General Guidelines for Assessment and Report Your Property

  1. Standard or mandatory guidelines that are followed by Property Valuer in assessing the report and present an assessment of the property in the fulfillment of the laws that apply in the Republic of Indonesia. 

  2. In the event of a default or guidelines that are not regulated, they are obliged to follow Indonesia Valuation Standards (SPI) and standard assessment or other applicable internationally, and must quote the standards referred to in the report or the assessment is attached. 

  3. The guidelines aim to make this assessment report can be generated that meet high professional standards, have integrity , clear, reliable, independent and suitable destination assignment. 

  4. These guidelines set things must be considered by the Property Valuation in accepting the assignment, select and define the approach and method of assessment, the assumptions and material consideration in the assessment and preparation of the report, and other matters must be disclosed in the report. 

  5. Report assessment valid for a period of six (6) months since Date Rating (cut-off date). 

  6. Date is the date where Valuation make conclusions on the estimation of value. 

  7. Date Assessment Report is the date where the report was issued and signed by the Valuer. 

  8. In the event of a revision of the assessment report, the Valuer compulsory again publishes an assessment report with the date and number of different reasons and with the explanation back to the assessment report. Facts and material changes that mandatory assessments disclosed in the report that it has been revised. 

  9. In the cases of replacement of the Valuer accept the assignment to conduct an assessment on the same object, then the conditions required to adopt the following: 
  • Valuer replacements need to first make communication, either written or oral, with the Valuer predecessor before accepting the assignment.
  • Valuer obliged to request the replacement of a written agreement from the prospective assignment to request information from the Valuer of before accepting the assignment.
  • Valuer obliged to request the replacement of the facts or findings that the confidence
  • Valuer replacement will help in deciding the acceptance or rejection to the Valuer of the assignment.
  • Valuer mandatory replacement plan and implement an assessment again in accordance with the assessment procedures. Grader replacement is not responsible for the Valuer of the work or issued a report that reflects the division of responsibility.  

Before accepting the assignment, Valuer, among other obliged to consider: 
1) Competency Valuer: Assessors must have adequate expertise in the theory and application, to: a) identify, collect and analyze data; b) choose and apply the approach and method of assessing the appropriate and c) use the professional to develop estimates of value. 

2) Information about the client and the grantor or assignment; 
3) objective assessment of the assignment; 
4) Object assessment; 
5) Standard assessment; 
6) Date assessment; 
7) Assumptions and conditions that limit the assignment in the assessment; 
8) Conditions of laws applicable professional standards or other objects associated with the assessment or valuer assignment; 
9) Terms of the proposed by the Client; 
10) The steps that must be fulfilled in the assignment and assessment of barriers that may occur outside the control of Valuer, or clients, if any; 
11) The use of assessment reports; 
12) The nature of the services and risk assessment and expectations of clients and funders, or assignment; 
13) agreement with the client and the grantor or assignment, compulsory Valuer: a) the nature of the analysis, facts and assessment of the assignment plan and conduct discussions with the grantor to do the assignment needs assessments and to obtain agreement on the assignment.   b) build understanding with the client in the form of a written contract between another assignment, and make documentation about the agreement.  c) make changes to the agreement have been made, in the case during the assignment there is a condition that requires undertake these changes to the agreement. 
14) The scope for the assignment of, among others: a) Identification of the object assessment; 
b) Inspection objects assessment; c) the availability and type of data is examined, and d) and the type of analysis that was conducted to obtain opinions and the results of the assessment. 

In conducting an assessment of the assignment, compulsory Valuer: 1) to comply with the code of ethics and professional competence; 2) using at least two approaches to the assessment results accurately and objectively; 3) selecting and applying the approach, methods and assessment procedures are in accordance with the purpose of the assessment, the definition of the value of searching and characteristics assessment; 4) do not take sides in the assessment, objectives, and without accommodating the interests of certain parties or private; 5) consider the terms and disclosures set; and 6) create and maintain the necessary documentation. 

In conducting an assignment, is prohibited Valuer: 1) assess where the opinion or conclusion in the report scoring has been determined beforehand; 2) make an assessment on the assessment of the same object, and to date assessment of the same; 3) to report the results of the assessment or misleading and allow other parties to report the results of the assessment of misleading and 4) receive payment for services, commission and a valuable form of the other, other than that agreed upon in the assignment. 

In the conclusion of a value, compulsory Valuer: 1) believes that the value of the results obtained with the use of multiple approaches and methods of assessment have adequate quality.2) a reconciliation of the results obtained by: a) gross weighted method; or b) choose one of the value of the approach and method of assessment that most believed by the Valuer and better reflect the situation rightly or actual. 3) disclose the reasons and steps to make reconciliation in value in the assessment report. 4) Make a conclusion assignment assessment results, taking into account: a) the methods and approach the relevant procedures; b) the relevant information and available; and c) the appropriate level of discount (if used discounted cash flow method).

In the case occurred Subsequent Events, compulsory Valuer: 
1) considering the (incident) occurred on the date of assessment and Subsequent Events. 
2) Valuer obliged to reveal and explain the nature and impact of subsequent events in the additional disclosures as part of that is not separated from the assessment reports. 
3) Disclosure must clearly indicate that it is not intended to affect the determination of value on the date of assessment. 
4) The assessment will not update to reflect the condition of the incident. 
5) Valuer obliged to calculate the impact of subsequent events into the value of the pro concerned. 

Assessors are obliged to use market values in each scoring goals. 

Assessors determine the compulsory category of object property assessment, among others: 
1) property operations are the property needed in the operations of the company; 
2) non-operational property is owned property to support the operations of the company; and 
3) property owned company to develop in the future, investment or surplus assets of the company's operational activities. 
h. Comparison of data used for each approach in order mandatory assessment comes from or validated by the Association of Professional Valuer, among others: 
1) The data market in land; 
2) Standard cost of building and 
3) Property market. 

Assumptions and limiting conditions
1) assessment report required to load and clear descriptions about the exact scope of assignment, and the meaning and purpose of their use, explains each assumptions, hypothetical scenario, or the requirements restricting directly affect the assessment. 
2) Valuer prohibited from using the assumption that the value and reduce substance use conditions restricting the responsibility to reduce the Valuer of the results of an assessment that can lead to the use of the assessment report to be limited.  
3) All of the assumptions and conditions restricting the use of compulsory produce indication values disclosed in the assessment report. 
j. Privacy Information 
1) Valuer obliged to protect and maintain confidentiality in the use of information about clients and funders, or the assignment of a confidential assessment and delivery of results before being published by the client and the grantor or assignment. 
2) Valuer required to understand and comply with laws and regulations relating to the confidentiality of documents and information. 
k. In the case of using the results of work by the Expert assessment of the assignment, the compulsory Valuer: 
1) limits the responsibility to reveal the Valuer of the results of the work of the Experts; 
2) contains the results of the work or opinion or statement of Experts referred to in the report of the assessment; and 
3) attach report the results of the work of Experts referred to in the assessment report.

Valuation = appraisal ? more Info: let see here

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