What our estimate is
The estimate shown on the results page is an indicative market value, calculated by an artificial intelligence model on the basis of the data you entered in the form (address, floor area, characteristics, condition) and public market data (OMI database — Italian Revenue Agency (Agenzia delle Entrate) real estate observatory, historical transactions, urban-planning and location parameters).
The estimate is expressed as a range (minimum, central and maximum value) with a confidence indicator. The more complete the data you provide, the more accurate the returned range.
What our estimate is NOT
To be fully transparent, it is important that you know exactly what the estimate does not represent. It is not a formal or binding document.
- It is not a real estate appraisal (perizia immobiliare) pursuant to Ministerial Decree 28/2010
- It is not a valuation compliant with international RICS or IVS standards
- It is not a sworn appraisal or a signed opinion of value from a registered appraiser
- It is not binding on Refit.space srl or on third parties (banks, notaries, courts, public administrations)
- It is not an offer to buy, sell or broker a property
When you CANNOT use the estimate
For purposes that require a formal valuation signed by an appraiser registered with a professional roll, our estimate is not sufficient. Please engage a qualified appraiser.
- Mortgage applications or bank guarantees
- Succession proceedings, inheritance divisions, gifts
- Divorce or property separation proceedings
- Insolvency, enforcement or other court proceedings
- Company contributions, mergers, demergers
- Notarial deeds, official sales, preliminary contracts
- Tax filings requiring a formal appraisal
Geographic coverage and calculation model
At present our artificial intelligence model covers the Milan and Como areas with the highest accuracy. For properties in other parts of Lombardy or Italy, the tool uses a local calculation engine based on average market parameters: in these cases the estimate is more indicative and the returned range may be wider.
The model is updated periodically to reflect market trends; consequently the estimated value for the same property may vary over time.
Responsibility for use of the estimate
Use of the estimate and any financial decision taken on the basis of it are entirely your own responsibility. We recommend always verifying the result with a qualified professional (real estate agent, appraiser, surveyor, architect) before making significant financial commitments.
The limitations of liability of Refit.space srl, formulated in compliance with the Italian Consumer Code and in particular art. 33(2), are described in full in section 5 of the Terms and Conditions of Use. In any event, all mandatory consumer protections remain fully in force, and the limitations do not apply in cases of wilful misconduct, gross negligence or personal injury.
AI system and the AI Act
Pursuant to Regulation (EU) 2024/1689 (AI Act), our tool is a low-risk artificial intelligence system: it does not fall within the high-risk systems listed in art. 6 of the AI Act, as it is not intended for evaluating creditworthiness, personnel selection, delivery of essential public services, or any other use classified as critical by the Regulation.
Notwithstanding this, we voluntarily apply principles of transparency and human oversight: we clearly declare when a result is generated by an automated model, we show the confidence interval, and we invite you to verify with a professional.
Further information
The full conditions governing use of the site and the service are in the Terms and Conditions of Use. The way we process your personal data is in the Privacy Policy. For any query or request write to info@refit.space.