Valuation of an apartment upon inheritance

According to current Russian legislation, inheriting an apartment is impossible without determining its value by a professional appraiser . Let's take a closer look at why an apartment appraisal is needed to enter into an inheritance, and what the procedure for assessing real estate is.

 

Why evaluate an apartment when registering an inheritance?

Firstly, a formal appraisal of the apartment by a notary upon receipt of an inheritance is a prerequisite for taking ownership of real estate.

Although the legislation does not provide for the payment of income tax upon entry into the inheritance of close relatives of the deceased, who most often are the heirs, there is a need to pay a state fee for carrying out notarial actions to formalize the inheritance. The amount of such duty is calculated as a percentage of the cost of the apartment.

In this case, the only document accepted by the notary to establish the value of the apartment is the report of a professional appraiser.

Secondly, the appraisal of the apartment is necessary in order to establish the share of the apartment in the common property of the deceased. In this case, an analysis of the value of not only the apartment, but also all other property of the deceased should be carried out.

Such an assessment is often needed by heirs in order to determine the share of each of them if the inheritance consists of several objects of movable and immovable property.

This procedure is especially relevant when the deceased did not leave a will or did not specify in the will specific real estate objects that become the property of each of the heirs.

Finally, the third reason for appraising an apartment when receiving an inheritance is a lawsuit between the heirs. To fairly divide property, a judge must know its value, which can only be determined through formal real estate valuation mechanisms.

Real estate valuation procedure

Who can conduct the assessment?

Real estate valuation can only be carried out by a qualified appraiser who is a member of one of the self-regulatory organizations (SRO). Reports of any other specialists, regardless of the real qualifications of the appraiser, have no significance for a notary or court and are not the basis for determining the real value of property. Therefore, always check whether the appraiser is a member of one of the self-regulatory professional organizations.

Separately, it should be noted that the assessment of the market value of real estate, which is necessary to receive an inheritance, is carried out by private appraisers.

At the same time, the assessment of an apartment by cadastral value is within the competence of the BTI.

An assessment based on cadastral value is necessary to pay taxes when donating or selling an apartment, while an assessment of the market value of real estate is needed for notarization of an inheritance.

 What documents are needed to evaluate an apartment?

• documents on the basis of which the apartment was owned by the testator
• certificate from the BTI (form 11-a)
• documents confirming the presence of any encumbrances (mortgage, lease agreement, easement) that reduce the real value of the property.

The assessment procedure consists of an analysis by the appraiser of all documents provided to him, as well as a visit to the apartment. Some appraisal companies evaluate an apartment solely on the basis of the documents provided to them. This method does not allow one to accurately determine the value of the apartment, but sometimes it is the only possible one, as, for example, in the case when the apartment is at the disposal of other heirs who do not allow the appraiser and the customer of the appraisal work to enter there.

Specialists use a comprehensive method of real estate valuation, approved by the relevant state standards.

This method includes both a comparative analysis of the apartment in comparison with similar offers on the market, and the use of coefficients to determine the cost of the apartment as accurately as possible based on its technical condition, the general condition of the residential building, location, distance from the metro, etc.

The entire procedure for assessing residential real estate, as a rule, does not take more than 2-3 days. Some appraisers provide services for expedited determination of the value of real estate, providing the customer with a report within one business day.

How much does an apartment appraisal cost?

The cost of appraising an apartment depends on the city where the appraisal is made, the area of ​​the property and the qualifications of the appraiser. The average cost of appraiser services in 2023 is 2-4 thousand rubles.

Since the appraiser's report contains the assumption that the value of the apartment is assessed at the time of the death of the testator, the validity period of the apartment appraisal is actually equal to the period of acceptance of the inheritance (6 months), if the report is required by a notary. If the report is intended to be used in a lawsuit regarding the division of the inheritance, then the appraiser’s conclusion is unlimited, since it shows the value of the apartment precisely at the time of opening of the inheritance.

Appraising an apartment during inheritance is more of a technical procedure than the stage of receiving an inheritance where real difficulties may arise. However, only working with certified appraisers and receiving an appraisal report will allow you to register the apartment as the property of an heir. Therefore, you should not postpone the procedure for appraising the apartment until the last days of the inheritance acceptance period.

How is an apartment appraisal carried out and how much does it cost to enter into an inheritance?

When inheriting real estate, the heir needs to know the value of the property. To do this, you need to go through an assessment procedure. How is an apartment assessed for inheritance in 2023 and how much does it cost?

Why is an assessment necessary?

An appraisal when inheriting an apartment is needed for the following purposes:

1. Acceptance of inheritance. If the successor wishes to enter into inheritance rights to real estate, he must submit a report on the price. This is required in order to calculate the amount of state inheritance duty.
2. Establishment of an inherited share in the common property of a deceased citizen. This is especially necessary if the deceased did not leave a testamentary document.
3. Litigation in case of conflict between heirs. The judge will need to know the value of the apartment.

For these purposes, an official document in the form of an assessment report must be presented.

Types of cost

Three types of valuation are used for real estate: market, cadastral and inventory. Each of these types has its own characteristics, so it is worth considering them in more detail.

Market

Market valuation is made based on current market conditions. It is this cost that is more realistic. But the market is not stable, so prices for the same object can constantly change. They are influenced by the exchange rate and even political events in the country.

A large number of factors are used to determine market value. When assessing, the expert takes into account the condition of the premises, area of ​​residence, distance from stops and metro, availability of parking, plumbing, serviceability of communications and much more. That is why this price is the most realistic.

As a rule, the market value is always higher than the cadastral value and even more so the inventory value. In rare cases, the cadastral value may be slightly higher or equal, when old buildings for which the demand is too low are subject to assessment.

Cadastral

A cadastral valuation is one that is carried out on the initiative of Rosreestr. The resulting price is entered into the register and written down in the cadastral passport, where a citizen can find it out. When determining this value, many factors are taken into account, but still less than the market value. Therefore, its value is slightly lower.

In order to find out the cadastral value, in addition to your passport, you can also request a certificate from Rosreestr. You can apply in person or use the State Services portal, post office, or the official website of Rosreestr.

Inventory

The inventory value of an apartment is determined by the state institution BTI. When assessing, the least number of factors are taken into account, so the result is that the price of the apartment is always lower than when determining the cadastral or market value.

It is for this reason that citizens prefer to use the inventory price to determine the amount of the state duty, because it turns out to be less.

Does a notary have the right to insist on the use of a maximum price?

The heirs have every right to use the value of the apartment to determine the state duty, which they themselves wish. The notary has no right to require the use of any specific price. Even if the inventory value is much lower than the market value, it will still be applied if the successor decides so.

Evaluation procedure

The procedure for appraising an apartment for inheritance involves several steps.

Expert's choice

First of all, you need to decide where to go for the service. Companies that have the appropriate license to do so may engage in appraisal activities. The assessment is carried out by private companies or a government agency - BTI.

Most often, citizens choose private companies because they are more efficient. But the cost of services from private owners is slightly higher than from the Bureau. Therefore, the choice largely depends on the person’s budget.

Drawing up an agreement and transfer of documents

Having chosen an appraiser, you should contact him and agree on a date for the procedure. An agreement is concluded between a citizen and a company. The heir must have the following documents with him:

1. Successor's passport.
2. A certificate confirming the deceased’s ownership of the apartment.
3. Inheritance certificate.
4. Certificate from BTI.
5. Technical documents for real estate.

If the assessment needs to be carried out by a legal entity, then you will need to provide company details, technical papers, and title documents.

Direct assessment

Next, the appraiser analyzes the apartment. When assessing, the specialist takes into account many factors: the location of the property, distance from bus stops or the metro, the general condition of the premises, the presence of encumbrances, etc.

At the end of the procedure, the appraiser draws up a report, which must be submitted to the notary’s office when accepting the inheritance.

How much does the service cost?

You will need to pay for the appraisal of the apartment in order to inherit. Each appraisal organization sets its own prices for work, so the cost may vary significantly. On average, the price varies between 3-6 thousand rubles.

Validity period of the assessment report

The appraiser's report has its own validity period. It is 6 months , that is, the same amount as required to register an inheritance. If the conclusion is required for legal proceedings on the division of real estate, then it is indefinite .

How is the state duty calculated based on the assessment?

When entering into an inheritance, successors must pay a notary fee. Its calculation is made depending on the value indicated in the appraisal report. The legislation establishes only a certain percentage to determine the amount of the duty.

If the heir has a close family relationship with the testator, then he pays 0.3% of the price of the apartment. In this case, the maximum fee is 100 thousand rubles. For the remaining successors, the percentage is set at 0.6%, the largest amount being one million rubles.

What is the procedure for accepting an inheritance?

To enter into an inheritance, the heir must contact a notary's office with a statement expressing a desire to accept the property. Along with it, the following documents are required:

• Successor's passport.
• A certificate establishing the fact of the death of the testator.
• A certificate indicating the last place of residence of the deceased.
• Documents for an apartment to be inherited.
• Will.
• A paper certifying the existence of a family relationship with the deceased.
• Appraiser's conclusion.
• A receipt confirming payment of the state duty.

An application with documents must be submitted to a notary within six months from the date of death of the testator . After this time, the lawyer issues inheritance certificates to the successors, on the basis of which they have the right to apply to Rosreestr and re-register the property in their name.

Thus, the assessment of an apartment for inheritance is carried out by private companies or BTI. Where to go is up to the heir to decide, depending on his financial capabilities and his own preferences.

Valuation of an apartment for inheritance

Entering into inheritance is a complex legal procedure, the main asset of which is, as a rule, real estate. In order for the inheritance process to go smoothly and without problems, an appraisal of the apartment is necessary to enter into inheritance.

Why evaluate an apartment?

• According to the Tax Code (clause 8, article 333.25), a person wishing to inherit an apartment must provide the notary with a real estate appraisal report (report). In addition, the amount of the notary fee for inheritance depends on the cost of the apartment;
• An assessment is necessary to establish the share in the deceased’s common property, including the apartment. The assessment is especially relevant in a situation where the testator did not leave a will;
• In case of litigation between heirs, the court will need to know the value of the apartment.

The document that establishes the cost of an apartment is a report from a competent appraiser. This is what needs to be provided to the notary.

Who evaluates the apartment

Determining the value of real estate is carried out by professional appraisers - independent experts operating on the basis of a license. In addition to private individuals, government agencies, the Bureau of Technical Inventory (BTI), are also involved in assessment. In terms of efficiency, private individuals are ahead of government representatives. Who to turn to is a matter of money.

The valuation procedure takes place after the death of the testator in accordance with Article 7 of the Federal Law “On Valuation Activities”. An assessment before the due date is considered illegitimate.

The appraiser must be licensed. The absence of a license will make the entire assessment procedure illegitimate - the notary will not accept the report.

Necessary documents for appraising an apartment

• Certificate of state registration of real estate;
• Passport of the customer of the assessment service;
• A document confirming the property of the testator;
• Certificate from the BTI (11-a);
• Technical documentation: cadastral passport, explication (apartment plan);
• Documents encumbering the property (lease agreement, pledge, etc.), which can reduce the market value of the property.

• Organization details;
• Technical documentation;
• Title document.

Apartment assessment procedure

The assessment procedure itself consists of a thorough analysis of the documents provided and an inspection of the apartment. To summarize, the entire assessment process can be presented as follows:

1. The customer finds a professional appraiser;
2. A time is set for visiting the apartment;
3. At the appointed time, the agreement is signed and the necessary documents are transferred;
4. After inspection and analysis, the appraiser compiles information about the object of assessment;
5. After five days, the assessment report should be ready.

There is an exception when the appraisal is carried out without an inspection - the current owners may not allow the appraiser to enter. In this case, the assessment is carried out solely on the basis of documents.

The assessment procedure, with the exception of preparing the report, takes only a few days. Some organizations are willing to provide expedited estimates that require a larger investment.

The procedure ends with the provision of a package to the customer, which includes:

• Act on appraisal work;
• Valuation service agreement;
• Evaluation report.

With the help of this package, the notary continues the process of inheriting the apartment.

If the cost of the inherited apartment is expressed in foreign currency, then recalculation into Russian rubles is necessary at the Central Bank exchange rate.

How much does an apartment appraisal cost?

• Type of premises (apartment);
• Price list of the person who makes the assessment;
• Object area;
• Location of the property: in the city center, on the outskirts, near the metro, etc.

Thus, the assessment of a small apartment in a nearby location will be cheaper than the assessment of a multi-room residential space in a new building.

According to statistics, the average price of the service for 2016 is 2-4 thousand rubles.

Assessment deadlines

• The assessment report is valid for 6 months - the same period as the inheritance procedure, if the document must be submitted to a notary;
• In court proceedings regarding the division of an apartment, the report is valid indefinitely.

After the expiration of the term, a re-evaluation is necessary, since the housing market gradually changes, and prices also change with it.

Appraising an apartment is a technical process rather than a legal one. It is not a legal part of entering into an inheritance, but is necessary to determine the value. Hence the importance of contacting competent appraisers who will establish the value objectively and impartially, using comprehensive and modern approaches.

Why and how is an apartment appraised when entering into an inheritance?

Russian legislation establishes the obligation of the heir to provide, in the process of inheritance procedures, an opinion on the value of the deceased’s property.

You can only obtain such a document from a professional appraiser.

Ways to evaluate an apartment

There is a certain list of criteria by which an inherited apartment can be assessed:

• its location;
• walking distance to certain objects;
• distance from the central point of the city;
• transport interchange indicators;
• absence or presence of burdensome factors (mortgage, minor owners, etc.);
• technical condition;
• number of rooms;
• floor location and number of floors of the house;
• balcony glazing;
• presence of flaws;
• area indicator;
• materials used in building a house;
• availability of security and fire alarms;
• parking space, parking.

Despite the fact that some of the listed criteria are of secondary importance, they all have an impact on the estimated value indicator.

Is it possible to do without an assessment?

It is impossible to do without providing the notary with an assessment document. First of all, this is due to the fact that the requirement for its presence is imperative. Without the document in question, it is impossible to determine the amount of state duty payable in accordance with Art. 333.24 Tax Code, upon receipt of a notarial certificate.

There are no restrictions on the type of assessment provided. This means that the notary must accept any valid document that has the lowest estimated value.

In addition, the specified document may not be presented by those recipients of the inheritance who actually entered into it, i.e. those who were using it at the time of the owner’s death and continued such use after its occurrence.

Assessment procedure

To obtain an assessment document, you can contact a public or private expert institution. In addition, a private expert can prepare an opinion.

Writing an application for extract of cadastral value

Extracting the cadastral value allows you to create a complete picture of the object to be assessed. To write an application, you must appear at the Cadastral Chamber, where they will provide not only explanations, but also a sample on which the application should be written.

For writing you need to use A4 sheet. It is important that the text of the application is legible and the submitted document is neat.

The application must reflect information about the applicant, his passport details, residential address and telephone number. The text must contain indications of the grounds that gave rise to the need to obtain an extract. The paper is signed by the applicant.

The submitted application must be accompanied by a copy of your own passport, a certificate of ownership and other title documentation.

The procedure for issuing an extract is paid, and therefore a receipt confirming payment of the state fee must be attached to the application.

Independent appraisers

The assessment process and the issuance of the final conclusion are carried out by an independent appraiser. Such an entity must meet a number of requirements, among which is the mandatory participation of a qualified appraiser in the SRO.

Real estate valuation agreement

The basis of the relationship that arises between the appraiser and the customer is an agreement. The requirements for the content of such a document are set out in the Law “On Valuation Activities”.

The following are required to be indicated:

• information about the grounds for concluding the contract;
• an indication of the type of object to be assessed;
• determination of the type of value that is subject to assessment;
• the amount of the appraiser's remuneration;
• information on insurance of the civil liability that is assigned to the appraiser.

Required documents

The documents that the appraiser needs to form his own conclusion must be submitted by the customer, i.e. heir.

These include:

• title documentation;
• technical documentation;
• information received from tax authorities and utility organizations.

Is it possible to challenge the cadastral value?

The owner of real estate has the opportunity to challenge its cadastral value, which is done through:

• commission for the consideration of disputes about the results of determining the cadastral value, which is the fastest procedure;
• trial, which can be lengthy.

When applying to the commission, the following documents must be provided:

• indicating the cadastral value;
• of a legal nature, submitted in notarized copies;
• o market valuation of real estate;
• expert opinion;
• indicating a cadastral and/or technical error.

If the owner wishes to pursue a judicial appeal, he will need to file an administrative claim, proof of service of which must be presented to the court. The consideration of cases of this category is paid for by paying a state fee.

In addition, documents confirming the adoption of measures for pre-trial settlement of the dispute must be attached to the case materials.

Service cost

The assessment is a paid service. The cost is determined by the contract concluded by the parties and may depend on a number of factors.

In Rosreestr

When receiving a cadastral valuation through Rosreestr, the service fee will be no more than 200 rubles.

Independent appraiser

When determining the cost of an assessment, an independent expert can proceed from the level of his own qualifications, as well as from the characteristics of the object under study. As a rule, the price for such assessments varies between 2-3 thousand rubles.

How is an apartment assessed for inheritance and how much does this procedure cost?

It is almost impossible to inherit an apartment without a qualified assessment of its value.

You will learn from this article how and from whom to order a professional real estate appraisal at the date of death, how long the procedure will last and how much it costs.

How does inheritance of an apartment occur: legislative information

• Real estate can be allocated for inheritance on two grounds: by will or by law.
• The first case presupposes the presence of a notarized will of the deceased, in which he distributes the rights to inherit his property at his own request.
• And inheritance by law involves the distribution of property in equal shares between close relatives: first of all, we are talking about children, spouses and parents of the deceased, then distant relatives, dependents and the state can claim the inheritance - in the last place (in accordance with Articles 1126 and 1149 Civil Code of the Russian Federation).

The basis of the inheritance is usually real estate. Article 16 of the Housing Code of the Russian Federation states that any type of residential premises: rooms, apartments, houses - are inherited in the general manner.

However, according to the law, heirs can receive their share of the inheritance also on the right of common ownership - that is, they will own the property jointly, each of them will receive a certificate of ownership of a certain part of the inheritance.

Problems may arise when dividing privatized property. Owners can allocate their share to each other in material or in kind equivalent .

Why is it necessary to evaluate inherited property?

In accordance with current Russian legislation, entry into inheritance rights for an apartment or other residential premises is impossible if the value of the property has not been verified by a professional appraiser. The process of registering an inheritance is regulated by Article 35 of the Constitution of the Russian Federation, Part 3 of the Civil Code of the Russian Federation. So, why is an apartment appraisal done?

1. Based on the estimated value of the property, the amount of state duty is calculated, which goes towards paying for notarial actions for registering an inheritance. The state duty is calculated as a percentage of the value of the property. But close relatives of the testator do not have to pay income tax on inheritance if the deceased owned the apartment for more than three years.
2. The appraised value of the apartment helps to establish its share in the total inherited property of the deceased . In this case, not only the real estate property is assessed, but also all other property. Based on this information, the heirs can distribute their shares in the inherited estate and fairly divide it among themselves.
3. Information on the valuation of the apartment will be required if there is a lawsuit over an inheritance. In order to fairly and correctly divide the property between the heirs, the judge must know its exact value.
4. An appraisal report will be required when registering the apartment as the property of the heirs. It will need to be provided to all authorities.

IMPORTANT: The only document confirming the value of an apartment that is accepted by notaries, judges and other officials is the conclusion of a professional independent appraiser.

An apartment appraisal for inheritance should be ordered immediately after the death of the testator . After all, only six months are given to notarize the rights of inheritance (this norm is enshrined in Part 3 of the Civil Code of the Russian Federation). Therefore, there is no point in delaying the assessment, especially if there are disputes regarding the inheritance that need to be resolved in court.

The assessment procedure will not take much time - from the moment of providing all the documents and visiting the apartment to the issuance of a completed report, usually no more than two to three days pass.

An expedited procedure with obtaining a conclusion on the day of application is also possible.

There are two types of real estate valuation: cadastral and market . The cadastral value is assessed by BTI specialists; the specialists’ conclusion indicates how much the apartment costs according to the cadastre. This information is needed to calculate taxes for transactions with this property.

1. It is the market valuation that is needed for notarization of an inheritance.
2. Only professional appraisers who are members of one or another self-regulatory organization have the right to evaluate real estate.
3. If the appraiser does not have a document on membership in the SRO, his conclusion will not be valid with a notary or in court, regardless of his qualifications and professional competencies.
4. Therefore, before ordering an assessment from a particular appraiser agency, be sure to check the appraiser’s membership in the SRO.

What documents are required?

The procedure for assessing the market value of an apartment consists of two stages: checking documents and visiting the premises itself.

Sometimes (for example, if there is a dispute over an apartment, it has been seized, and access to it is difficult), an assessment can be made only on the basis of the documents presented. Therefore, without a fully assembled package of papers, a qualified assessment of the value of real estate is impossible .

Since appraisers use a comprehensive assessment method that complies with state regulations and standards, they require a complete package of documents that allows them to carry out the following actions:

• comparative analysis of inherited and similar apartments on the market;
• technical condition of the immovable object;
• general condition of the residential building;
• location of the property (transport accessibility, infrastructure, etc.).

In this regard, appraisers require the following package of documents for the apartment::

• certificate of ownership;
• BTI documents (form 11-a);
• other technical documentation (technical passport);
• documents on encumbrances affecting the cost of the apartment (mortgage, rent, etc.).

Cost of professional assessment

How much does the assessment procedure cost? Typically, the cost of appraising an apartment varies between 2-5 thousand rubles . It depends on the following factors:

• location of the property and the appraising organization;
• qualification of the appraiser;
• area and other characteristics of the apartment.

An apartment appraisal report for a notary is issued for a period of six months, since it is during this period that it is necessary to enter into an inheritance . The certificate for the court is unlimited, since it certifies the cost of housing precisely at the time of the death of the testator, and only this factor is important for the judge.

A professional appraisal of an apartment is not included in the main stages of inheritance. However, it is unlikely that it will be possible to do without this procedure.