We document identifiable defects during the site inspection and estimate the anticipated costs of their proper remediation, which are deducted from the determined value.
In the case of severe defects, such as cracks in load-bearing masonry or fungal infestation, an additional uncertainty discount may be applied, since the discovery of such defects often deters buyers as well.
If there is doubt as to the cause or extent of a defect, it is advisable to involve a building surveyor, whose findings are then incorporated into the market value appraisal.
Even seemingly minor defects, such as leaking windows or outdated electrical installations without current grandfathering protection, should not be underestimated, as their costs can add up considerably in total.
A careful, photographically documented recording of defects also makes it easier to conduct later discussions with prospective buyers or other parties involved in the process in an objective manner.
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