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Interesting facts about expert opinions
The preparation of an appraisal for a property sale is not usually free of charge. A professional appraisal requires a comprehensive and well-founded analysis, which involves a considerable amount of time and expertise.
The necessary steps include a detailed initial discussion to clarify the requirements, a thorough property inspection, the procurement and evaluation of relevant documents and the actual valuation, taking into account market analyses and legal requirements. Added to this is the careful determination of a realistic offer price.
The costs cover the work involved, the expertise of the valuer and any expenses. It is therefore customary to charge a fee for a professional appraisal.
A valuation by an expert offers numerous advantages, particularly in terms of accuracy, transparency and professionalism.
A valuer has in-depth specialist knowledge and experience, which means that the property value determined is realistic and in line with the market. This creates a reliable basis for important decisions, such as the purchase or sale of a property. By taking into account all relevant factors, such as location, condition and current market developments, an objective valuation is guaranteed.
In addition, a professional appraisal is often a prerequisite for banks or authorities, for example in the case of financing, inheritance or divorce. It provides security, transparency and strengthens the negotiating position in price negotiations. With an expert at their side, clients benefit from expert advice and a customised valuation.
1. market value appraisal:
This appraisal determines the market value of a property and is often required for purchase or sale decisions, inheritance matters or divorces. It is based on the legal requirements of § 194 BauGB and takes into account all value-relevant factors.
2. brief appraisal:
A brief appraisal offers a compact and more cost-effective alternative to a market value appraisal. It is suitable for simple property valuations, for example for initial orientation in the event of a sale, but is less detailed and is not always recognised by banks or authorities.
3. income capitalisation appraisal:
This appraisal is primarily prepared for yield-orientated properties, such as apartment blocks or commercial properties. It focuses on the future income that can be expected from the property and is important for investors.
4. asset value appraisal:
In an asset value appraisal, the value of a property is determined on the basis of its construction costs and the value of the land. This type of appraisal is often used for owner-occupied properties or in regions with low market activity.
5. mortgage lending value appraisal:
This appraisal is used specifically by banks to secure property financing. It determines the long-term realisable value of a property and often deviates from the market value.
6. rental value appraisal:
This type of appraisal determines the local comparative rent and is used in the event of rental disputes, new lettings or adjustments to rental agreements.
Each type of appraisal is specifically tailored to the respective situation and the client’s requirements.
Whether a brief appraisal is sufficient or a market value appraisal is required depends on the intended use. A brief appraisal is often sufficient for a rough value orientation, e.g. when selling a property. A market value appraisal, on the other hand, is necessary if legal bindingness is required, e.g. for inheritance matters, divorces or for banks.
The contract phase is characterised by clear coordination and binding agreements. Firstly, all details such as the desired scope of services, the time frame and the fee are determined. The contract is then concluded, in which all points are set out in writing. The valuer remains in close contact during the process in order to clarify any queries or adjustments. Once the valuation has been completed, the results are handed over and, if necessary, explained in detail.
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