Your property valuation partner: TÜV SÜD

Transcription

1 Your property valuation partner: TÜV SÜD Independent and approved. TÜV SÜD ImmoWert GmbH

2 Property valuation by TÜV SÜD ImmoWert GmbH Premium valuation expertise Impartial and independent Confidentiality assured International and regional representation Standardised valuation methods

3 TÜV SÜD ImmoWert GmbH your real estate analyst. Expert. Independent. Reliable. Property is regarded as a safe form of investment. Property stands for good loan security. Property serves as a capital asset base for business companies. However, objective advice is vital where decisions must be made concerning the acquisition, sale and value of property as collateral. Given this, independence and impartiality are essential prerequisites for the preparation of reliable valuation reports. TÜV SÜD ImmoWert GmbH concentrates on the valuation of residential, commercial, hotel and leisure and specialised properties. Valuation reports prepared by TÜV SÜD ImmoWert GmbH consider not only measurable details of building fabrics, property markets or location quality, but also take regional and cross-regional trends into account with impartiality and objectivity. This enables specific assessments to be made of the long-term value projections and trends of a property. TÜV SÜD ImmoWert GmbH relies on an extensive inhouse database of assessment criteria, supplemented by data sourced from carefully selected and impartial partner analysts and purchase price records. This enables property valuations to be made within a macro-economic framework, whilst also including the property s relevance in its specific market sector and a host of other possible scenarios. Valuations carried out by TÜV SÜD ImmoWert GmbH are entirely independent of external influences. They focus exclusively on legal framework conditions, business analyses of day-to-day management, geographic and market factors, and the building s condition and state of repair. We inform you quickly and objectively as to whether your property is correctly priced in the market, providing you with additional certainty. Valuation reports prepared by TÜV SÜD ImmoWert GmbH, your real estate analyst, provide banks, real estate investors, funds and insurance companies and corporate and private individuals with clear and concise information as to the value of a property. Our services at a glance Valuation reports determining market value (MV) in accordance with International Valuation Standards Valuation reports to Red Book standards (RICS Valuation Standards) Determination of mortgage lending value (MLV) in accordance with International Valuation Standards Valuation reports for national and international financial reporting, Fair value as per IFRS Insurance valuations (insurable value) Property consulting services Portfolio valuation Building inspections including value indications

4

5 For everybody interested in the current market value of a property. Market value as per international valuation standards An impartial determination of the current market value is helpful in purchase and sales processes, financial reporting, tax, inheritance, contract or marital law issues. These valuations are recognised by courts and internal revenue services and used as the basis for fair settlements between the parties in case of dispute. Commission TÜV SÜD ImmoWert GmbH, your real estate analyst you can trust, to determine the market value of your property. Determination of market values within the scope of: Identification of the correct purchase and sales prices of property, including as part of the profitability analysis of projects and / or refurbishment measures Risk assessment and financial reporting under the provisions of Basel II / Basel III Submission to the revenue and tax authorities for financial and tax computation purposes Settlement of inheritance or divorce disputes Asset valuation, for example within the context of insolvency proceedings and foreclosures Determination of compensation / cost allocation (refurbishment and land development procedures or areas of land allocation) Property financing Complex asset transfers You obtain: A detailed description of the property (micro- and macro-economic assessment, site characteristics) A description of the legal framework conditions (land register, building code, encumbrances, etc.) A current market analysis including assessment of geographic data A detailed description of the building plus assessment, including type of construction, building services and fit-out, state of repair, exterior facilities, situation with regard to lettings, etc. Separate determination of the land value and the value of the structure Determination of other circumstances relevant for the value of a property (e.g. construction defects, charges register of the Land Registry, lease contracts, vacancy rates, etc.) Determination of the market value in accordance with international regulations In addition, TÜV SÜD offers plausibility checks or updating of existing expert reports.

6

7 Using property as mortgage backed security. Mortgage lending valuation (MLV) in line with international valuation standards Banks, insurance companies, mortgage agents or brokers require collateral as security for their services. Property is typically used for this purpose. TÜV SÜD ImmoWert GmbH will investigate the suitability of your real estate for mortgage purposes in line with strict legal requirements and with TÜV SÜD s hallmark impartiality, objectivity and expertise. Mortgage lending valuations Are ideal for long term financial planning and decision-making Are required for mortgage bank lending in line with international valuation standards Are used as recognised collateral in property financing Are used to offer mortgage lending value (MLV) to international banks and investors You obtain: A detailed description of the property and its planning constraints An up-to-date market analysis including assessment of the quality of the location A detailed building description plus property rating Determination of the market value, taking into account all relevant components Information about letting prospects and marketability Information about suitability for use by third parties and for mortgage bonds In addition, the TÜV SÜD experts certified by HypZert perform plausibility checks on international expert reports, review and provide follow-up assessments of existing expert reports.

8 Appraisal of fair value in accordance with the International Financial Reporting Standards Owners of existing property and investors who prepare IFRS financial statements are required to include their property and their lease contracts at fair value according to IFRS. TÜV SÜD ImmoWert GmbH determines the fair value of property and plant & machinery based on effective IFRS definition. Reports are transparent with respect to applied valuation methods as well as the source and nature of valuation data sourced from the market. Fair value reports are easy to verify. Fair value reports For including the fair value of property in financial statements Required by International Financial Reporting Standards Accepted by auditors Transparent and traceable valuations Highest-and-best-use concept Valuation on group or stand-alone basis You obtain: A detailed description of the property (micro- and macro-economic assessment, site characteristics) A description of the legal framework conditions (land registry, building code, encumbrances, etc.) An up-to-date market analysis including assessment of the location quality A detailed building description, including type of construction, building services and fit-out, state of repair, exterior facilities, situation with regard to lettings, etc. Determination of land value Calculation of depreciated replacement cost and the income approach Determination of other circumstances relevant to the value of a property (e.g. construction defects, charges register of the Land Registry, lease contracts, vacancy rates, etc.) Determination of the fair value TÜV SÜD generally updates fair value reports at regular intervals. A repeated on-site inspection is not always necessary. Your additional benefit: TÜV SÜD offers expertise from a single source. Our experts offer a multi-disciplinary approach. We can also provide separate reports on plant & machinery or building services equipment.

9

10

11 Insurance valuation (replacement value) Property owners must ensure insurance cover for loss of buildings caused by fire, flood or other damage events. It is critical in this context that they insure their property at the correct value. Underinsurance may jeopardise the replacement or restoration of your property; when you are over-insured, the premium you pay may be excessive. TÜV SÜD ImmoWert GmbH determines the insured value of your property, applying international standards. Insurances recognise and appreciate our independence, impartiality and expertise, providing you with additional certainty. You obtain: A detailed building description including type of construction, building services and fit-out, exterior facilities A report differentiating between building and machinery, systems or building services equipment An estimate of the replacement costs An estimate of the demolition costs following a damage event Assessment of other circumstances relevant for current value (e.g. construction damage, depreciation) The definition of an index starting point The determination of the insurable value of the insured buildings You should have your insurance valuations updated by our experts at regular intervals. Your additional benefit: Benefit from multi-disciplinary expertise and professional know-how from a single source: TÜV SÜD. We can also provide separate reports on machinery and systems or building services equipment.

12 For a concise overview of the value of your properties. Portfolio valuations / portfolio analyses Banks, companies, housing corporations, institutional investors and property funds may require valuations of larger groups of property assets. Portfolio valuations and analyses are ideal decision-making aids in the financing, sale, re-organisation or purchase of real estate assets, or to provide an honest and accurate statement of tangible assets in the financial statements of the annual report. When analysing your property portfolio, rely on TÜV SÜD ImmoWert GmbH a partner who supplies valuations that form the basis of your landmark decisions. Portfolio valuations prepared by TÜV SÜD ImmoWert GmbH are supported by the use of a database. Depending on the task in hand, we check relevant information, documents and data. We look at physical characteristics of properties, mix of tenants and tenancy agreements, service-charge and management accounts and nonrecoverable outgoings. The experts at TÜV SÜD ImmoWert also examine public grant aids, financing structures, interest rates, fungibility and many other facets. To complete given information and to ensure regular and complete flow of information we carry out external and internal on-site inspections. To assist in decision-making in respect of purchase, sale, modernisation and refurbishment and their appropriate scheduling, we ensure transparency regarding value enhancement, improvement in liquidity, performance optimisation and risk minimisation. Portfolio analyses are carried out for optimum simulation of scenarios and sensitivity analyses in relation to revenue and cost, identifying the risks and opportunities involved in your property portfolio. Providing you with transparency. Depending on the terms of reference, portfolio analysis is carried out either as aggregated individual asset valuation, line valuations or analyses of predefined clusters of assets.

13 Efficient documentation solution for large property portfolios. ImmoVisit The inspection of large property portfolios is time-consuming and requires a lot of personnel. Our experts take this task off your hands with ImmoVisit, visiting individual properties in Germany on your behalf. Qualified and trained experts with long-standing experience in the construction, architecture, civil engineering, surveying and inspection sectors ensure sound and reliable information. You can determine the level of detail to which the individual property will be examined. No ImmoVisit records will leave TÜV SÜD without a prior quality check. From residential properties to small commercial properties such as shops or small commercial units the current condition of every property is recorded and documented with digital photos. The digitally signed reports are archived and managed in an Internet-based TÜV SÜD portal. You can monitor the current status and progress of your project online at any time. ImmoVisit is a tool based on comprehensive on-site surveys and statistical data that provides information about the macro-situation and usability of your property. Based on the inspection record and a comprehensive database, we can complement the product with an indication of value which, helps financiers in their internal processing (e.g. credit lending). Your benefits: You obtain an efficient, safe and cost-effective solution to document your property. You save time and ease your workload and that of your staff. You pay no utilisation or licence costs. You can manage and archive the recorded properties and add your own data. ImmoVisit provides you with a highly accurate indication of value or the POC of you property. You ensure legal compliance by fulfilling the requirements of the Supervisory Board. You efficiently monitor your properties, so that risks are identified in an early stage of development. You obtain a paperless e-business solution.

14

15 TÜV SÜD ImmoWert GmbH German representations and international network TÜV SÜD ImmoWert GmbH operates eight offices in Germany located in Berlin, Chemnitz, Essen, Frankfurt, Hanover, Hamburg, Munich and Stuttgart. Thanks to this regional presence we offer a high level of local knowledge in the various markets and top availability of contact persons and expert staff to assist you wherever you are in Germany. To support our clients with valuations and consulting regarding international properties, TÜV SÜD ImmoWert GmbH maintains a constantly growing network of highly qualified partners in various European real-estate markets. Our partners are top service providers in their countries, ensuring the same high level of competence, independence and reliability that TÜV SÜD stands for. They hold all required local accreditation to perform valuations and are local experts in their own real estate markets. TÜV SÜD ImmoWert GmbH is EN ISO 9001-certified as well as RICS regulated, giving you the assurance of working with a professionally managed partner, with internationally acknowledged processes and standards of service. TÜV SÜD ImmoWert GmbH your real estate analyst offers: International property valuations Local experts and market analysis Access to the latest transaction data Sourcing of detailed property-specific data Assessment of the letting prospects and market value of your property Individual appraisals and reports on property development projects On-site visits plus value indication (ImmoVisit) Compare Value, our own benchmarking database Continuous exchange of experience and information plus internal and external continued training measures ensure that our professionals are always well up to date in an ever-changing property scene.

16 Contact us. Our mission is to provide you with consulting services. TÜV SÜD ImmoWert GmbH stands for security and added value in all areas of property valuation. We offer national representation and international services. For further questions or information, do not hesitate to contact us. TÜV SÜD ImmoWert GmbH Westendstr Munich / Germany Tel.: +49 (0) Fax: +49 (0) property.valuation@tuev-sued.de Id-Nr EN.IWXX S&P