Expert opinion

Expert appraisal (also known as an expert opinion) is a written, professionally substantiated evaluation of a property by a publicly appointed and sworn or certified appraiser. It has legal evidentiary value in court, with government agencies, and at banks, and serves as the most reliable basis for decisions regarding purchase, sale, or inheritance.

Types of Real Estate Appraisals

Depending on the purpose and level of detail, different types of appraisals are distinguished:

Market Value Appraisal (Full Appraisal): The most comprehensive appraisal under Section 194 of the German Building Code (BauGB). It determines the market value of the property based on the comparative value, income value, or cost value methods. Length: 30-80 pages, Cost: starting at approx. 1,500 euros.

Short appraisal: Less detailed, but sufficient for private purchase decisions or estate settlements. Cost: starting at approx. 500 euros.

Mortgage Lending Value Appraisal: Prepared by the bank or its appraiser to determine the mortgage lending value as the basis for granting a loan. This is usually set 10-20% below market value.

Damage appraisal: Focuses on construction defects, moisture damage, or damage following severe weather events-relevant for insurance claims and warranty claims.

Appraisal type	Purpose	Typical costs
Full appraisal	Court, inheritance, divorce	starting at €1,500
Short appraisal	Private purchase/sale	starting at €500
Mortgage appraisal	Bank loan	issued by the bank
Damage appraisal	Insurance, defects	starting at €300

Qualifications of the appraiser

Not everyone is allowed to call themselves an “appraiser.” For real estate, the following qualifications are relevant:

• Publicly Appointed and Sworn Expert (ö.b.u.v.): Highest qualification level, appointed by the Chamber of Industry and Commerce (IHK) or the Chamber of Architects. Appraisals have full evidentiary value in court.
• Certified Expert (DIN EN ISO 17024): Standardized certification, e.g., by TÜV, DEKRA, or HypZert.
• Appraisal Committees: Governmental bodies located in Bavaria at the district offices and independent cities. They maintain the official purchase price database and establish standard land values.

Expert Appraisal vs. Broker’s Valuation: Understanding the Differences

In practice, two types of real estate valuations are often confused:

The broker’s market value analysis is a free estimate based on current comparable properties and market data. It provides a good initial guide for the asking price but is not a legally binding appraisal. Banks, tax offices, and courts do not accept it as proof of the property’s value.

The expert appraisal by a certified appraiser, on the other hand, meets the requirements of the Real Estate Valuation Ordinance (ImmoWertV), is documented in a methodologically transparent manner, and has legal evidentiary value. It is required in inheritance disputes, divorce settlements, foreclosures, for tax documentation purposes (§ 198 BewG), and in court proceedings.

Practical Tip for Property Owners in Nuremberg and Franconia

We recommend an expert appraisal particularly in the following situations: in cases of inheritance with multiple heirs, divorces, tax optimization, or if you need a realistic asking price for the sale. In Nuremberg, the Appraisal Committee for Property Values is located at the City Surveying Office (Real Estate Management Department). There, you can also access the current standard land values for every district in Nuremberg.

For a quick initial assessment, we as real estate agents offer a free market value analysis-while this does not replace a legally binding appraisal, it provides a reliable guide. If a full appraisal is required, we will connect you with publicly appointed and sworn experts who are familiar with regional market conditions.

Frequently Asked Questions

Do I need an appraisal to sell my property in Nuremberg?

No, an appraisal is not legally required for a private sale. However, it can help justify the asking price and provide a solid basis for price negotiations.

Who pays for the appraisal in the case of an inheritance?

Generally, the appraisal is paid for out of the estate if it is required for the distribution of the estate. For inheritance tax purposes, the tax office may also commission its own appraisal.

How long does a full appraisal take?

Depending on the appraiser’s workload and the complexity of the property, between 2 and 6 weeks. In urgent cases, some appraisers also offer express appraisals.

When can an appraisal reduce inheritance tax?

Under Section 198 of the German Valuation Act (BewG), the taxpayer may challenge the property value determined by the tax office with an expert appraisal if they can prove that the actual market value is lower. This is particularly relevant for existing properties with defects, rented properties (discount due to rental), or ground-floor apartments with poor natural light. An expert appraisal that substantiates a lower value can significantly reduce inheritance tax-the cost of the appraisal often pays for itself many times over in such cases.

Overview of Valuation Methods

A reputable expert appraisal is based on one or more of the legally recognized valuation methods under the Real Estate Valuation Ordinance (ImmoWertV 2021):

Comparable Sales Method: The property or apartment is valued based on the sales prices of comparable properties. This method is particularly suitable for standardized condominiums in markets with sufficient comparative data-such as the Nuremberg metropolitan area.

Income approach: For income-generating properties (multi-family homes, commercial real estate), the focus is on the sustainable rental income that can be achieved. The appraiser takes into account the local appraisal committee’s property interest rate, operating costs, and the building’s remaining useful life.

Cost approach: For owner-occupied single-family homes and unique properties without sufficient comparative data, the cost value is determined based on land value and building construction costs (minus depreciation due to age). In rural areas of Franconia with a limited comparable market, this method is often the only reliable one.

In practice, appraisers frequently combine several methods and derive a plausible market value as a weighted average-this significantly enhances the report’s reliability.

Appraisals as a Tool for Price Negotiation

Even outside the context of inheritance and divorce, an expert appraisal can be useful when selling real estate in Nuremberg: An existing expert appraisal strengthens the seller’s negotiating position, as it transparently justifies the asking price. Prospective buyers who wish to drive down the price have less room to maneuver when faced with a well-founded full appraisal. Conversely, a buyer who has concerns about the purchase price can commission their own brief appraisal to establish a solid counter-argument.

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