For mortgage applications, an appraisal report (or valuation report) is one of the most important documents required by the lender. In this report, an appraiser determines the market value of the property. Without an appraisal report, you cannot actually obtain a mortgage. Find out why an appraisal report is crucial.

Appraisal report

What is an appraisal report and what does it consist of?

An appraisal report is almost always mandatory for your mortgage application. The lender will request the report as proof of the actual value of the property. In addition, information about the property’s location, its surrounding area (such as the zoning/municipal development plan and connection to motorways) and the size and layout of the house are incorporated. Other matters in the report include:

  • The general condition of the property
  • An estimated value increase through any scheduled renovation work
  • Whether there is a HOA (Home Owners’ Association), and the status of that HOA
  • Whether the house is on private land or whether it is leasehold
  • Whether there is any contamination present in the soil
  • The energy label of the house
  • The marketability of the house’ in other words: how quickly can you expect to sell the property in the current market?

At which stage do you request an appraisal report?

As soon as your offer has been accepted, you will need to have an appraisal report drawn up, as your application depends on the value of the house, because you cannot be granted a mortgage that is in excess of the property value. The interest also depends on the amount of your loan in relation to the value of your house. It often takes about 1-2 weeks until the appraisal report is ready.

Good to know: if you are looking to make energy-saving investments, you can often get a mortgage in excess of the current value of your house – often up to 106% of the home value. You are then however obliged to spend this extra money on making your home more energy-efficient.

Choice of appraiser and appraisal report costs

You can either seek out an appraiser yourself, or enlist the help of your purchasing agent. Your Viisi advisor can also handle this for you. Requesting the appraisal report through us costs € 630. We work with cooperation partners who always engage local, independent appraisers for the appraisal. The appraiser will determine the value at his own independent discretion.

Set up a phone appointment

Desktop Appraisal Report

You can also request a Desktop Appraisal via Calcasa which will be in your e-mail box within 4 working hours. Please note: a Desktop Appraisal Report is often not able to be utilised for a mortgage application. Another option is to get a free estimate of the home value yourself via Walter Living.

Checking your valuation report yourself

You can speed up the acceptance process for your mortgage by checking the appraisal report yourself in the meantime. It’s a very simple process, and the questions below will help you. Are the answers ‘no’ in every instance? If so, you don’t have to do anything. Are the answers ‘yes’ to one or more questions? In that case, please contact your Viisi mortgage advisor.

Checklist appraisal report

Question 1: Is the appraised market value lower than the purchase price stated in the deed of sale?

Question 2: If a renovation is (partly) co-financed:

  • Has the market value figure after renovation been omitted?
  • Do the amounts and/or renovation work deviate from the renovation specification?

Question 3: Is the maintenance condition marked as ‘poor’ in any area?

Question 4: Is a percentage of immediate repairs necessary that exceeds 10%?

Question 5: Is there a ‘yes’ stated anywhere in relation to (soil) contamination?

Question 6: If there is an commonhold arrangement (appartementsrecht) in place, then:

  • Is the registration of the HOA in the Chamber of Commerce missing?
  • Is there a lack of a multi-annual maintenance plan (MJOP)?

Other situations where you’ll need a valuation report

You don’t just need an appraisal report when buying a new home. An appraisal report may also be required for:

Viisi will share insights with you on the appraisal report

Have you just bought a house or do you need an appraisal report for another reason? We are happy to share insights and talk with you about your specific situation, and can also request the appraisal report for you. Our advisors are ready for help. Set up a no-obligation appointment, and together we will can talk things over as soon as possible.

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