I. Property owner (unit): ××××
II. Appraisal Purpose: Appraisal of compensation price for demolition.
III. Appraisal Date: April 8, 2002 to April 15, 2002.
Iv. Appraisal time: April 15th, 2002 (approaching the demolition date)
V. Valuation basis
1. Law of the People's Republic of China on Urban Real Estate Management
2. Standard for Real Estate Appraisal of the People's Republic of China;
3. Appraisal power of attorney:
4. What the appraisers know through investigation;
5. Property Ownership Certificate (No.0031100);
6. the State Council's Regulations on the Administration of Urban House Demolition and Xinxiang City Demolition Compensation Standard.
VI. Valuation Principles: This appraisal report follows the principles of fairness, fairness and openness, combining the appraisal purpose and the specific situation of the appraisal property, and specifically follows the appraisal time principle, the highest and best use principle and the substitution principle.
Vii. Valuation method: According to the characteristics and actual situation of the appraisal, this report adopts the market comparison method and the income reduction method to evaluate the real estate for demolition as a whole. As for some unlicensed structures, walls and the land occupied by them, they have been included, but their values are not listed separately. In addition, although the compensation guidance price of Xinxiang Municipal People's Government's demolition regulations is not fully adopted in this report, this is because the decoration, decoration and height of the house to be demolished are not fully considered in the guidance price. This report is mainly based on the spirit of the national standard "Code for Real Estate Appraisal" of the People's Republic of China.
VIII. Appraisal Results
This appraisal is based on the information about the subject matter, according to the appraisal purpose, following the appraisal procedure, adopting the scientific appraisal method, and on the basis of careful analysis of the data, after careful calculation, combined with the appraisal purpose and evaluation experience, the compensation price of the appraisal object at the appraisal time is calculated as follows:
RMB in figures: 206,247 yuan.
In words: two hundred and sixty-two thousand two hundred and forty-seven yuan.
IX. Validity period of appraisal price
The appraisal period of this report is half a year, and it will take effect on April 15th, 2002. With the passage of time, the real estate market situation and the appraisal object's own situation change, and the market value of the appraisal object will change accordingly, and the appraisal result needs to be adjusted accordingly.
X. Appraising the scope of price application
The results of this appraisal report are only for reference when the demolition department compensates, and are not used for other purposes.
XI. Assumptions and restrictions of valuation
1. Valuation assumptions
Our appraised value is the current price and the reference price to compensate the demolition appraisal object at the appraisal time. Suppose:
(1) There are voluntary sellers and voluntary buyers;
(2) The property can be freely transferred in the open market;
(3) When the transaction is completed within a proper period, the property nature and market conditions can be considered comprehensively for bargaining;
(4) Do not consider the extra price of special buyers.
2. Restrictions
(1) For the receipts related to the building area of the real estate, the real estate license provided by the entrusting party is the legal basis, and the entrusting party has not provided relevant land information for the land area.
(2) In this report, the compensation price for demolition refers to the real estate appraisal in which the appraisal result is exclusively used for the demolition and compensation demolition to negotiate the compensation price of the demolished house, excluding the relocation allowance and the compensation price for the suspension of production and business due to the demolition of non-residential houses.
(3) Without the written consent of the appraisal unit, all or part of this report and any relevant materials are not allowed to be quoted in any publicly published documents, notices or statements, and the right to interpret this report belongs to the appraisal unit.
XII. Special statement
1. The analysis, opinions and conclusions in this appraisal report are people's own impartial professional analysis, opinions and conclusions, but they are limited by the assumptions and restrictions explained in this appraisal report.
2. We have no interest in the appraisal object in this appraisal report, and we have no personal interest or prejudice with the relevant parties.
3. We made an analysis according to the national standards of the People's Republic of China, Code for Real Estate Appraisal, and the State Council's Regulations on Urban House Demolition, formed opinions and conclusions, and wrote this appraisal report.
4. We have made a field survey of the appraised object in this appraisal report, and we are responsible for the objectivity, authenticity and impartiality of the field survey of the subject matter. However, the appraisers' investigation of the subject matter is limited to the appearance and usage of the subject matter. Unless otherwise agreed, the appraisers are not responsible for investigating the structural quality of the appraised subject matter and inspecting the covered, unexposed and inaccessible parts.
5. No one has provided important professional help to this appraisal report.
Description part of valuation analysis
I. Overview of the Appraisal Property
The subject matter appraised in this report is a real estate located at XX Shengli Road, Xinxiang City, and the ownership of the house belongs to XXX. This person holds the house ownership certificate (new house ownership certificateNo. XXXXX) issued by Xinxiang Municipal People's Government, and the specific scope of appraisal is the buildings and some supporting structures contained in the house ownership certificate and the land occupied.
2. Location and environmental conditions
The appraised object is located at XX Shengli Road, Xinxiang City (the intersection of XX and XX). The house is adjacent to XXX in the south and XX commercial pavement in the north. In front of the door is Shengli Road, the main road of Xinxiang City, which belongs to the second-class section of Xinxiang City (according to the original regional division standard). The back of the building (that is, the east side) is a residential building, which is used to supervise the Weihe River. The appraised real estate belongs to the commercial premises being rented, which is located in Xinxiang city and municipal commercial services, with high housing utilization rate, and is an ideal place for real estate investment and business.
3. Description of the basic condition of the building
The subject matter of appraisal is a two-story brick-concrete structure building. The construction time is 198 1 year. At present, the ground floor is a commercial place for rent, with ancient imitation brick tiles pasted on the front wall, signboards hung on the front wall on the second floor, double-opened glass spring doors, granite floors laid on the first floor, and patterned cloth pasted on the wall. The top floor is a light steel keel ceiling, and then a lattice wooden shed is set up for convenient operation. The door frame has been decorated and frosted to open the door. At present, the second floor is the residence of commercial operators, which belongs to leasing. Ordinary floor tiles are laid on the ground, the inner wall is painted with 888 paint, and some wallpaper is pasted. The space is separated by frosted glass, and the roof is cast in place. The second floor is equipped with outdoor stairs. Because the building has been rebuilt, for the convenience of operation and use, the stairs are closed to the south and the east wall of the second floor is completely closed (including the temporary roof). According to the on-site survey and investigation of the appraiser, the length of the north wall of the appraised property is 8. The front wall facing the street is 6.45 meters, and the total construction area (property right certificate) is 78.90 square meters. After the second decoration, the building is in good condition. According to the provisions of the Compensation Standard for House Demolition of Xinxiang Municipal People's Government, the new rate of the house is 90%.
Second, the valuation procedure
1. Professionals organize an evaluation team and draw up an evaluation work plan.
2. Check and approve the drawings, materials and other relevant documents related to the appraisal object.
3. Investigate the area, topography, landform, location and building structure of the subject matter.
4. Evaluate and calculate, and write and submit an evaluation report.
Third, the choice of evaluation methods
Because there are many transactions of the same type of real estate in the market at present, it is better to choose the market comparison method for evaluation. Because the business house is currently a rental income house, it can be evaluated by reduction method. Finally, the valuation results of the above two methods are weighted and calculated, and the price of the demolition target is obtained.
Fourth, the evaluation and calculation process
(A) the market comparison method
1. formula of market comparison method: market comparison method refers to an appraisal method that compares the appraised object's real estate with similar real estate that has been traded in a relatively recent period, and corrects the most likely reasonable price of the appraised object's real estate from the known price of similar real estate that has been found to be traded. Its basic formula is:
Real estate price to be appraised = transaction instance price × transaction situation correction × transaction date correction × regional factor correction × individual factor correction.
2. Choose comparable cases
After screening, it is determined that four transactions, A, B, C and D, are comparable cases.
case
The location of the project and the area where it is located, the category and use, and the transaction time price of the building structure.
(Yuan/m2)
A 6th Floor, Business Brick-concrete Structure, Intersection of Pingyuan Road and Laodong Road1-2/6000.100010060606
B 6th Floor, Commercial Brick-concrete Building at the intersection of Shengli Road and Jiangzhuang Street1/61999.83100.
C 6th Floor, Business Brick-concrete Building, East Renmin Road 1/62000.42900
D Floor 6, Business Brick and Concrete Building, Dongguan Street, Old Town, Xinxiang City 1/62000.82600
3. Valuation calculation
(1) correction of trading situation
The transaction prices of comparative examples A, C and D are all the selling prices of production and development companies, and the prices are relatively normal. Comparative example B is an abnormal transaction, so it should be appropriately revised. Let the transaction price index of the appraised object be 100, and the transaction price index of comparative examples A, C and D is 100, and that of B is 95.
(2) Revision of transaction date
The transaction dates of Examples A, C and D are all in 2000, and the transaction date of Example B is 1999. Since the sales market of real estate offices has remained basically unchanged in the past year from 2000 to 2001year, there is no need to correct the transaction date. If the transaction date correction instruction of the appraised object is 100, then A, C,
(3) correction of regional factors
Because the comparable example is different from the appraised object in external environment, such as location, traffic accessibility, prosperity, residential area, surrounding environment and other factors, it should be revised. Through comparative analysis, Comparable Example A is located at the intersection of Labor Road and Pingyuan Road, with a slightly stronger location and prosperity than the assessed object, a more suitable surrounding environment and a better road accessibility. Comparable example B is located at the intersection of Shengli Road and Jiangzhuang. The location and prosperity are better than the assessed object, but the traffic accessibility is not as good as the assessed object, and the surrounding environment is similar to the assessed object. Comparable example C is located in the east section of Renmin Road, but the location and prosperity are not as good as the appraised object, but the traffic is accessible. Comparable example D is located in Dongguan Street, the old urban area of Xinxiang City, but the location, prosperity and traffic accessibility are not as good as the appraised object, and the residential area is better than the appraised object. Let the regional factor correction index of the location of the appraised object be 100. Through the analysis in the following table, it is concluded that comparable example A is 105.
Regional factor correction table
Regional Factor Weight Appraisal Object Example A Example B Example C Example D
Lot 0.110010110110.
Traffic accessibility is 0.21001109510085.
Prosperity 0.41001051109085
Residential area 0.1100110115.
Surrounding environment 0.21001051059580
Subtotal11021051069789.50
< 4> Individual factors
Due to the differences in the use function and quality of the real estate itself, the price difference, such as the street-facing state, building structure, decoration, use nature, area and shape, affects the transaction price. Through comparative analysis, A, B, C and D are newly-built houses without decoration, and their structures are better than the appraised object, and their use nature is business rental, and their areas and shapes are better than the appraised object. Let the individual factor correction index of the appraised object be 100, and the individual correction factor indexes of A, B, C and D are 1 18, 1 15,11respectively.
Individual factor correction coefficient table
Individual factor weight appraisal object Example A Example B Example C Example D
Building structure 0.3100140140140.
Decoration 0.2/kloc-0.2 10095959595
Usage property 0.2100100100100.
Street-facing status 0.21001201109085
The area shape is 0.1100130120110.
Subtotal1100181151109
< 5> Quasi-price calculation
According to the calculation formula of market comparison method, the reference price is calculated as follows:
Project transaction price transaction situation correction transaction date correction regional factor correction individual factor correction reference price
(yuan/square)
A3250 100/ 100 100/ 100 100/ 105 100/ 1 182623
B3 100 100/95 100/98 100/ 106 100/ 1 15273 1
C2900 100/ 100 100/ 100 100/97 100/ 1 1027 18
D2600 100/ 100 100/ 100 100/89.5 100/ 1092655
Because the above four reference prices are close, the arithmetic average of them is the object price:
2632+2732+37 18+2655
Unit price of the appraised object = —————————— = 2682 yuan/m2.
four
Price of appraisal object = 2682× 78.9 = 211609.
< Second > Income reduction method
1. Income reduction method (called income method) is a valuation method that uses appropriate reduction interest rate to convert future net income into present value. Its basic formula is:
V=a/r[ 1- 1/( 1+r)n]
Where: V is the real estate price.
R is the reduction rate.
N is the number of years of future earnings.
When using this method to evaluate, it is very important to determine the net income and the reduction interest rate. When determining the net income, we consider not only the actual property, but also the objective income of the property, that is, the general normal income obtained after excluding the special and accidental elements in the actual income.
2. Data collection and parameter selection
Through investigation, analysis and collection of relevant information are as follows:
(1) According to the housing rental situation in different sections of Xinxiang City, calculate the housing rent level and determine the total real estate rent of 2,300 yuan.
(2) The real estate tax (property tax, business tax, urban construction tax and education surcharge) is 17.5% of the total income.
(3) The repair cost is 3% of the present value of the house.
(4) The annual depreciation expense is calculated at 1.5% of the replacement price of the house.
(5) The insurance premium is 3‰ of the present value of the house.
(6) The management fee is calculated at 3% of the annual rent.
3. Calculate the total income = 12×2300 yuan/month =27600 yuan.
4. Calculate the total cost
(1) real estate tax
Real estate tax =56400× 17.5%=4830 yuan.
(2) Management fee:
Management fee =56400×3%=828 yuan
(3) Repair cost:
House depreciation expense =830 yuan/m2×1.5 %× 21× 78% = 20628 m2.
Present value of the house =830×78.9-20628=44859 yuan.
Repair cost =44859×2%=897 yuan.
(4) Depreciation expense:
Depreciation expense =830× 1.5%×78.5=982 yuan.
(5) Insurance premium:
Insurance premium =44859×3%= 134 yuan.
(6) Total cost:
Total cost (1)+(2)+(3)+(4)+(5) = 4830+828+987+982+134 = 7671yuan.
5. Annual net income
Annual net income (a)= annual total income-annual total expense = 27600-7671=19929 yuan.
6. Determine the comprehensive reduction rate of real estate.
The reduction interest rate is determined by the method of safe interest rate plus risk adjustment value. According to the one-year fixed deposit interest rate (safe interest rate) 1.89% recently released by the People's Bank of China, and according to various social and economic factors that affect the appraised object, the land risk adjustment coefficient is 7% and the housing risk adjustment coefficient is 8% under low risk, using the formula:
Risk adjustment coefficient =Xγ 1+Yγ2
Where x is the proportion of land price in real estate price, and y is the proportion of real estate price in real estate price.
Risk adjustment coefficient =7%×0.6+8%×0.4=7.4%
γ = safe interest rate+risk adjustment coefficient = 1.89%+7.4%=9.29%.
7. Calculate the real estate price
Selection of calculation formula
a 1
V=— × [ 1 — ———— ]
r ( 1+r)n
N refers to the service life of the house. The appraised house is of brick-concrete structure, and the economic service life of the non-productive house is 50 years according to regulations. The house was built in 198 1 year, and has been used for 2 1 year, so the service life is n=50-2 1=29. Substituting the above parameters into the formula, we can get:
1 19 1
V=——— × [ 1 — —————— ]= 198204
9.29% ( 1+9.29%)29
(3) Through the different application of the above two valuation methods, the real estate value assessed by the market comparison method is 2 1 1609 yuan, and the real estate value assessed by the income reduction method is 198204 yuan. According to the requirements of the real estate appraisal standard, the weighted value of the appraisal result of the market comparison method is 0.6, and the weighted value of the appraisal result of the income reduction method is 0.4, and the comprehensive appraisal of the real estate value is as follows:
2 1 1609×0.6+ 198204×0.4=206247