Property Appraisal Report

What is an appraisal

According to Wikipedia, an appraisal is an estimate of the value of a property. That’s true in a general sense, however, an appraisal is really an argumented calculation of the market value of a house or apartment. It is based on a number of objective things that are weighed and valued. So there is a price tag attached. If, for example, we see in practice that a corner house yields € 10,000 more than a townhouse, it is because there is more land, or because the corner house has a garage and a townhouse does not.

In an appraisal report there is no room for subjective elements. A house with a beautiful kitchen does fetch more than a house with an ugly kitchen, but what is beautiful and what is ugly. Now you immediately feel the difference between market VALUE and market PRICE. Value can be calculated and price is what one is willing to pay for it. So if you like the kitchen, you will want to pay more for the house than someone who finds the kitchen ugly, but that has no effect on the value.

What does an appraisal cost?

The price of an appraisal varies. At Anderz estate agent we don’t make it difficult. A standard appraisal costs € 795,- including VAT and a special appraisal, or an appraisal for a house larger than 200m2 is € 895,- With a special appraisal we mean an appraisal with a value before and after renovation, an appraisal of a property that is yet to be built, or if there are special circumstances.

Is an appraisal necessary?

There are many reasons to think that you would need an appraisal. Such as a buying decision, a selling decision or the transfer of your mortgage. However, an appraisal of a house in Groningen is not always necessary. Because an appraisal of a house will always be worked out in a report and there are costs involved. Sometimes a valuation is sufficient so that other steps can be taken before proceeding to an appraisal or other action such as selling.

What is NWWI, validation?

The NWWI is an institution that acts as an intermediary between the appraiser and the bank. The institute examines whether the appraiser meets all requirements and also assesses the appraisal report for accuracy and correctness. You can easily see it as a seal of warranty. Is it a NWWI appraiser, then he knows what he must do and is it a NWWI report then you know for sure that the bank will accept the information in the report as objective information on the basis of which the bank assesses whether you can get a mortgage.

Want to request an appraisal or more information? We will arrange it for you. Request it by using the button below. We will contact you.