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Without a professional opinion, many owners overestimate the market value of their property. This is understandable, as many of them are not merely selling an object, but a home, in which they not only put a lot of money and working hours, but also passion. However, if you want to sell your property, emotions are rather obstructive, as the market value of an object is strongly buyer-oriented. The decisive factor is not the owner’s subjective opinion on their property’s market value. At the end of the day, the property’s selling price is determined by whatever the buyer is ready to pay for it. Disregarding this, in any case, will lead to failure.
To save you from miscalculations, we warmly recommend you to have your property professionally assessed before selling. An expert opinion will provide you with a realistic estimation on how much your property is worth, and you can feel well prepared for any upcoming price negotiations.
A reliable way to find out about your property’s real market value is putting an expert in charge. A real estate valuer implements a systematic analysis of your property using a variety of methods for a professional value assessment.
There are basically three different factors that determine your property’s market value: We distinguish asset value method, comparative value method and net income value method (also ‘income approach’):
Principally, a professional valuation report is also most appropriate when it comes to clarifying questions of ownership. In case of a divorce for example, where a division of family assets is often inevitable, a valuation report can be of great support. Also within a community of heirs, a valuation report is highly recommended. In the case that a testament specifies multiple individuals as beneficiaries, a valuation report will help to determine each one’s share. However, there are more situations apart from divorce and questions of inheritance in which a professional valuation report can be a great asset. Apart from determining the best possible market price for your property, a valuation report frequently is a necessity for documenting your property‘s market value to insurance, as it is in matters of forced sales or legal disputes.
However, mostly you do not need a written statement. Furthermore, a real estate valuer means another monetary investment. How much an expert charges you depends on the overall value of your property. For an object that is worth about 400.000 Euro, you might be charged 1.500 Euro -2000 Euro. For a full property inspection report, a report that can be used in court, the owner usually pays a lot more. So, unless you explicitly require a report of such kind, it is recommended to go for a cheaper alternative.
A good estate agent does not only take over the marketing of your property, but also supports you in estimating the market value and determining the selling price. A lot of estate agents will assess your object for free if they get the chance to advertise your property afterwards. Estate agents are up-to-date regarding the current property market. For a property valuation, the estate agent will do an onsite inspection and compare your object to other similar objects in terms of location and features. Usually, the market value that is estimated by the estate agent is a close match to the actual market value.
But be careful: To be entrusted, many nonserious estate agents attract potential clients by making utopic promises regarding profit. In contrast, others set the price too low to sell off as quickly as possible. We can help you to compare estate agents and find a qualified professional agent that is the best fit to you and your object. Click here to find out how you can use Homeday to find a matching estate agent.
To get a first impression on how much your property is worth, you can use our free Online – property valuation service. We estimate the market value of your property using data from our pool of over 7 million objects of comparison. You will receive your results shortly via Email. Just enter your object type, size and construction year, as well as address details of your property. Our free Online – property valuation service will be a great asset to you in determining your object’s selling price. Also will it be a good starting point for any future price negotiations.
Instructions for using the property value calculator: Assessing flats and houses online will provide you with a good orientation on how much your object is worth. However, every object is different from the other. So, if you wish to get a binding assessment on your property’s market value, putting a professional real estate valuer in charge who does an onsite inspection, is the way to go.