Are you facing a sale, an inheritance, or an important investment decision regarding a property? A comprehensive appraisal is often the first step towards clarity and security. Find out here what steps are necessary for an appraisal and how to optimize the process.
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The topic briefly and concisely
A property appraisal typically involves 5 main steps: preparation/clarification of the assignment, property inspection, valuation according to the ImmoWertV, preparation of the report, and delivery.
The cost of a full appraisal is usually between 0.5% and 1.5% of the market value; the preparation takes about 3-4 weeks.
Legal foundations such as the BauGB (§194) and the ImmoWertV define the standards for the determination of market value.
The value of a property is not a fixed figure; it is influenced by numerous factors. This makes a professional valuation all the more important, providing you with a reliable basis for your decisions. Whether for selling at the best possible price, the fair division of an inheritance, or assessing investment potential – understanding which steps are required for an appraisal is crucial. This article guides you through the entire process, from the initial enquiry to the finished document, and shows you how to achieve an accurate result with expert support, for example through an Auctoa valuation. This way, you can confidently navigate the complexities of property valuation.
Preparation: Laying the Foundation for a Meaningful Report
Before the actual evaluation process begins, careful preparation is essential. Clearly defining the reason for the valuation—whether it's a sale, inheritance, or asset overview—is the first step and influences the type of report. For a full report, which often spans 20-30 pages, you should expect costs between 0.5% and 1.5% of the property's value. A short report is much cheaper, ranging from €100 to €500, but is not suitable for all purposes. Gather all relevant documents, including a current land register extract (not older than 3 months), building plans, energy certificate, and evidence of modernizations from the past 15 years. Complete documentation significantly speeds up the process. Thoroughly clarifying the assignment and providing the documents is therefore crucial for the subsequent procedure, as detailed in the Auctoa Evaluation Process. This phase lays the foundation for the accuracy of the entire evaluation.
The on-site visit: Inspect the property in detail and collect data
Following the clarification of the order, an indispensable step follows: the on-site inspection by the expert. Depending on the size and type of the property, this appointment takes between one and several hours. During the inspection, the expert evaluates not only the obvious condition but also the building's structure, technical facilities, and any defects or damages. The location and immediate surroundings of the property also contribute at least 20% to the valuation. Precise documentation of all value-relevant features during the site visit is essential. It is helpful if, as the owner, you are available for queries and provide access to all areas. The results of this survey form an important basis for the subsequent valuation, as required for detailed valuation steps. Without a thorough inspection, a reliable assessment is hardly possible.
The valuation: Applying recognized methods for precise results
The actual valuation is based on the collected documents and insights from the property inspection. In Germany, three standardised methods according to the Immobilienwertermittlungsverordnung (ImmoWertV) are decisive for this. The selection of the method or methods depends on the type of property and the purpose of the valuation. Often, two methods are combined for validation purposes.
Comparative Value Method: Current sales prices of at least 3 comparable properties are used here.
Income Value Method: For rented properties, the sustainably achievable rental income is capitalised.
Cost Value Method: Here, the construction costs of the building and the value of the land (standard land value) are determined.
A qualified surveyor selects the appropriate method or a combination to determine the market value according to § 194 BauGB. This value reflects the price that could be achieved in ordinary business transactions. The complexity of this phase underscores the necessity for expertise, as required for a reliable valuation process. The correct application of these methods ensures the traceability of the result.
The report: document results transparently and comprehensibly
Following the valuation, the expert prepares the written report. A full report typically comprises 20 to 30 pages, sometimes more, and documents all relevant data and facts. It contains information about the subject of the valuation, the effective date, the reason for valuation, and a detailed description of the applied valuation methods. The justification of the determined market value must be clear and understandable for third parties. Graphics, photos, and appendices supplement the statements. The processing time for a comprehensive report usually takes three to four weeks after the site visit and receipt of all documents. Some providers, such as Certa-Gutachten, also offer shorter timeframes, e.g. 10 working days. Such a detailed document is often the first step in a valuation for official purposes. The quality of the report largely depends on the diligence during this phase.
The Handing Over and Use: Understanding and Applying Reports Correctly
The final step is handing over the completed property appraisal to you as the client. Take your time to thoroughly review the document and ask the appraiser any questions if there are uncertainties. A reputable expert will explain the contents and the derivation of the value to you. The appraisal now serves as a solid foundation for your subsequent decisions, whether it is selling the property, where a realistic asking price is mentioned by over 80% of potential buyers as the most important criterion, or a settlement of assets. It can serve as an important decision-making basis for banks, insurance companies, and authorities. For an initial assessment or in less complex cases, the ImmoGPT chat by Auctoa can provide quick orientation before you request a comprehensive appraisal. With the appraisal in hand, you are now well-prepared for the next steps.
Current Market Situation: Understanding the Context for Your Real Estate Appraisal
An appraisal report reflects the property's value on a specific date, influenced by the current market situation. The property prices in Germany showed stabilization towards the end of 2024 and the beginning of 2025, with some slight increases. According to the Federal Statistical Office, prices for residential properties in the fourth quarter of 2024 rose by 1.9% compared to the same quarter of the previous year. Other sources, such as IfW Kiel, reported a slight price decline of about 1.5% for condominiums for the entire year of 2024. At the same time, new construction activity is decreasing; only around 210,000 apartments were approved in 2024, which is 45% below the level of 2021. In contrast, there is an annual need for approximately 372,600 apartments. This market dynamics of supply shortage and price volatility highlights the importance of a current, professional appraisal. An effective appraisal process takes these factors into account. This information helps you better assess the value determined in the appraisal.
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The creation of a real estate appraisal is a multi-stage process that requires diligence and expertise. From the initial order clarification through the thorough property inspection and the application of recognised valuation methods to transparent documentation – each step contributes to the accuracy of the final result. Knowing which steps are necessary for an appraisal enables you to actively accompany the process and set the right course for your real estate decisions. A qualified appraisal that considers current market data provides you with the necessary security and a solid basis for negotiations. For an initial orientation or specific questions, the ImmoGPT by Auctoa is at your disposal, or you can directly request a non-binding offer for your appraisal. Invest in clarity – it pays off.
Additional useful links
HypZert provides information on real estate valuation from a certification organisation.
On Gesetze im Internet, you can find the Immobilienwertermittlungsverordnung (ImmoWertV 2022), which forms the legal basis for real estate valuation in Germany.
The Statistische Bundesamt (Destatis) offers comprehensive data on construction prices and real estate price indices.
The Beleihungswertermittlungsverordnung (BelWertV), relevant for the valuation of loan security properties, is also available on Gesetze im Internet.
Wikipedia provides an overview of the expert committees for real estate values in Germany.
Through BORIS-D, you can access the official land value information for properties in Germany.
The BBSR (Bundesinstitut für Bau-, Stadt- und Raumforschung) provides a dashboard for the German real estate market report.
FAQ
Why is a professional appraisal important for my property?
A professional appraisal provides you with an objective and market-appropriate value. This is crucial for successful sales negotiations (over 80% of buyers value a realistic price), fair inheritance settlements, bank loans, or tax assessments. It minimizes risks and establishes a solid basis for decision-making.
What is the difference between a short appraisal and a full appraisal?
A short appraisal (approx. 10-15 pages) provides an initial value assessment and is more cost-effective (approximately €100-500). A full appraisal (market value appraisal, often 20-30+ pages) is more detailed, legally secure (e.g., for courts or tax offices), and usually costs 0.5-1.5% of the property's value.
How do I find a qualified real estate appraiser?
Pay attention to certifications (e.g., according to DIN EN ISO/IEC 17024, from IHK, DEKRA, HypZert), memberships in professional associations (e.g., BVS) and proven experience. Obtain references and check whether the assessor is familiar with the local market conditions. Auctoa only works with certified experts.
Can I also determine the value of my property online?
Online evaluation tools, such as Auctoa's ImmoGPT, can provide an initial, quick price estimate (often within minutes). However, for binding statements, especially in the case of complex properties or official occasions, a detailed appraisal by an expert is essential, as online tools can only capture individual characteristics to a limited extent.
What impact does the condition of the property have on the appraisal?
The condition (building fabric, technical amenities, degree of modernization, any potential damage) is a crucial factor and is recorded in detail during the property inspection. It directly impacts the assessed value, as maintenance backlogs, for example, can decrease the value, while modernizations can increase the value by up to 15-20%.
How up-to-date do the data need to be for a report?
An appraisal always refers to a specific assessment date. The market data used (comparative prices, standard land values, etc.) should be as up-to-date as possible to reflect current market conditions. For example, a land register extract should not be older than 3 months.
