Each year, the value of all real estate in Amsterdam is assessed according to the Valuation of Immovable Property Act
A valuation - the most objective possible appraisal of a property’s value - can be the first step towards the sale. Of course, your estate agent can make a good estimate of the realistic value (for sale) of your home. In some cases, it can be useful to have the valuation appraised by a property valuer, For instance, when valuing a property for sale that belongs to a shared inheritance.
Property valuation for a mortgage
A valuation is also needed when applying for a mortgage. Lenders require this valuation to be carried out by an approved valuer to establish the correct loan-to-value ratio.
It is possible that different valuers will arrive at different results, because a valuation is an expert estimate of the value of your property and estimates can, of course, differ.
Two types of valuation
There are two types of valuation. A validated valuation and an unvalidated valuation.
A validated valuation is needed for applying for mortgage. For other matters, for example to establish the value of a property or to appeal against a WOZ (valuation of property under the Dutch Real Estate Valuation Act) assessment, an unvalidated valuation is sufficient.
How to go about valuation
You can apply for a valuation of your property with the help of your estate agent. Please note that a valuation does not include a structural survey.
A valuer will take the following into account when valuing your home:
- Location and surroundings
- Zoning plan
- Condition
- Content and surface area
- Functional layout
- Construction and materials used, as well as the quality of the finish
- Insulation and energy efficiency
- Rights and encumbrances, such as right-of-way and long-term land lease
- Market conditions
