Hey everyone!
For our house construction, my father wants to transfer or gift me a part of his property.
This will be measured and transferred from the former farmhouse.
Of course, it will be officially recorded by a notary, etc.
This land is planned to be used as equity for the mortgage with the bank.
How does the bank determine the value of the land? Do they strictly use the official land value (land reference value / land registry value), or do other factors come into play?
For our house construction, my father wants to transfer or gift me a part of his property.
This will be measured and transferred from the former farmhouse.
Of course, it will be officially recorded by a notary, etc.
This land is planned to be used as equity for the mortgage with the bank.
How does the bank determine the value of the land? Do they strictly use the official land value (land reference value / land registry value), or do other factors come into play?
H
HilfeHilfe15 Aug 2018 16:02Yes, but as I said, there are booming regions and rural *no one wants to move there* regions. It’s possible that the bank will only estimate 15–20.
Golfi90 schrieb:
It depends on the size 😉 2000m² (21,528 sq ft) should really help, I think. Building land is usually calculated at 600-800m² (6,458-8,611 sq ft), with the rest being garden area. The land itself is then not very valuable. Especially in rural locations...
Who actually wants to buy or build there? What is the demand like? I have often seen houses that were expensively built in the middle of nowhere and later sold at a low price – a matter of personal taste.
C
Caspar202015 Aug 2018 21:33Golfi90 schrieb:
It is "dangerous," but our architect is handling everything.Outdoor areas are generally a no-go for many banks.
Golfi90 schrieb:
It depends on the size 😉 I think 2000 m² (21,528 sq ft) should definitely help.Yes; but roughly 1200 m² (12,917 sq ft) not at residential land prices.