+ Bt ng sn: - iu 181 ca B lut Dn s VN 1995: bt ng sn l cc ts ko di di dc, bao gm: t ai; nh , cng trnh xy dng gn lin vi t ai, k c cc ts gn lin vi nh , cng

trnh xy dng ; Cc ti sn khc gn lin vi t ai; Cc ts khc do pl quy nh. - IVSC: (real estate) thut ng ch t ai t nhin v nhng g do con ngi to ra gn lin vi t. l nhng vt hu hnh, c hnh th vt cht, c th nhn hay s nn thy, nm trn b mt, trong khng trung hoc di long t. + c im ca BS: - C nh v v tr - Tnh bn vng - Tnh khc bit - Tnh khan him - C gi tr ln - Tnh nh hng ln nhau + Th trng BS: th trng bs l loi th trng bao gm cc giao dch v bs dc thc hin thng qua quan h hng ha tin t. + c im ca th trng BS: 1- C s cch bit gia hng ha v a im giao dch. 2- Th trng BS l th trng mang tnh khu vc 3- Th trng bt ng sn l mt dng in hnh ca th trng ko hon ho 4- Cung v BS chm co gin khi gi c thay i 5- Hot ng ca th trng BS ph thuc vo s kim sot ca nh nc + Vai tr ca th trng BS: 1- Ging nh cc loi th trng khc, th trng bs l cu ni gia sn xut v tiu dung 2- Th trng BS l ni thc hin ti sn xut cc yu t sn xut cho cc ch th kinh doanh BS. 3- Th trng BS gp phn thc y qu trnh i mi v hot ng t ai, nh , cc cng trnh xy dng c bit l cc cng trnh cng cng v cc c s kinh t khc. 4- Vn hnh th trng BS gp phn thc y ng dng v ci tin khoa hc cng ngh, nng cao cht lng nh , bo v mi trng. 5- Gp phn tng cng quan h hp tc, nng cao trnh x hi ha trong sn xut kinh doanh, to c s pht trin kt 1 cch bn vng + 3 yu t c bn nh hng vic la chn phng php nh gi BS: 1- Thuc tnh ca BS: chu tc ng bi cc yu t no. 2- tin cy v kh nng s dng ca cc ti liu th trng. 3- Mc tiu v nguyn tc ca vic nh gi. + 4 phng php ch yu nh gi BS: phng php so snh, phng php u t, phng php chi ph, phng php thng d.

t v gi tr ca BS. V vy, n c c s vng chc khch hng v c quan php l cng nhn. > l c s hay cn hi l u vo ca cc phng php khc, nh: phng php chi ph v phng php thng d. Phng php ny tr nn c u th khi c s tr gip ca my tnh. Thng thng, ngi ta s dng pp so snh trc tip kt hp vi cc pp khc nh gi BS. - Hn ch: > phi c giao dch v cc BS tng t trong cng khu vc th mi c th s dng so snh dc. Nu c t BS so snh p ng dc cc yu cu trn th kt qu s c chnh xc km. > cc thng tin chng c thng mang tnh cht lch s. y l iu ko th trnh khi. Nu th trng bin ng, cc thng tin nhanh chng tr nn lc hu trong 1 tg ngn. khi tnh chnh xc s thp. > PP ny i hi TV phi c nhiu kinh nghim v kin thc th trng mi c th tin hnh nh gi mt cch thch hp. - iu kin p dng: > cht lng thng tin phi ph hp, y , ng tin cy v kim tra dc. > th trng phi n nh: trn thc t n l pp chung nh gi cc BS dng cho mc ch mua bn, th chp v thng dung trong cc trng hp: cc bt ng sn c tnh ng nht (nh: cc cn h, cc chung c, cc dy nh dc xy dng cng 1 kiu, ); Cc mnh t trng.

+ Phng php u t: (nguyn tc d bo li ch tng lai)

- Gi tr hin ti ca thu nhp tng lai v cng l gi tr ca BS (V0): V0= Ft: thu nhp tng lai m BS em li cho nh u t nm th t. i: t sut hin ti ha (t sut chit khu) n: thi gian nhn dc thu nhp (tnh theo nm) *i vi BS s hu vnh vin cho thu nhp n nh hng nm: V = I/R hoc V = I x YP I: thu nhp dc to ra hng nm R: T l chit khu trung bnh. YP: gi tr hin ti ca 1 ng tin pht sinh vnh vin (YP = 1/R). *i vi BS cho thu nhp hng nm tng u n: V0 = I1/(i-k) = I0(1 + k)/(i-k) I0: l thu nhp nm hin hnh. k: t l tng thu nhp hng nm. + Trnh t: > bc 1: c tnh thu nhp trung bnh hng nm m BS mang li, c tnh n tt c cc yu t lin quan tc ng n thu nhp. > bc 2: c tnh tt c cc khon chi ph tr khi thu nhp hng nm nh: chi ph qun l, chi ph sa cha, tin thu phi np, > bc 3: Xc nh t l li thch hp dng tnh ton, cng vic ny c th da vo vic phn tch t l li ca cc BS tng t > bc 4: Dng cng thc vn ha tm ra gi tr hin ti ca BS mc tiu. + u im: - xt v mt l thuyt, y l PP c c s l lun cht ch nht, v n tip cn 1 cch trc tip nhng li ch m BS mang li cho nh t. - ngoi tr k thut chit khu dng tin, ni chung n l phng php n gin. - c th t c chnh xc cao khi c chng c v cc thng v c th so snh dc, khi cc khon thu nhp c th d bo trc vi 1 tin cy cao. + Nhc im: - khi phn tch cc thng v tng t, cn phi iu chnh nhiu mt: tui th, cht lng, thi hn cho thu, nhng thay i v tin cho thu trong tng lai, - trong nhiu trng hp c th thiu c s d bo cc khon thu nhp tng lai. - kt qu nh gi c nhy ln trc mi s thay i ca cc tham s tnh ton. Trong nhng trng hp nh vy, kt qu s chu nh hng nhiu ca yu t ch quan. + iu kin p dng: - ph hp khi nh gi BS c kh nng mang li cc khon thu nhp n nh v c th d bo trc 1 cch hp l. - vi BS c thu nhp ko u th c th s dng 1 dng tng t l DCF. - thng p dng t vn cho cc quyt nh la chn phng n u t.

+ Phng php so snh trc tip: (nguyn tc thay th)

- Trnh t: > bc 1: tm kim thng tin v nhng bs dc giao dch trong tg gn nht c th so snh dc vi bs mc tiu v cc mt cc yu t ch yu nh hng n gi tr (7 yu t: Tnh trng vt cht ca BS; c im v mt bng; c im ca cc cng trnh xy dng c lin quan; c im v v tr hay a im; Tnh trng php l; Thi gian giao dch; Cc iu khon v iu kin ca giao dch > bc 2: Tin hnh kim tra v phn tch cc giao dch chng c nhm m bo tnh cht c th so snh dc vi BS mc tiu. (cn nm r: Ngun gc cc giao dch th trng; nh gi c im v tnh cht ca cc giao dch th trng. > bc 3: La chn mt s BS c th so snh thch hp nht. (thng ly t 3 n 6 BS so snh) > bc 4: Xc nh nhng yu t khc nhau gia BS mc tiu v BS chng c. ng thi da trn cc yu t khc nhau, tin hnh iu chnh gi ca cc BS. (cn lu 3 vn : cc iu chnh ko nn lm qu chi tit hay vn vt; mi 1 s iu chnh nn dc chng minh t cc bng chng th trng; lun t cu hi: nhng s khc nhau no l l do ch yu dn n s khc nhau v gi tr ca 2 BS) > bc 5: c tnh gi tr BS mc tiu trn c s gi ca cc BS iu chnh. - u im: y l phng php dc use nhiu nht > l phng php nh gi t gp kh khn v mt k thut v: khng c cng thc hay m hnh c nh, m ch da vo s hin din ca cc giao dch th trng cung cp cc du hiu v gi tr. > l phng php th hin s nh gi ca th trng l cc bng chng r rang dc tha nhn trn thc

+ Phng php chi ph: (nguyn tc thay th) + Cc bc: > bc 1: c tnh ring gi tr ca mnh t thuc BS, bng cch coi n l t trng v ang dc s dng trong dk TN&HQN. > bc 2: c tnh nhng chi ph xy dng mi hin hnh i vi nhng cng trnh hin c trn t. > bc 3: c tnh mc gim gi ca cng trnh, xt trn mi nguyn nhn. > bc 4: c tnh gi tr ca cng trnh xy dng bng cch tr s tin gim gi khi chi ph xy dng mi hin hnh ca cng trnh. > bc 5: c tnh gi tr ca BS mc tiu bng cch cng gi tr c tnh ca mnh t vi gi tr c tnh ca cng trnh. + cc phng php c tnh chi ph: - PP thng k chi tit nh xy dng: Pp ny ni chung dc dung c tnh chi ph ca cng trnh xy dng c quy m ln, cng vic hon thnh ph hp vi cc k hoch v chi tit k thut xy dng y l pp c tnh chi ph cho kt qu kh chnh xc. Tuy nhin, p dng n s tn nhiu thi gian v cng sc. hn na, tin hnh pp ny, cn phi c cc chuyn gia c kinh nghim, nhng trong thc t, nh nh gi thng ko dc o to chuyn su v k thut hoc ko trnh tin hnh phn tch chi ph mt cch chi tit v t m. - PP so snh th trng: Trong thc t c t cc cng trnh ging nhau hon ton v kin trc v cht lng xy dng so snh. Do vy, mun kt qu c tnh c tin cy chp nhn dc, cn phi tnh chi ph cho mi n v kt cu xy dng tiu chun. Chi ph tiu chun ny s dc dung lm c s iu chnh chi ph i vi cng trnh mc tiu. Trn thc t, y l pp cho kt qu nhanh v dc dung kim tra i vi cc pp khc. + cc loi gim gi th trng: S gim gi ca 1 BS c th, l hin tng mt mt gi tr v bt c l do no, dn n s khc nhau gia gi th trng v chi ph thay th mi i vi BS ti thi im thm nh. 3 loi gim gi: 1- Gim gi t nhin; 2- Gim gi do li thi chc nng; 3- Gim gi do li thi bn ngoi; + Tui th kinh t ca cng trnh: - Tui thc: l thi gian s dng tnh n ngy nh gi. - Tui th k thut: thi gian use ti t v mt k thut - Tui th kt: time use ti a xt v hiu qu kinh t. - Tui th kt cn li: l time use cn li pht huy dc hq. - Tui hiu qu: l time use thc t c hiu qu. Mc gim gi c tnh = chi ph thay th cng trnh tnh theo mt bng x (tui thc / tui th kt) +u im: - u im c bn ca phng php chi ph l n dc s dng khi ko c bng chng th trng thch hp so snh. S dng nh gi cc BS rt him khi thay i ch s hu v thiu c s d bo li ch tng lai. Trong mt s tnh hung, n l cu cnh cui cng khi cc phng php khc l khng th s dng dc. - PP chi ph thch hp khi nh gi BS dung cho cc giao dich v mc ch ring bit. Vic c tnh theo pp ny ph thuc nhiu vo chuyn mn v kinh nghim ca thm nh vin, do vy, nu nh thm nh c chuyn mn cao, nhiu kinh nghim v lm vic mt cch khch quan th c th hn ch dc nhng sai st khi cung cu c biu hin ca s thi qu. + Hn ch: - Vic nh gi theo pp chi ph cng phi da vo cc d liu th trng, cho nn nhng hn ch ca pp ss trc tip cng dung vi pp chi ph. - Chi phi ni chung l ko bng vi gi tr v ko to ra gi tr. Pp chi ph phi s dng cch tip cn cng ti, song tng ca nhiu b phn cha chc bng vi gi tr ton b. - Vic c tnh mt khon gim gi c th tr rt ch quan v kh thc hin. Trn thc t cha c 1 pp c tnh gim gi c th no dc chp nhn rng ri. - p dng pp ny i hi ngi nh gi phi c nhiu kinh nghim v c bit l phi thnh tho v k thut xy dng. + iu kin p dng: - l mt pp thch hp khi nh gi BS c mc ch s dng ring bit, nh: nh th, bv, trng hc, th vin, nh my in, nh my ha cht, c s lc du c bit nhng cng trnh cng cng c rt t chng c th trng so snh.

- nh gi xc nh mc bi thng khi xy dng cc hp ng bo him v cc dng bi thng khc. - L pp thng dng ca ng tham gia u thu hoc kim tra u thu. - PP chi ph dc vn dng trong trng hp m ngi ta tin tng rng chi ph l yu t chnh v l nhng khon chi tiu cn thit, thch hp to ra gi tr ca BS. - PP chi ph cng thng dc dung c tnh cht b sung hoc kim tra i vi cc pp khc. + Phng php thng d: ( nguyn tc ng gp) + cc bc: > bc 1: xc nh cch s dng cao nht v tt nht cho BS mc tiu, c tnh n nhng quy nh v xy dng v nhng hn ch khc. > bc 2: c tnh tng gi tr ca s pht trin theo hng SDTN& HQN, bng cch s dng pp so snh trc tip hay pp u t. > bc 3: c tnh tng chi ph pht trin, bao gm: chi ph cy dng, chi ph ti chnh, cc chi ph khc c lin quan v li nhun ca nh u t xy dng. > bc 4: xc nh gi tr cn li (hay cn gi l gi tr thng d) bng cch ly tng gi tr pht trin tr i tng chi ph pht trin. > bc 5: xc nh gi tr BS mc tiu bng cch da vo gi tr cn li v cc yu t gi nh cu thnh vn ca BS mc tiu, gm cc gi nh v: ph php l, thu chuyn nhng BS, chi ph ti chnh v li nhun c lin quan. + u im: - dc s dng nh gi cc BS c tin nng pht trin. - y l pp thch hp a ra cc mc gi khi thc hin u thu. - pp ny m phng li cch thc phn tch, nh gi cc c hi u t vo BS. V vy, n c gi tr quan trng t vn v chi ph xy dng ti a v tin cho thu ti thiu cn t dc khi thc hin d n ptr BS. + Hn ch: - kh khn trong vic xc nh s dng tt nht v c hiu qu nht - chi ph v gi bn c th b thay i ty theo cc iu kin ca th trng. - gi tr cui cng rt nhy cm i vi cc tham s v chi ph gi bn. - pp ny ko tnh n gi tr thi gian ca tin. + iu kin p dng: - ph hp khi nh gi bs c yu cu v s ptr ko phc tp. cc yu t c tnh lin quan n gi bn, gi cho thu v chi ph t c tin cy cao. - nh nh gi phi c nhiu kinh nghim v ptr v m rng t ai xc nh ng c hi SNDT&HQN. - nng cao kh nng ng dng, cn s dng cc k thut nh gi ri ro, phn tch xc sut vi s tr gip ca cc p tin tnh ton hin i khi nh gi cc p n ptr BS. + Quy trnh nh gi bt ng sn: quy trnh hay trnh t nh gi l mt qu trnh c tnh h thng nhm gip thm nh vin hnh ng mt cch r rang, ph hp vi cng tc nh gi. L k hoch hnh ng mt cch c trt t, cht ch, ph hp ci cc nguyn tc nh gi, gip thm nh vin a ra dc n~ kt lun c c s v c th m bo dc. + Quy trnh nh gi gm c 6 bc: 1- xc nh vn . 2- ln k hoch 3- thu thp thng tin 4- phn tch thng tin 5- chun b thng tin 6- bo co nh gi. + 10 Ni dung ca bo co nh gi: 1- trnh by chnh xc mc ch, nhim v nh gi; 2m t ts mc tiu: a ch, dc im vt cht v tnh trng pl; 3- m t cc ch dn, cc ti liu khch hng cung cp v c th s dng dc; 4- cng b r rang v ngun gc ca ti liu dc s dng; 5- tm tt r rang v tnh cht, cht lng thng tin v cc dk ca th trng lm c s nh gi; 6- trnh by mt cch hp l v r rang cc pp nh gi dc chp nhn, v cc k thut phn tch dc use trong mi pp; 7- tuyn b r rang v gi tr cu bs mc tiu; 8- khng nh ngy nh gi c hiu lc; 9nhng hn ch nh hng n kt qu c tnh; 10nhng mu thun v trch nhim ca nhng ngi s dng thng tin nh gi; + 9 Ni dung ca chng th thm nh gi: 1- BS dc tnh gi; 2- v tr quy m; 3- tnh cht thc trng; 4- tnh trng pl; 5- hn ch; 6- pp nh gi; 7- thi im nh gi; 8- gi BS; 9- ni dung #; + Tnh minh bch ca mi trng kd ah ntn n TV: hot ng thun li, r rang, chnh xc cao hn; xu hng pht trin ngh chuyn nghip hn; to s pht trin cho ngh thm nh gi.