At the beginning of the sale of real estate is the time for a proper assessment of your property. Is it possible for you to make a neutral assessment of your property? How do you go about making this judgement? Many of our clients respond: “Oh sure, my neighbour just sold his property for this price. My property definitely has the same value.” Though is it possible that you would be selling your property too cheaply using this tactic and just giving away your money?
When making a real estate evaluation, it is essential to have a neutral approach, including specialized literature and taking the local market into account. Here, in our regional location it is not sufficient to compare offers on real estate platforms. Many people selling their real estate privately underestimate this important procedure. Each property is distinctive in age, furnishings, size and special qualities. The regional location and the surrounding area also makes a big difference for the appraisal. Through online rating portals you can make acquire a rough estimate of the value, but when you want to achieve the best possible purchase price, a professional expert evaluation is essential. As every property is unique and it is not possible to be evaluated by an algorithm.
A professional specialist can evaluate your property according to three evaluation methods of the Real Estate Evaluation Ordinance ImmoWertV.
Depending on the type of property, another method is also available. Basically, the type and use of the property determines the appropriate procedure. In this instance, the real value method is used as the evaluation of a single-family home. The basis is the land value (determined by expert evaluation) and the material value, i.e. the value of the building materials.
With the income method, the income from the economic use (e.g. rental income) is taken into consideration. Therefore, the rental index is considered when determining the price.
The value comparison method can only be used in localities with similar properties (e.g. condominiums on the street) being sold at regular intervals.
Many special features are only visible upon closer inspection of the property being evaluated. Under certain circumstances there are features which could significantly reduce or increase the market value of the property. Do not rely on ignorance as that will not protect you from any reclamation.
Of course, with our real estate appraisals we strive to make the best possible market value evaluation of your property. This of course will be under scrutiny by the buyer’s financing bank. If you wish to have any further information on this subject of “property evaluation”, please don’t hesitate to contact us. We are very happy to advise you.
VENT-Immobilien Bad Saarow
Fürstenwalder Chaussee 3b
D-15526 Bad Saarow