The process of updating the value

A value update is the process of bringing the value of a property or property portfolio up to date. Given the dynamic real estate market in Essen, this is crucial in order to obtain an accurate assessment of the current market value. Market developments, changes in the surrounding area, the condition of the property and legal changes are all taken into account.

Why is a value update important?

In Essen, a value update is crucial for owners, investors, banks and insurance companies. It serves to determine the current market value for sale, purchase, refinancing or insurance purposes. An up-to-date valuation is also necessary for accounting and tax purposes to ensure a realistic assessment of the assets.

Procedure for the preparation of a value update

The preparation of a value update in Essen requires a detailed market analysis and consideration of current trends in the real estate market. Experts assess the property based on its location, size, condition and features and compare it with similar properties on the market. They also examine whether there have been any significant changes in the surrounding area or to the property itself since the last valuation.

Document requirements for the value update

Various documents are required to carry out a value update in Essen: the last valuation report, current land register extracts, dimensioned floor plans if construction work has taken place, building descriptions, information on renovations or modernizations, rental agreements and energy performance certificates. This information is necessary to determine the property value accurately and in line with the market.

Who can carry out a value update in Essen?

In Essen, value updates should be carried out by certified real estate experts or qualified real estate valuers. These experts have extensive knowledge of the Berlin real estate market and are familiar with the latest valuation methods. Their qualifications and experience ensure an objective valuation in line with the market.