Home purchase financing with little equity?

nothing to do with 3 monkeys but if you say no you maybe have to explain the no sometimes ... at least a few have done that and that does make me think.

something different how does it work with the expert ... do I have to imagine it like this... I first look at a house (appointment 1) then it turns out that it could be an option, we tell the real estate agent that we are interested in buying but want to bring in an expert first, then I make a second appointment with the agent on short notice and bring an expert with me (?). how long does he need for this appraisal?

then he says wall damp, roof has a hole bla and the selling price of the house is 20K euros too expensive...

for that I spend 2000 euros and what does the agent or the homeowner do with that?

he is not bound by that and can say, then I sell the house to someone else who pays the full price? under certain circumstances that is also a time delay in which other buyers could snap up the deal?

but if you say no, maybe you also have to explain the no

Quite a few people have explained here...

The expert will probably be able to tell you the major defects during the appointment. And if he finds a lot, you will probably gladly do without the report and keep looking. Normally, you should have the exposé in advance and be able to assess whether you like the property or not. If you like it, arrange an appointment with the agent/owner and the expert. I wouldn’t waste time with 2 appointments. You can already take a look at the property and the area from the outside beforehand.

for that I spend 2000 euros and what does the agent or the homeowner do with it?

They won’t care, why should they? The hope is that someone else will take it for the price. Maybe you’ll be lucky and can lower the price a bit. Currently, we have a seller’s market, which often means "take it or leave it." And of course, the risk that someone buys the property in the meantime is always there, even without an expert. However, if your preferred property is still available (and it’s in the Ruhr area or Rhineland), that should already make you think.

Briefly about the expert: he will surely be able to tell you thumbs up or down, and the report detailing everything that needs to be done can also take a little while. A notary appointment can also sometimes take 4-6 weeks.

So the expert is primarily there to protect you. He says: Wall damp – then you know, we have to spend sum x. Or he says: The whole house walls are damp, then you know, aha better not buy! Moisture is not to be taken lightly, it destroys the building fabric and is a health risk – not to mention the uncomfortable climate. And the remedy is usually not done with 20,000 EUR, which would be your entire budget.

Secondly, of course, you can try to use it to negotiate the price with the real estate agent. As you already suggested, that depends on the market situation. As said, how long has the property been on the market? If it’s already been a while, then the chances might not be bad. But still: just because you can’t negotiate the price doesn’t mean you want to buy a damp house? Likewise, with your tight budget, you should hesitate to buy a house where the roof needs to be redone. That’s also easily 20,000 EUR. Where should the money come from in 3-4 years?

No offense meant. There is that show Schnäppchenhäuser, don’t know where it airs exactly, but there people always buy cheap houses without an expert, without a buffer for renovation costs, and in the end they all stand there dumb because they have no more money and the house is uninhabitable. Well, it probably won’t be that bad, but that can’t be the goal or rather it wouldn’t be worth the risk to me. (the show is actually more trash, but it illustrates the matter quite well here )

The process is correct – first look yourself and if you like it get the expert. The appraisal is done quickly. Usually the verbal report is sufficient.

I would still recommend: save more equity and then buy =)

Good luck to you!

EDIT: Robson was faster

So you don't have an expert yet. Well, there's already one monkey gone with his mouth shut.

Of course, the seller doesn't have to stick to that. However, then he will also be shown that his price is excessive and you might agree, for example, on €10,000 less. Maybe the expert will also save you from complete ruin if, for example, the expert detects dry rot.

In addition, the expert can roughly indicate what needs to be repaired due to damage/age, which mandatory renovations are due, and approximately how much that will cost.

The whole thing is primarily for information I know the bargain house show but they always pick out the extremes where people buy houses who have two left hands

Ah, here is the next monkey. I'm out, it seems everything has really been said, those who don't want to listen....