Evaluate the object correctly - the right strategy

Look at databases with purchase prices notarized in reality by notaries (e.g. BORIS => Bodenrichtwerte etc.). Additionally, over time you can collect all exposés of foreclosures in your region (FREE download via the portal of the district courts .... => search for ZVG portal). The courts commission appraisers, who usually write very detailed and well-explained expert reports on the market value of a property. Then you get expensive expertise for free. In metropolitan areas like Cologne, there are constantly lots of foreclosures, so things quickly add up (but I don’t know where you are searching and how often foreclosures happen there). Interesting in such comparisons: The offers from real estate agents on the major property portals are about 20-30% above the market values from the expert reports But you can always give it a try :- )))

Market value

...Unfortunately, it is not the market price. For comparison, experience is needed again.

Here is an example from such an expert appraisal (usually about 15 pages long). The experts assume the market value/market price to be the same. Brokers usually see a much higher value :- ))) Banks less again. So everyone has their own perspective.

Thank you for the many infos. I have also used the various "free" online evaluation services. They follow a similar principle and were at least quite close to the asking prices of various real estate offers, although the offers were 20-30% higher. This confirms your statements. A professional is probably necessary for a second appointment because of some damages.

Otherwise, that's right, in my region things sometimes move quickly. Sales take place from a few hours to a few months - all possible. I have not yet reached the mindset to blow half a million in a few hours.

The experts assume the fair value/market value to be the same.

Just for your information: The fair value and the market value are the same things. Just synonymous terms - no differences at all.

I have not yet reached the mindset of blowing half a million in a few hours.

That sounds healthy. From the seller's perspective: We want to sell our terraced house stress-free and find good neighbors for the dear people we lived with for the last 18 years. The terraced house will go to a real estate agent in August. He already has a dozen potential interested parties. In September, we will have nothing more to do with the old house. Whether the house will be seriously listed at all, or only appear as real estate agent advertising with "sold" somewhere, is unclear.