Is a valuation required when buying a house?
A property valuation is required whenever you buy a house with a mortgage in the Netherlands. Here is when you need one and why it matters.
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A property valuation is required whenever you buy a house with a mortgage in the Netherlands. The mortgage lender insists on an independent, validated appraisal so it knows the home is worth what you want to borrow. If you pay for the entire purchase yourself, without a mortgage, an appraisal is not compulsory.
Why a valuation is needed when buying
When you decide to buy a property and finance it with a mortgage, the lender requires an appraisal carried out by a certified, independent appraiser. This is because the home is the collateral for the loan, and the bank does not want to lend more than the property is worth.
Even beyond the lender's requirement, a valuation gives you real advantages:
- Objective value — the report gives an independent, objective valuation of the property.
- Clarity — you know the actual value of the home before you commit.
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What does the appraiser look at?
A qualified appraiser inspects the home and assesses, among other things:
- The current condition of the property
- The size of the property
- The location and the surrounding neighbourhood
- Any special features or characteristics
- Recently sold comparable properties nearby
Based on these points, the appraiser draws up a report stating the value of the property.
How the valuation affects your maximum mortgage
The valuation has a major impact on how much you can borrow. The validated appraised value determines the maximum a lender will provide, because the bank will not lend more than the home is worth. If the appraised value is lower than the purchase price, you have to make up the difference with your own money.
Example calculation:
| Item | Value |
|---|---|
| House purchase price | € 500,000 |
| Appraised value | € 460,000 |
| Maximum mortgage | € 460,000 |
| Additional equity required | € 40,000 |
Read more about how the appraisal feeds into your maximum mortgage.
Extra costs: disbursements
Sometimes the appraiser needs extra information that is charged on top of the basic fee, known as disbursements. The standard valuation models do not always capture everything that affects a home's value, such as:
- Changes in municipal or provincial policy
- Changes to the zoning plan
- Exemptions or other special circumstances
This information is requested from the municipality and the Land Registry (Kadaster), and the cost varies per municipality. The appraiser also checks that the seller is actually the owner and has the right to sell.
It is required whenever you buy with a mortgage, because the lender needs a validated appraisal. If you buy without a mortgage, a valuation is not compulsory.
No. A valuation determines the home's market value for the mortgage. A technical inspection checks the physical condition for hidden defects and is not compulsory.
Your maximum mortgage is capped at the appraised value, so you have to cover the difference between the price and the appraisal with your own savings.
Need a valuation for your purchase? Compare appraisers and request a property valuation.