Depending on the type of property, in the evaluation process, the mandatory documents required to prepare the evaluation report are:
– the document certifying the ownership of the assessed asset;
– recent Land Registry extract;
– cadastral documentation referred to ANCPI;
– other specific documents depending on the type of property being evaluated (approvals, authorizations, etc.).
Today we will focus on the cadastral documentation, namely the Site and Delimitation Plan of the property body. Why? The idea for today's topic came from a discussion with one of our clients who considered that the lack of this document is not an "impediment" in the evaluation process or in the transaction process. But we will detail each aspect separately.
The site plan and delimitation of the property body represents the sketch of a land, built or not, made on the basis of topographic measurements prepared by an authorized engineer. It includes: the sketch of the land, the coordinate points, the land area, the address of the real estate, the name and address of the owner. In other words, it helps us to identify the property exactly. In the process of evaluating any type of property, the evaluator must describe and analyze the land (free or under construction), a description that is also carried out with the help of the information listed in the Site Plan.
The location and delimitation plan of the property is not the only tool for identifying the property, but it is the most secure due to the multitude of information that makes it up. Other options that can replace this document are: Cadastral Plan Extract, address from the City Hall in which the exact address of the property is mentioned, identification in specialized programs using the cadastral number or Stereo 70 coordinates, etc.
The importance of the site plan is also conditioned by the purpose of the evaluation. If for Sale or Taxation the identification can be achieved with the help of the other tools mentioned above, the situation changes completely when we talk about Bank Guarantee. We all know the rigor of banking institutions, they pay increased attention to all documents related to the property including the site plan and delimitation. This is a mandatory document in the evaluation process and which conditions the continuation of the process in its absence.
There are very rare situations in which banking institutions have given us permission to continue the evaluation process without this document. Even in the case of properties purchased after July 1, 1999 (the date on which the Cadastre and Land Registry Law came into force), it is necessary to prepare/update the cadastral documentation.
Therefore, if you are a seller or buyer, and you want your transaction to be completed successfully and free from any problems, make sure you have complete documentation. And if you do not know the list of necessary documents, you can confidently contact one of our specialists or access our website where you can find a section dedicated to the necessary documents by type of property.
