Open market valuation, explained

Open market value is the price at which a property could reasonably be sold, on the valuation date, under normal market conditions: a willing seller and buyer, the property marketed for a sufficient period, free of any particular constraint. It is the reference value used by the French tax authority and the courts.

Fees are fixed and quoted before any commitment. The range is given to you after a brief description of the matter (type of property, purpose, complexity). This cost remains far below the risk of an undervaluation challenged by the tax authority or by an opposing party.

Four stages. First the engagement letter, setting the purpose and the valuation date. Then an on-site visit of the property. Next the analysis of comparables: recent sales of similar assets, adjusted for differences. Finally the delivery of a written, reasoned and dated report, setting out the method and the value retained.

The primary method is comparison: the expert gathers recent sales of similar properties in the same area, then adjusts for actual differences (floor area, condition, level, aspect, finishes). For income-producing assets, the income capitalisation method may complement it. Every adjustment is documented in the report.

An agency estimate is a free opinion of value, geared towards securing a sale mandate. A valuation is an independent, reasoned analysis, formalised in a written and dated report and conducted under a traceable method. Only the valuation is admissible before the tax authority or the court in case of dispute.

A report produced under the Charte de l'expertise en évaluation immobilière documents the method, comparables and adjustments retained. These elements make it defensible before the DGFiP and before the court. Its evidential weight rests on the rigour of the reasoning and on respect for the adversarial nature of the procedure.

Allow around 3 to 4 weeks for a standard asset, from signature of the engagement letter to delivery of the report. Complex matters — multiple assets, joint ownership, disputes between parties — take 5 to 8 weeks. The timeframe is confirmed with the quote, based on the specific constraints of your matter.

Call an expert whenever a value must be justified, not merely announced: estate, divorce, gift, partition, IFI wealth-tax declaration, litigation. The estate agent estimates an asking price; the expert produces a reasoned, admissible value, independent of any commercial interest in the property.

The practice is based in Carry-le-Rouet and covers the whole Côte Bleue, the Aix-en-Provence area, Marseille and the wider Bouches-du-Rhône département, with amicable valuations extending to Var, Vaucluse, Alpes-de-Haute-Provence, Alpes-Maritimes and Gard. This close knowledge of the local market informs the analysis of comparables, area by area.