Housing

The value of a property

How do I know the real value of the property I want to buy or build? Does the property you are thinking of buying have any defects? What mod cons does it have? What materials were used during construction? How is the property registered in the land registry? Do any easements or other stipulations reduce the value of the property? These are all questions for which it would be a good idea to get an independent estimate of the value of the property you are thinking of buying.

The value of your property depends on several factors: the age of the property, recent sales in the same area, accessibility, the quality of construction and finishings, energy consumption, etc. This estimate is an important factor in your mortgage loan application, for the notary, for your home insurance, but most importantly for you. It will help you avoid any unpleasant surprises later and also give you a precise idea of the price the property could be sold for on the market.

ING works with carefully selected licensed independent experts. Contact your ING branch to have your property valued. Bear in mind that a property valuation does entail costs. For a mortgage loan, the experts authorised by ING have agreed in advance to carry out your valuation for a fixed price of €180. If this fee is insufficient due, e.g., to the size of your project, the expert will let you know in advance and provide you with a price quotation before valuing your property.

The expert will send you his valuation report within 5 working days. This document contains various items of information:

  • The market value of the property
  • The value in foreclosure
  • An estimate of any works to be considered
  • The rental value
  • etc.