Value is the monetary equivalent of an asset. Real Estate Valuation means the independent and impartial appraisal of the probable value of a real estate, real estate project or the rights and benefits attached to a real estate on a certain date.
It is a service that includes the independent and impartial determination and reporting of the probable value of real estate/real estates owned by legal entities or natural persons on a specific date, using various valuation methods by experts in real estate and rights and obligations on real estate, in order to meet different needs.
The valuation profession has a wide range of applications, including real estate for lending and collateral purposes, expropriation, privatization, disputes and property litigation, urban transformation, insurance, taxes, valuation of financial assets and rights containing real estate, etc.
Those who perform the valuation profession are called Appraiser. Appraisers are defined as individuals who are employed full-time by real estate appraisal companies that will appraise a real estate, a real estate project or the rights and benefits attached to a real estate, or who provide appraisal services by signing contracts with appraisal companies without being employed full-time, who have graduated from 4-year departments of universities at the undergraduate level, who have at least 3 years of experience in the field of real estate appraisal and who have been granted a Real Estate Valuation License.