Property appraisal by the bank

Hey fpno, I think you misunderstood something. We had two viewings with the owners who are selling the property privately without an agent. The owners only commission Mr. for the written part (notary, etc. whatever is required). We don’t pay anything to him, which you would normally do with an agent (agent fee)

By the way, I would always recommend taking an expert for the second inspection when purchasing a used property. As a buyer, one often does not have the knowledge/experience to assess the actual condition of a property or to estimate the financial effort required for repairs/renovations.

So, our idea of buying a house didn’t come up overnight. It goes back two years. Unfortunately, we don’t have any equity because we never managed to save anything due to not-so-good income (which is understandable in Mecklenburg). We are only 22 and 25 years old. Now, for almost a year, we both have good jobs in the same place with a good income, around 2700 € in total. We do have building savings contracts, but not much has been paid in, so you can’t really say that it can be used as equity. We can afford a monthly rate of max. 900 euros. The lady from the bank told us that with a fixed interest rate for 10 years and a loan amount of 150,000 euros, the payment is just under 600 euros. I read something on the internet about 120% loan-to-value that some banks do, but the interest rates rise because of that... If it’s simply not possible otherwise, we would have to take out a normal loan. Not ideal, but oh well... I’m curious what the bank will say later; I’m still missing the pictures, the measurements of the house, and the land registry entry. But the sellers have a gentleman who handles everything and will get in touch with me.