Land Market Price vs Land Guideline Value

Does anyone have experience with how banks (financing) evaluate the sometimes greatly outdated standard land values?

With us, ALL banks, about 6-7, only used the BRW (BRW: €100 / sqm; market price: €300-400 / sqm). Some even only 60-70% of the property value. I haven't encountered any that calculate using the current purchase prices.

Any bank can do that however they want. How they calculate it doesn’t matter in the end, the cheapest bank gets the contract :)

Any bank can do it however they want. How they calculate it does not matter in the end, the cheapest bank gets the contract :)

Exactly. It probably also depends on how far they want to spread their wings in the area or if it is simply just an "additional income." I have still never experienced a bank paying the market value. Also, there were no chances with us, for example, to meet in the middle at, say, €150 - €200 / sqm.

Well, basically there is a standard plot of land for every BRW, meaning a standard size, width, and depth. For deviating values, you can then refer to corresponding adjustment factor tables. However, it is only recommended to make one adjustment! Alternatively, sometimes garden land is deducted or additional building plots, depending on the property. On the market, however, this may bring little, because you pay full price!

BORIS is updated annually, usually around March of a new year. It is always a retrospective look at the actually notarized purchase contracts.

Are there different "Boris" systems?

I had checked for our property and it says as of: 12/31/2017. When we bought the property at the end of 2018, that was okay. But now I somehow can't find anything current..

Are there different "Boris" systems? I had checked for our property and it says as of 31.12.2017. When we bought the property at the end of 2018, that was okay. But now I somehow can't find anything current..

In Brandenburg, it is also updated annually. Maybe a different Boris is responsible for you than for us. Possibly Boris Becker? 8-)