Learn the difference between an official appraisal report and an estimated value, and the importance of each option.

Appraising a house means determining the market value of a property. There are various reasons to have a house appraised, such as selling or buying a house. An official house appraisal means that the appraisal report can also be used to obtain a mortgage. However, house appraisal can also have an informal aspect with our online tool 'What is my house worth?' This tool provides insight into the estimated value of the property, although it is not an official home appraisal. We are here to provide you with more information about everything related to house appraisal, including important factors affecting property value and the reasons for having a house appraised.

How does house appraisal work?

Home appraisal involves determining the value of your house, and several factors come into play. The appraiser considers factors such as the type of house, its location, the surrounding area, and available amenities. The condition of the house, as well as its size and square footage, also play a role. Additionally, the appraiser evaluates the construction type, quality of materials used, insulation, and any other energy-saving measures. The appraiser may also use cadastral data and, if available, building plans. All of this information combined determines the value of the property, and the appraiser then creates an official appraisal report based on these data.

House Appraisal for Obtaining a Mortgage

Getting a house appraised is necessary to secure a mortgage. If you've made an offer on a property and are planning to apply for a mortgage, the lender will typically require an appraisal report of the property. The amount of the mortgage you qualify for depends on several factors, including your income, financial situation, and the appraised value of the property. It's essential that there's minimal difference between the appraised value and the purchase price because you can typically finance up to 100% of the market value with a mortgage. If you're buying a house and need a house appraisal for a mortgage, Amstelland Makelaars can guide you through the purchase process and arrange for an independent expert to conduct the appraisal. It's worth noting that for mortgages on new construction homes, a house appraisal is usually not required.

Determining Property Value for Setting the Asking Price

As experienced real estate agents in Amsterdam, we often get requests to determine the value of a property when it comes to selling a house. With our extensive knowledge of the market, we can provide you with a realistic estimate of the potential selling price. We'll work with you to develop a sales strategy and set a competitive asking price. Having your house appraised by our experienced agents ensures that you know the exact market value of your property.

House Appraisal for Challenging the WOZ Value

Another reason for house appraisal is to challenge the assessed WOZ (Wet Waardering Onroerende Zaken) value. If you believe that the municipal tax assessment of your property's value is too high, you can file an objection with the municipality. To strengthen your case, it's advisable to include an independent appraisal report conducted by a certified appraiser. Including comparable properties in the report can further bolster your case. While there are costs associated with obtaining an appraisal report, you may be eligible for a reimbursement if your objection is successful.

Costs of an Official Appraisal Report

When you need an official appraisal report to secure a mortgage, various costs are involved. These costs include the appraiser's fee, cadastre costs, and municipal fees. The fee for a validated report is also part of the total price. Additionally, value-added tax (VAT) applies to the overall cost of house appraisal. Depending on the property type, such as an apartment, there may be additional charges, such as a measurement report.

You can deduct the costs of house appraisal from your income tax when purchasing a home. For official appraisals required for a mortgage with the National Mortgage Guarantee (NHG), it's crucial to obtain an appraisal validated by the NWWI (Nederlands Woning Waarde Instituut). Many lenders now require NWWI validation for appraisal reports. NWWI is recognized by the Dutch Homeowners' Guarantee Fund (Stichting Waarborgfonds Eigen Woningen) as a validation institute. This ensures that appraisal reports are conducted objectively and reliably.

If you have any questions regarding house appraisal or if you're looking to buy or sell a house with the assistance of one of our agents, please feel free to contact Amstelland Makelaars.






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