Documents & process of a real estate valuation

Would you like to have your property valued and are wondering how much effort is involved? The short answer: less than you probably think. On this page you will find the typical process of a property valuation, the documents that are helpful for each type of property, and an overview of the costs.

Process

The process of a real estate valuation

As it is in the nature of things that every valuation is different, only a typical valuation process can be shown here:

Initial contact and clarification
Together we clarify the purpose of the valuation, the property, the costs and the documents required, and arrange a date for the inspection.
On-site inspection
Detailed inspection of the property; on average this takes about one hour.
Preparation of the report
The market value report is prepared in the office and usually sent electronically together with the fee note.

Documents

Helpful documents by type of property

Which documents are helpful for the valuation depends on the type of property. The following overviews are for your guidance — missing documents are no obstacle to commissioning a report.

Condominium apartment

Floor plan of the apartment (building permit plan or as-built plan)
Property management documents: current service charge statement, most recent service charge and reserve fund accounts, forecast of future repairs
Outstanding loans of the owners’ association (if any)
Usable-value appraisal (Nutzwertgutachten) and/or condominium agreement
Any tenancy agreement
For court assignments: inspection of the building file / building permit / notice of completion

Apartment building (Zinshaus)

Rent roll
Possibly a conversation with the property management
Possibly tenancy agreements (usually standard-form agreements)
Plans of the property (possibly inspection of the building file)

Single-family house

Approved building permit plan of the house
Plans of the most recent alterations
Notice of completion
Any tenancy agreement
For court assignments: inspection of the building file / building permit / notice of completion

Commercial properties

As-built or building permit plan of the property
Notice of completion or occupancy permit
Operating facility permit (if required)
Decision of the trade authority
Fire safety inspection
Tenancy agreements (if any)
Business documents (e.g. for hotels)

Missing documents are no obstacleIf you are missing individual documents, that is not a problem: much can be recorded directly during the inspection, and as a sworn court expert I can inspect documents at building authorities and property management companies myself. You are welcome to send me documents in advance by email.

Costs

Costs of a real estate valuation

In court proceedings

In court proceedings, the costs are governed by the Austrian Act on Entitlement to Fees (Gebührenanspruchsgesetz) (opens in a new tab). Put simply, the costs are charged either on the basis of the value of the property (§ 51) or on an hourly basis (§ 34 — fee for services rendered), plus out-of-pocket expenses.

For private assignments

For private assignments, the fee is in principle freely negotiable and is usually based on the complexity of the assignment, the time involved and the value of the property. The costs can be agreed in advance as a fixed price.

You will find specific hourly rates and further answers in the frequently asked questions