Services Elise  29 juli 2022

What is the difference between a valuation and an appraisal?

What is a value appraisal?

With a free appraisal, a real estate agent comes to your home to look at the house. Together with the agent, you take a tour of the house and go over the details. The value of your home is based on (local) house prices, the plot and living space, the environment in which your home is located and the condition of your home. In addition, we look for special features, such as any architectural defects, a last paint job or renovations.

An appraisal is completely free of obligations and you are not tied to anything. However, you cannot use an appraisal to obtain a new mortgage, to value property for an inheritance or to pass on the value to the notary/lawyer during a divorce. For this, you need to have an appraisal carried out.

What is an appraisal?

When you want to buy a house, you might need a mortgage. To get the mortgage fully arranged, you need a validated appraisal report. Before granting a mortgage, the bank or any other lender wants to know the value of your home. And whether that is in proportion to the mortgage amount required. During an appraisal, one of our expert appraisers will visit your home to determine its market value. The property is examined in more detail, photos are taken and the broker searches for information from the land register at the office. With flats, he needs all the documents from the Owners' Association, etc.

With an appraisal, therefore, much more documentation is required to arrive at a correct value and therefore the report is also quite extensive. The report is therefore not only based on the location, the content, the plot and living area, the architectural qualities and the cadastral data. After the appraiser has drawn up his report, it is sent to the validation institute. There, the report is checked in detail. If the report is approved, the institute approves the report, after which it is often e-mailed directly to you as a client, but also directly to the mortgage provider.

Other situations for which a valuation report might be necessary are: for a tax assessment, an inheritance, an objection against the WOZ value or a divorce.

What do you have to take into account with an appraisal report?
- The valuation report must be recent, maximum six months.
- It must be an official valuation report, not a copy.
- The valuation report must be validated by a validation institute-
The valuation report must be done by an independent valuer-
The valuation report must have an official signature.

When is an appraisal done when selling a property?

After the sales agreement has been signed, the valuation is often carried out. The seller and the buyer have agreed on the purchase price of the property and an appraiser needs a signed sales agreement to be able to add this to his appraisal report. Once the buyer needs a mortgage, his or her lender will ask for a validated valuation report. We recommend that, after agreement, the valuation be carried out as quickly as possible! %26nbsp;

What is the difference between an appraisal and a value appraisal?

The big difference is that a value appraisal is always free of charge, whereas there are costs associated with a valuation. In addition, the advice of a value appraisal is without obligation and no rights can be derived from it.

A valuation report is an official report and binding. There are certain requirements and checked by a validation institute (NWWI), this is not the case with a valuation. The most important thing is that you can apply for a mortgage, refinance or increase your mortgage with a valuation report. With the advice report of a value appraisal, this is not possible and they only look at the value of your house.

What does an appraisal cost?

The cost of a valuation differs between a house or a flat and with or without renovation.

Valuation costs
:Apartment valuation without renovation € 799,- incl. VATApproval
flat with renovation € 899,- incl. VATTaxation
house without renovation € 749,- incl. VATTaxation
house with renovation € 849,- incl. VAT

Are you curious about the value of your house? We will be happy to plan a no-obligation valuation at your home. We will take the time to answer all your questions. We understand very well that your 'home' is invaluable and that you want to see the asking price as high as possible. We will make the most of it for you!

Do you need an official valuation report? Then we can also help you further, feel free to contact us! We are located in Den Bosch, Helmond and Eindhoven. We are allowed to conduct appraisals within a 20 km radius from our office.

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