A professional property valuation offers the following benefits:

1. Accurate estimate of market value: An experienced estate agent or surveyor can accurately determine the current market value of your property by taking into account various factors such as location, age, size and condition.
2. Transparency and credibility: An independent and objective valuation can help all parties involved to trust the price estimate and make a better decision.
3. Support with financing and sales: A professional valuation can be beneficial in financing or sales processes by documenting the value of the property for banks, buyers and sellers.

A professional property valuation is usually carried out as follows:

1. Research and on-site inspection: The valuer collects information about the property such as size, age, condition, location and similar characteristics. This includes an inspection of the property, during which the agent or valuer inspects the property and takes photographs.
2. Comparison of sales data: Data on comparable properties in the area that have recently sold is analysed. This information is used to provide an initial estimate of the value of the property.
3. Valuation in accordance with the Property Valuation Ordinance (ImmoWertV): There are three different valuation methods. The comparative value method, the income capitalisation method (also known as the income approach) and the asset value method (also known as the net asset value method). These are used to obtain an accurate estimate of the market value.
4. Report preparation: At the end, a detailed report is prepared describing the market value of the property, the methods used and the valuation criteria.

ImmoWertV (Property Valuation Ordinance) is an ordinance issued by the Federal Ministry of Finance. The ImmoWertV sets out the rules for property valuation. Specifically, this document states how a professional property valuation must be carried out, which methods and procedures may be used and what requirements are placed on the valuers. The ImmoWertV serves to increase the transparency and credibility of a property valuation and to ensure that all valuers work according to the same rules and procedures. This enables buyers, sellers and financial institutions to make decisions on a sound and reliable basis. The ImmoWertV applies to all types of property, including residential property, commercial property and agricultural land. It is part of the German Building Code and has been in force since 1st January 2022.