What is the importance of SPK licensed organization in appraisal?

What is the importance of SPK licensed organization in appraisal?

In real estate appraisal processes, regardless of the type and condition of our real estate; it is required to conduct state-approved assessments in order to advance the process in accordance with the law. These appraisal processes are appraisals that must be conducted in accordance with completely independent and impartial principles, and as a result, the value of real estate can be determined in line with the market and the law.

At this point, the importance of the SPK licensed organization in the appraisal emerges. Because both impartiality and technical knowledge and professionalism are required in the appraisals, professional appraisal companies with SPK licenses are needed for the real estate to be evaluated. In general, real estate appraisal companies complete all the activities required for the appraisal processes of a real estate under one roof by controlling it within themselves.

Among the types of companies that are split into two as licensed appraisal companies and unlicensed appraisal companies in our country, it is recommended to choose SPK licensed companies in appraisal needs, as licensed companies can work more professionally and more widely. Appraisal firms that have a license are also split into two as SPK licensed and BDDK licensed ones.

Appraisal companies that have a SPK license include companies that have been listed by this board in accordance with the communiques determined by the Capital Markets Board, which we call SPK. Since state-approved expert appraisal transactions can be conducted by these companies, the importance of the SPK licensed entity in real estate appraisal is undeniable.

Appraisal processes of SPK licensed organizations

A person or institution applies to the appraisal company for appraisal needs. After that, SPK licensed appraisal companies send a licensed real estate expert belonging to their company in the region where this real estate is located to determine the real estate on the spot, as well as to conduct a review in the organizations to which it is affiliated. As a result, detailed information about the market value and legal status of the real estate is reported professionally.

After that, this report is sent to the Auditor, all tasks in the standard of the business process are applied, and the report is sent back to the appraiser responsible for the report, and experts in SPK licensed organizations review the documents and make the eappraisal report final. The prepared report is forwarded to the relevant institutions and persons.

Principles of SPK licensed organizations in Real Estate Appraisal

  • Timeliness
  • Responsibility
  • Independence
  • Assessment of Situations That Eliminate Independence
  • Professional Care
  • Obligation To Keep Secrets
  • Close monitoring of acceptance and transfer of work processes
  • Fulfilment of Contractual Obligation
  • Determination of The Fee
  • Completely Fulfilment of The Appraisal Report
  • Completion of Professional Liability Insurance
  • Fulfilment of Notification Obligation
What is the importance of SPK licensed organization in appraisal?
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