Real Estate Valuation by App

Are the real estate valuation apps offered by Swiss banks a realistic alternative to valuation by appraiser?

Hi there,

While apps like Homecheck (PostFinance), Quanto (Bank Cler), Homescan (BKB) and Immosnap (Clientis) are an interesting development, they do not replace conventional property appraisals for the purpose of buying or investing in real estate.

Appraisals provided by these apps are based primarily on the GPS location of the phone. The average property values for real estate in that location – combined with the additional information you enter (square meters, etc.) – are used as the basis for appraisals.

The appraisals provided by these apps should be considered rough estimates. While this can be useful if you simply want to get an idea of what a house or apartment might cost in passing, a conventional appraisal is generally required for the purpose of mortgaging a home, and is recommended in every case before a real estate purchase.

Best regards from Moneyguru

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