ᐅ Paying for an Expert Report Out of Pocket? Timber Protection Assessment
Created on: 29 Jan 2009 22:35
E
Eule84
Hello everyone!
I just registered here and want to 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 savings. I’m 24 years old. In my opinion, it’s a good age to take on something like this – but nobody ever really planned or arranged any financial provision for me, so my assets are very limited.
I’ve now approached my bank to ask about full financing and sent in all the required documents. At first, they said “It looks promising.” But now the bank wants me to provide a wood protection report.
At the moment, I’m still trying to find out how much something like that might cost, but haven’t found any reliable information yet – although I’ve already sent a few emails to various experts.
Basically, I’m wondering if I have to pay for this report myself at all? It’s for a house that doesn’t even belong to me yet. If the report turns out negative, of course I wouldn’t want to take the house, and the bank probably wouldn’t approve the financing either – which means I might have spent a significant amount of money for nothing. Is that possible?
The real estate agent said that, in his view, the bank might be using this as a way to deny me the loan – kind of “discouraging” me.
What do you think? I’m really not sure what to do right now and would like to hear what others think.
Best regards,
Eule
I just registered here and want to 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 savings. I’m 24 years old. In my opinion, it’s a good age to take on something like this – but nobody ever really planned or arranged any financial provision for me, so my assets are very limited.
I’ve now approached my bank to ask about full financing and sent in all the required documents. At first, they said “It looks promising.” But now the bank wants me to provide a wood protection report.
At the moment, I’m still trying to find out how much something like that might cost, but haven’t found any reliable information yet – although I’ve already sent a few emails to various experts.
Basically, I’m wondering if I have to pay for this report myself at all? It’s for a house that doesn’t even belong to me yet. If the report turns out negative, of course I wouldn’t want to take the house, and the bank probably wouldn’t approve the financing either – which means I might have spent a significant amount of money for nothing. Is that possible?
The real estate agent said that, in his view, the bank might be using this as a way to deny me the loan – kind of “discouraging” me.
What do you think? I’m really not sure what to do right now and would like to hear what others think.
Best regards,
Eule
Eule84 schrieb:
The real estate agent said, as mentioned, that this is a tactic by the bank to stall me. He says that the bank should actually handle it themselves.
However, the agent is also in contact with other banks and wants to inquire on my behalf because those banks apparently prepare the appraisals themselves. But now I wonder if he just wants me to arrange financing through his "partner banks" or if he feels this way is the "safer" option...Hello and welcome to the forum.
Personally, I wouldn’t trust the agent; it’s always easy to blame the bank for everything.
Best regards, PVC
Yes, unfortunately, I haven't found an appraiser in my area who does this kind of work. But I have read that it can cost anywhere from a few hundred to a few thousand euros. I guess I’ll have to forget about it if the bank or the real estate agent doesn’t contribute, because I can’t afford such an appraisal.