You have inherited a house with land and are faced with the question: What is it really worth? A quick online assessment is the first step, but for the tax office and a profitable sale, you need a more informed strategy.
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The topic briefly and concisely
An online appraisal provides a quick initial overview, but it often deviates 15-20% from the actual market value.
A qualified market value appraisal in accordance with ImmoWertV is essential for the tax office or in cases of inheritance disputes.
You can contest the often overestimated valuation by the tax office with your own appraisal and thus save on inheritance tax.
Inheriting a property and assessing its value is both an emotional and financial challenge. Incorrect assumptions can cost you thousands of euros in taxes or sale proceeds. This guide will lead you through the process of valuing an inherited house with land online, highlighting the limitations of free tools and explaining how a professional analysis can provide a solid, data-driven foundation for decision-making. This way, you can turn uncertainty into a clear roadmap.
Step 1: Gain initial orientation through an online assessment
Are you tasked with valuing an inherited house with land online? The first step is often a digital tool that provides you with an initial value estimate in less than 5 minutes. These calculators use algorithms that determine comparable values for your region based on millions of transaction data. For a first rough estimate, these free services are very useful.
However, accuracy has its limits. Online calculators rarely take into account the individual condition, completed renovations, or specific defects of your property. Deviations of 15% to 20% from the actual market value are therefore not uncommon. Consider the result as an initial guide rather than a final selling or tax basis. A free online value analysis is the ideal starting point.
How to strategically use online valuations:
Enter basic data like address, year of construction, and living area to get an initial benchmark.
Use 2-3 different free calculators to determine a price range.
Note the results as a reference point for the subsequent, more detailed steps.
Compare the online value with prices of similar properties on real estate portals in your immediate neighborhood.
This initial analysis gives you a solid foundation to understand more in-depth valuation procedures.
Step 2: Understanding the official evaluation procedures for legally compliant results
For legally and fiscally recognised valuations, the legislator prescribes specific methods that are anchored in the Immobilienwertermittlungsverordnung (ImmoWertV) and the Bewertungsgesetz (BewG). Only a qualified expert report applying these methods can withstand in front of the tax office or in inheritance disputes. An online tool can never replace such an expert report.
The three main methods are:
Comparable value method: This method is most commonly used for owner-occupied houses and apartments. The value is derived from the actual sale prices of recently sold, very similar properties in the neighbourhood.
Cost approach: If there are no or too few comparable properties, the cost approach is used. It determines what it would cost to rebuild the property today, subtracting depreciation due to age and condition.
Income approach: This method is relevant for rented or commercially used properties. It is based on the future expected rental income.
The choice of the correct method by an expert can influence the determined value by up to 25%. A professional expert report ensures that all value-relevant factors are weighted correctly. Knowledge of these methods is crucial to critically assess the tax office's valuation.
Step 3: Establish a solid data foundation with the right documents
An accurate property valuation is only as good as the data it’s based on. Without complete documents, even the best expert can only make an estimate. Compiling these documents is one of your most important duties as an heir and can save you time and up to 500 euros in assessment costs later on.
The following documents are essential for a well-founded valuation:
Current land register excerpt: It proves ownership and shows any encumbrances such as rights of way or land charges (no older than 3 months).
Building plans and description: Floor plans, sectional drawings, and elevations are crucial for calculating areas and volume.
Living and usable area calculation: A detailed breakdown of areas according to the Living Space Ordinance (WoFlV).
Energy performance certificate: A valid energy certificate is required by law and influences the value; good energy efficiency can increase the price by over 10%.
Proof of modernisations: Invoices and receipts for renovations over the last 15-20 years (e.g., new roof, new heating system).
Certificate of inheritance or notarial will: Proof of your legitimacy as an heir.
With a complete set of documents, you not only accelerate the valuation process but also enable a more precise determination of value. The Auctoa Heritage Manager can help you structure this process.
Step 4: Review the tax office assessment and save on taxes
After an inheritance, the tax office determines the value of your property to set the inheritance tax. This is often done through a standardized mass procedure that does not take into account individual characteristics such as renovation backlogs or poor micro-location. Since the law change in 2023, these valuations tend to be higher.
This blanket valuation is often 15-25% above the actual market value, leading to an unnecessarily high tax burden. However, you are not helplessly subjected to this value. The law grants you the right to demonstrate a lower value through a qualified market value appraisal (§ 198 BewG). Such a counter-appraisal can often reduce the tax burden by a five-figure amount. Therefore, do not wait for the tax assessment, but be proactive. With a precise market value appraisal for the tax office, you secure yourself.
Step 5: Determine the property value as the basis for the calculation
The value of your inherited house is inextricably linked to the value of the land. The basis for this is the so-called standard land value. This official average value is determined by local expert committees at least every two years and indicates the price per square metre for undeveloped land in a specific zone. The calculation of the pure land value is simple: standard land value x plot area in m².
However, the standard land value is only a guide. The actual market value of a plot can deviate by 10-20% from the land value. Factors such as the shape of the plot, buildability, orientation, or even the tree population can positively or negatively influence the value. An expert incorporates these individual characteristics into the overall evaluation. An accurate property valuation in inheritance cases is therefore essential for a realistic overall assessment. Only the combination of land and building value results in the final market value.
Conclusion: Realise the maximum value with a strategic evaluation
Assessing an inherited house with a plot of land online is a sensible first step for a quick overview. However, for decisions with significant financial implications – whether it's selling, renting, or dealing with the tax office – it is insufficient. A data-driven, professional valuation protects you from costly mistakes and provides an objective foundation for all subsequent steps.
By understanding the official procedures, preparing all documents, and critically questioning the valuation of the tax office, you take control. An investment of around 2,500 euros in an appraisal can save you more than 10,000 euros in taxes. Use digital aids like the ImmoGPT chat for quick questions or commission a comprehensive online value analysis to make the most of an inherited house. Make decisions based on facts, not assumptions.
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Additional useful links
Statistisches Bundesamt offers detailed information on construction prices and the property price index in Germany.
Bundesministerium der Finanzen provides comprehensive information on inheritance and gift tax.
BORIS enables access to official standard land values, which are an important basis for property valuation.
Bundesinstitut für Bau-, Stadt- und Raumforschung (BBSR) offers a dashboard with current data and analyses for the property market report.
Deutscher Städtetag publishes relevant publications and assessments on the residential property market.
Verband deutscher Pfandbriefbanken (vdp) provides the VDP property price index, which reflects price developments in the German property market.
FAQ
How long does it take to prepare a market value appraisal?
Once all the necessary documents are available and the expert has conducted a site inspection, it typically takes between two and four weeks to produce a complete market value appraisal.
What is the difference between market value and land reference value?
The standard land value is only the average price for the pure land in a specific location. The market value (or market worth) includes the land value plus the value of the building on it, taking into account condition, equipment, and market situation.
Can I always save on taxes with an expert opinion?
In many cases, yes. Since the standard assessment by the tax office is often done without consideration and without an inspection, an individual appraisal that takes deficiencies or a backlog of renovations into account can demonstrate a lower and more realistic value. This directly leads to a lower inheritance tax.
What happens if I cannot agree on the value with co-heirs?
In an inheritance community, a neutral and independent market value appraisal is the best solution to avoid disputes. It creates an objective and comprehensible factual basis for all parties and serves as a foundation for the payout of co-heirs or the sale.
How does Auctoa help me in valuing my inherited house?
Auctoa offers an AI-powered online analysis for a quick initial assessment. For legally binding purposes, we connect you with qualified experts to create a report in accordance with § 194 BauGB. Our inheritance manager also helps you manage the entire process digitally and transparently.
Do I have to accept the inheritance to have the house appraised?
You can also have a preliminary, non-binding valuation conducted before accepting the inheritance to have a basis for decision-making. However, for an official appraisal and access to all documents, the acceptance of the inheritance and the corresponding proof (certificate of inheritance) are required.
