Finding the right price for your inherited property
Valuing an inherited property is often a challenge - especially when emotional values play a role. A price that is set too high deters potential buyers, while a price that is too low gives money away. But sometimes a low starting price can even bring advantages.
Why a low price can increase demand
A deliberately lower price can significantly increase demand and thus speed up the sales process. With more interested parties, new opportunities open up for the seller, such as a bidding process. Buyers often push the price above the original market value because nobody wants to lose the property to other interested parties. This strategy is particularly worthwhile if it is accompanied by a property expert.
Professional evaluation by an expert
The support of a property expert is essential to determine the optimum sales price. Experts take into account local market factors, current price dynamics and use proven valuation methods. This gives you a realistic estimate and maximises your sales proceeds.
The most important criteria for property valuation
The value of a property is determined by many factors, including
- Location and plot size
- Proportion of common areas
- Living space and furnishing standard
- Year of construction and renovations carried out
- Market situation and special features
Overview of valuation methods
There are three common methods for property valuation:
- Comparative value method: Used for undeveloped land and condominiums when there are many comparable properties.
- Asset value method: Suitable for detached houses without comparable properties.
- Income capitalisation approach: Used for apartment blocks and commercial properties where the focus is on returns.
Online ratings as initial orientation
Online valuation tools can provide average values and price ranges, but are only suitable as a rough guide. As these tools cannot take all individual properties into account, an on-site assessment by a local market expert is essential.
Request a property valuation now
Robert Schüßler
Property valuer (EIA and IHK)
Note: This text is for information purposes only and does not constitute legal or tax advice. Please consult an expert if you have individual questions.
