The asking price of a property does not always reflect its actual value. Anyone looking to buy a home is advised to first research its market value.

What Determines the Value of a Property?

The market value is influenced by various factors. Location is important, but so are the living area, plot size, structural condition, layout, energy efficiency, and recent sales of comparable homes in the area.

As a result, two homes on the same street can have different values.

For example, a property with an extension and a modern interior is not automatically worth as much more as the renovation costs that were invested.

Can You Use the WOZ Value?

The WOZ value can provide a first indication, but it is not the same as the current market value.

The WOZ value is based on a statutory valuation date from the past. In addition, a current market valuation takes recent market developments and the specific condition of the property into account.

What If the Appraised Value Is Lower Than the Purchase Price?

This is an important point when it comes to financing.

With a standard mortgage, you can generally finance up to 100% of the property’s market value, subject to legal exceptions, such as for energy-saving improvements.

If you purchase a property for €450,000 and it is appraised at €435,000, you will generally have to pay the €15,000 difference yourself, in addition to the associated purchasing costs.

What Does OZQUR Think?

A property is not automatically worth whatever someone is willing to pay for it.

At OZQUR, we distinguish between the emotional value for a buyer, the market value, and the financeable value.

We believe it is important for clients to understand this difference before submitting an offer.

Are you looking to buy a property and unsure whether the asking price is fair? Let OZQUR help assess the market value and bidding strategy.

At OZQUR Real Estate, We Help You Find Your Dream Home in 5 Steps

1. Getting Acquainted & Defining Your Housing Needs

We start with you. We get to know each other, build trust, and clearly identify your housing preferences and most important criteria.

→ Understand first, then search.

2. Determining Your Budget & Possibilities

Together with the buyer’s agent and financial advisor, we determine your mortgage options, budget, and ideal search range.

→ Know what is possible before you start looking.

3. Viewing Properties Together

You focus on how the property feels. We critically assess the technical condition, location, opportunities, and points of concern.

→ You decide whether it feels like home. We look at everything else.

4. Determining Value & Making a Smart Offer

We analyze comparable sold properties, discuss the property with the seller’s agent, and assess the expected appraisal value. Together, we determine the bidding strategy and submit the offer.

→ Don’t just make an offer, make an informed offer.

5. From Accepted Offer to the Notary

Has your offer been accepted? We review the documents and purchase agreement, monitor all important deadlines, and guide the entire process through to the notary.

→ We stay in control until you receive the keys.

Yucel Samanci
Buyer’s and seller’s agent at OZQUR Real Estate, specializing in purchasing strategy, negotiations, and guidance for Dutch, Turkish, and expat clients.