Property Valuation/Appraisal, in a nutshell, is a method for valuing or estimating the price of a property from past prices to the latest when sold or purchased by clients. This profession handles various matters related to property ranging from land prices to buildings such as houses, apartments, buildings, and so on.
Quoted by the Indonesian Professional Appraisal Society (MAPPI), the practice of property valuation/appraisal has become known in Indonesia since the 1970s. This is in line with the development of the business climate in Indonesia so that the need for property appraisal services from time to time continues to grow.
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The job as a property appraiser also has a considerable responsibility, this is because the results of the appraisal from a property appraiser will be considered by the client later. In considering prices, an appraiser will look at various factors, such as price movements to date, ease of traffic, and also environmental factors.
A property appraiser generally joins the Public Appraisal Service Office (KJPP) or a property company. This property appraisal profession is under the auspices of the official MAPPI organization.
Legal Basis
Property appraisers fall within the scope of the Ministry of Finance, the legal basis for this refers to the Minister of Finance Regulation Number 228 / PMK.01 / 2019 the Year 2019 concerning the Second Amendment to the Minister of Finance Regulation No.101 / PMK.01 / 2014/2014 concerning Public Appraisers.
From these ministerial regulations, the license to become a public appraiser is also stipulated by a ministerial decree and is classified into the following services sector:
- simple property appraisal;
- property appraisal;
- business appraisal; or
- personal property valuation.
The property appraisal profession also works according to a regulated code of ethics and certification is often held by MAPPI.
Roles and Responsibilities of Property Appraisers
Various agencies, both private and government, need property valuation because it will increase accountability and create administrative order to encourage better and modern asset management.
Hopefully, this short article can help you to understand what Property Appraisal is.
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