Now banks no longer play along with the high house prices

Sometimes I wonder if banks even know how to do valuations

I, as a banker, can say: give the same house to 5 banks for an appraisal, and you will get 5 different numbers )) even if the banks use the same valuation systems, it can happen that they get different numbers, because Bank A applies a 10% discount, Bank B 12.50%, Bank C 20%. and yes, slowly prices at banks can be adjusted upwards just as quickly as they develop in the market. I, as an independent mortgage broker, always first do my own valuation (using 2 systems = 2 different values) to see whether it can be accepted by every bank or not. because if someone buys a house for 350,000 EUR, and its valuation is only 280,000 EUR, and the customer wants to finance 350,000 EUR, many banks will back out (unless the customer earns very well... but if he earned that well, he would also have more equity ))

Commerzbank sends someone who takes photos. It was even an appraiser. Lucky for us. This is how we got an appraiser for the ground.

Commerzbank sends someone who takes photos. It was even an expert. Lucky for us. That’s how we got an expert for the floor

90% of banks send someone who actually takes a closer look (the rest only superficially)

often after the purchase (depends on the loan amount).

and Commerzbank, DSL, Sparkassen, Volksbanken are thorough, they also want to look inside

In 2017, ING also sent someone to us who took photos from the outside, we were informed about this. At that time, ING valued our house almost down to the euro at the amount we paid. However, we bought significantly below market value back then, which was probably our luck. They would not have financed it for us at the actual market value (it was full financing) without correspondingly high equity.

90% of the banks send someone who actually takes a closer look (the rest only superficially) often after the purchase (depends on the loan amount). and Commerzbank, DSL, Sparkassen, Volksbanken take it seriously, they also want to inspect it from the inside

It was a new building. I find it okay.

I don't think so. We just bought a house, the bank didn't want to see it. When refinancing our other house, the bank at least wanted some photos, or rather took some from the outside. But no one wanted to go inside in either case (for the first house, luckily, one must say, as it's a perpetual construction site).

No one from the bank came anymore after I sent them some photos..