Berlin Property valuation for free
You want to know how much your property is worth? On this page and the followings we are answering plenty of questions about the topic “real estate valuation”.
Of course we will also help you in the practical assessment of your property. If you are thinking about selling your current real estate, the property valuation service is free of charge and without further obligation.
When is a Berlin real estate valuation needed?
The most common reasons for the valuation of a Berlin property are:
- Purchase and sale of a property in Berlin / sale by auction
- Separation and divorce of spouses
- Distribution of inheritance/ division of estates
- Tax issues / wealth assessments
- Legal disputes
During the property valuation process the market value of the Berlin property is determined, which is the Berlin real estate prices that presumably would be achieved in case of sale.
What methods of valuation are available in the Berlin property market?
The Valuation Ordinance basically provides three different methods of valuation:
- cost approach
- sales comparison approach
- income approach
Which method is used depends on many factors: the nature and use of the Berlin property, the cause and scope of the Berlin property valuation, and the appraiser himself.
Important: always ask the surveyor which method he or she uses for the valuation of the Berlin property, because it has an impact on the property's value.
What role plays the type of the real estate in Berlin?
The type of property in Berlin and its use influences the valuation significantly.
For example, when it comes to the assessment of land in Berlin, the potential development of the plot in Berlin and its economic exploitation will be emphasised. On the other hand, for the valuation of Berlin houses and Berlin apartments, other aspects such as the building structure, renovation plans or expansion options come into play. Additionally, income is the critical factor for rental properties in Berlin. In other words, which return on investment is achievable at the moment, in the future and what are the expenditures?
How does a free Berlin property valuation work?
After the commissioning, the appraiser makes firstly an inventory check. That means, he studies all the documents of the Berlin home and views the property in Berlin in order to get an accurate picture. During this phase the appraiser evaluates all the relevant aspects with the help of a checklist. Example questions would be as following:
- How good is the heat insulation?
- Is the roof removable?
- How is the district development?
The final evaluation considers all the value-enhancing features (e.g. potential raise of rental prices) and value-reducing characteristics (such as wet basement). Lastly, a value or a range of values for the property is determined, based on the current supply and demand for comparable properties. In fact, the value of a property is always what the market says it is worth, for a specific micro-location at a specific time.
When do I need a written appraisal report for my Berlin real estate?
If you want to sell a property in Berlin you do not need a written appraisal report, because buyers would not accept it anyway and they would determine their own price. On the other hand, a written opinion is always useful when the value should be recorded also by other parties (e.g. tax office, co-heir, ex- spouse, etc.). Should it withstand the position in a legal dispute, a so-called full report is necessary, otherwise a short report or an opinion on the Berlin real estate market value may be sufficient.
How much does an appraisal report cost and when is the Berlin property valuation free of charge?
Written reviews are in principle subject to billing. The cost of the assessment depends on the extent and nature of the assessment. A simple Berlin home or Berlin apartment report costs usually up to 1,000 euros, while the costs for a full report for a property in Berlin is significantly higher (2,000 or 3,000 euros). The expenses for the valuation shall be freely negotiated between the client and the appraiser, since there is no official fee schedule anymore. If an owner of a real estate in Berlin wants to sell its Berlin apartments or Berlin residential property, it does not need any detailed appraisal report. In this case, we as Berlin property marketoffer to carry out the assessment for you. The owner of a Berlin real estate receives a qualified valuation on site and professional information about the marketing opportunities.