Having obtained a prescriptive order from the Central Bank of Russian Federation to clarify the value of mortgage loan, which, according to the experts of the Central Bank, was determined as overestimated, the Commercial Bank contacted Valrus with a request for valuation services on the following projects:
1. Determination of the market value of the land plots located within the Yaroslavl region; category: agricultural land, permitted use: for horticulture. Because of the land survey there were 70 individual plots allocated, the total area of which was more than 10 hectares.
2. Determination of market and liquidation values of a large warehouse in the urban area of Moscow. The property had a total area of 52,520.4 square meters located at Moscow, Krasnaya Sosna Street, 2, block 1, building 1.
Based on the valuation of Valrus experts, the value of the mortgage loan properties was clarified and Valuation Reports containing full information on the studies were performed. The Valuation reports fully complied with the requirements of the Russian Legislation on Valuation Activities and Federal Valuation Standards including the requirements of the special standard FSO No. 9 "Valuation for the mortgage loan purpose."
Based on the results of the conclusions, the value of the pledge for these projects was accepted by the parties, both by the Customer and by the Central Bank specialists, without any criticism.