Sworn property valuer: when do you need one in Belgium?

A sworn property valuer determines the value of a home in a way that also holds up before the notary, the tax authorities or the court. That is different from the non-binding price indication you receive when you are thinking about selling. Below you can read what such a valuer does, in which situations you need one, what the report contains and how to choose between an official valuation and an ordinary market estimate.

What does a sworn valuer do?

A sworn valuer is an expert who has taken an oath and is therefore allowed to draw up a valuation with official weight. He or she works independently of the buyer, the seller and the estate agent, and has no financial interest in the outcome. That neutrality is exactly what you pay for. After all, the report has to be acceptable to parties who do not share your interest.

In Belgium, these assignments are usually carried out by surveyor-experts, architects or estate agents with a valuation practice. Surveyor-experts are registered with the Federal Council of Surveyors (Federale Raad van landmeters-experten). Anyone appointed by a court is generally listed in the national register of judicial experts. Estate agents are recognised by the BIV, the Belgian regulator for estate agents, and work under a code of conduct.

The approach differs greatly from an online calculation. The valuer visits the property, measures and photographs it, checks the planning situation, the energy performance certificate (EPC) and any easements, and compares it with recently sold properties in the same neighbourhood. The result is a reasoned report. Not a loose figure, then, but a figure with supporting evidence that someone else can recalculate and, if necessary, dispute.

When do you need a sworn valuer?

The rule of thumb is simple. As soon as a third party has to accept the value, you need an official report. This applies mainly in these situations:

• Inheritance and inheritance tax. Heirs declare the home at its value on the date of death. In Flanders, you can opt for a binding valuation by a valuer recognised by the Flemish Tax Authority (Vlaamse Belastingdienst). The declared value is then fixed, which prevents a later reassessment or tax increase.
• Divorce or separation. Whoever stays in the home has to buy out the other party. An independent report takes that conversation out of the emotional sphere.
• Ending joint ownership. Brothers and sisters who inherit together need a shared starting point before they divide or sell.
• Protecting a vulnerable owner. If a minor or a protected person is a co-owner, the justice of the peace often requests a valuation report before allowing the sale.
• Court proceedings and expropriation. Here the court or the authority appoints an expert itself. You can, however, have your own counter-valuation carried out.
• Gift or contribution to a company. The tax authorities look on, so a well-supported value limits the risk of discussion afterwards.

If, on the other hand, you are simply thinking of selling on the open market, you usually do not need that formal report. What counts then is above all what buyers are actually willing to pay today in your street, and you read that fastest from the prices local agents achieve.

Sworn valuer or a free estimate from an estate agent?

The two do not exclude each other, but they serve a different purpose. A sworn valuation is a piece of evidence. It is paid for, cautiously substantiated and written with a view to review by a notary, a judge or the tax authorities. A market estimate by an estate agent is commercial. It starts from the demand in your neighbourhood and aims at a price at which the home sells within a reasonable time.

For an ordinary sale, that market estimate is usually the most useful. It takes into account what prospective buyers are doing at the moment: how many viewings a comparable home receives, how quickly offers come in and where demand stalls. Do request several of them, though. The amounts easily differ by a few per cent, and that difference weighs on the proceeds of your sale.

Do you want that comparison without making phone calls? Via ImmoMakelaarVergelijker.be you compare up to 3 BIV-recognised estate agents from your municipality, free of charge and without obligation. Anyone who prefers to start with a first guide price requests a free valuation of the home and places it alongside the agents' advice.

What does a sworn valuation cost and what is in the report?

There is no fixed rate. The fee depends on the type of property, the surface area, the location, how extensive the report has to be and for which authority it is intended. A concise valuation of a terraced house logically costs less than a full expert report of a farm with outbuildings. So ask in advance for a written quotation and have it stated whether VAT, travel and additional copies are included. If a court appoints the expert, the judge determines how the costs are shared.

A sound report contains at least a description of the property and the cadastral data, the planning information, the EPC, the condition of the building with the defects established, the method used, the reference sales on which the valuer bases the valuation, and the value conclusion with the date to which it relates.

Watch that last point. A valuation is a snapshot. Banks, notaries and the tax authorities expect a recent report, and after some time you had best request an update. So also keep the photos and the invoices of the work carried out, because they help substantiate why your home rises above the average of the street.

How to choose the right valuer for your case

Start with the purpose. Who is going to read the report? The answer determines which profile you need, because a report for inheritance tax is different from selling advice. Then run through these points:

• Check the recognition or the registration in the register that fits your case.
• Ask about experience with your type of property in your region. An apartment on the coast is valued differently from a country cottage in the Kempen.
• Safeguard independence. Anyone who wants to sell the property themselves afterwards has an interest in the figure.
• Set down the assignment in writing: price, turnaround time, number of copies and what happens in the event of a dispute.
• Ask explicitly whether the report is usable at the authority for which you need it.

If it emerges from that conversation that you actually just want to sell, skip the detour. Ask several agents for their advice straight away and compare their price proposal, their commission and their sales approach side by side.

From valuation to sale

A sworn valuer gives you a value that holds up against third parties. That is valuable in the case of an inheritance, a divorce or a procedure, and it is worth the cost as soon as there is something to dispute. For a classic sale on the open market, however, a different question counts: what price does your home actually achieve today, and which agent gets that done for you? So first compare the approach and the fee of a few local offices before you sign. That takes you a quarter of an hour and often yields thousands of euros in difference.