When you need an apartment valuation
- selling or buying
- a mortgage, because the bank requires a valuation of the apartment it takes as security
- inheritance, divorce and division of property
- court proceedings
- real estate transfer tax
What determines the value of an apartment
Neighbourhood and view, floor and lift, size and layout, terraces, condition and furnishing, age of the building, parking or garage, as well as whether the apartment is registered in the cadastre.
How the valuation works
- You send the basic details: type, size and location.
- During the site visit, the appraiser photographs the apartment and reviews the documents.
- After a detailed analysis of the market and comparable data, you receive a written report with a reasoned value.
What to prepare
Title deed extract (list nepokretnosti), purchase contract and floor plan.
FAQ
How is the value per square metre calculated?
The value per square metre of an apartment can be determined in several ways, i.e. methods. The most commonly used is the comparative method, which arrives at the market value on the basis of comparable data. Many attributes affect an apartment's value, which is why two apartments of the same size in the same building can be worth different amounts.
Do I need a valuation if I already have a buyer?
If you want the value to be fair, yes.
Do I need a valuation if the sale contract states the price of the apartment and I want to pay transfer tax on that price?
Yes, because the agreed (and probably already paid) price of the apartment does not necessarily mean that it is the market value. Real estate transfer tax is paid on the market value of the property at the time the contract is concluded.
How long does it take to prepare an apartment valuation report?
The report can be done within a day or two after the site visit and photographing the apartment.