How is the buyout amount determined?
A settlement between co-owners usually starts from the value of the whole property and the size of each co-ownership share.
For example, if a house is worth CZK 4,000,000 and two siblings each own one half, the value corresponding to each share is CZK 2,000,000.
A different situation arises when a co-ownership share is sold separately to a third party. Its market value may be lower than the corresponding proportion of the whole property’s value, because the buyer does not acquire exclusive ownership of the property.
It is therefore important to clarify the purpose of the valuation in advance.
How do I value the property?
I determine the value using actual sales of comparable properties.
For houses, apartments and holiday properties, I assess location, size, condition and other characteristics affecting the price.
For land, I mainly account for location, area, access and possible uses.
The result is a written valuation with a calculation and an explanation of the assessed value.
What do I need to prepare a valuation?
To begin with, the property needs to be identified:
- House or apartment: address, or the ownership sheet number (LV) and cadastral area.
- Land: ownership sheet number (LV) and the relevant cadastral area.
- Several properties: the ownership sheet numbers (LV) and their cadastral areas.
It is also useful to state whether the valuation concerns a buyout between co-owners or a share intended for a separate sale.
We always agree the scope and fee before work begins.