Have you inherited a flat and are wondering about its true value? A quick online valuation is tempting, but for tax purposes and fair division of inheritance, you often need more than just a click. This guide leads you from an initial estimate to a reliable market value.
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The topic briefly and concisely
Online property valuations offer a quick but often imprecise initial estimate of a property's value.
A professional valuation report can correct the value set by the tax office and thus reduce inheritance tax.
The comparative value method is the standard for appraising an inherited apartment, which is based on the actual sale prices of similar properties.
Inheriting a property is a significant event that involves not only emotional aspects but also financial responsibility. One of the first and most important tasks is to determine the market value of the inherited flat. This figure is crucial not only for a potential sale, but also for the community of heirs and especially for the correct assessment of inheritance tax by the tax office. Many online tools promise an evaluation within minutes. However, their results are often just a rough guideline. We guide you through the necessary steps to accurately determine the value of your flat and show you how you can save real money with a professional valuation.
Online Reviews: Opportunities and Limitations of the Digital First Impression
A first idea of the value of your inherited apartment is often obtained through free online calculators. These tools use algorithms and compare your property data with thousands of listings in databases. Within just 5 minutes, you will receive an initial price estimate by email.
However, the accuracy of these assessments is limited. The indicated price range can easily encompass a six-figure amount, which is insufficient for precise decisions. Individual features, such as a high-quality renovation last year or an undiscovered water damage, are not captured by these systems.
Many online tools use offer prices, not actual sale prices, which can distort the value by up to 15%. This initial estimate is a good starting point but does not replace a detailed analysis, which is often indispensable for official purposes. You can learn more about the reliability of online valuations in our blog. The next step therefore leads us to the crucial issue of tax appraisal.
Market value for the tax office: How an appraisal can reduce the tax burden
After an inheritance, the tax office requires a valuation of the property to calculate inheritance tax. The authorities often use flat-rate valuation methods based on standardised data such as the standard land value. This method rarely considers the individual condition of your property, which often leads to an overestimated value.
However, you have the right to prove a lower market value. According to § 198 of the Valuation Law (BewG), you can present a qualified market value appraisal from an expert. If the tax office accepts this appraisal, the tax burden can be significantly reduced.
A professional appraisal can reduce the tax assessment basis by 10-20%, which can mean savings of thousands of euros. Such an approach provides legal certainty and ensures that you do not pay more tax than necessary. The basis for any appraisal is thorough documentation, as we will see below.
Essential Documents: The Basis for Any Accurate Valuation
To obtain a comprehensive assessment of your inherited apartment, gathering all relevant documents is essential. These documents provide the expert with the necessary facts for a transparent and accurate calculation. Without these documents, a reliable evaluation is almost impossible.
The following list shows the most important documents for the evaluation of a condominium:
Current land register excerpt: Shows evidence of ownership and any encumbrances.
Declaration of division: Defines the private property (apartment) and communal property.
Living space calculation: An exact specification of square meters is crucial.
Energy performance certificate: Provides information about the building's energy efficiency.
Minutes of the last 3-5 owners’ meetings: Indicate planned or executed renovations.
Proof of modernisations: Demonstrate value-enhancing investments over the last 15 years.
Current service charge statement and business plan: Provide insight into ongoing costs and the amount of the maintenance reserve.
The procurement of these documents may take several weeks but is the first step to a reliable evaluation. With these documents, the expert can apply the appropriate evaluation method.
The Comparative Value Method: The Gold Standard for Condominiums
The comparative value approach (§ 15 ImmoWertV) is primarily used in Germany to determine the market value of condominiums. This method establishes the value by comparing your property with similar, recently sold properties in the neighbourhood. The local appraisal committees provide the data basis for this.
Comparability is assured using at least four criteria:
Location: Both the macro-location (city, region) and the micro-location (immediate surroundings) are assessed.
Size: The living space in square metres is one of the most important indicators.
Features: Aspects such as a balcony, fitted kitchen, or a modernised bathroom are included in the assessment.
Condition: The year of construction and the extent of conducted maintenance are crucial.
This method is considered particularly market-oriented as it is based on real transaction prices from over 1,000 appraisal committees in Germany. A digital valuation tool can offer an initial approximation here, but fine-tuning requires expert knowledge of the local market. This leads to a balance between a quick online analysis and a detailed appraisal.
Weighing Costs and Benefits: When a Professional Appraisal is Worthwhile
The decision between a free online valuation and a paid appraisal depends on the purpose. For an initial orientation, an online tool is often sufficient. However, when it comes to inheritance tax or distribution among co-heirs, a legally binding appraisal is usually essential.
The costs for a full market value appraisal start at around €2,900 and depend on the property's value and complexity. This investment can quickly pay off. Suppose an appraisal reduces the value estimated by the tax office from €450,000 by just 10% to €405,000, saving you already €6,750 at a tax rate of 15%.
The costs for the appraisal are usually significantly lower than the potential tax savings. To get an initial indication, you can use interactive tools like our inheritance tax calculator. Understanding the legal framework further strengthens your position.
Understanding Legal Foundations: BauGB and ImmoWertV as a Basis
The property valuation in Germany follows clear legal guidelines to ensure uniform and comprehensible results. The two most important sets of regulations are the Baugesetzbuch (BauGB) and the Immobilienwertermittlungsverordnung (ImmoWertV). These laws provide a reliable framework for appraisers, authorities, and owners.
The central term is the market value (Verkehrswert), defined in § 194 BauGB. It describes the price that could be achieved at a specific point in time under normal business transactions. The ImmoWertV specifies the three permissible methods for valuation: the comparison method, the income method, and the asset-based method.
Understanding these fundamentals helps you to better comprehend the role of an appraisal and communicate on equal terms with experts. A well-founded valuation protects you from financial disadvantages and provides a solid base for all further decisions.
verkehrswert-meiner-geerbten-wohnung-online-bestimmen
Determining the market value of an inherited flat online is a sensible first step for a rough orientation. However, for binding occasions such as inheritance tax or the payout of co-heirs, a qualified appraisal is essential. It provides a realistic market value and can reduce your tax burden by thousands of euros.
The process requires the careful collection of documents and the application of the correct valuation method, usually the comparative method. The investment in a professional appraisal usually pays off through tax savings and the gained legal certainty. A data-based, objective valuation is the safest way to realise the true value of your inherited property and avoid costly mistakes.
Additional useful links
Statistisches Bundesamt (Destatis) provides information on construction prices and real estate price indices in Germany.
Statista offers statistics on real estate prices by year of construction in Germany.
Gesetze im Internet provides access to the German Inheritance and Gift Tax Act (ErbStG).
Bundesfinanzministerium provides information on inheritance and gift tax.
Wikipedia offers an article about expert committees, their tasks, and significance in real estate valuation.
BORIS-D is the central information system of the expert committees for property values in Germany and enables the retrieval of standard land values.
Bundesinstitut für Bau-, Stadt- und Raumforschung (BBSR) provides a dashboard for the real estate market report.
FAQ
What is the difference between market value and standard value?
The market value is the price that can currently be achieved on the market for the property. The standard value is an outdated tax assessment base, which will be replaced by new property tax values for property tax purposes from 2025, but is not directly relevant for inheritance tax.
How long does it take to prepare a market value appraisal?
Depending on the availability of all documents and the workload of the expert, the preparation of a complete appraisal usually takes between three and six weeks. The actual on-site inspection only takes a few hours.
Can I determine the value of my inherited apartment myself?
You can use comparison portals for a personal assessment. However, as a layperson, you cannot conduct an evaluation recognised by authorities. This is because you lack access to the official purchase price collections from evaluation committees and the methodological expertise.
Does every co-heir have to agree to the appraisal?
For submission to the tax office, approval is not required. However, within the community of heirs, a neutral appraisal helps to avoid disputes and establish a fair basis for distribution or payment. It is therefore recommended to jointly appoint the appraiser.
