A lacuna entre doutrina e prática na avaliação de imóveis
uma exposição estruturada de funções, limites e tensões
DOI:
https://doi.org/10.67330/x7pbfd13Palavras-chave:
avaliação de imóveis, protocolos de avaliação, normas de avaliação, Appraisal Foundation, valor de execução hipotecária, lacuna de avaliação, Prolog para avaliação, dinâmica do valor de mercadoResumo
A avaliação de imóveis ocupa uma posição de considerável interesse público; no entanto, sua doutrina oficial — centrada em pareceres de valor de mercado sob condições passadas e atuais — encontra-se em tensão crescente com o modo como os produtos da avaliação são efetivamente utilizados nos circuitos financeiros contemporâneos. Este artigo constrói esse argumento em cinco etapas, cada uma acompanhada de uma base de conhecimento explícita e consultável em Prolog: as duas primeiras estabelecem as funções sociais e econômicas que a avaliação cumpre; a terceira identifica seu principal produto final, um parecer de valor de mercado; e a quarta examina a orientação temporal e metodológica da avaliação diante da previsão quantitativa e financeira, juntamente com o limite regulatório que as separa. Todas convergem para a afirmação central da quinta: no crédito hipotecário, o valor de mercado escalonado por uma razão empréstimo-valor (LTV) funciona como uma proxy implícita do valor futuro de execução hipotecária — um uso orientado ao futuro que a doutrina do valor presente não reconhece. Muitos avaliadores, por desconhecerem esse papel de avaliação da garantia, não tratam o valor de mercado com a cautela quanto às tendências futuras de valor que ele exige; uma questão que esta exposição pretende evidenciar e abrir a trabalhos posteriores.
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