Buying or Selling - Some Tips on Getting a Polish Property Valuation
Whether buying or selling, it's a good idea (and required if getting a Polish mortgage) to get a good independent valuation. And strangely, not all valuers are created equally.
You are Selling
Whilst you don't "need" a valuation, it can be difficult to decide on the optimum price to sell for. Your agent will advise a price that they believe will get you to offer the property exclusively through them. This is their first goal and they know they can change the price later.( We note the better agents realise this is self defeating and should be more market based in their appraisal)
Looking at other nearby properties for sale on a search engine may help for standard apartments but for houses with gardens etc it may be harder to judge.
Another advantage to getting a valuation is that it can help with negotiations. The banks take the valuation to calculate the home loan so a buyer cannot negotiate too far away from the price by claiming that they only have X to pay etc.
If you ensure that the valuer that you hire is accepted by ALL banks you may be able to sell the valuation report to the eventual buyer to use when applying for their home loan.
You are Buying
If you are getting a Polish mortgage then you will definitely need a valuation.
The first rule is that you should get a valuer that is accepted by all banks. Some valuers are only accepted by some banks and not others despite having the same qualifications. Your application for a home loan will probably go to more than one bank so this is very very important.
It is unlikely that you will get a valuation on every house you view but knowing how much you can borrow will be determined by this report so it's a little bit chicken and egg.
If you are unhappy with the valuation feel free to argue. The reports are pretty detailed but there may be some overlooked aspects that you can point out.
Costs of valuations can vary wildly depending on the property etc so it is worth shopping around. Obviously the ones that are accepted by all banks are more expensive but at the same time, may save you money down the line. A good indication is anywhere between Zl. 500 and Zl. 1,000 depending on size etc..
Where to find them
The best place is through your Polish Mortgage Advisor rather than a real estate agent. The valuation is to get a mortgage and the mortgage adviser wants you to get one so they should recommend the most suitable professional for your needs.