ASSOVIB, the association of independent real estate appraisal companies, expresses its satisfaction with the launch of the Guidelines for the appraisal of properties to guarantee bad debts, which took place today in Rome.
The Guidelines represent the final step in the work of a working table on the subject conducted by the Italian Banking Association (ABI) and in which the main associations and professional bodies in the sector took part.
ASSOVIB has provided its qualified contribution, as has already happened since 2010 in the case of the Guidelines for real estate valuations that the ABI promoted and which were updated in December 2015.
“We believe that the work done in recent months demonstrates the crucial importance of real estate valuations in every phase of the credit life. At the time of disbursement, a correct estimate of the value of the real estate, carried out by an independent valuer, is essential in various respects, as it is one of the central elements for protecting the borrower and the banks from risks with a clear benefit for the stability of the entire financial system. In the case of NPLs, the accuracy of the assessment, also guaranteed by appropriate processes, also has important social implications", comments Silvia Cappelli, Vice President of ASSOVIB.
