Why is a professional valuation essential for a successful real estate sale?

When Karl T. wanted to sell his property after almost 40 years, he naturally already had a rough idea of its value. On the one hand, he still knew exactly how much it had cost at the time and on the other hand, he has always followed the price trends of recent years on the real estate market. So he offered his property at the price he just thought was reasonable. When, despite the high demand, no interested parties came forward after weeks, his perplexity was great. Although the real estate was still very well in shot, it wanted to buy simply none.

Since also after nearly two months no prospective customer announced itself, Karl T. turned to the VON POLL IMMOBILIEN office Bayreuth. He explained to us how he had arrived at his asking price and wanted to know why his advertisement was not having the desired effect. "Is there something wrong with my property? The demand for real estate is unabated despite Corona, isn't it?" he asked. But the underlying problem is not demand that may have been affected by the pandemic. With the value determination of a real estate the emotional value must be clearly distinguished from the real value!

The emotional value

Although we knew its real estate up to that time only by the photos from the advertisement, the too highly set price struck us immediately. Karl T. was at first very surprised about our fast problem recognition. But emotions and memories played a big role in his asking price. Understandably, after all, he had spent most of his life in this property. When we explained to him what really matters in a professional real estate appraisal and how many factors there actually are to consider, he quickly realized that a private sale involves a rocky road. When he learned about our service for a professional market price assessment, he asked us to do one at his place.

The real value

The property was very well maintained and the last renovation was only a few years ago. There were hardly any real defects and the location was optimal for families. While we took a closer look at the documents at hand, we paid preferential attention to the following: How large is the property and how large is the living and usable area? Does a residential right encumber the property? What is the land value in this area? Is the property located on a main road with heavy traffic? All these values were included in our valuation. Since the property had several annexes, it was too individual to be valued using the comparative value method. We therefore determined the value using the asset value method. When we suggested a suitable marketing strategy to him afterwards, he agreed to this immediately.

Since the real estate stood already nearly two months for the sales, it was already well-known with real estate searchers. Such cases can quickly become problematic, because many prospective buyers become skeptical when a property is offered at a lower price after some time. They then wonder whether the reason for the sudden price reduction is a defect in the property. After Karl T. had convinced himself of our expertise, he commissioned us to sell his house. We took care of the marketing and took over the inspection management. Two months later, the property was sold. After signing the purchase contract, a happy Karl T. told us:

"If only I'd had my little house professionally appraised by VON POLL IMMOBILIEN right away!"

You intend to sell your property? The team of VON POLL IMMOBILIEN Bayreuth office with its real estate agents (IHK) and the office owner Mark Beyer, Certified Independent Expert for Real Estate Valuation (PersCert®), will provide you with a professional market price assessment as well as a customized marketing strategy for your property.

You are also welcome to use our online property valuation:

Find more information 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

Notices

Legal notice: This article does not constitute tax or legal advice in individual cases. Please have the facts in your specific individual case clarified by a lawyer and/or tax advisor.

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