Counterparty Confirmation — Property Valuation Report
Counterparty confirmation is not asking the seller, “Is this valuation correct?” and closing the file when the answer is yes. Its purpose is narrower and more useful: confirm that everyone is referring to the same report, the same registered property and the same transaction, and treat information supplied by the seller or buyer as evidence to be reconciled rather than a substitute for the valuation report or the official process behind it. This matters particularly in foreign-buyer transactions because TKGM determines the transactions for which a valuation report is required and has changed the scope so that the requirement is focused on listed transactions in which a foreign natural person is the buyer.
Identify the report precisely
Record the report number or reference, issue date, issuing or responsible valuation channel and stated purpose. Ask the party who supplied the document to confirm that the copy is complete and final rather than a draft, screenshot or selected pages. Missing annexes are not cured by a seller explaining what the valuer “meant.” The missing material remains a document exception until the correct report is obtained or the current official process confirms what is required.
Reconcile the property word by word
Compare province, district, neighbourhood, ada/parsel, block, independent-unit number, floor, area and legal description with the registered property and transaction documents. Ask the seller specifically about any difference in unit number, area or address and request the document that explains it. A statement that “it is the same apartment” is not enough if the report identifies another unit or an outdated project configuration. Counterparty confirmation finds the discrepancy; objective evidence closes it.
Confirm the commercial price and its date
Record the agreed sale price, currency, payment structure and the date on which the price became binding. Compare those facts with the value or values in the report without assuming every difference is an error. A valuation is a professional opinion for a defined purpose, not a promise that the negotiated price or future resale price will match it. If the sale price changed after the report, confirm when and why, then assess whether the change affects reliance on the report under the current procedure.
Separate party information from source facts
A seller may describe renovations, leases, parking, storage or amenities that are said to affect value. Record these as claims requiring verification. Do not treat a parking space or store room as part of the valued legal interest unless the relevant right or appurtenance is supported. Likewise, a buyer saying that a report is “for citizenship” does not make every valuation suitable for that pathway; the report, transaction and current citizenship process must actually align.
Useful questions for the seller
Ask whether any material alteration or change of use occurred after the report date; whether the unit or project numbering changed; whether a tenancy or occupancy affected inspection access; whether the valuer physically accessed the unit; whether marketed appurtenances were omitted; and whether a later valuation exists. These answers do not determine value. They identify facts that may require a revised document or a specific explanation.
Useful questions for the buyer
Confirm the intended use of the report: price decision, foreign-buyer title procedure, financing, or a citizenship file. Make sure the buyer understands that a valuation report does not clear mortgages or seizures, certify structural safety, or replace contract due diligence. Where the buyer relies on a legal threshold or regulatory value, verify the current rule and the official purpose of the report rather than relying on a number repeated in sales discussions.
Document the confirmation separately
Use a dated confirmation note recording the questions asked, answers received and additional documents supplied. Do not alter the original report or annotate it in a way that suggests the valuer made statements that came from a party. Preserve the report exactly as issued and keep counterparty confirmations as a linked but separate record. When a party statement conflicts with the report, create an exception instead of choosing the version that helps the deal.
Stop conditions
Pause reliance if the report concerns another unit, the report reference cannot be reconciled with the process through which it should exist, a party says a newer report exists but will not provide it, material property characteristics changed, or the stated purpose is incompatible with the intended transaction use. A PDF forwarded through a messaging application should not be treated as the strongest available evidence where an official channel or verifiable report record can be used.
Quality outcome
Successful counterparty confirmation means the parties agree on which report is under review, the registered property identity is reconciled, commercial price changes are documented, and private claims are clearly separated from official valuation evidence. Whether the report is ultimately acceptable remains a question for the current official requirements and appropriate professional review, not the confidence of either counterparty.