Appraisal is one of the main steps for a landlord who intends to sell a property.
Price volatility
Real estate prices are variable and it is very difficult to set an appropriate price to get the highest benefit of it. Properties were bought at a price may have changed by adding other factors, such as the development of the area, possible restorations, etc. That is why it is possible that very similar apartments in the same area can have very different values.
It is important to emphasize that with the appraisal we obtain an approximate optimum selling price under the ECO 805-2003 regulation. Anyway, the value can be changed up or down freely; everything depends on the owner, at the end it is going to be the buyer who decides to pay that price or not.
Cases with mandatory appraisal
There are some circumstances where pricing is an essential step. Some of these examples may be inheritance, where you have to sell the property and distribute the value among the beneficiaries, or divorces, where in the same way must distribute the money in an equitable way. In cases like these the document requires legal validity.
In these types of situations, it is important to make an appraisal at a date close to the case resolution, since the price of real estate is always in constant evolution, so that the set value may become obsolete quickly.
Appraisal process
Even if everyone can make an appraisal, only experts and professionals can analyse each case in depth, to fit reality. These experts are none other than architects or technicians.
The appraisal method is relatively simple; the architect must contrast the property deed information with the reality, by making a visit to the house, checking the status of it, also internal and external details that can change its value. In addition, the appraiser must also check at least six bids or offers of the same calibre, the real estate market evolution and, of course, the prices of the area.
Other factors that will alter the result of the appraisal are; the year of construction, the state of conservation, the energy efficiency certificate, the one we have spoken in other publications, the expenses that will appear to sell the house, the area in which is located, the services offered within the building, etc.
A real estate professional appraisal service moves around 400€ on average, although it is advisable to get several, to get a reality with more perspectives.
Juli Alsinet Hernando || Barcelona