Are you planning to sell or buy real estate? Are you going to inherit it? In all cases, you will definitely need an appraisal. This is carried out on the basis of several parameters by appraisers or forensic experts.
When is a property valuation done?
Knowing the value of a property is always worthwhile, yet there are times when it is literally a necessity.
- An appraisal is important when selling a property.
- You also need it in probate proceedings.
- You cannot do without a property valuation when you want to give the property to someone or transfer part of it to someone.
- It is also essential when arranging a mortgage.
What is a property valuation for?
It depends on what you want to do with the property. If you are going to sell the property, you certainly don’t want to lose money on the sale. The buyer, on the other hand, will not want to pay more than the property is really worth. When it comes to inheritance proceedings, the notary may ask you to determine the market price of the property. What about the mortgage? This is secured by the property in question, so it is clear that the bank will want to know its value.
How much does a property valuation cost?
Prices for the preparation of estimates vary for houses and flats, depending on the specific case and also on who will carry out the estimate. Appraisers tend to be cheaper than court experts, who are used when it is necessary to have a property valued for the purposes of litigation, property settlement, for example after a divorce or in connection with foreclosure.