External valuation before loan approval?

Unfortunately, I have to follow up on the first post, because the basic idea is already correct that by retirement most of the financing (and thus the installment) should be done. This is not only in the interest of the bank, but also in your interest.

Our income is high enough, my partner is permanently employed, I only have a fixed-term position. However, I am a doctor, there are hardly any permanent positions for us and the job market is quite secure. But many banks only see ‘fixed-term’ and immediately reject it.

And now please don’t be mad at me, but now come a few harsh words that may not be entirely true, but at least partly close to the truth.

You are both probably in your late 30s, so after your studies (or whatever your husband does) you already have several years of professional experience. Without studies even more of that.
So I have not managed to save more equity in 10+ years? And you want to repay only with 2% despite historically low interest rates or set yourselves a limit of about 1500 euros per month? With this planning and your age, you are simply too late and have lived beyond your means so far. The salary of doctors is (no matter how bad the contract is) not among the worst salaries in Germany.

If you still want to build at this purchase price and at the current time, then make sure to increase the installment by about 500 euros. Then everything will also work out with uniquely good conditions at ApoBank. This bank is a gift for you. It doesn’t really get better, you just have to take advantage of it.

I would indeed only consider the inheritance later as a nice-to-have and not as a “to be evaluated component.” The advisor who seriously proposed that (and actually means it) should be tarred and feathered. Because such an inheritance is gone faster than the advisor or you can say Amen, unless there are millions lying around. But then you probably wouldn’t have the financing problem either.

Our income is high enough for a payment up to €1600, but no more. After 4 years of parental leave, I work part-time (31.5 hours). Overall and calculated to full-time, I simply don't have 10+ years of professional experience. My husband hasn't studied, is only 32 years old, and was incapacitated for 2 years (completely recovered, no risk for the future). Together we have a net base salary of €4000, with overtime without strain €500 more, anything beyond that would be tough long-term with children.
The plan with equity was different, but then 3 years ago I left my first marriage with a paid-off car and €10,000, moved into an unfurnished apartment, and had lawyer bills of €6000. And rent here costs €10/sqm including utilities.
Not all parents like to give money, no matter how much they have.

Some banks will see it this way: two small children, part-time work, a man who has had major health problems in the recent past and with whom the woman has not lived together for very long, a failed previous relationship (also already involving house construction?), parents who do not fully support one, together make a significant obstacle to which a quite high financial mortgage for a fairly expensive house is supposed to be added. So the bank demands all additional securities it can seize. Maybe they will also come up with something new once you have the [Wertgutachten] done. This way, customers can sometimes be rejected without having to be rejected directly. Actually logical, from the bank's point of view. Maybe it makes sense to start new adventures more slowly, so that things do not happen again. thinks Sylvia

Hello, what are the chances that you will get the loan with the [Wertgutachten]? If it pays off after 2.5 years, I would personally prefer it!

What I don't understand is why the bank needs a [Wertgutachten] for a new property? Is there a lot of personal contribution involved? Can't the architect make plans/cost estimates that might be sufficient for the bank?

Can you possibly commission the [Wertgutachten] yourself?

Please don’t take it the wrong way, but with your conditions, I wonder whether it really has to be a house + land for which you need a loan amount of €450,000. Maybe something cheaper or an existing property would do?

Because: you only have €40,000 in equity, which maybe just covers the additional costs. That means it will be a 100% financing or even more if you add a little buffer. Your salary of €4,000 is not bad, no question. But for the loan amount, maybe it is not high enough as a family. In addition, at least most of the loan should be paid off by retirement, which would be about 25 years. And the desired installment is a bit too low for the loan amount for my taste.

What I cannot understand and don’t really believe either is that the bank has a problem with your fixed-term contract. The problem is probably just the overall situation. As a doctor with a fixed-term contract, this was never an issue at any bank we went to.

I would indeed only consider the inheritance later as a nice to have and not as a “to-be-assessed component.”

I see it the same way. Who knows what circumstances might arise that the inheritance will be partly or even completely used up. Whether it’s an expensive care situation or the money is spent on a world trip or something else.

What I don’t understand is why the bank needs an appraisal for a new property? Is there a lot of own work involved? Can’t the architect make plans/cost estimates that might be enough for the bank?

I don’t understand that either. Maybe toxic can say something about it.

Hello,

... but it requires an appraised value report, which I have to order and pay for.

What is the bank’s justification for requiring this report? Usually, it is only requested when buying a used property.

If you continue to have problems – I assume it is a communication issue – with your banks, accept Tox’s suggestion and find an independent financer. If you have no contacts in this respect, let me know where you want to build; if necessary, I can put you in touch with our financer.

Rhenish greetings