Property valuation report (operat szacunkowy) – what is it?

Among the various forms of property valuation, one stands out in particular – the property valuation report (operat szacunkowy). How does it differ from the others? When is it worth choosing this method of valuation?

• The valuation report – features
• How the valuation is carried out
• Final steps
• Assessing the valuation

The main difference between a property valuation report and other methods of valuation is that the report is an official document. Put simply, this means that the report is more credible than an ordinary valuer's opinion.

The valuation report – features

This document, like other official forms, must meet certain conditions. This applies above all to the information that must appear in the valuation report. The valuer who prepares the document must indicate the specific legal grounds applied during the work and propose solutions. They must present the final result and the calculations that led to it.

The core and most important part of the property valuation report is the way the valuation is carried out – it is precisely thanks to a detailed description of this process that the credibility of the opinion can be assessed.

How the valuation is carried out

The valuer first defines the subject and scope of the valuation and its purpose. Next they state the formal basis and list the sources from which they draw data on the property. The next step is to specify the range of dates that matter for the value of the building.

Only now does the person preparing the opinion move on to describing the condition of the property, its type, intended use and so on. Then they present an analysis of the property market, or at least of the part of it directly related to the subject of the valuation.

The last part is devoted to calculating the property's value – it includes a description of the chosen methodology, a presentation of the exact calculations and a justification of the final result of the valuation.

The amount is given in whole PLN; rounding it is also permitted.

Final steps

For the valuation report to be valid, it must be signed by the property valuer (rzeczoznawca majątkowy) and bear a dated stamp. Where several valuers prepare the document, each is responsible for the part of the valuation they prepared, likewise adding the appropriate signature and confirming it with a stamp.

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Assessing the valuation

The valuation report is, in a sense, a subjective document. It therefore sometimes happens that two independent valuations of this kind are produced – showing different results. If necessary, the property valuation report can be submitted for assessment. Its compliance with the letter of the law and with the professional standards of valuers is then checked. Along the way, it is also assessed whether the valuation is complete and reliable.

An important piece of information is the report's period of validity – it is 12 months from the date it is prepared. However, changes may occur that rule out use of the report before the expiry date, for example in the purpose of the valuation or in the property's designation in the local zoning plan.