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  • What does exactly appraisal company do?
    Appraisal company mainly estimates value of real estate, and at the same time it estimates value of corporate, intellectual property, machinery and equipment, right of light, various type of compensation and etc.
  • How the appraisal fee is determined?
    The appraisal fee can be differentiated based on the total estimated value of the subject. For the fee, all appraisal companies in Korea follow the same fee schedule which is determined in accordance with Standard for Remuneration of Appraisers (No.2009-768 by The Ministry of Land, Transport and Maritime Affairs) In other words, total appraisal fee is estimated based on the above official fee schedule, actual expenses and VAT.
  • How is the deposit estimated?
    Appraisal company can receive ½ of estimated appraisal fee based on the expected value of the subject, and it can receive extra deposit when extra traveling expense and special service fee are expected to be spent. If you have more inquiries, please contact the appraiser in charge.
  • Does client know the expected value of his or her property in advance?
    Pacific provides Desk top valuation for our client for nothing. For the desk top valuation, however, we only can provide rough value of a certain property as the type of valuation is being proceeded only based on old appraisal comparables, initial value appraised by the court and other database without site inspection. This means the value of the property can be changed after performing formal valuation work. Therefore please consider the value calculated based on desk top valuation as a reference.
  • How valuation performance is being processed?

    Process of valuation performance

    Detailed process of valuation performance

    1.Order and acceptance
    You can directly visit our company and fill out the valuation order form or you can order the valuation via telephone, fax or online.
    2. Confirmation of basic factors for valuation
    In this stage, we confirm valuation purpose, conditions and etc. and request public records regarding the subject to client and thoroughly review them.
    3. Establishment of valuation process plan
    The valuation case requested is allocated to an appraiser in charge and date for site inspection and valuation activity plan are being determined.
    4. Site inspection
    The appraiser verifies physical conditions of the subject and types of ownership and then research characteristics of the region the subject lies and price level of comparables in the neighborhood.
    5. Estimate of the subject’s value
    The appraiser estimates fair value of the subject based on the data gathered through site inspection and examination of internal data.
    6. Examination on the estimated value and approval
    Price examination committee reviews on whether the estimated price of the subject is appropriate.
    7. Determination of the final value of the subject and preparation of appraisal report
    The final fair value of the subject is being determined and appraisal report is being prepared accordingly based on proper valuation methods.
    8. Examination on the appraisal report
    The appraiser reviews accuracy of calculation, logic of the content of the report, rationality and etc.
    9. Delivery of the report
    The appraiser deliver the appraisal report to the client and keeps it.

  • Is there anything that client has to prepare while appraiser performs valuation?

    When lease is included in the subject property, client needs to prepare some information regarding the lease such as copy of lease contract. If the subject was traded in accordance with sale contract, client needs to prepare copy of sales contract, document that shows present registered condition of a certain property traded. For ‘the registered condition of the property traded’ issued by tax office, in particular, it can be browsed only when the owner of the property has seal impression certificate and power of attorney. Therefore it might be helpful when the client prepare it in advance.

  • I recognized that VAT was added to the final appraisal fee, then does Pacific issue a tax invoice?

    Yes. we do. We issue the tax invoice for business of property owner (debtor) or an individual and if you are an individual client, please kindly let us know your identification number and address and if client is a business, please fax us its business license. However, we issue the tax invoice only when the client let us know the fact that the client put the fee in one of the below banks within 15 days after putting the fee in.

  • Which bank should client put the appraisal fee in?

    When you put the appraisal fee in the bank, appraisal report number or owner (debtor) or person who ordered valuation should be presented. The name of receiver is “Pacific Appraisal Co., Ltd.”

    The bank accounts we use are as follow.
      Kookmin bank 924501-01-035270
      Nonghyup 087-01-083494
      Shinhan bank 100-006-929251
      City bank 159-01012-244
      Korea exchange bank 167-22-00507-8
      SC First bank 438-20-139508
      Hana bank 122-910003-62004