A valuation report is a report prepared by an appraiser after the appraiser has visited and assessed the property in the Netherlands. The appraisal report describes the value of the property. The report describes the value of the property, as well as problems that may arise and important points that may affect the value of the property. Generally, the appraisal report is used when buying the property to determine the value of the mortgage. In addition, engaging an appraiser is useful when you want to change your mortgage rate.
The cost of a valuation report
An NWWI valuation report is mandatory with many parties when you need to have a valuation carried out. In addition, a valuation report’s cost depends on the property type. For an appraiser, one report is more work than another. In general, the cost of a valuation report ranges from €500 to €800 throughout the Netherlands. This does refer to a standard valuation report. The types of homes listed below have varying valuation report prices:
- For a newly built house
- A flat
- Partly residential and partly commercial property
- Properties larger than 200 m2
How long is a valuation report valid?
The validity of a valuation report depends on the lender. Several lenders have a maximum validity period of 6 months. Other lenders have a maximum validity of only 3 months.
What does the valuation report say?
When an appraiser prepares the valuation report, several mandatory items come with the valuation report:
- The location and environmental factors of the house
- The current condition of the property (inside and outside)
- The contents and surface area of the house
- The layout of the house
- Update the current zoning plan
- Check with land registry data
- Value of the property
Why a validated valuation report?
A validated valuation report is required by many mortgage lenders. Here, the validated report is validated by an institute. The task of such institutes is to combat mortgage and/or valuation fraud. In the Netherlands, the Netherlands Register of Real Estate Appraisers ensures that the quality of a validation institute meets all set standards. The NWWI is an institute affiliated with the NRVT. For this reason, all banks require the valuation report to comply with the NWWI. HuisAssist only cooperates with appraisers who produce NWWI-validated reports.
Reasons for a valuation report
There are several reasons why a valuation report is needed. In most cases, it is a report that needs to be shown to the lender. The reasons for a validated valuation report are:
- When buying a house
- When refinancing a mortgage
- When increasing the mortgage for a renovation or conservation project
- In divorce to divide assets fairly
- To value the assets for the tax authorities, for example
- After a renovation to find out the reconstruction value
- In case of an objection to the WOZ value
Find a suitable appraiser
It is useful to compare different appraisers to find a suitable appraiser near you. At HuisAssist you will always receive the 3 best options for a validated NWWI valuation report. You choose whether you want to work with an appraiser and you know exactly how expensive the appraiser is.
