英文版房地产估价报告书

英文版房地产估价报告
书
The document was finally revised on 2021
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REAL ESTATE APPRAISAL REPORT
Name of Project: Appraisal report on the evaluation of the value of Real Estate of Room0302，Unit11,Building1,（Shangjie District）,Changzhi Road, Taiyuan City Entrusting Party: ————————
Appraising Institution: ———————— CO., LTD
Appraisers: ————————
Appraisal Working Date：————————
Appraisal Report No.: ————————
———————— CO., LTD（seal）
Contents
1.Letter to the entrusting party (3)
2.Statement by the appraisers (4)
3.Presumption and restrictive conditions (5)
4.Appraisal result report (6)
5.Appraisal technical report (11)
6.Appendix (19)
Letter to the Entrusting Party
Dear Ms. Yang Fang ,
We accepted your appointment to conduct the appraisal on your real estate that you have entrusted us. The appraised object is the real estate located at Room0302, Unit11,Building1,（Shangjie District）,Changzhi Road, Taiyuan City with the building area of square meters.
The appraisal date is July 08, 2010.
Purpose of Appraisal: Supplying the reference basis of real estate market price for the entrusting party’s knowledge
Appraisal Result: The appraisers have assessed the value of the above-mentioned real estate on the basis of independence, impersonality, equity, legitimacy and cautiousness, adhering to on-spot inspection of the real estate as well as comprehensive collection of related market information and appraised object information, in the light of general analysis the elements which will influence the market value of the real estate, comply with state regulations on real estate appraisal, real estate appraisal rules and given appraisal purpose as well as by utilizing logical appraisal processes and methods. The appraisal result of the appraised object on July 08, 2010 is as follows (currency: RMB):
Unit Price of the appraised object：RMB7623 Yuan/Square Meter
Total Price of the appraised object: RMB1,080, Yuan
Capitalization (the capital form of Chinese numerals): RMB one million nine eighty thousand and two hundred Yuan)
For detailed appraisal results, process and related explanation, please refer to the ‘Appraisal Result Report’and ‘Appraisal Technical Report’.
Taiyuan Wuyuetong Real Estate Appraisal Co., Ltd
July 13, 2010
Taiyuan Wuyuetong Real Estate Appraisal CO., LTD（seal）
Statement by the Appraisers
We hereby solemnly declare the following:
1.All of the information which has been shown in this report is authentic and accurate.
2.All of the analyses, comments and conclusions which have been shown in this report have
been presented, given and drawn through our impartial analysis and professional knowledge.
However, all of them have been restricted by the presumptions and restrictive conditions which have been explained in this report.
3.We have not had the interest conflict with the appraised object, nor have common interests
with or prejudice against the entrusting party.
4.According to Real Estate Appraisal Rules which is the State Standard of the People's Republic
of China, we presented analyses, given comments, drawn conclusions and compose the report eventually.
5.The on-site inspection of the appraised object has been done by our appraisers through which
they are responsible for the objectivity, authenticity and impartiality of the inspection results.
However, unless otherwise agreed, the scope of on-site inspection is restricted to appearance and use status of the appraised object. The appraisers do not shoulder the responsibility for investigating the structure and quality of the building as well as for examining other overlaid, unexposed and unreachable parts of the appraised object. The appraisers who take charge of on-site inspection are Duan Zhihong and Chai Hongbin.
6.Not any important and professional assistance has been offered to the appraisal report.
7.The appraisal is based on the relevant documents supplied by the entrusting party who shall be
held liable for the authenticity, completeness and consequences incurred. The appraisers shall be only held liable for the operation process and fairness of the appraisal method adopted.
8.The registered real estate appraisers who take charge of the appraisal:
Duan Zhihong
RegisterDate of expiration：September 2010 (seal)
Chai Hongbin
Registered Public Real Estate Appraiser of P. R. China (Registration No.: 31) Date of
expiration：September 2010(seal)
Presumption and Restrictive Conditions
1.The entrusting party obtained the appraised object legally and the appraised object is in sound
condition at the appraisal time and is used legally, safely and normally at its optimal status.
2.The real estate market at the appraisal time operates publicly, equally and voluntarily.
3. Any operation mode and procedure relating to the appraised object shall comply with the
relevant national and local laws and regulations.
4.The owner, the location, the category of property, the building area and the function of the
appraised object in this report shall be subject to what have been recorded in the House
Proprietorship Certificate provided by the entrusting party.
5.The appraisal result in this report is the market value of the real estate at the appraisal time of
5th, July, 2010 and meets all the presumption and restrictive conditions. The real estate price shall be reappraised in case the conditions and purpose set in this report vary.
6.The appraisal price in this report is objective and impartial market price, without considering
the influence on the appraisal result by other rights such as mortgage and leasing right, risk of the future change of the real estate market, short-term disciplinary measures and relevant taxation, etc.
7. The appraisal result shall remain effective within one year since the finalization of the report.
If during the period, there is major change in national macroeconomic policy, the real estate market or the physical status of the appraised object which has major effects on the appraisal result, we shall be appointed again to perform the appraisal.
8. The report shall only be used for the purpose of appraisal by the entrusting party, that is, to
supply referential basis for the entrusting party to determine the market value of the real
estate. The report shall not be used for other economic activities.
9.The report shall be used as a whole and we shall not be held liable for the relevant losses
resulted from the use of the part of the report.
Appraisal Result Report
Bing Wu Yue Tong Gu Zi [2010] No. 0706
The Entrusting Party:
Name: ————————
Home Address: ————————
The Entrusted Appraising Party:
Company name：————————Co., Ltd
Class: ————————
Legal representative: ————————
Address: ————————
Telephone: (————————
———————— CO., LTD（seal）
Appraised Object
◆The appraised object: the appraised object is located at———————— .The building
have 7 floots and was built in 2004 . Building with steel reinforced concrete structure , the outside wall was tile fixing . The doors of Unites are intelligent security doors , the ground inside the building is waterstone , iron railings and wooden arms , inside wall is emulsion paint, The appraised object located at Room02 , Unit11 ,third floor of the building . It is a residence .
Decoration status of the appraised object: High-grade decoration , the floor of the room is covered by import granite , the wall is painted by latex, and the flooring angular line is
made of clad plate as well as the suspended ceiling is decorated by fluorescent lamp.
Parlour is very artistic , the wall is black marble , integral ambry . The outer window of the room is decorated by top-grade insulating glass with aluminum alloy, stainless steel guard bar and marble windowsill. What’s more, the door of the room consists of security door and wooden door , and the flooring angular line is made of ceramic tile, the suspended ceiling is decorated by fluorescent lamp as well. marble wash stand , sanitary fittings are complete ;
there are water, electricity, central heating, gas, television, internet in the house .
◆Status of Proprietorship: Fang Quan Zheng Bing Zi “House Proprietary Certificate”
which has been provided by the entrusting party shows: Owner: Sun Zhiyu Yang Fang ;
Location: ————————d ; Category of Property: Private; Building No.: 1; Room ;
Structure: Steel reinforced concrete; Total Building Floors: 7; Floor No. of the Appraised Object: 3; Building Area： square meters; Use of Design: Residence .
Purpose of Appraisal: Supplying the reference basis of real estate market price for the
entrusting party’s knowledge.
The appraisal date: July 08, 2010.
Definition of Price: The appraisal adopts the market price standard of the real estate, that is, the appraisal is complying with the market price on July 08, 2010 which is the appraisal date.
Appraisal Basis:
1.“Administration Rule of Urban Real Estate of P. R. China”
2.“Administration Rule of Land Use of P. R. China”
3.National Standard “Regulations for Real Estate Appraisal” of P. R. China
4.“Property Law of P. R. China”
5.“House Proprietorship Certificate”
6.The relevant documents supplied by the entrusting party
rmation of the on-site inspection of the appraised object by the appraisers
8.Relevant documents concerning the real estate market mastered and collected by the
appraising party
Appraisal Principles:
1.Principle of legality
The real estate appraisal shall be conducted on the basis of the legal proprietorship of the real estate, which contains the legal obtainment, legal use, legal transaction or disposition, etc.
2.Principle of Maximal and Optimal Use
The appraisal of the real estate shall be based on the maximal and optimal use.
The maximal and optimal use means enabling the appraised object to generate the maximal value legally allowed, technically possible, economically feasible and after reasonable
argument.
3.Principle of Replacement
The appraisal result shall not deviate from the normal price of similar property under
similar conditions obviously. Similar property refers to real estate in comparable search area and equal or similar to the appraised object concerning the function, scope, grade and
building structure. Comparable search area means the regional range where the real estate
may replace the appraised object or affect the price of the appraised object.
4.Principle of Appraisal Time
This principle emphasizes that the appraisal result is time dependent and time effective. As the real estate market is ever-changing, the same real estate always has different prices at
different appraisal time. The appraisal result is the objective and reasonable price or value of the appraised object at the appraisal time.
5.Principle of Objectiveness and Fairness
The appraisal is based on sufficient investigation, comprehension and analysis of the actual conditions of the appraised object, strictly obeys the relevant laws and decrees of the state, Shanxi Province and Taiyuan Municipality, considers the interests of correlative parties fully, follows scientific appraisal procedures, adopts reasonable and suitable appraisal methods and through careful and accurate calculation.
6.Principle of Prudence
We shall not overestimate benefits and costs, and shall not choose cases with higher deal price; we shall not underestimate cost rate and choose lower relative parameters either.
Prudence is necessary before making professional judgment under uncertain situations.
Anyway, in the process of the appraisal, we shall obey the relevant national and local laws and decrees, adheres to such principles as objectiveness, fairness, science and legitimacy so as to ensure rational appraisal procedure, scientific appraisal method, accurate appraisal result and the secret of the appraisal.
Appraisal Method:
According to the appraisal purpose, the development degree of Taiyuan Real Estate market and the appraisal maneuverability, on the basis of analyze the relevant data and
investigate appraised object on-site. In view of the real estate of the same kind has a high frequency of leasing, as a result of this, the appraisers calculate the price of the appraised object by market comparison method. Consequently, according to the characteristics of the appraised object and the actual situation, as well as comply with the doctrine of real estate appraisal method, the method has been adopted to determine the market value of the
appraised object.
The method is to anticipate the normal net profit of the appraised object in the future and choose suitable capitalization rate to discount such profit to the appraisal time for
accumulation, in order to estimate the objective and reasonable price or value of the
appraised object .
Appraisal Result
The appraisers have assessed the value of the above-mentioned real estate on the basis of independence, impersonality, equity, legitimacy and cautiousness, adhering to on-spot
inspection of the real estate as well as comprehensive collection of related market
information and appraisal object information, in the light of general analysis the elements which will influence the market value of the real estate, comply with state regulations on real estate appraisal, real estate appraisal rules and given appraisal purpose as well as by utilizing logical appraisal processes and methods. The appraisal result of the appraised object on July 08, 2010 is as follows (currency: RMB):
Unit Price of the appraised object：RMB7623 Yuan/Square Meter
Total Price of the appraised object: RMB1,080, Yuan
Capitalization (the capital form of Chinese numerals): RMB one million nine eighty thousand and two hundred Yuan)
Appraisers:
Duan Zhihong
RegisterDate of expiration：September 2010 (seal)
Chai Hongbin
Registered Public Real Estate Appraiser of P. R. China (Registration No.: 31) Date of
expiration：September 2010(seal)
Appraisal Working Date:
From July 08, 2010 to July 13, 2010
Validity Term of the Appraisal Report
The appraisal result shall be valid within one year from the finalization of the report.
Application Range of the Appraisal Report
The report supplies the basis for the reference price for the entrusting party’s knowledge of the market price of the real estate. It is ineffective for other economic activities.
Taiyuan Wuyuetong Real Estate Appraisal CO., LTD（seal）
Appraisal Technical Report
Clause 1 General Situation of the Appraised Real Estate
1.Individual Elements Analysis
(1)Status of Proprietorship
Fang Quan Zheng Bing Zi “House Proprietary Certificate” which has been provided by the entrusting party shows: Owner: Sun Zhiyu Yang Fang ; Location: ————————; Category of Property: Private; Building No.: 1; Room ; Structure: Steel reinforced concrete; Total Building Floors: 7; Floor No. of the Appraised Object: 3; Building
Area： square meters; Use of Design: Residence
(2)Substance Entity Condition
(3)The appraised object: the appraised object is located at ————————.The
building have 7 floots and was built in 2004 . Building with steel reinforced concrete structure , the outside wall was tile fixing . The doors of Unites are intelligent security doors , the ground inside the building is waterstone , iron railings and wooden arms , inside wall is emulsion paint, The appraised object located at Room02 , Unit11 ,third floor of the building . It is a residence .
Decoration status of the appraised object: High-grade decoration , the floor of the
room is covered by import granite , the wall is painted by latex, and the flooring angular line is made of clad plate as well as the suspended ceiling is decorated by fluorescent lamp. Parlour is very artistic , the wall is black marble , integral ambry . The outer
window of the room is decorated by top-grade insulating glass with aluminum alloy,
stainless steel guard bar and marble windowsill. What’s more, the door of the room
consists of security door and wooden door , and the flooring angular line is made of
ceramic tile, the suspended ceiling is decorated by fluorescent lamp as well. marble
wash stand , sanitary fittings are complete ; there are water, electricity, central heating, gas, television, internet in the house .
2.Regional Effects Analysis
(1)District General Condition
Xiaodian District is located at the southeast part of Taiyuan, and is the north of the
Jinzhong Basin . Qingxu Town is at its sourth , Nanneihuan District and Yingze District are at north , Yuci City is at east , Fen River is at west .The transportation of this district is well concentrated communication network radiates in all directions to let the residents enjoy convenient transportation.
The economic strength of Xiaodian District is abundant. It owns many existing business enterprises, including commerce, diet, service and transportation, etc. Since it was
established, the District Committee and Government vigorously implement the strategy of prosperity in virtue of business development by investing .
(2)Location and Transportation Condition
Many bus routes have been distributed at surroundings, for instance, bus 39, 824, 838, 840, 849, 864, and 877. The location of the appraised object is in Level I-B commercial land range which enjoys geographical advantage and convenient transportation.
(3)Surroundings and Peripheral Facilities
Situated at the area where is equipped with a complete set of supporting facilities and advanced business service facilities, hospital, bank, school, hotel, supermarket and bus
station, etc can all be found easily. Numbers of commercial mansions, such as, Huachen Mansion , Shanmei International Mansion , Changfeng Shopping Mall , Orient Home , Wholesale Market of Tee , Sangyou Electrical Equipment , Suning Electrical Equipment , Qiannian Chamber , Qinxian Hotel , Tianshuihua Hotel , Jinshengyuan Hotel and Furong Town Restaurant . In addition, many financial institutions, including China Citic Bank, China Merchants Bank, China Ever bright Bank, Huaxia Bank and Industrial and
Commercial Bank are also scattered around here. The educational facilities and medical treatment facilities in this area are all in readiness, the former incorporates Yujie
Kindergarten, Lele Art Kindergarten, Affiliated School of Taiyuan Normal College ,
Taiyuan Middle School , Taiyuan Middle School and Wenhua Middle School, the latter consists of Shanxi Meitan Central Hospital and Kangming Ophthalmologic Hospital and Changcheng Dental Specialist . The area endures sheer pedestrian volume, and enjoys business prosperity as well as graceful environment.
(4)Infrastructural Facilities Condition
The area has connected to the seven mains outside the red line, which is as follows:
①Connect to water supplying line: The water is supplied by Taiyuan Running-Water
Company which is highly reliable.
②Connect to sewer pipe: The area possesses underground drainage network to separate
rain from sewage.
③Connect to electrical line: The electricity is supplied by Taiyuan Power Supply
Bureau which is highly reliable.
④Connect to communication cable: The communication cable has been spread out in
the area which is highly reliable.
⑤Connect to gas line: The gas pipe network has been connected into this area which is
highly reliable.
⑥Connect to flue gas duct: The area enjoys central heating supply which is highly
reliable.
⑦Access to roads: The appraised object adjacent to Fuxi Street in the south.
3.Market Background Analysis
Taiyuan municipality is the capital of Shanxi province which serves as the political,
cultural, educational, scientific and technological, communication and information centers in Shanxi province. It is one of the twenty-two megalopolis in China. Taiyuan is situated at the combing site of the eastern, central and western economic belts which connects the west with the east, the north with the south of China and plays a two-way supporting role under the strategy of opening the country to the outside world and in economic
development layout. According to the general requirement of ‘Moving southward,
marching into the east’,‘Northward enlargement, eastward expansion’,‘prompt quality’and ‘reinvent image’as well as the construction guidance ‘Rebuild old city, construct new town, exploit ancient city ’and take action simultaneously. Taiyuan erected the image of ‘Brand-new Taiyuan’, all-sided speeded up the steps towards the construction of the city and
enhanced the radiometric force, influence power and leading power as a city of provincial capital gradually. In recent years, remarkable results were achieved in term of
transportation, communication, municipal administration and ecological environment.
Due to a quintuple-level transportation network consisting of air routes, railways and highways have been completed, Taiyuan takes on a new look with each passing day. A good socioeconomic foundation can be laid for the further development of the Real Estate Market in Taiyuan with the continuous improvement in supporting facilities and
infrastructure.
In recent years, Taiyuan office building real estate market has experienced a process from emergence to instant development. At present, Taiyuan office building real estate market has presented the trend of stable development marked by increased volume of transaction and slowly increased price. We hold the opinion that Taiyuan office building real estate market will keep the trend of stable development continuously for quite a long time. In other words, the market prospect for the appraised object is optimistic.
4.The Analysis of Maximal and Optimal Use
Real estate estimate should be based on the best use of the appraised object, the analysis of maximal and optimal use really embody the objectivity of estimate, whether measuring, judging the appraised object is at best use or not should be judged from the following aspects:
①Law permitting, not limited by the condition of current use, but based on law, the
direction of the plan development, and estimated by the possible best use.
②In technology, that is, estimate according to the technical requirement in house
construction engineering.
③In economy, estimated price should use the result of getting the best profits from
limited put-in at all kinds of methods
④Land and building, that is, judge its best condition or not based on the combination of
real estate internal composing factors.
⑤Coordination between real estate and environmental surroundings, that is, if real
estate and environmental surroundings are coordinated or balanced.
⑥Sustainability, that is, the appraisers should study not only the past and the current
price, but also the current real estate market situation, the development trend and the
effects of varied political and economic situation as well as policy shift in order to
predict the future price trend and the change tendency of profit.
According to these aspects mentioned above, the current use of the appraised real estate is at the best status.
Clause II Analysis and Calculation of the Appraisal Price
1.Choice of the Appraisal Method
According to the appraisal purpose, the development degree of Taiyuan Real Estate market and the appraisal maneuverability, on the basis of analyze the relevant data and investigate appraised object on-site. In view of the real estate of the same kind has a high frequency of leasing, as a result of this, the appraisers calculate the price of the appraised object by market comparison method. Consequently, according to the characteristics of the appraised object and the actual situation, as well as comply with the doctrine of real estate appraisal method, the method has been adopted to determine the market value of the appraised object.
The method is to anticipate the normal net profit of the appraised object in the future and choose suitable capitalization rate to discount such profit to the appraisal time for
accumulation, in order to estimate the objective and reasonable price or value of the
appraised object.
2.Process of the Appraisal Price Calculation
Formula for the market comparison method:
1.Calculation Formula :
Market Price of the Appraised Object=Price of Comparative Object×Transaction Rectification×Rectification of Trade Date×Rectification of Regional Factor×
Rectification of Individual Factor
2.Choose the Trade Case :
A : Wenhuayuan Housing District , which is located at Changfeng Street , Building
with Steel reinforced concrete structure , 7 floors and was built in 1998 . the house is
in the third floor , 110 square meter , common decoration , water , electricity , gas ,
television , the transaction price in June 2010 is RMB7, Yuan .
B : Xinyuan Housing District , which is located at North Street of Wucheng , 6 floors
and was built in 2000 . Building with reinforced concrete brick structure , the house
is in the second floor , 101 square meter , high-grade decoration , water , electricity ,
gas , television , the transaction price in May 2010 is RMB6, Yuan .
C : Shangjie Housing District , which is located at Changzhi Road , 7 floors and was
built in 2004 . Building with Steel reinforced concrete structure , the house is in the
fifth floor , 112 square meter , common decoration , water , electricity , gas ,
television , the transaction price in June 2010 is RMB7, Yuan .
the appraised object is :
(7517+7881+7471)/3=7623 Yuan square meter
5.
Total Price of the appraised object=7623×=
The result for the whole : 1,080, Yuan , Unit Price is 7623 Yuan square meter
Clause III Determination of the Appraisal Result
According to the purpose of appraisal, the appraisers have assessed the value of the appraised object which is located at No. C, F/20, Unit A, Building 1 (WANGFU
Commerce Building), No. 9, Fuxi Street, Taiyuan, on the basis of independence,
impersonality, equity, legitimacy and cautiousness, adhering to on-spot inspection of
the real estate as well as comprehensive collection of related market information and
appraisal object information, in the light of general analysis the elements which will
influence the market value of the real estate, comply with state regulations on real
estate appraisal, real estate appraisal rules and given appraisal purpose as well as by
utilizing logical appraisal processes and methods. The appraisal result of the
appraised object on July 08, 2010 is as follows (currency: RMB):
Unit Price of the appraised object：RMB7623 Yuan/Square Meter
Total Price of the appraised object: RMB1,080, Yuan
Capitalization (the capital form of Chinese numerals): RMB one million nine eighty thousand and two hundred Yuan)
————————CO., LTD（seal）
Clause IV Relevant Notes
1. The report is based on documents supplied by the entrusting party, who shall be held
liable for the authenticity, integrality and consequences resulted from the documents
supplied. The appraisers shall be only held liable for the operation procedure, and
the fairness of the method adopted in this report.
2. Without the consent in writing by the appraising institution and appraisers, the report
shall not be used by other Unit or individual than the entrusting party, report user
and report audit organ. All or part of the report shall not be released in the public
media.
3. Should the errors in the contents and figures owing to the typing or other reason be
found, please inform us to make the amendment. Otherwise, the part with such
errors shall be null and void.
4. The formal report other than duplicated or photocopied one shall be legally valid.
———————— Co., Ltd
July 13, 2010
Appendix
1. Photocopy of Identity Card of the Entrusting Party
Photocopy of the House Proprietorship Certificate
2. Photograph of the Appraised Object
3. Photocopy of Business License and the Qualification Certificate of the Appraising
Institution
4. Photocopy of Registration Certificate of the Appraisers。