Why is an appraisal report so expensive? That’s a question we as realtors often get. So we’re happy to tell you a little more about it. The fact that an appraisal report is so expensive is because there are 4 main cost items included in the price: the validation fee for the NWWI, the purchase of a mandatory soil report, the cost of the appraisal software and VAT.
On a €695 report, that leaves €471.04 for the appraiser and all his other operating expenses (fuel, office, staff, etc). Each appraisal report is approximately 4-5 hours of work including recording all details. In addition, the appraiser must have proper liability insurance, as he remains liable for the report issued for 20 years.
Model valuation report 2021
As of October 1, 2021, appraisal reports have become a lot more comprehensive, mainly because they include an extensive architectural recording. All appraisers have also had to take another continuing education course for this and take another exam. The extra additions compared to the old model valuation report mean that more time has gone into the elaboration of the valuation report. This explains a more expensive appraisal report as of October 1, 2021.
I found a cheaper appraiser through the internet. Why should I choose a more expensive appraiser?
Quite simply, quality costs money. Virtually all requests for an appraisal report have a direct link to high sums of money. Whether it’s a house you bought for a few hundred thousand euros, buying out an ex-partner, a bridge mortgage or a new mortgage that gives you a substantial reduction in your monthly expenses.
There are unfortunately a number of ‘fast guys’ running around who have developed a revenue model that equates to doing as many appraisals as possible in 1 day . Speed always comes at the expense of quality. A good appraiser will take ample time to develop a quality appraisal report that your lender can really get a good handle on. The report is complete, well-researched and also quickly developed.
Do you need a certified appraisal report or need more information? Call or email VK Makelaars&Taxateurs or read more about appraisal Haarlem and appraisal Haarlem area here.