"I need a survey." – that is one of the most frequent sentences in initial discussions. In fact there are four very different documents that all run under this umbrella term: the market value appraisal, the short appraisal, the building condition analysis and the substance report. This article makes the difference clear – with a view to which document covers which occasion.
The four document types
1. Market value appraisal under ImmoWertV 2021
The complete, formal appraisal to determine the market value of a property under the German Real Estate Valuation Ordinance (ImmoWertV 2021).
- Authorised author: publicly appointed and sworn experts (oebuv) for property valuation, certified valuers (e.g. under DIN ISO 17024), HypZert-certified valuers.
- Methodology: usually combines cost approach, income approach and comparable sales – depending on asset type.
- Report length: typically 40–100 pages plus appendices.
- Fee: for single-family houses or condominium units typically 1,800 – 4,500 EUR gross, for multi-family houses 3,500 – 8,000 EUR gross, higher for special assets.
- Legal effect: accepted for inheritance tax, gift tax, divorce proceedings, balance sheet valuation, mortgage lending value and court proceedings.
2. Short appraisal / market value estimate
Simplified valuation with reduced report scope.
- Report length: 8–20 pages.
- Fee: 600 – 1,500 EUR gross.
- Application: orientation in a sale, personal asset planning, private purposes.
- Legal effect: not suitable for tax or court purposes; frequently rejected by tax authorities.
3. Building condition analysis / substance report (technical document)
Technical analysis of the building condition without a value statement.
- Author: architect, civil engineer, building expert.
- Content: building condition, defects, refurbishment needs, investment cost estimate to BKI.
- Report length: 15–60 pages.
- Fee: 800 – 2,800 EUR gross, depending on property.
- Application: before house purchase, before refurbishment planning, in developer disputes, in warranty questions.
- Legal effect: advisory document, no formal evidential weight.
4. Energy performance certificate (demand-based or consumption-based)
Mandatory document on sale/letting under GEG.
- Author: certified consultants (BAFA/dena list).
- Fee: 80 – 250 EUR (consumption-based certificate), 350 – 800 EUR (demand-based certificate).
- Application: statutory compliance only; no refurbishment recommendation, no technical depth.
The decision matrix
| Occasion | Recommended document | Fee range |
|---|---|---|
| Inheritance tax declaration | Market value appraisal (oebuv) | 1,800 – 4,500 EUR |
| Divorce equalisation of gains | Market value appraisal (oebuv) | 1,800 – 4,500 EUR |
| Sale, own understanding of market value | Short appraisal | 600 – 1,500 EUR |
| Balance sheet valuation of commercial property | Market value appraisal (HypZert/oebuv) | 3,500 – 8,000 EUR |
| Mortgage lending value, bank | Lending value appraisal (bank format) | depending on bank, often included with financing |
| Before house purchase | Building condition analysis / buyer support | 600 – 2,500 EUR |
| Before refurbishment, investment planning | Building condition analysis + iSFP | 1,500 – 3,500 EUR |
| Building defect with dispute | Damage report (oebuv for damage) | 1,500 – 6,000 EUR |
| Sale/letting (statutory duty) | Energy performance certificate | 80 – 800 EUR |
When two documents make sense
In my practice four typical constellations call for sensible combination of value and substance documents:
Constellation 1: inheritance with subsequent refurbishment
First market value appraisal (for inheritance tax), then building condition analysis (for refurbishment decision). Sequence matters: the tax cut-off date determines the value, not today's condition.
Constellation 2: house purchase with bank financing
The bank requires a lending value appraisal – this is the bank's matter, not the buyer's. In parallel: own building condition analysis or buyer support – not a substitute but a supplement. The bank checks value for itself; the buyer needs the technical condition.
Constellation 3: sale of an owner-occupied house
Short appraisal for realistic pricing, energy performance certificate for statutory compliance. Building condition analysis only if the seller wants to disclose major defects transparently in the brochure (legally wise; avoids later disputes about defects).
Constellation 4: tenancy dispute with substance question
Market value appraisal irrelevant. Instead a technical report or building condition analysis with defect assessment – often combined with legal advice.
The myth of the "neutral appraisal"
A recurring question: "Do I get a neutral market value appraisal from the architect?" The answer is clear: a market value appraisal requires a formal qualification (oebuv appointment, HypZert certification) which is not covered by the architect's chartering. Architects are specialists in technical valuation, not in economic valuation.
This separation is legally intended – it secures the quality of both disciplines. Anyone wanting one from a single source either asks a publicly sworn expert with additional construction experience or combines two specialists in one coordinated mandate.
What the buyer/owner should know
- Before commissioning: clarify which occasion applies. A "report for the bank" is a different document from a "report for the notary negotiation".
- Fees require transparency. A serious offer names the valuation method, the report scope and the assumptions. Flat offers without these details are suspect.
- Set a realistic preparation time. Market value appraisal: 4–8 weeks. Building condition analysis: 2–4 weeks. Short-notice appointments are rarely possible without losing quality.
Bottom line
"Market value appraisal" and "building condition analysis" are not synonyms – they are two different professional disciplines with different legal effects and different methodological canons. Anyone who knows the difference commissions precisely, saves money and receives a document that is actually usable for the occasion at hand. The shared starting point of both disciplines remains: without a thorough building survey and groundwork assessment, neither value nor costs and risks can be estimated sensibly.
Related articles:
- Buyer Support vs. Building Surveyor: Who Does What, What Costs What
- Buying a House in NRW: The 12 Hidden Defect Risks
- GEG 2024/2026: Refurbishment Obligations and Exceptions
Next step: Initial discussion on the right commissioning – compact advice on which document fits which case: contact form.
Next step
Would you like this topic assessed for your property in concrete terms? I offer a free initial consultation — fee ranges, scope and available subsidies discussed openly.