Takst
A takst (a formal appraisal) is a professional assessment of a property's market value made by a certified takstmann (appraiser). A takst is used for home sales, refinancing, estate settlements, expropriation and insurance cases. It differs from an estate agent's valuation by being a stricter, standardised and independent professional statement.
Certification is granted through Norsk takst (formerly NTF and NITO Takst, merged in 2020) or Norges Takseringsforbund. An appraiser follows fixed standards: area is measured according to NS 3940 (revised in 2023, in effect from 2024), the technical condition of the building is assessed according to NS 3600, and cost calculations follow NS 3451 (the building element table). The appraisal report itself must be verifiable and independent of the client.
There are several types of takst with different purposes. A verditakst estimates the market value for a sale, refinancing or estate settlement. A lånetakst (also called a cautious market value) is a lower estimate adapted to the bank's lending purposes, but it is used less now that banks have moved to e-takst for home loans. Condition grade follows NS 3600 and states wear and deviations for each building element on a scale from TG0 (as new) to TG3 (critical). A forsikringstakst (insurance appraisal) calculates the replacement cost after a fire or other damage. An erstatningstakst (compensation appraisal) is used in expropriation cases and follows the rules in the vederlagsloven (Compensation Act). For commercial property, an income appraisal is also used, based on the yield method (market value = NOI / yield).
After the new avhendingsloven (Alienation Act) came into force on 01/01/2022, a condition report has become close to mandatory for selling a home, because the report moves the risk for hidden defects back to the buyer within what is documented. A seller who does not provide a condition report can no longer avoid liability for internal defects through a general "as is" reservation. That has made the appraiser a central party in every home sale, and price pressure has produced shorter standardised reports alongside full-scale NS 3600 reports.
The price of a takst varies with the property type and the scope of the report. A simple verditakst on a flat typically costs 4,000 to 8,000 kroner; a full condition report on a detached house 12,000 to 25,000 kroner; a commercial appraisal on an office building from 25,000 kroner and upwards. E-takst is the cheapest (3,000 to 6,000 kroner) but is a formalised valuation from an estate agent, not a takst in the strict sense.
Incorrect measurement or incorrect information in the takst can give grounds for a price reduction under avhendingsloven § 3-8 (incorrect information). In serious cases, the appraiser can be held professionally liable to the buyer for financial loss that follows from the report. The certification bodies have complaints and disciplinary procedures.
In Placepoint you find matrikkel and building data, zoning provisions, Grunnboken data and comparable transactions in the property panel, which is the information base an appraiser typically gathers manually before an inspection.
How it looks in Placepoint
In Placepoint you find this in Property panel:
From Placepoint's glossary: Takst
More information: Standard Norge: NS 3600, Standard Norge: NS 3940, Lovdata: Avhendingsloven § 3-8, Norsk takst
English: Property valuation.
Common questions
What is the difference between a takst and a condition report?
Takst is a general term for a professional valuation. A condition report is a specific type of takst under NS 3600 that assesses the technical condition of the building and is close to mandatory for home sales under the 2022 avhendingsloven.
Who can issue a takst?
Only certified appraisers from Norsk takst or Norges Takseringsforbund can issue formally valid appraisals. Certification requires a trade certificate (fagbrev) or engineering qualifications, courses and practical experience.
What does a takst cost?
A verditakst on a flat typically costs 4,000 to 8,000 kroner; a condition report on a detached house 12,000 to 25,000 kroner; a commercial appraisal from 25,000 kroner and upwards. E-takst is cheaper but is not a full takst.
How long does a takst last?
A takst is usually valid for six to twelve months. With large market movements, conversion work or damage, the takst should be updated earlier. Banks rarely accept appraisals older than one year for new loans.
What is TG0 to TG3?
The condition grade in NS 3600 runs from TG0 (as new, no deviations) through TG1 (minor wear) and TG2 (deviations that may require work) to TG3 (critical deviation, immediate work needed). Several TG3 grades on key building elements should be priced into a purchase.