What is a property valuation report (hindamisakt) and when do you need one

What a valuation report is — and how it differs from an estimate

A hindamisakt — officially eksperthinnang — is a document signed by a certified property valuer that determines market value using recognised methodology (the EVS 875 standard in Estonia). It includes an inspection, comparable transactions, photos and a reasoned value conclusion.

An agent’s opinion or a portal calculator (like our free estimate) is fine for planning a sale price, but has no official force — banks, notaries and courts accept only a certified valuer’s report.

When you need one

• Home loans and refinancing — the bank requires a report on the collateral (the most common reason).
• Inheritance — the notary needs the value for dividing the estate and calculating fees.
• Divorce and division of property — courts and parties need an impartial value.
• Company accounting and audits — reporting assets at fair value.
• Disputes and compensation — insurance, expropriation, ending co-ownership.

Note: banks only accept reports from bureaus they recognise. The major bureaus (Arco Vara, Uus Maa, Pindi, Domus, 1Partner and others) are on every Estonian bank’s list.

What it costs

Per the bureaus’ published price lists, an apartment report runs roughly €210–350, a house report €320–480 and a plot report €300–450 — VAT included, varying by region (smaller towns are often cheaper than Tallinn). See the live bureau price comparison here.

Extras may apply: a land-register extract (~€6), a travel fee for remote properties, and 10–20% for incomplete documentation (e.g. unpermitted alterations).

How long it takes and how long it stays valid

Typical turnaround is 3–5 working days after the inspection; rush orders cost extra. Bureaus release the report after the invoice is paid.

The law sets no expiry — the report reflects value at the moment of valuation. For loan applications banks generally accept a report up to 6 months old; requirements vary by bank, so confirm with yours first.

Who may issue one

Only a valuer with a valid state qualification: property valuer level 6 or asset valuer level 7 — banks generally expect level 6+. Every certificate is verifiable in the national qualifications register, and Estonia has only around three hundred such valuers in total — the full list is here.

Distinguish the eksperthinnang from an ekspertarvamus (expert opinion) — a shorter, cheaper document without full analysis that banks generally do not accept. If you need the report for a loan, always ask for an eksperthinnang.

How to order one

The fastest route is to request quotes from several valuers at once and compare price and turnaround: send one request to up to five certified valuers in your area — free and non-binding.

Before the inspection, prepare your documents: proof of ownership, the floor plan or building design, and information about any alterations. Complete documentation keeps the price down and the turnaround short.

Frequently asked questions

How much does an apartment valuation report cost?

Roughly €210–350 depending on the city and bureau (VAT included). In Tallinn standard-apartment reports start around €280; in smaller towns around €210–270.

How long is the report valid?

The law sets no expiry; banks generally accept reports up to 6 months old. The exact requirement varies by bank.

What does the valuer check during the inspection?

Condition, layout, whether the floor area matches the documents, alterations, and the location. Unpermitted alterations can increase the price and turnaround.

Does a free estimate replace the report?

No. A statistical estimate is good for planning a sale price, but banks, notaries and courts require a certified valuer’s signed report.