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The valuation is carried out in several steps: First, we record the land, building, and legal circumstances on site. The land value is then determined separately from the building value using the standard land values published by the expert committee (Gutachterausschuss).
For the building value, we select the appropriate method: for condominiums and single-family homes with sufficient comparable data, the sales comparison approach is usually applied; for rented investment properties, the income approach; and for individually used or rare properties, the cost approach.
Finally, property-specific surcharges and deductions are taken into account, for example for the degree of modernization, maintenance backlog, or special rights and encumbrances, in order to arrive at the final market value.
All three methods can also be applied in combination for more complex properties, such as a mixed-use building, in order to appropriately reflect different building components.
At the end, there is always a comprehensible plausibility review, in which the result is compared with current market observations and comparable transactions.