Real estate valuation for mortgage in Sberbank in 2021: list of independent appraisers and service cost

Appraising an apartment for a mortgage is a mandatory step on the path to purchasing your own home. The expert told FAN, what future owners need to do to get through this stage.

Today, a mortgage for Russians is one of the main ways to purchase their own home. Simply saving up for a down payment, choosing your dream apartment and contacting the bank offering the most favorable interest rate will not be enough. On the way to achieving your cherished goal you will have to go through several stages. One of the most important is the valuation of real estate for a mortgage. We talked with the head of the mortgage lending development department of Raiffeisen Bank, Anton Krasilnikov , and found out what this procedure is, who carries it out and what documents are required.

What is a real estate appraisal and why is it needed?

Valuation of real estate for a mortgage in Sberbank - a procedure for determining the liquidity of the purchased property with the help of an independent expert. According to the Federal Law “On Mortgage”, when applying for a housing loan, the borrower is obliged to provide an existing apartment or purchased housing as collateral. Due to the fact that the bank is considered the mortgagee, it requires the payer to carry out assessment activities.

The lender sets the maximum loan size based on the liquid and market value of the premises. This is how the bank insures itself against non-payment of the mortgage loan by the borrower, gaining the opportunity to sell the property and cover costs.

The client himself also needs an assessment of the apartment; thanks to it, the adequacy of the cost of housing is determined. Also, the borrower turns to an independent appraiser so that, being in a difficult financial situation, he can independently sell the apartment at the market price to pay off the debt.

Housing appraisals for mortgages are carried out by accredited organizations approved by Sberbank. However, he also cooperates with private companies, but on the condition that all requirements and conditions of the procedure are met.

To obtain a mortgage loan secured by real estate, you must present a final report with photographs, graphs and conclusions on the property being inspected. According to Sberbank’s terms, real estate valuation for a mortgage is paid for with the borrower’s funds.

Apartment appraisal service in a new building

Valuation of an apartment in a new building is a popular service.
It involves work to determine the market value of a residential property. It is ordered by agencies, homeowners (present and future), and banks. Market price is the most objective indicator, and it is the one that appears in many transactions. There are two possible situations when resorting to real estate valuation in a new building:

An apartment building was built and put into operation, the apartments in it were registered, they were assigned cadastral numbers.
The house is just being built, and by taking out a mortgage on an apartment in it or buying it with one’s own funds, an individual does not yet become the owner. He is only a co-investor in the construction. In this situation, an assessment is also necessary, since there is no information anywhere about the market value of the apartment and when purchasing it is necessary to be based on specific (and, very important, objective) data.

What is the job of real estate mortgage appraisers?

The real estate property is assessed only by professional experts, with the proper level of accreditation and a full package of permits.

First of all, the employee collects the necessary information that relates directly to a specific property: year of construction, material of manufacture, degree of wear, number of redevelopments, geographical location, technical equipment, etc. Summarizing the data received, he conducts a detailed analysis and makes an assessment, drawing up a report that includes photographs of the property, graphs, diagrams and detailed conclusions.

The study of a mortgaged apartment can be carried out by an accredited company from Sberbank or an independent expert.

How is assessment carried out at Sberbank?

Most often, it is carried out when applying for a mortgage loan; an expert opinion is a mandatory document, since the property will be left as collateral. The appraisal of Sberbank's real estate should be of interest to the borrower only after receiving approval.

That is, first the borrower collects an initial package of documents, receives approval, and then the bank gives him 90 days to find a suitable property. If an object is found, you need to collect a set of documents for it, which includes an expert report from the appraisal company.

The assessment process will be as follows:

Study the companies accredited by Sberbank for apartment evaluation, operating in your city and region, and choose one of them. You should be interested in the price of the service and the speed of its provision. The price depends on the company’s tariffs, on the location and type of object, its area.
The specialist will point out the package of documentation that needs to be collected for the assessment.
The parties agree on a meeting. At the appointed time, a specialist goes to the site and conducts an assessment. Based on the results of its implementation, he prepares an act, which must be attached to the package of documents for the real estate and all this must be transferred to the bank to make a decision on issuing a mortgage.

The assessment period is about 5 working days.

Pros and cons of assessments in accredited companies

Main advantages:

Reliability. Companies involved in legal proceedings or appraisers with a criminal record will not be included in the Sberbank register.
Competence. The expert must have the appropriate education, certificate and three years of work experience. Based on these parameters, the bank determines professionals.
Safety. The experts' activities are insured, therefore, if an error is made in the reporting, all the client's costs associated with this will be compensated.

Among the disadvantages of valuing an apartment for a mortgage at Sberbank, the only thing that can be highlighted is that it is impossible to agree with an employee of the company on inflating the cost of the apartment. Also, the appraiser will not be able to change the report if he discovers illegal redevelopment.

What documents are needed when evaluating an apartment in a new building for a mortgage?

The list of documents is quite extensive. It is necessary to, on the one hand, determine the legal status of the property, and on the other, to form a complete picture of the property. The appraiser must provide:

A document showing how the property in the new building was acquired (for example, an agreement on shared participation, purchase and sale, etc.).
Copies of the constituent documents of the developer company.
Cadastral passport of the apartment, extract from the Unified State Register (their copies).
A copy of the technical passport issued by the BTI (with information about the explication and floor plan).
Transfer and acceptance certificate (copy).
Identity card of the customer of the assessment.

This list is approximate and can be supplemented in each specific situation.

How appraisal companies are selected to work with Sberbank borrowers

Every year, Sberbank PJSC selects accredited appraisers to interact with clients.
To participate in the program, each company is required to provide a set package of documents to verify compliance with the requirements. The processing time for candidates varies, with an average of 1 month from the date of submission of the request. The list of Sberbank accredited mortgage appraisal companies is posted on the official website. Subsequently, the document provided must fully satisfy the requirements of the lender.

Reports from appraisal companies not accredited by Sberbank are also considered, but provided that the document meets the established requirements.

Conditions presented

Sberbank establishes mandatory requirements for appraisers:

The expert must be a member of a self-regulatory organization and have a certificate.
Every 3 years he is required to improve his qualifications.
The employee's activities must be insured.
He has no criminal record or open court cases.

Certain conditions are imposed not only on experts, but also on the companies themselves:

Two or more employees have special education.
Professional activity of the organization - from 3 years.
The work experience of two or more employees is more than 3 years.

Accreditation procedure

If the company fully complies with the requirements, it receives appraiser accreditation from Sberbank. From this moment on, it can provide services to the bank's borrowers.

The organization does not receive official certificates, but is simply notified in writing of the decision made. After this, the company is automatically included in the list of appraisers accredited by Sberbank.

Why do appraisers need accreditation?

Only accredited companies are allowed to work with Sberbank. They are considered more experienced in their field and have all the necessary information.

Expert opinion

Irina Bogdanova

Work experience at Sberbank for 12 years.

In most cases, appraisal reports from non-accredited companies are rejected due to the bank's lack of confidence. Such organizations can act as scammers in order to reduce the amount of the down payment and insurance for the borrower.

Does the bank work with non-accredited real estate appraisers?

Without objective reasons, it is illegal to refuse to consider a report from an unaccredited company. The borrower's right is regulated by Federal Law No. 135 “On Protection of Competition”.

Sberbank interacts with such organizations, but on the condition that all documentation meets the established requirements.

What is the validity period of the assessment report?

The assessment report is valid for six months. But it is better to check with the bank manager - in some cases, the requirements of credit institutions may differ from this period. In reviews of mortgage products, you can find complaints from citizens who were denied a loan or mortgage refinancing a month after the assessment.

Ask the bank manager if the report will be valid if the mortgage application expires - some banks can take up to 2-3 months to review a new one.
Check to see if the bank has any other requirements for the appraisal report.

How to order an apartment appraisal for a mortgage

The borrower independently orders and pays for the services of an appraiser. The lender allows the possibility of cooperation with outside organizations, but subject to compliance with established requirements.

How to find an appraisal company yourself

Step-by-step search for an appraisal organization:

You can order the service by advertising in a newspaper or via the Internet. The client must choose a search option that is convenient for him.
You need to carefully study the company's website. The presence of a convenient interface, information about the services provided and their cost are signs of highly qualified specialists.
It is important to check all documents confirming the activities of the appraiser. Particular attention should be paid to the SRO certificate and insurance policy.
You definitely need to study all the reviews, not only on the company’s website, but also on the forums.
Experts advise selecting 2-3 options and contacting them for preliminary consultation and clarification of costs.
Make the final choice based on the availability of relevant documents and reviews.

What you need to know before applying

Before ordering from non-accredited companies, it is better to compare all the pros and cons of such a risk. Even if the law allows you to turn to such organizations for help, Sberbank is still skeptical about them. It will take more time to check the submitted report, and if it does not meet the established requirements, it may be rejected altogether.

Important! The services of an appraiser for drawing up a loan agreement for a mortgage are paid by the applicant.

We select an appraiser from the Sberbank register

A complete list of all appraisers from Sberbank is updated annually in accordance with the law.

List of documents required by Sberbank accredited appraisers

The future owner of the apartment must provide:

customer's passport;
technical and cadastral passport of the premises;
purchase and sale agreement, certificate of state registration of real estate or any other document of title;
act of acceptance and transfer of housing.

Companies operate in accordance with the law, so the list of securities on the basis of which the assessment is carried out can be changed on an individual basis.

You can find the cadastral passport of the premises using the map:

Features of assessment for mortgages at Rosbank Dom

The work of the appraiser depends on which object will be the subject of the mortgage. So, if we are talking about a new building, there may not be access to a finished apartment. And the criteria for the analysis will be: price per square meter, housing area, floor, etc. In secondary market real estate, a more thorough analysis is carried out: the presence of repairs, the state of communications, landscaping of the local area, etc. are assessed.

Appraising a home for a mortgage may take longer if the property is located outside the city. A specialist visiting the specified address determines the distance from the center, transport accessibility, etc. During the procedure, the expert performs the standard stages of housing analysis:

a complete visual inspection of the premises and checking it for compliance with the BTI diagrams;
photography of living rooms and surrounding areas;
analysis of similar properties on the market (how much an apartment of the same class in the same area costs today);

An independent appraisal company will definitely take into account:

area and floor of the apartment;
number of rooms and layout;
presence or absence of visible defects;
condition of the apartment building, finishing of entrances, floors;
infrastructure and landscaping of the yard;
prestige and environmental friendliness of the area.

The appraiser presents the analysis in the form of a final report, supported by applications (including photos).

How the procedure works: algorithm for evaluating a mortgage apartment

Companies use many different methods in their work, but comparative methods are considered the most popular and effective.
The assessment of an apartment for Sberbank is carried out from the point of view of already inspected and sold apartments. The correction factor is also taken into account - the newness of the house, the size of the living space, decoration and infrastructure are affected. The second option is costly. The expert calculates how much money is needed to build a similar facility.

The least popular method is profitable. A property appraiser calculates how much income a property would generate if it were rented out.

The real estate valuation procedure in the second case allows you to determine the liquid value of the apartment, and in the first - the market value. In most cases, both indicators are identical, only occasionally the difference is noticeable.

During the assessment, the expert inspects the premises, takes photographs, compares the actual picture with the BTI plans, identifies potential applicants for housing and checks for the presence of encumbrances.

Collateral Valuation Report

The time it takes to complete a report depends on the complexity of the object; on average, it takes 1-5 business days. Validity period: six months (from the date of submission).

The final conclusion consists of 20-25 sheets of A4 format with signatures of officials. The apartment appraisal report for mortgage includes:

Appraisal company data.
Information about the methods of real estate analysis used.
Information on the appraised apartment.
Comparative analysis of the real estate market.
Liquid and market value of housing.
Applications.

Particular attention is paid to the last part of the document, because... It is there that specific numbers and assessment results are indicated.

Why do you need a home appraisal for a mortgage with SberBank?

Real estate value assessment is an expert calculation of the total price of the property. This is the most current price at which housing can be sold at the moment. The bank will rely on the results of the assessment. In this way, he protects himself from the possible overestimation of the value of real estate and the subsequent cashing out of funds through fraudulent schemes.

Three types of real estate valuations are possible:

The market approach is an assessment of completed similar transactions with residential space.
The cost approach is the calculation of costs for the construction of similar real estate.
Income approach – which takes into account the chance of an increase in the market price of housing.

Mortgage for finished apartments SberBank, Lits. No. 1481

from 8.1%

per annum

from 300 thousand

up to 30 years old

Get a loan

A real estate appraisal when applying for a mortgage is necessary to determine the size of the loan issued for the purchase of this living space. The ability for the bank to take into account the market price of the living space allows it to insure itself in case of problems with loan repayment.

There is an unpleasant chance that the client will lose the opportunity to repay the mortgage debt; the lender will sell the property at the price specified by the specialists, and thus reduce his own losses to a minimum. The borrower engages real estate appraisal specialists and pays for their services. In this case, the borrower cannot choose any independent appraiser.

The appraisal process involves the participation of three parties - the borrower, the bank and the appraiser.

The bank agrees to accept the assessment of not all specialists present on the market. The reason for this mistrust is simple - the slightest mistake in the report can ultimately lead to financial losses for the bank.

Why do banks cooperate with appraisal companies?

The bank cooperates with appraisal companies and invites them to become partners so that borrowers do not waste time searching for an expert. Employees of the organization, taking into account all the nuances and features of the analyzed apartment, will be able to establish the exact market and liquid value of the property. At the same time, the bank will be confident that in the event of non-payment of the debt, it will be able to sell the assessed collateral at the established value.

How Sberbank works with companies or individuals not included in the list of appraisal firms

If the borrower decides to contact an appraisal company that is not accredited by Sberbank, then it is necessary to initially check the company for compliance with the established basic requirements. If any of the points are violated, the assessment report will be rejected.

It can be accepted under the following conditions:

the borrower informed in advance of his desire to cooperate with a non-accredited company;
the appraiser has provided all requested documents for verification;
the lender checked the organization for compliance with business reputation requirements;
Bank employees studied the finished report and checked it for compliance with the established parameters.

How to choose a company to evaluate

If you select a company yourself, the following algorithm looks reasonable. From the many companies that are presented on the bank’s website (Sberbank, for example, has a list of about 90 companies), you select 10-20.
Then monitor their websites, the section on prices, terms and additional services.
If necessary, you can call and choose one.

When choosing, you can focus on the following indicators:

Estimator visit time: 1-2 days.
Report completion time: 3-5 days.
Price. May vary. In megacities it starts from 2-3 thousand rubles.

Do you need an appraisal for a mortgage on a new building?

Judging by the reviews, some bank managers require such an assessment. In fact, this is not necessary - the amount for the apartment is set by the developer and indicated in the share participation agreement.

If you are planning to take out a mortgage loan, you will have to order an appraisal report in any case. Choose an organization that is responsible for hiring appraisers. Only high qualifications and responsibility guarantee an independent study and report that will be accepted by any bank.

Is a re-evaluation of an apartment necessary when refinancing?

If you are planning to refinance your mortgage - i.e. renew the mortgage loan agreement; a re-assessment will be required if the first report is more than six months old.

In fact, refinancing is a new agreement. Accordingly, the bank carries out all operations again. This includes finding out how much money he will receive if your deal is broken and the apartment has to be put up for auction. To do this, he needs data on the liquid value of housing.

If you decide to refinance less than six months after drawing up the appraisal report, then in theory there is no need to re-do it. In practice, you need to check with managers - judging by customer reviews, some managers still require you to redo the document.

Home Reviews SberBank

Mortgage in Sberbank, perhaps my unpleasant experience will be useful to someone. They approved it quickly, the appraisers underestimated the cost by 1.8-3 million. The usual template contract was for 2900. They imposed their own insurance, it was 2 times more expensive, the initial payment of 10% became 16%...

Yana Mortgage Rating: 2

Good day! In 2021, our family finally became the happy owners of a new apartment, but we and the sellers had to spend a lot of nerves. Perhaps my unpleasant experience will be useful to someone: 1. The mortgage in Sberbank was approved very quickly and until the housing was chosen, it was possible to get advice almost at any time, but as soon as the apartment was chosen, it became almost impossible to get through for consultation. 2. Appraisers underestimate the cost of housing by 180,000-300,000 rubles. When you find out about this, the process has already started, you have already spent the money, but this is not the main thing, when you reach the finish line, they will reduce your initially approved loan exactly as much as the appraiser assessed the apartment, therefore, immediately calculate your finances and have an additional 300 thousand in reserve. 3. The agreement for which Sberbank charges 2900 is an ordinary template, a mortgage specialist can correct it only at the time of the transaction, although all amendments were announced in advance, spending a lot of time and under your understanding dictation. If you refuse it, they will cling to your version of the contract... 4. On the Domklik website it is written that you can get insurance from any of the organizations they list, but during the transaction they told us that they had prepared an insurance contract from Sberbank, although we did not give consent, we were told to either reschedule the deal (and we waited for it for 2 weeks), or pay, and we paid, fortunately the insurance company with which we had previously signed an insurance contract turned out to be decent and returned our money. I note that insurance in Sberbank is twice as expensive. 5. The promised down payment of 10% smoothly flowed into 16%, since the loan amount was reduced and I had to pay more. 6. The so-called secure payment service is pure extortion of money. It can still justify itself when the transaction is in another city or country, but within one city it is absolutely useless, especially when both the buyer and the seller are both clients of Sberbank. By the way, if you are not a Sberbank client, they will charge you a very decent amount for the transfer... 7. We managed to refuse the electronic registration, which was stubbornly imposed on us, we took the documents to the MFC ourselves and picked them up ourselves, everything went through within a week. Prepare the documents yourself through the FMC, it will be three times cheaper, but you will have to spend time. By the way, if you use the services of their realtors, who are not cheap, everything goes more or less smoothly. I wish everyone to avoid these pitfalls or choose another bank where there is no such mockery of people.

Write a comment 1

November 26, 2021, 14:50 Moscow

Who orders a real estate appraisal, the seller or the buyer?

The buyer pays for the appraisal of the seller's property. This is logical - the buyer is interested in obtaining a mortgage, and accordingly, the buyer is interested in the assessment procedure. There is no point in the seller spending his money - it is easier to wait for a buyer in cash.

Therefore, we recommend ordering an appraisal only when you are already sure that the purchase and sale transaction will be completed without problems.

Once again, the buyer pays for the appraisal, so first collect all the documents, make sure the apartment is clean, and only then apply to set the appraisal amount so as not to waste money and time.