Expert opinion on the fair value (market value) of developed and undeveloped land
Source: BUS Rheinland-PfalzIf you want to sell a developed or undeveloped plot of land, it can be useful to have the market value of the land determined in order to set the purchase price. Likewise, in the case of inheritance disputes between property heirs, an independent appraisal helps to avoid disputes.
The market value of real estate is determined by independent appraisal committees and reported in market value reports. The appraisals have no binding effect unless otherwise stipulated or agreed.
Market value appraisals are also prepared by specially trained publicly appointed and sworn or certified experts (surveyors).