property appraisal

Our valuers in property appraisal have been trained at the Institut de l’Expertise, the ESSEC Business School of Paris and the ESI (Ecole Supérieure de l'Immobilier of the FNAIM) in Paris la Défense.

All our valuers comply in their property appraisal missions with the Property Valuation Appraisal Charter (5th edition - October 2017) and with the 2016 European Valuation Standards published by TEGoVA (the Blue Book, 8th edition).

Each valuation report is signed by our valuer in charge of the mission, subject to the approval of the Professional Third-Party Liability of COFARIS EVALUTATION.


Our property valuations are the result of field work and allow you to assess a complete report:

  • Study of the physical and technical factors
  • Study of the legal and tax factors
  • Study of the socio-economic factors
  • Valuation methods depending on the mission (direct comparison, capitalisation, DCF,…)
  • Analysis of the situation and property market
  • Analysis of the elements of added value and depreciated value
  • Analysis of the market references
  • Viewing of the property with photographs
  • Determination of the market or rental value of the property
  • Determination of the forced sale value (in case of auction sale)
  • Determination of the mortgage value (risk optimisation in the granting stage)
  • Determination of the LTV ratio (Loan To Value: essential ratio between the market value and the mortgage value)

Property appraisal is made under different circumstances: granting of loans, financing, amicably, disputed… always done objectively!



Property valuation: Residential housing properties

This is the area which concerns us the most. In fact, it represents residential property which we need to accommodate us.

What criteria are used by our valuer?

For apartments, we distinguish the areas (occupied areas including outbuildings) and communal areas (entrance hall, stairs, lift, letter boxes, roof, frontages, windows, collective heating, water column,…).

The quality of an apartment is assessed by its own specific qualities such as: commodities, the address, the environment, the exposure, the architectural quality of the building, its level of amenities, its peace and quiet, the services, its condition, its composition, its thermal insulation and soundproofing and the rationalisation of its surface area. Additional areas will be extensively assessed: cellar, attic, car park, balcony or terrace…

This property will also be placed in its local market in relation to current demand and available properties. We will also analyse the operating expenses of this property (heating, hot water, joint ownership fees).

For a house, it is most often freehold, more rarely in joint ownership, under horizontal designation or voluntary settlement.

For the housing elements, the qualities will be assessed as an apartment, with any outbuildings. For the land portion, a very specific analysis will be made for its accreditation quality (garden, plants, swimming pool,…) and its potential building capacity.

Lastly, a very specific study will be made on any easements which may exist on these properties having more or less an impact on the value of the appraised property.

Business appraisal

A business continually evolves. The relationship with its customers, suppliers, employees, regulatory constraints, the competition, financial commitments, choice of director, all change the consistency and value of the business. It is important to be able to measure the developments and to control the different levers of value creation.

The role of the valuer is to carry out a complete analysis of the different elements that are both legal (the different contracts), accounting (the balance sheet and the income statement), financial (the receivables and payables) and economic (the environment, the resources implemented) in order to determine, according to the mission entrusted, the value of the lease rights, that of business assets including goodwill.

The independence of the valuer, its perfect objectivity and its detailed argumentation will also be sought during arbitration or negotiation between two parties on divergent points of view and interests. The valuer may have a role of conciliation by providing neutrality to a delicate situation to be managed, and an advisory role for supporting the director in important phases of the company’s existence.


Property appraisal: Business property

Here it is a question of studying the different assets related to the company: 

- Office property, 

- The business premises and industrial premises, 

- Property specific to a specific economic activity (hotels, cinemas, clinics, logistics, old peoples’ homes or dependent housing,…). 

Unlike residential housing, the occupant is very often the tenant. Therefore, there are two property markets: that of the tenant and that of the owner. They may have convergent but also divergent objectives. 



In fact, French legislation on commercial leases provides relative flexibility to the sitting tenant and constitutes a permanent vacancy risk for the owner. 

Knowing the actual rental value of a property, allowing for rent negotiation, knowing the market value of its assets, for drawing up an appraisal on the one hand, borrowing, transferring, arbitrating, increasing its value on the other hand, are elements which require regular appraisal in property value.

Property appraisal: Exceptional properties

COFARIS EVALUATION offers a range of services related to exceptional properties. This also includes mansions, castles or even exceptional apartments.

It is therefore essential to contact our valuers who, thanks to their knowledge, will know how to provide you with the answer matching your need, and will apply the right methods and the best approach for determining the value of your property. 

Determining the mortgage value

The valuers of COFARIS EVALUATION are very specifically specialised in determining the mortgage value of an immovable property.

“The mortgage value corresponds to a valuation which must be assessed conservatively in order to sell the property over time. It relies on the notion of stabilised income over time”. Extract from the Property Valuation Appraisal Charter (4th edition / October 2012).

“The objective of the mortgage value of is to provide a long-term sustainable value, which assesses the adequacy of a property as collateral for a mortgage loan irrespective of any future fluctuations of the market and according to a more stable principle. It provides a figure, generally lower than the market value and, consequently, able to absorb the long-term fluctuations of the market, whilst reflecting with precision the long-term underlying trend on the market”. Extract from the report of the European Mortgage Federation on mortgage value, quoted by TEGoVA (European Valuation Standards 2012) and by the RICS (Royal Institution of Chartered Surveyors).

For more information about our "mortgage value" service click here

Determining the LTV in order to control bank risk

The COFARIS EVALUATION valuer will express in its findings a ratio between the mortgage value and the market value of the property, making it possible to assess the lender’s risk in its search for the LTV or Loan To Value (loan/value ratio).

For more information on the LTV ratio, go directly to the "Our other missions" page.

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