There are different situations in life where a property evaluation will be necessary. In addition to divorce/separation and the division of inheritances, for which the value of a property must be determined for a fair distribution, the most common reason is of course the sale or renting out of a property. The first question that arises for everyone here is of course the price at which the property should be offered on the market. For a realistic and tangible assessment, appropriate specialist and market knowledge is required.
Two values in real estate are commonly known. The first value everyone has heard of is the concept of market value, which is used to check the purchase price in comparison to other properties. The second value is the so-called loan value, a figure used by banks as the basis for the amount of loan granted.
Basically, there are three ways to assess the value:
Using the comparison value method, prices of similar properties in terms of plot, size, building structure and location are used and compared with one another. The price of the property to be assessed is then estimated in relation to the comparable objects.
Using the real value method, the market value of a property is first calculated from its building costs. The value of the land (or in the case of apartments the resp. share) is added to the value of all building parts to calculate the real value with a corresponding market adjustment factor.
How complex a professional property assessment is, of course, very much depends on the property itself (size, type of location, etc.). The expert has to dig up and collect documents from different sources. Therefore one has to allow for some time for a proper assessment, usually it takes about three to four weeks.
