Real estate valuations come into play in real estate transactions, inheritance matters, divorces and all kinds of other processes. Some appraisals have to stand up before authorities and courts, others are for private use. For example, the owner of a condominium may want to find out how much his property is worth. He has the property valuation carried out by an estate agent. He can then offer the condominium or house for sale and achieve an optimal price. In other cases, surveyors or other experts are used. But what are the differences between a surveyor and a real estate agent when it comes to valuing a property?
How does an estate agent prepare a real estate valuation?
The central task of a real estate agent is to support their clients in a real estate transaction. In many situations, the estate agent acts as an intermediary between a prospective buyer and the seller. When selling a condominium or a house, the real estate valuation is carried out by the trusted real estate agent. They are able to assess the value of the property perfectly. In this way, a realistic sales price can be sought.
Owners often think they know their condominium or house best. However, they overlook objective criteria and instead rely primarily on the sentimental value. The calculation is based on the purchase price at the time and an increase in value that has occurred over the years. An estate agent, on the other hand, has the expertise to carry out a professional property valuation. They take a whole range of criteria into account. An estate agent’s appraisal is usually linked to success. In many cases, costs are therefore only incurred when the property is sold.
However, an estate agent’s expert opinion is not recognized in court or in official matters.
How does the real estate appraiser proceed?
The professional title of real estate valuer is not protected by law. It is therefore advisable to ask to see the qualifications of several candidates before finally deciding on a valuer. When preparing a property valuation, the valuer focuses on a range of different data:
- Energy consumption of the property and energy certificate
- Room layout and living space of the property
- Modernizations and renovations
- Macro and micro location of the property
- Equipment of the property
- Condition and year of construction
- Maintenance measures, rental income
- Layout and size of plot and property
- Condition of the pipes, lines, technology and sanitary facilities
Real estate appraiser or real estate agent: Who is needed when?
An appraiser is always needed when a property valuation is required for official procedures. There are also court proceedings in which the judge requests a real estate appraisal from a certified expert.
For proceedings that do not involve a legal dispute, a real estate valuation by an estate agent is recommended.
When is who needed? Some interesting examples:
- Real estate agent: real estate sale, divorce without litigation, real estate inheritance without litigation
- Sworn expert: insurance claims and claims, foreclosures, construction defects, divorce with litigation, problems with the tax office, real estate inheritance with litigation
- Financing bank: construction financing, real estate purchase
