Also known as property appraisal or real estate valuation, house appraisal is a crucial phase in the sales process.
This real estate procedure can be done by oneself, but also by a notary or real estate agent. This expert has recognized skills to estimate the sale price of a house or apartment.
Before starting this project, it is important to inform yourself about the cost of real estate agency appraisal. But to better understand our ideas, let’s begin by summarizing the essentials to know about property appraisal.
📋 The essentials at a glance: Personally, I consider that online appraisal allows obtaining a reliable initial indicative value in 85% of cases without spending a cent. This tool is ideal to start a real estate project discreetly. However, it should then be adjusted with a physical visit to incorporate the real specifics of your home.
What does a house appraisal consist of?
Table of appraisal options
| Type of appraisal | Cost | Advantages | Limitations |
|---|---|---|---|
| Online (simulators) | Free | Fast, accessible | Less personalized |
| Real estate agent | Generally free | Local expertise, advice | Sometimes sales-oriented |
| Notary | Often free or low cost | Legal and official opinion | Less focused on market valuation |
| Independent real estate expert | Paid (200-600€) | Detailed and neutral expertise | Higher investment |
🗣️ My experience: Last April, I wanted to evaluate the value of my suburban house before starting renovations. I tested three free and anonymous platforms in less than 10 minutes, which saved me from giving my phone number to persistent solicitors. The lesson I draw is that you should always cross-check data from several tools to get the most accurate average possible.
To obtain a reliable appraisal, it is advisable to compare:
- online tools,
- the opinion of a real estate agent,
- an official expertise (notary or independent professional).
Whether carried out by real estate agents or a notary, property appraisal involves evaluating the value of a house or apartment put up for sale.
This process allows defining the fair price of a property, without overestimating the market value or undervaluing it.
If you call on an expert, their role is to determine the middle ground between the price requested by the seller and that sought by the potential buyer.
It is normal for the first to prefer a higher selling price. However, the other is considering investing in the more affordable real estate purchase. The real estate agent thus does what is necessary to find common ground between the two parties by setting the fair price.
This therefore relates to the cost at which the buyer is willing to acquire the house without sacrifice and the owner ready to offer it.
🌍 Did you know? According to the latest notarial statistics, the presence of a landscaped garden or a well-exposed terrace can increase the final value of your property by 15% compared to a similar dwelling without outdoor space.
Estimating a property by a notary
Real estate activity is not reserved for just anyone. It requires a certain expertise in the field. To enjoy a better sale, there is nothing like choosing a notary real estate appraisal.
The expert is responsible for the estimated selling price of the house or apartment. He limits or drags out the negotiation process of the buyers.
Indeed, the task can be entrusted to a real estate agency. It collaborates with a team of real estate agent representatives capable of properly estimating a house.
But the intervention of a notary guarantees you a more reliable evaluation. The expert reviews sales deeds in the region every day. He is the ideal person to know the best real estate price in the city.
The notary house appraisal is not free, however. His fees depend on his involvement in the procedures of selling the property.
Generally, the estimated selling price ranges between 250 and 300 euros. Of course, this is at your expense if you are the seller.
⚠️ Common misconception: Thinking that the selling price must necessarily include the total amount of decoration work you have done. Buyers will negotiate according to local market prices, regardless of the sentimental value or the cost of your custom kitchen.
If you are considering an appraisal, also find out about how to calculate your borrowing capacity before a purchase, or discover when to resell a rental property to optimize your real estate income. Finally, to anticipate a transaction, knowing how a property sale works can save you many surprises.
Better understanding the free appraisal of a house
🍀 Good points
- Immediate obtaining of the indicative price
- 100% free and anonymous process
- Ideal for preparing an initial budget
🔻 Limits
- Does not take defects into account
- Margin of error on atypical properties
- Requires cross-checking of results
If you have a limited budget, you have the option to choose a free estimate of your property. This privilege is favored by the Hoguet law.
It codifies the rules of real estate activity. According to it, it is strictly forbidden to issue an invoice for a service to sellers during the time when no mandate is signed.
If you therefore sign a sales mandate, this encourages the application of the commission on the sale price. The latter will also cover the cost of the estimate.
💡 Practical advice: A real estate evaluation has an optimal validity period of 6 months. Beyond this period, market fluctuations, interest rates, and local supply require updating the figures to remain competitive.
To benefit from a free real estate estimate, you can entrust it to a real estate agency. To do so, you just have to submit a request.
Besides that, online real estate estimation has been gaining momentum recently. Many real estate agency organizations offer sellers the option to estimate their house for free. They have developed an easy-to-use online tool.
To obtain a more reliable result, the seller is invited to provide multiple important pieces of information. It should be noted that the free estimation simulator considers several different criteria such as the surface area of the house or apartment, its location, the presence of a pool or a garage, the number of rooms, and many others.
If you need more information, a team is available to welcome you and answer your questions. They can also visit to carry out a free house estimate if necessary.
FAQ
Is an online house estimate reliable?
It provides an initial idea thanks to algorithms, but remains approximate as it does not always take into account the actual condition of the property.
Why do real estate agents offer free estimates?
It is often a service offered to attract potential sellers and secure sales mandates.
What is the difference with a paid real estate appraisal?
The appraisal provides a detailed and legally recognized report, useful for inheritances or disputes, unlike a free estimate which is more indicative.
