Why having a house appraised before buying it can save you a lot of money

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The news may not have escaped you, especially if you plan to buy real estate soon: from 2022, the amount lent by the bank will be calculated on the basis of the value of the property. It is therefore crucial to negotiate the purchase price with the seller! A pre-purchase expertise can help you.

Paying to save may seem paradoxical. But when it comes to a potential saving of several thousand euros, especially for the purchase of real estate, the question deserves to be asked. There are several ways to minimize the costs associated with buying a home. For example, you can compare mortgages from different banks to find the one with the best conditions, or choose a variable rate loan if you think that rates will drop in the future. But even when negotiating the purchase price of the property, it is possible to save a lot of money.

You avoid unpleasant surprises and additional work

This is of course the first reason to have the property appraised: to know all the possible hidden defects, the future repairs and renovation work to be planned, or the possible risks of damage over time. After all, the purchase of a house or an apartment should not be done on a simple impulse, especially when it comes to the first property, and knowing the growing difficulty of young buyers to bring together the funds. Every euro counts and the costs related to the work can very quickly reach thousands of euros. An expert can save you a lot of hassle by taking the time for you to check the elements you might not have thought of. Humidity, waterproofing, insulation, hard-to-spot details are numerous and without a trained eye, you could spend days in the house before noticing anything. Even the seller, however honest, may not have spotted a plumbing problem, or a crack forming.

You will have greater bargaining power

Report in hand, ready to make your offer, you will be in a strong position to negotiate the price of the house with its seller. If the expertise has revealed necessary renovations to be planned, you can rely on this argument to revise the price downwards and possibly save enough to carry out the work, or even more. Especially if it's something the seller didn't tell you about. He or she will no longer be able to justify his initial price with such confidence if you discover a defect that he or she was unaware of. The risk, of course, is that other buyers are also interested, which is often the case in Belgium where supply is struggling to keep up with demand.

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— Dacsanphanrang No1 Thu Nov 01 02:05:35 +0000 2018

The expertise of real estate agents can work against you

Many homeowners hire a real estate agent to sell their home. And very often, it happens that the estimate of the selling price is made by the agency itself, in order to gain the rights of the sale. However, this estimate is more often carried out in favor of the seller than in that of the buyer. Quite simply because the real estate agent will have every interest in inflating the selling price of the house. To seduce the seller, but also to earn a bigger commission. On the other hand, some companies offer to carry out an expertise before the purchase, in order to highlight everything that you have not seen, and which could help you lower the price. They also often offer to be paid as a percentage of the savings you have made on the initial price. A lower cost when you think of the thousands of euros you could save!

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