also be requested. The final list depends on the property type and the purpose of the valuation.

The inspection is generally an important stage of the valuation, because it allows the identification of the physical characteristics, condition, finishes, access, surroundings, and possible visible inconsistencies. In certain situations, limitations or special procedures may exist, but these must be disclosed in the report. A valuation carried out without sufficient inspection may have more serious assumptions and limitations. For the owner, the inspection is a good opportunity to clarify works, improvements, technical issues, or differences from the documents.

The timeframe depends on the property type, the purpose of the report, the complexity of the file, the availability of documents, the scheduling of the inspection, and the amount of analysis required. An apartment with clear documents may be faster than a commercial building, a plot of land with complex urban planning regulations, or a portfolio of properties. A realistic timeframe should be discussed before contracting. A rushed valuation, without complete documents or without time for analysis, can create risks for both the report and its beneficiary.

The fee depends on the purpose, property type, location, complexity, available documents, deadline, need for inspection, risk level, and workload. Not all valuations are comparable. A studio apartment for lending, an industrial hall, a hotel, development land, or an asset portfolio involve different analyses. Price matters, but it should not be the only criterion. A weak, incomplete, or unsuitable report can become much more expensive than the initial fee difference.

Value is determined through professional analysis, not through a single formula applied automatically. The valuer analyzes the property, documents, location, technical condition, use, market, comparables, possible income, and risks. Depending on the purpose and available data, the market approach, income approach, or cost approach may be used. The conclusion must be reasoned and appropriate for the valuation date. It is a professionally supported opinion, not a guarantee of sale at the same amount.

Not in a professionally correct way. The valuer should not deliver the figure desired by the client, but an opinion of value supported by data, analysis, and standards. You may provide relevant information, documents, listings, contracts, or observations about the property, and the valuer must analyze them. However, pressure for a specific value is a major risk. If you need a certain amount for lending, sale, or taxation, the report must not be artificially adjusted to meet that need.

The sale price is the amount negotiated or requested in a transaction, while the value in the report is a professional opinion formulated for a purpose, at a date, and on a basis of value. Price may be influenced by emotions, urgency, negotiation, financing, included furniture, relationships between parties, or incomplete information. Valuation attempts to analyze the market and the property in a more objective way. Therefore, price and value may be close, but they are not automatically identical.

Market value is an opinion of the estimated amount for which the property could be transacted between informed and independent participants under market conditions. Taxable value is used to calculate building tax and is determined according to the fiscal rules and standards applicable to that purpose. A report for taxation may be suitable for the local authority, but unsuitable for a bank or for a sale. That is why the purpose of the report must be clearly stated from the beginning.

Not always. The valuation report is prepared for a declared purpose and for identified users. A report for lending may have the bank’s requirements. A report for taxation follows fiscal rules. A report for court or property division may have file-specific requirements. Using the same report in another context may be incorrect or even refused by the receiving institution. Before ordering the report, state exactly where it will be used.

Missing documents do not automatically block every valuation, but they may delay the process, introduce assumptions and limitations, or make the report unusable for the institution requesting it. Differences in area, uncorrelated addresses, extensions without documents, missing acceptance upon completion, land registry encumbrances, or disputes may affect value, financing, and acceptance of the report. It is better to disclose the issue from the beginning than to discover it late, when the deadline is already pressing.

Relevant information about the property should be disclosed: works performed, renovations, extensions, access issues, disputes, easements, rents, contracts, occupancy level, known defects, changes of use, or situations that may influence use and value. The valuer analyzes documents and the market, but also needs correct information from the beneficiary. Hiding a problem does not help the report; it can create a fragile, challengeable, or unusable conclusion for the intended purpose.

The report is prepared for the client and the users declared in the report. It should not be assumed that any person or institution can use it for any purpose. The valuer has confidentiality obligations, but the report may be sent to the users for whom it was prepared, such as a bank, auditor, local authority, court, or contractual beneficiary. If you want to use it for several parties or contexts, discuss this before contracting so that the purpose and users are properly stated.

There is no universal validity period for all reports and all purposes. The report has a valuation date, and the value conclusion is connected to the information, market, and assumptions valid at that date. Some institutions, such as banks or authorities, may have their own acceptance periods. If the market changes significantly, if new documents appear, or if the property is modified, an update or a new valuation may be necessary.

Location influences access, demand, liquidity, surroundings, and possible use. Technical condition influences maintenance costs, risks, and attractiveness for buyers or users. Renovations may help, but they do not automatically turn into value equal to the amount invested. The market pays for usefulness, quality, functionality, and the absence of surprises. Sometimes, the most valuable improvements are clear documents, good installations, proper maintenance, and an efficient layout.

For leased or income-generating properties, the valuer may analyze lease agreements, rent, contract duration, guarantees, costs borne by the owner, occupancy level, payment history, tenant quality, and market rent levels. Value may depend not only on area and location, but also on the stability and sustainability of income. A good contract may support value, while an uncertain, below-market, or difficult-to-terminate contract may raise risks.

Send the institution’s observations to the valuer and request a documented response. Sometimes additional information, supplementary documents, or clarification of assumptions is necessary. If there is an objective data error, it may be corrected. If the difference relates to the opinion of value, the valuer should explain the reasoning, not change the conclusion without support. It is important for the dialogue to remain professional and based on data, documents, and the requirements of the declared purpose.