Real Estate Valuation

After completion of the course, students will know the principles and factors of land and other real estate valuation, the main factors that determine the changes and values of the land market. Students will be able to describe the legal basis of ownership, the specifics of the work of real estate appraisers, name the values to be determined, in which cases real estate is appraised, explain the value theory, factors affecting value, get acquainted with different real estate appraisal methods. Students will be able to determine the value of land and buildings, apply different valuation methods and techniques when valuing real estate for various purposes

To develop the ability to value real estate

Students must have studied the following disciplines: Real Estate Cadastre and Register, Land Law

1. The need for real estate appraisal. 2. Lithuanian Association of Property Appraisers. 3. Legal bases of ownership. 4. Basic concepts of property valuation. 5. Different types of value. 6. Real estate markets. Peculiarities of the agricultural land market. 7. Objects and cases of property valuation, property valuation documents. 8. Property valuation procedure. 9. Property appraiser, his rights and obligations, code of professional ethics of property appraiser. 10. Property appraisers multi-level qualification system, qualification education and professional experience 11. Replacement value method and its application. 12.Methods for calculating the market value : sales comparison approach (comparable value), 13. Operating income value method. requirements. 14. Preparation of property valuation report.

1. Valuation of residential real estate by the method of comparable value, market exclusion, search for comparable objects 2. Valuation of commercial real estate by indirect methods of comparable value has been applied - gross income index, net income ratio, total area method 3. The value of commercial real estate has been calculated using the value in use income method - cash flow forecasts, calculation of net income and discounting 4. A real estate appraisal report has been prepared 5. Analysis of individual evaluation cases during seminars