The importance of the Site plan and the delimitation of the property body in the evaluation process

Depending on the type of property, in the evaluation process, the mandatory documents necessary to draw up the evaluation report are:

- the document certifying the ownership of the valued asset;  

- extract from the Land Registry recently;  

- cadastral documentation endorsed by the ANCPI;

- other specific documents depending on the type of property assessed (permits, authorizations, etc.). 

Today we will focus on the cadastral documentation, respectively on the Plan of location and delimitation of the property body. Why? The idea of today's topic came after the discussion with one of our clients who considered that the lack of this document is not an "impediment" in the valuation process, nor in the trading process. But we will detail each aspect individually.  

The plan of location and delimitation of the body of property represents the sketch of a land, built or not, made on the basis of topographical measurements drawn up by an authorized engineer. It includes: the sketch of the land, the coordinates points, the area of the land, the address of the immovable property, the name and address of the owner. In other words, it helps us to identify exactly the property. In the process of evaluating any type of asset, the assessor must describe and analyze the land (free or under construction), a description that is also made with the help of the information tabulated in the Site Plan.  

The plan of location and delineation of the body of ownership is not the only tool for identifying the property, but it is most secure by the multitude of information that makes it up. Other variants that can replace this document are: Cadastral Plan extract, address from the City Hall in which to mention the exact address of the building, identification in specialized programs with the help of cadastral number or Stereo 70 coordinates, etc.

The importance of the site plan is also conditional on the purpose of the assessment. If for Sale or Taxation the identification can also be achieved with the help of the other instruments mentioned above, the situation changes completely when we talk about Bank Guarantee. We all know the rigor of the banking institutions, which pay increased attention to all the documents related to the building, including the site and delimitation plan. This is a mandatory document in the evaluation process and which conditions the continuation of the process in its absence.  

It is very rare for the banking institutions to give us their consent to continue the evaluation process without this document. Even in the case of buildings purchased after July 1, 1999 (the date on which the Law on Cadastre and Land Book entered into force) it is necessary to draw up / update the cadastral documentation.  

Therefore, if you are a seller or buyer, and you want the transaction to be successfully concluded and protected from any problems, make sure you have the complete documentation. And if you do not know the list of the necessary documents, you can confidently call one of our specialists or you can access our website where there is a section dedicated to the necessary documents by type of property.

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