Residential Inspection

What Is Residential Inspection?

Residential inspection is the process of determining the current market value of apartments, detached houses, villas, residences, summer houses, and other types of housing by professional valuation experts. A residential inspection report is prepared by taking into account all characteristics of the property, environmental factors, and prevailing market conditions. These reports are used by banks and numerous other institutions and individuals.

The Residential Inspection Process

The residential inspection process begins with the valuation expert conducting an on-site examination of the property. During the inspection, the building quality, materials used, interior layout, common areas, and surrounding environmental features are evaluated. Subsequently, title deed records, zoning status, occupancy permits, and other legal documents are reviewed. In the final stage, comparable property analysis is performed to determine the current market value of the residence, and the report is prepared.

When Is Residential Inspection Required?

A residential inspection report may be required in a variety of situations: during mortgage loan applications for the bank to determine the collateral value, in property purchase and sale transactions to ascertain the true value, in inheritance distributions for fair value assessment, in insurance policies to establish the property value, and in divorce proceedings during asset division. Residential inspection reports are utilized across all of these processes.