DSL Bank takes a long time processing, now also sending surveyors for 200k

2022-03-16 11:05:59

Hi!

Is it normal, or why does a bank send an appraiser for an interior and exterior assessment?
Basically, the appraiser can only come up with a higher property value than the 600k I stated, because I was already rather cautious with 600k for comparable properties here in town. And we only want about one-third of this amount, so far from a loan-to-value of 50%.
That's why I keep wondering what should seem implausible to the bank? According to the standard land value, the plot alone is worth significantly more...

If interest rates hadn't risen so much since the application, I would be much more relaxed...

2022-03-16 11:12:17

That also happened to us, and in the end there was a rejection. According to the bank, the reason for the on-site appointment was that there were too few sold comparable properties for an evaluation. We had also received the plot below the standard land value, which was apparently also a question of how that could be. It was an endless back and forth with the Commerzbank.

2022-03-16 11:22:32

I forgot to write, it is about a follow-up financing. The house and the property will be worth more than 600k. We want 200k as a follow-up financing and as written, the property alone is worth more, you can calculate that very quickly. Somehow strange...

2022-03-16 11:39:50

Is it normal, or why does a bank send an appraiser for an evaluation of the interior and exterior?

Yes, for follow-up financing… (You did add that info afterwards…)

2022-03-16 12:33:55

Hi,

so for follow-up financing, the bank sets the conditions based on the current value, not the purchase price/cost price. And that can probably be lower.

so to have 60% remaining term, for 200 TEUR, the property should reach at least 334 TEUR value at the DSL Bank. Hmm, quite strange if you say it is worth 600 TEUR.

an internal and external inspection is ALWAYS done by the DSL Bank, but for loans under 400 TEUR only afterwards, i.e. after the contracts are signed and you have an approval from the DSL Bank. Before that, the banks do the work with the appraisal only if there is actually a significant downward deviation in the desk valuation (i.e. on the PC).

were the documents complete? Living area calculation? Floor plans with measurements? because if not, they may send a preliminary one confirming the values. (and take measurements).

2022-03-16 12:46:00

Hello,

so for follow-up financing, the bank sets the conditions based on the current value, not the purchase price/acquisition costs. And that can be lower.

so to have 60% amortization, for 200,000 EUR, the property should have a value of at least 334,000 EUR at DSL Bank. Hmm, quite strange if you say it is worth 600,000 EUR.

DSL Bank ALWAYS does an internal and external inspection, but for loans under 400,000 EUR only afterwards, i.e. after the contracts are already signed and you have a commitment from DSL Bank.
Before that, banks only do the work with the appraisal if there is actually a significant downward deviation in the desk valuation (i.e. on the computer).

were the documents complete? Living area calculation? Floor plans with measurements?
because possibly if not, then they send a preliminary one that just confirms the values. (and takes measurements).

According to my advisor, the documents are now complete. There were already additional requests that made us wonder why the bank wants so many documents. Like a cross-sectional drawing, or a site plan and cadastral maps.
The monthly rate for full repayment is under 30% of the income, so that can't be the reason either.

And such an appraisal also costs the bank money and here nothing is in short supply at all, actually a complete no-brainer for the bank.

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DSL Bank takes a long time processing, now also sending surveyors for 200k

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