Land Valuation Committee
Land valuation committees represent panels of property experts. In Germany, these include representatives of competent authorities and pro-bono members, such as architects or civil engineers, for instance. The surveyor committees operate autonomously and independently, even though they are affiliated with government authorities whose exact nature varies from one German state to the next (including, e.g. district offices, official surveying agencies, and land registries). The committees were created with the ratification of the German Federal Building Code (BauGB) in 1960.
Once a property deed is signed, it is forwarded to the competent property valuation committee by the notary. The data detailed in the deed, such as the purchase money, the location, and the size of the property, are aggregated, evaluated, and published in summarised form. The data serves as basis for fair market valuation reports on properties or mortgage appraisal reports compiled by banks.
These fair market valuation reports for developed and undeveloped properties are drafted by the committee. The reports are subject to a charge, and may be commissioned by private individuals, too. Other responsibilities of the committees include the determination and publication of standard land values and other data used to determine the value of a given property.
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