TÜV NORD carries out detailed market valuations for developed and undeveloped plots. For this, each property is inspected and the building materials visually assessed. Based on internal observations, research and written documents on the property, the property is inspected and assessed with respect to its value-influencing properties as well as against the background of the respective real estate market. Our customers receive a detailed written appraisal describing the relevant characteristics of the property and giving the reasons for the valuations.
The valuation is carried out taking the valuation guideline and the valuation ordinance as well as the definition of the market value as per §194 of the German Federal building code into account. Depending on the type of property, the concrete valuation is generally carried out based on the comparison of two valuation methods. The mortgageable market value is derived for the customer from this comparison of the selected methods.
- Property value method
- Earning capacity method
- Comparative value method
In principle, we assume the proper functioning of the technical facilities and that the property complies with building regulations and planning permission. Further inspections of the assumptions made regarding the property are only carried out if there is concrete doubt. For the valuation, we require current excerpts from the land register map, the land register, the land charges register, area measurements, rental contracts, declarations of partition, leaseholds, etc..