Real estate valuations and appraisals in Greece - Purpose

The valuations of commercial of other values of real estate are necessary for a number of reasons. The principal one is to define a reasonable price for the rent, purchase or sale of a piece of property.

In addition, valuations of real estate are usually a determining factor in the investment value of the property. Also, loan agreements usually require that the creditor is protected by a piece of property owned by the debtor. So, defining the value of the real estate is a sine qua non for all financial institutions.

Also, for those companies which have real estate properties and assets, it is understood that the net financial position of the company is directly related to the value of their assets, whether these are used by the company or rented to or from a third party.

Finally, the money owed by governments or by any co-owner or even a creditor who was nor secured against an owner, frequently are used in arbitration cases which require valuation by an expert valuer.