Are you facing the challenge of determining the exact value of your property? A structured valuation process is crucial. This article guides you through the four key phases and shows you how to avoid common pitfalls.
Chat with ImmoGPT for free now.
With access to Google, BORIS, and Deep Research.
The topic briefly and concisely
A structured appraisal process consists of four core phases: job clarification, inspection, valuation, and report preparation.
Choosing the right valuation method (comparative, income, or cost approach) is crucial for the accuracy of the result.
The cost for a full valuation often amounts to 0.5% to 1.0% of the property's value; selecting a qualified appraiser is essential.
Do you know the true value of your property? This is a question many owners ask themselves, especially in complex situations such as inheritance or sale. A transparent and comprehensible valuation process is essential here. It not only provides a well-founded figure but also ensures legal certainty and a solid negotiating basis. This article highlights the individual steps of the process, from commissioning to the finished report, and offers you practical tips. Discover how you can gain clarity and avoid costly mistakes with a professional evaluation like the one offered by Auctoa.
Phase 1: Laying the foundation through careful project clarification and data acquisition
The valuation process always begins with a detailed clarification of the assignment. Here, the goals of the appraisal, such as for a sale or inheritance matter, are precisely defined. The surveyor requires a variety of documents for a thorough evaluation. These include a current land register excerpt, building plans (floor plans, sections, elevations), and a cadastral map. Having these documents complete can speed up the entire process by up to 2 weeks. Missing documents, such as the energy certificate or proof of modernisations, often need to be requested from authorities or previous owners, which can be time-consuming. Precise data collection forms the backbone for the subsequent valuation steps. The next step is the essential on-site inspection of your property.
Phase 2: Precise assessment through detailed property inspection
The second phase in the valuation process is the thorough inspection of the property. A certified expert examines the condition of the building's structure and technical equipment on-site. This includes assessing the facade, roof, windows, and heating system. For a typical single-family home inspection, assessors often allocate 1 to 2 hours. The precise documentation, often with over 50 photos, is crucial. Defects and damages, as well as high-quality features, are recorded in detail. The surrounding area and micro-location, including infrastructure and neighbourhood, contribute at least 15% to the evaluation. A careful on-site assessment is the foundation for the subsequent valuation. Next follows the selection of the appropriate valuation method.
Phase 3: Determining property value using recognized methods
After data collection and inspection, the actual valuation process in the appraisal is carried out. In Germany, three standardised methods according to the Immobilienwertermittlungsverordnung (ImmoWertV) are decisive. The choice of method depends on the type of property and the purpose of the valuation.
Common methods include:
Comparative Value Method: Here, the sale prices of at least 3-5 comparable properties are analysed.
Income Value Method: This is primarily used for investment properties and is based on the sustainably achievable rental income.
Cost Value Method: It determines the value based on the building's construction costs and the land value, minus depreciation.
A qualified appraiser selects the appropriate method or combines several to determine a market-consistent market value according to § 194 BauGB. Often at least two methods are used for plausibility. The complexity of this phase highlights the need for expertise, as provided by Auctoa through AI-supported analyses and experienced assessors. With the determined value, the final preparation of the report can begin.
Phase 4: Comprehensive Documentation in the Written Report
The conclusion of the valuation process is marked by the preparation of the written report. This document summarises in detail all the results of the preceding three phases. A full report often comprises 30 to 50 pages, sometimes even up to 120 pages for complex properties. It includes an accurate description of the property, explanation of the valuation methods used, and a comprehensible derivation of the market value. Transparency and comprehensibility are crucial for recognition by third parties, such as courts or tax authorities. The processing time for a full report can, depending on complexity and the availability of all documents, take 4 to 6 weeks. A short report is often completed in just a few days, but does not have the same legal binding effect. The clear structure and understandable language are quality features of a professional report. This ensures that the value of your property is thoroughly documented and usable for various purposes.
Costs and Choosing the Right Appraiser for Your Valuation Process
The cost of a property valuation report is an important aspect in the valuation process. For a full report that will also hold up in court, the costs typically range between 0.5% and 1.0% of the determined market value. With a property value of 300,000 euros, costs can thus range from 1,500 to 3,000 euros. Short assessments are significantly cheaper at 100 to 500 euros, but not suitable for all purposes. Choosing the right expert is crucial. Look for certified experts (e.g. according to DIN EN ISO/IEC 17024) or publicly appointed and sworn appraisers. These experts ensure an objective and methodically correct evaluation. The Auctoa valuation process relies on transparency and AI-supported accuracy to provide you with a reliable foundation. Ask for references and the exact scope of services before issuing a contract for your valuation process. Making an informed decision here secures the quality and reliability of the outcome.
Auctoa: Your digital partner for an efficient appraisal process
The property appraisal process can be complex and time-consuming. Here, Auctoa offers decisive advantages with its digital approach and the expertise of professionals like Federico De Ponte. Do you need a quick and neutral evaluation of your property? The Auctoa ImmoGPT chat can provide you with initial assessments in just a few minutes. For detailed and legally secure appraisals, Auctoa's established valuation process is at your disposal. This combines AI-powered data analysis with the experience of certified appraisers. This way, you receive an appraisal that can be up to 30% faster than traditional methods. The platform simplifies data collection and communication, optimising the entire process for you as an owner or investor. Take advantage of a free initial consultation to learn how Auctoa can meet your specific appraisal needs. The data-driven recommendations help you make informed decisions.
wertgutachten-prozess
Additional useful links
Destatis offers an overview page for construction prices and the property price index from the Federal Statistical Office.
Destatis provides detailed tables on house and land prices.
Destatis publishes a press release from June 2024 on current prices and developments in the real estate market.
Destatis publishes a press release from December 2024 on prices and the real estate market.
Wikipedia offers a comprehensive article on property valuation in German.
Wikipedia explains the German Real Estate Valuation Ordinance.
Gesetze im Internet provides the official text of the Real Estate Valuation Ordinance (ImmoWertV 2022).
FAQ
What is the first step in the valuation process?
The first step in the appraisal process is the clarification of the assignment. Here, the purpose of the appraisal and the necessary documents are discussed with the appraiser.
What valuation methods are there in the appraisal process?
The three most important standardised valuation methods in the appraisal process are the comparative value method, the income value method, and the intrinsic value method.
Why is a site visit necessary in the appraisal process?
The site inspection is a central component of the property valuation process, as it is the only way for the appraiser to objectively assess the exact condition, features, and any defects of the property, as well as its micro-location. This significantly influences the value.
How can Auctoa support the valuation process?
Auctoa supports the valuation process through AI-powered analyses for quick assessments (ImmoGPT) and a digitally optimised workflow for detailed evaluations by certified experts. This can speed up the process and provides you with data-driven, impartial assessments.
Is a short appraisal sufficient in the valuation process?
No, a short appraisal is not always sufficient in the valuation process. For legal disputes or submission to the tax office, a comprehensive full appraisal is usually required.
Can I deduct the costs for the valuation process from taxes?
The costs for an appraisal process are only tax-deductible in certain cases, such as in the context of an inheritance settlement to determine inheritance tax. There is no general deductibility.
