
Why you need a professional valuation
When no one had shown interest after almost two months, Karl T. contacted us. He explained what he had done and wanted to know why no one had responded to his ad. "Is there something wrong with my property? Demand for real estate remains high despite the coronavirus pandemic," he said.
The emotional value
When we looked at his listing, we immediately noticed the high price. We only knew his property from photos, but his asking price was clearly too high. Karl T. was very surprised. Emotions and memories played a major role in his asking price. After all, he had spent most of his life in the property. When we explained to him what a professional property valuation involves and that we would be happy to value his property free of charge, he agreed to an on-site viewing.
The real value
The property was very well maintained and had been renovated just a few years ago. There were hardly any defects. The location was also ideal for families. We took a close look at the documents: How big is the plot and how much living and usable space is there? Was there a right of residence encumbering the property? All of this was taken into account in our valuation. As the property had several extensions, it was too unique to be valued using the comparative value method. We therefore determined the value using the asset value method. We then proposed a suitable marketing strategy to him.
As the property had been on the market for almost two months, it was already known to property seekers. Such cases can be problematic. Prospective buyers become skeptical when a property is offered at a lower price after some time. They then wonder whether there is something wrong with the property. Here, too, we recommended a suitable strategy for dealing with prospective buyers. After Karl T. was convinced by our expertise, he commissioned us to sell his house. We took care of the marketing and handled the viewings. Two months later, the property was sold. After signing the purchase agreement, a happy Karl T. told us: "I wish I had had my little house professionally valued right away!"
Would you like to know how much your property is worth? Contact us! We will be happy to advise you.
Further information can be found here:
- https://www.bmi.bund.de/DE/themen/bauen-wohnen/stadt-wohnen/wertermittlung/wertermittlung-artikel.html
- https://de.wikipedia.org/wiki/Wertermittlung
- https://de.wikipedia.org/wiki/Sachwertverfahren
Notes
For reasons of readability, the generic masculine form is used in this text. Female and other gender identities are expressly included where necessary for the meaning of the text.
Legal notice: This article does not constitute tax or legal advice in individual cases. Please consult a lawyer and/or tax advisor to clarify the facts of your specific case.
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