Assessments, assessments, assessments...

in #assessments7 years ago

My boss already warned me not to write on Steemit some details about the work, but I work on an interesting job and some things really could be inspiration for a post... but I mustn't!

Now, few things about my work will not endanger our little agency. I will not say any important details but I have to write some general facts because, last few days, we've had few very interesting cases. My boss is basically a lawyer. He solves legal issues about real estates, composes contracts and talks to the clients. I am an engineer and I drive every day from one estate to an other, taking measures and making assessments.

We are very rarely hired by private individuals. The most of the cases come from the court. So, I'll tell you about one of those cases, but I'll miss the details.

I was sent to one of nearby islands to make an assessment of a house in which is a closed restaurant and five tourist apartments.

The bank has taken away the house from their owners because of the mortgage. Last owners needed some money to renew the house and the restaurant. When they started to work on the renewing, city conservators stopped the works because the walls of the house in the ground floor were built of the stone more than 150 years ago. So, they pushed the lawsuit against the owner because he drilled those walls to change the pipes. So, he lost the licence for the restaurant (which was held by his family for more than 100 years) and for renting tourist apartments.

So, he couldn't renew the house, he couldn't re-open the restaurants and apartments and he wasn't able to earn the money to return the loan to the bank. So, bank took the house away and it stands empty and almost ruined on the middle of really beautiful beach. What a waste!

The first assessment, which was made 5 years ago by previous partner of my boss, claims that the value of the house with the backyard is 1200000€.

Well, my assessments are a little bit more strict. I couldn't ignore old infrastructure, those pipes in the walls are made of led. On the ground floor there is a major problem with electricity. All intermediate structures are made of wood, also the stairs. Very old tiles on the floor, you can feel the smell of humidity. Kitchen and the hall of the restaurant without any furniture or equipment, definitely need renewing. Toilets (for the guests of the restaurants) are in really bad condition.

There are three tourist apartments on the first floor. Everything here seems to be in much better condition than on the ground floor. The ground floor presents the old part of the house, but the first and second floor were built in 1981. In that time, we had communist conservators who didn't care about destroying of the historical buildings. As I said, there are three apartments on the first floor and two on the second. All have balconies that look on the beach and, differently from the ground floor, toilets and bathrooms are in great conditions.

The whole house in supplied with water only from a water tank for the rainwater.

People on the island use this water for bathing and cleaning, but not for cooking and drinking. They bring large amounts of water from the mainland, also in tanks.


IMAGE SOURCE

When I count with all what I listed, I can't assess the house on more than 950000€. And the main culprits for that are county conservators. I mean, I love history and preserving historical buildings, but, thanks to them, this house will stay empty and without any proper function, but on the most attractive location with huge potential. That's too sad for me!

The bank will organize the auction on which the house will be offered at 50% of the price that I assessed (475000€). If nobody buys it, it goes for 300000. And I have 60 in my pocket ;)!

Thank you!

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It's sad when banks or government seize property. Often the structure will sit abandoned, then they begin to deteriorate quickly, thus destroying value. We have a house across the road from us that has been seized by the government. It was a nice place. Now it is overgrown and messy, and an easy target for vadals or other criminals.

Exactly! Like ghost houses...

Thanks for sharing
Have a nice weekend

Very sad. They say it takes money to make money!

That's true! money makes money, debts make debts

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