I bought a house: Why and when do I need an appraisal?

Your offer has been accepted and the purchase agreement has been signed. This is a great moment: you’re one step closer to getting the keys to your new home. If you need a mortgage to make the purchase, all that’s left is the necessary paperwork.

One of those steps is often the appraisal. But why is it actually necessary if you’ve already bought the house? And when should you have the property appraised?

Why do I need an appraisal?

When you take out a mortgage, the lender wants to know the market value of the property. This is because the property serves as collateral for the mortgage.

That’s why an independent appraiser is brought in. The appraiser inspects the property and independently and objectively determines its market value. The appraiser must have no vested interest in the outcome of the appraisal and must be registered with the Dutch Register of Real Estate Appraisers (NRVT) to perform professional property appraisals.

The market value and the rationale behind it are documented in an appraisal report. The lender uses this report when evaluating your mortgage application.

When should I have my home appraised?

The appraisal is usually requested after an agreement has been reached on the purchase and the financing process has been initiated.

Don’t wait too long to do this. The purchase agreement may include deadlines that are important for financing, for example, if a financing contingency has been agreed upon. Therefore, discuss with your mortgage advisor when the appraisal report must be available and what requirements it must meet.

Also keep in mind that a valuation report is generally valid for six months. Ultimately, the lender determines which requirements the report must meet for your mortgage.

What does an appraiser do during an appraisal?

An appraisal begins with an inspection of the property. The appraiser visits the property and examines it both inside and out. Among other things, the appraiser assesses the location, layout, living area, quality, and condition of the property, as well as its amenities and sustainability aspects.

In addition, the appraiser conducts further research. This includes legal and public law aspects, the surrounding area, the local housing market, and relevant market data. Comparable properties that have been sold are also examined.

Since April 1, 2026, the appraisal report has also included information on foundation risk. The appraiser uses the available data from the foundation risk report for this purpose. During the inspection, the appraiser also assesses whether there are any visible signs or other information that would warrant deviating from this risk classification or recommending further investigation.

Important to know: a valuation is not a foundation inspection. Therefore, the appraiser does not determine the technical quality of the foundation during the valuation. If the available information or observations made during the on-site inspection warrant it, additional investigation by a foundation expert may be necessary.

Based on the on-site inspection, the additional investigation, and the market analysis, the appraiser determines the market value and substantiates it in the appraisal report.

What is an NWWI-validated appraisal report?

When granting a mortgage, lenders often require an NWWI-validated appraisal report. The Dutch Housing Value Institute (NWWI) is an independent validation institute that assesses appraisal reports against the applicable guidelines and quality standards.

The appraiser remains the person who inspects the property and independently determines its market value. The NWWI therefore does not determine the value itself, but rather validates the appraisal report.

I’m planning to renovate. How does the appraisal work in that case?

Do you want to renovate or make the home more sustainable after purchase and include the work in the financing? If so, this can also be factored into the appraisal.

The appraiser can then determine two market values: the market value in its current condition and the market value based on the assumption that the planned renovation has been completed. For this, it must be clear what work will be carried out and what investment is involved.

Good to know: the costs of a renovation are not automatically equal to the increase in the property’s value. The appraiser assesses the effect the proposed work will have on the market value.

A valuation may also be necessary in other situations

A valuation isn’t only relevant when purchasing a home. An independent valuation may also be needed, for example, when refinancing a mortgage, obtaining a bridge loan, going through a divorce or property division, or handling an estate.

The type of valuation or report required depends on the purpose. Therefore, always let the appraiser know why you need the valuation.

Need a valuation? Choose a certified appraiser

Do you need a valuation for the purchase of a home, a renovation, or, for example, refinancing? If so, it’s important to engage an expert and registered appraiser who can independently determine the market value of the property.

An appraiser who is a member of the Amsterdam Real Estate Agents Association (MVA) is familiar with the Amsterdam housing market and has the knowledge and experience to arrive at a well-founded valuation. Find an MVA professional near you here.