Inheritance & House Valuation - how does it work in Poland?

Hi everyone,

I really hope you can help me and my family. My wife is Polish, I am British and we live in the UK. She has inherited a house in Poland and owns it 50/50 with her brother. He plans on getting a mortgage to buy her half of the house. How does house valuation work in Poland? In the UK I would ask 3 local estate agents for their valuation and apply for a mortgage on the amount I chose to be most likely to be approved. Understandably we want to maximise her inheritance as it will make a real difference to our lives.

Any help will be greatly appreciated.

Even in the UK, a mortgage company will do their own valuation at your cost - it's no different here.

But won't that just be to confirm the value you have applied for?

Would you recommend trying different mortgage companies in case the valuations vary?

You can't get a valuation done in Poland. We don't even have proper property surveyors. I'd pay estate agents to value the property - but you'd have to be there when they did it, or they would chat with the person living in the house and undervalue it (for a little fee). I suggest a little holiday to Poland if you know what's good for you.

In Poland to take a mortgage you have to have your propert valuated by professional Property Valuer/Appraiser. Estate Agent can't do that - he doesn't have proper experience - in according to Valuer. Estate Agent can tell you more or less. the value of your property.

IDK but in states to take a mortgage one has to go through a bank appointed assessor and I am assuming same is in Poland also

hi,

first question where it the house. it is important. Secondly when he apply for the mortgage the bank will estimate property value. for the purchase I would advice at the beginning to do property valuation by your own by property valuer (not a real estate broker). This will help you to know what is the "real" price. it is also necessary to write a preliminary purchase contract. He might have problem in getting mortgage because this is "Family" transaction, and bank do not like it. Try in PKO BP and PKO Sa.

kind regards
DP

Before valuation ask bank if he accepts Appraisal Report from valuer you chose. In many cases banks have their own valuers, so it would be waste of money.