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Valuation of non performing or unsafe structures

 
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snpailoor



Joined: 22 Sep 2009
Posts: 37

PostPosted: Fri Oct 04, 2013 11:03 pm    Post subject: Valuation of non performing or unsafe structures Reply with quote

Dear Anilji, It is my question to you that , how to value a non performing or unsafe structure(Residential building)? If I am being asked to by the banker to value such building what i  should do? If any mandate or self aclaimed regulation should i follow ? If a mason or a contractor (non qualified) completes the building without any engineering supervision,till roof salb level and approaches a bank for loan assistanceand if if i am being asked for valuation, what precautions should i take while valuing the same? If the panel lawer ignores the town planning regulation (layout approval etc) in his legal opinion, what is my stand on that property when i being asked for valuation? If the owner of the property fails to supply all the documents  before me, how it could be handled? If the building is absolutely non performing, i mean abondened, what is to be done? Weather we valuers are empowered to ask structural design of a framed structure if any doubt arises in the time of  site visit? Senior valuers please guide? thanking you all. with kind regards. snpailoor
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anildhope



Joined: 17 Jun 2008
Posts: 514

PostPosted: Tue Oct 08, 2013 8:42 am    Post subject: Reply with quote

For any such valuation, ownership documents & approved map of the building is must. If the construction work is done without an engineer/consultant, you must by your experience check the soundness of the building, if you are not satisfied by the structural safety of the building, report to the banker. Still if the banker insists for the valuation, then do the valuation, with a note of structual problems noted by you & your comments which may results due to unsafe structure & specifically write, that bank loan may be unsafe due to unsafe structure, also insist for insurance of the building.

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snpailoor



Joined: 22 Sep 2009
Posts: 37

PostPosted: Tue Oct 08, 2013 10:24 pm    Post subject: unsafe structures Reply with quote

dear sir, thank you very much for your advise.i will improve my quality in my next assignments. snpailoor.

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