Financing for house purchase

Good morning and thank you for your answers.

A truly binding commitment can actually only be made by the bank after it has inspected the house. Of course, it can say that with your equity and income you can get amount x from us. However, it wants to have the house as collateral by means of a mortgage and wants to know if the loan-to-value is correspondingly high.

Al

Not only is the construction industry booming, but financing as well. No bank can currently provide the necessary capacities as needed now. Therefore, it is completely understandable that it takes longer than 3 days. Have the bank give you a "basic financing commitment" and ask for it to be sent by "in 3 days."

Then you have a commitment for now. Without such a document, I would NEVER EVER sign a purchase contract.

The seller is a joker, but is currently in the stronger position in the market. Make it unmistakably clear to him that it is as it is. If he doesn't like it, he is not your right contracting partner. Do not let yourself be pressured. If it is not meant to be, then it simply should not be.

Negotiations at the notary? Who would want something like that? When you go to the notary, everything should be settled, including the purchase contract. A notary is not paid for negotiations, is he? Can you enlighten us, lawyer?

What is there really to clarify: usually just the purchase price and the accessories of the object being bought (possibly the allocation of the purchase price) and the handover date. You should indeed agree on that before going to the notary. But nobody needs a draft contract in advance for that. The rest (mortgage registration, priority notice, etc.) can be inserted into the standard contract during the notary appointment. It just takes an hour longer.

Negotiations at the notary? With us, the notary wanted to cancel the appointment because we were not 100% agreed on the handover date.

So what? In the end, it was signed anyway, right?

Good morning and thank you for your answers.

A truly binding commitment can actually only be made by the bank after it has inspected the house. Of course, it can say with your equity and income you can get amount x from us. However, it wants to have the house as security via a mortgage and wants to know whether the lending value is correspondingly high.

Al

The bank usually checks this already based on the submitted documents (exposé, building description, location plan, etc.). Of course, it depends on the respective business policy of the bank. My bank, for example, has never inspected the house.

The bank usually checks this based on the submitted documents (exposé, building description, location sketch, etc.).

Many banks also conduct an on-site inspection. Maybe not all, but this is the procedure here.