Pay the expert report out of your own pocket? Wood protection report

Hello everyone!

I just registered here and I’ll get straight to the point (Sorry!^^), because I need some advice.

I would like to buy a small house (79,000 EUR), but I don’t have any equity. I am 24 years old. In my opinion, a good age to take on something like this – but no one ever thought to arrange any kind of provision or anything for me, so my assets are quite limited.

I have now contacted my bank and asked about full financing and sent all the documents. "It looks good," they said initially. Now the bank wants me to provide a timber protection report. I am currently trying to find out how much something like that might cost, as I haven’t found any useful information yet – but I have already sent several emails to various experts.

But basically, I am wondering if I have to pay for that myself at all? For a house that doesn’t even belong to me (yet). If the report turns out bad, of course I won’t want to take the house and the bank probably wouldn’t pay either – and then I might have wasted a whole bunch of money for nothing. Can that be the case?

The real estate agent said that it seems to him that the bank wants to deny me the loan this way – in other words, to “deter” me.

What do you think? I don’t know what to do right now and wonder what others’ opinions are.

Best regards,
Eule

Hello,

this is not an easy question, but as fate would have it, I saw a report on television yesterday about such an expert opinion.

There, the buyer initially paid for the expert opinion himself and then successfully reclaimed it from the bank.

Regards Golf

Hi,

well, I can understand the bank a little bit because if the roof falls on your head, it will result in high costs and you certainly don't want that.

Even if the bank wouldn't require it from me, I would have commissioned an expert report for my own safety!!!

bye Cher

Hello! Thanks already for your answers.

@Golf: Yes, I could try again to come to an agreement with the bank. Maybe they’ll give me a bit of a break. Especially since many banks here also hire appraisers themselves and do so at their own expense.

@Cher: That’s probably true. But depending on how expensive something like that can get, I’m worried that I’ll spend a lot of money for nothing. And money isn’t that easy for me to part with either. But I could try to come to an agreement with the real estate agent on that...

Hello,

what does the real estate agent think about the whole thing, because if the bank wants an appraisal regarding the wood, then the whole thing must be somewhat dilapidated!

:( Hugo

The broker says, as mentioned, that this is a trick by the bank to stall me. He says that the bank should actually do it themselves. However, the broker is also in contact with other banks and wants to check for me there, because these banks apparently do the appraisals themselves. But now I wonder if he just wants me to do the financing with his "partner banks" or if he feels "on the safe side" there...