Finance another house...

Let me know when you have arrived there - I'll wait as long as necessary.

Best regards
Dirk Grafe

I don't need to, I already am. The OP should try that sometime and make the phone ring off the hook.

I don't need to, I already am.

In terms of property valuation, your supposed realism can only be described as a constant annoyance. Among other things, I am a moderator for this field because I have the relevant training and daily professional practice, just like . Strangely, wpic does not contradict me, nor do I contradict him—at most, we complement each other with nuances, even though we approach the topic professionally from different perspectives.

With you, on the other hand, I find myself every second asking whether I should simply delete your posts without comment or if one should—once again—bother to make your obvious contradictions and knowledge gaps transparent for other readers.

The second option is significantly more time-consuming, but with you it is obviously a lost cause; therefore, I tend to apply the first option now and then in the future so that the discussion(s) can be guided more purposefully toward the goal/solution.

Face it: although you work in a bank, you are a complete layman on the subject of property valuation, and you repeatedly write such absurd nonsense on these topics in various threads that my hair stands on end while reading. That is not bad for laymen; laymen have the right to be ignorant—but whoever, like you, continuously lets their professional experience at a bank show through, I expect at least to know the basics and to be able to present them correctly.

That is almost never the case with you.

Of course, we can also switch places—I become a regular user, and you take over my mod duties on these topics. I just fear that the operators have no special interest in that.

Your choice. Dirk Grafe

Regarding real estate appraisal, your predetermined closeness to reality can only be described as a continuous annoyance. Among other things, I am a moderator for this field because I have the appropriate training and daily professional experience, just like . Strangely enough, wpic does not contradict me and I do not contradict him—at most, we complement each other with nuances, although we approach the topic professionally from different perspectives.

With you, however, I find myself questioning every second in almost every one of your posts whether I should simply delete it without comment or whether I should once again take the trouble to make your obvious contradictions and knowledge gaps transparent to other readers.

The second option is considerably more laborious, but obviously wasted effort with you. Therefore, I tend to occasionally apply the first option in the future, so that the discussion(s) can be guided more purposefully towards a goal/solution.

Finally realize this—you may work in a bank, but you are a complete layman on the subject of real estate appraisal, and you repeatedly write such nonsense on these topics in various threads that my hair stands on end while reading. This is not bad for laymen, as laymen have the right to ignorance—but if you, like you, repeatedly let your professional experience at a bank shine through, I expect you at least to know and correctly present the basic things.

That is almost never the case with you.

Of course, we can also switch roles—I will become a regular user and you take over my mod duties for these topics. I just fear that the operators have no particular interest in that.

Your choice.
Dirk Grafe

Why are you so domineering? A real estate appraisal, even in our company, is currently distorted. The property is valued using risk models to, for example, form provisions. In part, these valuations are long outdated. Why is that? Because financial institutions use a mix of retrospective historical values and consider the current market situation. When determining the mortgage lending value for finding conditions, the decisive factor is again the value of the property (purchase price/new build) in relation to the loan. But that has nothing to do with the value. The bank can give you a 90% condition; they value the house much lower.

Briefly about my case: purchase of a new build in 2013 with 10% equity. The bank called and wanted more equity to be used because the new build does not correspond to the purchase price and deductions are made. Two months ago, I carried out the refinancing to 2019. Different bank, lower loan amount, I audaciously stated the value of the property 60k higher than the purchase price at that time. Upon inquiry, it was no problem. The second bank valued the property as such. Lo and behold: two banks, three years apart, and 20% increase in value in a rural region. Either bought well or the appraisal is different in every company.

Why is it now generalized, not only by you, that real estate prices have risen everywhere, so it should be sold for a profit? That is a myth. I live about 60 km from Frankfurt, here are countless detached houses that have been inherited, lie empty, and nobody wants them. It may be that they are worth more on paper (substance, equipment, etc.), but after 1-2 years of vacancy, they cannot be sold at these prices.

Then all banks should be happy about the valuable properties on their books.

I also always wonder why these tips come for a high-earner who is already struggling when it comes to renovation like "Rent it out, build new in parallel, sell the property and get rich." That is reckless; he should weigh everything carefully.

What you do professionally does not interest me at all, and I do not attack you in this regard. You should show a little more respect. A forum lives from different opinions. I also do not believe I give only stupid answers, rather ones that you simply do not like personally. Either I am not welcome here, or you do not understand your hobby as a moderator.

I do not want to be attacked personally here,

Thank you!

I just want to briefly say one thing about property valuation. If you have 3 appraisers, you get 3 value reports that can differ significantly. In a case known to me personally, a condominium was valued between 60,000 and 140,000 within 2 months without any change to the property. Any questions?

I just want to say one thing briefly about property valuation.
If you have 3 appraisers, you get 3 valuation reports that sometimes differ widely.
In a case personally known to me, a condominium was valued between 60,000 and 140,000 within 2 months without any changes to the property.
Any questions?

THANK YOU! Finally a case from reality!

By the way, this is the case with all traded assets.

What you do for a living interests me 0 [...] Either I am not wanted here or you don’t understand your hobby as a moderator.

You don’t get at all what this is about. Hobby? Moderation here is not just a hobby, but the subject areas are assigned to specialists who are also knowledgeable in the specific field, so that there is added value for all users. The fact that we do this as mods on a voluntary basis does not change the fact that corresponding expertise is a prerequisite to get involved here as a mod.

Your previous post also proves – again – how you argue: Your own [property] rises in value, you downgrade the OP’s property to bargain basement level. Under the same conditions.

That is inexplicable in the best sense.

That is negligent, he should weigh everything up.

Yes, exactly – as I already described. But how should he weigh everything up if his property is allegedly valued at under 70% of the purchase price, as you suggest? If that is the case – which you should be able to explain based on plausible assumptions – then a sale (without massive losses) is indeed off the table. Which would mean that he would _not_ be able to weigh everything up.

However, that is illogical, unless the OP is giving false information from A to Z. To assume that – even though he obviously needs assistance in his situation – I cannot comprehend, ergo:

The house is highly likely to be sellable at a market price with which the loan can be repaid.

Best regards
Dirk Grafe