A valuation report is usually valid for six months
A valuation means estimating the actual value of the property, the house, the location and other similar matters. This is done by a certified valuation surveyor.
There are various reasons to have your property valued. For example, if you are applying for a mortgage, your mortgage provider will want to be sure of the value of your future home. Furthermore, if you want to object to the Valuation of Immovable Property Act (WOZ) value, you will also need a valuation report.
TIP: The valuation report is an essential part of your mortgage application when you buy a house.
You would be wise to engage a certified valuation surveyor for the valuation of your future home. Don’t wait too long with arranging a valuation surveyor. It takes on average a week for the valuation surveyor to submit the valuation report. If you need the valuation for a mortgage, you should take this into account.
Approved valuation report
If your lender asks for a property validated report, this means that the report must be approved by an independent inspection institute, such as the Dutch Home Value Institute (NWWI). They validate valuations according to a set of clear guidelines. That way, lenders get a clear picture of how the valuation surveyor arrived at the appraised value. There are several other validation institutes to check the valuations besides the NWWI.
With a valuation, the valuation surveyor looks at, among others, the following aspects: the content and surface area of the property, the functional layout, the quality of construction, finish and maintenance. Insulation and energy efficiency also play a role. In addition, it is mandatory for the valuation surveyor to contact the municipality for information about the zoning plan and soil conditions. Last but not least, a valuation surveyor looks at the market situation. For example, what is the situation with regard to the housing supply and demand in the region? You can see the valuation report as a comprehensive report, in which the valuation surveyor addresses all the issues that concern you as a future homeowner.