Real Estate Appraisal II

Total Hours in Course200

Number of hours for lectures24

Number of hours for laboratory classes56

Independent study hours120

Date of course confirmation23.02.2021

Responsible UnitInstitute of Land Management and Geodesy

Course developers

prof.

Vivita Puķīte

Dr. oec.

Aina Palabinska

Mg. oec.

Prior knowledge

JurZ3043, Real Estate Appraisal I

LauZ2056, Geology and Soil Science

Replaced course

JurZB006 [GJURB006] Real Estate Appraisal II

Course abstract

Real Estate Cadastral Valuation:
During the study course students get an idea of the importance of cadastral valuation of real estate. Students gain knowledge about the process of cadastral valuation of real estate. Gains knowledge of the main factors that affect the cadastral value of real estate. Students Acquire basic skills in cadastral valuation of rural and building land, as well as in cadastral valuation of buildings, apartment property and engineering structures.

Real Estate Market Valuation:
Students learn the norms regulating the market value of real estate and other range of information that is necessary to determine the market value. Acquires knowledge of real estate valuation methods used in practice. Real examples are used to calculate the market value of real estate. Gains knowledge of compiling an evaluation report. Acquires the professional requirements of an appraiser.

Learning outcomes and their assessment

Real Estate Cadastral Valuation:
1. Knows the legal aspects of real estate cadastral valuation, as well as the cadastral valuation methodology - independent, laboratory works
2. Is able to apply the acquired theoretical knowledge in practical cadastral valuation of real estate, to perform work carefully and accurately and to work independently - independent, laboratory works
3. Is able to independently obtain, select and analyze information and data and use the acquired theoretical knowledge and practical skills in the process of real estate cadastral valuation - independent, laboratory works

Real Estate Market Valuation:
1. Manages the process of real estate market formation, the peculiarities of application of real estate valuation methods in determining the market value of various real estate - independent, laboratory works
2. Is able to apply knowledge in determining the market value of real estate for apartment property, land property, land and building property - independent, laboratory works
3. Is able to independently obtain, select and analyze the information necessary to determine the market value of real estate, and to compile a full valuation report. To be able to critically evaluate one's knowledge and skills, to be able to be responsible for the quality of one's work - independent, laboratory work

Course Content(Calendar)

Full-time studies:
Real Estate Cadastral Valuation:
Lectures:
Cadastral valuation of real estate (16 h)
1. Introductory lecture. Content and tasks of the study course (1h)
2. Base of cadastral values and general principles of its development (1h)
3. General principles of calculation of cadastral values (1h)
4. Base of cadastral values of rural land and the procedure for its development (1h)
5. Procedure for Calculating the Cadastral Value of Rural Land (2h)
6. The base of cadastral values of building land and the procedure for its development (1h)
7. Building land cadastral value calculation procedure (1h)
Test 1. General aspects of cadastral valuation. Cadastral valuation of rural land. Cadastral valuation of building land.
8. Base of cadastral values of buildings and the procedure for its development (1h)
9. Cadastral assessment of detached houses and groups of premises in them (1h)
10. Cadastral valuation of multifunctional buildings and groups of premises in them (1h)
11. Cadastral valuation of other non-residential buildings. (1h)
12. Formation of apartment property and calculation of its cadastral value (2h)
13. Base of cadastral values of engineering structures and the procedure for its development (1h)
14. Cadastral valuation of engineering structures. (1h)
Test 2. General aspects of cadastral valuation of buildings. Cadastral valuation of detached houses. Cadastral valuation of multifunctional buildings. Cadastral valuation of apartment property. Cadastral valuation of engineering structures.

Laboratory works:
Cadastral valuation of real estate (32 h)
1. Receipt of the task (object), its preparation for calculation of the cadastral value of rural land (4h)
2. Calculation of the cadastral value of rural land in rural areas (3h)
3. Calculation of cadastral value of rural land for determination of real estate tax (2h)
4. Calculation of special value (3h)
5. Receipt of the task (object), its preparation for calculation of the cadastral value of building land (2h)
6. Calculation of cadastral value of building land (2h)
7. Receipt of the task (object), its preparation for calculation of the cadastral value of detached houses (2h)
8. Calculation of the cadastral value of a detached house (2h)
9. Receipt of the task (object), its preparation for calculation of the cadastral value of the multifunctional building and the groups of premises in it (2h)
10. Calculation of the cadastral value of a multifunctional building and groups of premises in it (3h)
11. Receipt of an order (object), its preparation for calculation of the cadastral value of other non-residential buildings (1h)
12. Calculation of the cadastral value of an object of a group of other non-residential buildings (1h)
13. Calculation of the cadastral value of apartment property (3h)
14. Calculation of the cadastral value of an engineering structure (2h)

Real Estate Market Evaluation:
1. Content, course and requirements of the real estate market valuation study course part (1 h)
2. The essence of real estate market value. Norms regulating real estate market value (1 h)
3. Latvian property valuation standards. Code of ethics for valuers (1 h)
4. Description of the real estate market. Real estate market information. Real estate market databases, their creation (1 h)
5. Real estate documents for valuation purposes (1 h)
6. Property inspection in nature. Determining the best and most efficient way to use the property (1 h)
7. Evaluation methods, their application. Land valuation. Valuation of residential and non-residential buildings (1 h)
Laboratory 1 work - Land property valuation (6 h)
Laboratory work 2 - Land and building property valuation (6 h)
Laboratory work 3 - Appraisal of apartment property (6 h)
8. Analysis and conclusion of the values obtained as a result of the calculation. Content and presentation of the evaluation report (1 h)
Laboratory work 4 - Preparation of evaluation report (6 h)
Test on theoretical issues

Part-time studies:

All topics specified for full-time studies are implemented, but the number of contact hours is 1/2 of the specified number of hours

Requirements for awarding credit points

The exam consists of the “Real Estate Cadastral Valuation” part (60%) and the “Real Estate Market Valuation” part (40%).

In the Real Estate Cadastral Valuation part:
Students receive an assessment based on the results of tests and developed and credited laboratory work.
After two written tests in the classroom and credited laboratory works, the students receive a grade with a grade.

The valuation of the Real Estate Market Valuation part consists of:
Development and transfer of laboratory works.
Successfully written test on theoretical issues.

Description of the organization and tasks of students’ independent work

Real Estate Cadastral Valuation:
Research of special literature, real estate cadastral valuation, research of regulatory enactments.

Real Estate Market Evaluation:
Preparation of laboratory work descriptions.
Preparation for a test on theoretical issues by applying skills to orientate in the range of special literature sources.

Criteria for Evaluating Learning Outcomes

The exam consists of the “Real Estate Cadastral Valuation” part (60%) and the “Real Estate Market Valuation” part (40%).

Real Estate Cadastral Valuation:
The assessment of the exam depends on the cumulative assessment of the semester:
Test 1 - 25 points,
Test 2 - 25 points,
5 points make up 1 evaluation point.
Laboratory work must also be developed and credited;

Real Estate Market Evaluation:
1. The assessment of the examination is received after the examination of knowledge at the end of the written test study course and summarizing the results of laboratory work.
2. After the development of laboratory works and preparation of their descriptions, it is assessed whether students demonstrate knowledge and skills to independently perform Real Estate Valuation activities.

Compulsory reading

1. Kadastrs no viduslaiku nodevu saraksta līdz modernai informācijas sistēmai un daudzfunkcionālam kadastram. Valsts zemes dienests. , Rīga, 2013. , 311 lpp. no 203.-272.lpp.
2. Zemes reforma – atslēga uz īpašumu. (2013) Valsts zemes dienests. Rīga, 2013. 335 lpp. 130.-153.lpp.
Kadastrālās vērtēšanas sistēmas pilnveidošanas un kadastra datu aktualitātes nodrošināšanas koncepcija. , VZD. ,Rīga: 2012. , 60 lpp. Par kadastrālās vērtēšanas sistēmas pilnveidošanas un kadastra datu aktualitātes nodrošināšanas koncepciju: Ministru kabineta rīkojums Nr.462 [tiešsaiste]. Pieņemts: 03.10.2012. Stājas spēkā: 03.10.2012. [Skatīts 15.03.2021.]. Pieejams: https://likumi.lv/doc.php?id=251895
3. Boruks A. Dabas apstākļi un to ietekme uz agrovidi Latvijā. Rīga, 2004. 83. – 90.lpp., 98. – 107. lpp.
4. Kadastrālās vērtēšanas noteikumi: MK noteikumi Nr. 103 [tiešsaiste]. Pieņemts: 18.02.2020. Stājas spēkā: 21.02.2020. [Skatīts 15.03.2021.]. Pieejams: https://likumi.lv/ta/id/312662-kadastralas-vertesanas-noteikumi
5. Nekustamā īpašuma valsts kadastra likums: // LR likums [tiešsaiste]. Pieņemts: 01.12.2005. Stājas spēkā: 01.01.2006. [Skatīts 15.03.2021.]. Pieejams: https://likumi.lv/ta/id/124247-nekustama-ipasuma-valsts-kadastra-likums
6. Civillikums. III daļa. Lietu tiesības: LR likums [tiešsaiste]. Pieņemts: 28.01.1937.
Stājas spēkā: 01.09.1992. [Skatīts 15.03.2021.]. Pieejams: https://likumi.lv/ta/id/90221-civillikums-tresa-dala-lietu-tiesibas
7. Baumane V. Nekustamā īpašuma vērtēšana. Teorētiskie aspekti. Jelgava: LLU, 2010. 65 lpp.
8. Youngman J. Legal Issues in Property Valuation and Taxation Cases: cases and M.aterials. USA, Lincoln Institute of Land Policy. Lincoln Institute of Land Policy, 2006. 320 p.
9. Тарасевич Е. И. Методы оценки недвижимости. Санкт Петербург: Технобалт, 1995. 247 c.

Periodicals and other sources

1. Dienas Bizness: nedēļas laikraksts: Latvijas biznesa avīze. Rīga: Diena: Dagens Industri, 2005-. ISSN 1407-2041
2. Mans Īpašums: konsultācijas, skaidrojumi, padomi. palīgs zemkopim, privātuzņēmējam, īpašniekam. Rīga: Mans Īpašums. ISSN 1407-4761.

Notes

In professional higher education bachelor study program “Land Management and Surveying” full-time studies and part-time studies

Atsauksmes