There are two types of property appraisal: a desk appraisal (kijō satei), also called a simplified appraisal, which produces a rough estimate from data alone without visiting the property, and an on-site appraisal (hōmon satei), which involves an actual visit to calculate a more detailed price. A desk appraisal suits the stage where you simply want a feel for the market, while an on-site appraisal is the standard next step once you're seriously considering a sale.
- There are two types of property appraisal — desk appraisal and on-site appraisal — which differ in accuracy and speed.
- A desk appraisal calculates a rough estimate from data such as comparable closed sales and posted land prices.
- An on-site appraisal factors in an actual visit — sunlight, views, management condition, renovation history, and more.
- A desk appraisal suits the stage where you just want a feel for the market; an on-site appraisal suits an actual sale decision.
- An appraisal is only a projected selling price — it does not guarantee the actual sale price.
What Is a Desk Appraisal (Kijō Satei)?
A desk appraisal calculates a rough price without visiting the property, using basic information such as location, building age, floor area, and floor number, combined with comparable closed sales in the area, government-posted land prices (kōji chika), and transaction data registered with REINS (the agents-only listing network). Because results come back quickly, it's well suited to the stage where you haven't decided to sell yet and simply want to know "roughly what is this worth today." That said, it doesn't reflect the actual condition of the building or how well it's managed, so it should be treated as a rough guide rather than a precise figure.
What Is an On-Site Appraisal (Hōmon Satei)?
An on-site appraisal is carried out by a representative from a real estate company who actually visits the property to check the interior condition, sunlight and views, whether it's been renovated, how well the common areas are managed, and the surrounding environment. It's more accurate than a desk appraisal and is used as the basis for setting the actual asking price. For a condo, factors such as the level of the management fee (kanrihi) and reserve fund for large-scale repairs (shūzen tsumitatekin), the history of large-scale repairs, and how the management association is run are also checked, since they influence the price.
Which Should You Choose? Matching the Appraisal to Your Stage
If you're at the stage of "starting to consider selling, but not decided yet," getting desk appraisals from several companies is a good way to build a rough sense of the market. On the other hand, if you have a concrete plan — say, "I'd like to sell within about six months" — a practical approach is to request an on-site appraisal early and use it as the basis for setting your actual asking price.
The Difference Between the Appraisal Value and the Actual Selling Price
An appraisal value is only a projection of "roughly what this should sell for" — it does not guarantee the actual contract price. Depending on the response after listing and the negotiation that follows, a property can sell for more than the appraisal, or for less depending on market conditions and the property's specific circumstances. Gaps between the appraisal value and the actual sale price can also arise from the timing of the listing, the state of competing properties nearby, and the impression made during viewings. It's best to treat the appraisal value as a reference point for setting your asking price, rather than a fixed number.
Preparing to Request an Appraisal
To help an on-site appraisal go smoothly, it helps to have on hand the important matters explanation document (jūyō jikō setsumei-sho) and brochure from when you purchased the property, the certified copy of the property register (tōkibo tōhon), the fixed asset tax notice (kotei shisanzei nōzei tsūchisho), and any records of past renovation work — these all help the representative produce a more accurate appraisal. For a condo, it's also worth having the management rules (kanri kiyaku) and long-term repair plan (chōki shūzen keikaku) ready for them to review.
The Benefits — and Cautions — of Requesting Multiple Appraisals
Rather than relying on just one company, it's worth requesting appraisals from several and comparing both the figures and how clearly each one explains its reasoning. As a rough guide, requesting from two or three companies and comparing the range of figures and the quality of the explanation is a practical approach. That said, a company offering an appraisal price far higher than the others isn't necessarily the best choice — some companies quote a higher-than-market figure simply to win the listing, so it's important to ask what comparable cases the figure is based on.
Frequently Asked Questions
Which should I request first, a desk appraisal or an on-site appraisal?
If you haven't decided when to sell yet, a desk appraisal is a good way to get a feel for the current market. Once you're seriously considering selling, requesting an on-site appraisal is the usual next step.
Is an appraisal free?
Most real estate companies offer both desk and on-site appraisals free of charge. If there's ever a fee involved, it's worth confirming that in advance.
How long does it take to get an appraisal result?
As a general guideline, a desk appraisal can come back the same day or within a few days, while an on-site appraisal typically takes about a week after the in-person visit.
Summary
Property appraisal comes in two types: a desk appraisal that produces a rough figure from data, and an on-site appraisal calculated after an actual visit. Matching the type to your stage, and comparing appraisals from several companies, will help you build toward a well-grounded asking price.