Quote:
Originally Posted by Topcat1961
Hi there##
Has anyone had their property valued by a mortgage provider only to find it is valued at much less than the purchase price? Any guidance or advice on this? The Florimont Spa (Z Properties) has just been finished but the banks are valuing it at 18,000 euros less (it was furnished and apparently they don't take that into account, is it true that they also take off the 20% VAT as well?). I have put a 30% deposit and hadn't really expected this extra cost! Naive, I know but now I need to sort it. I'm assuming that the banks are doing this for all the appartments so the developer must be aware of this. Please don't reply with all the negative comments about Bansko, I loved the place! And am investing for the long term. Just some sound advice and any useful links would be appreciated.
ASAP please!!!!
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Hi There
We have just joined this forum, and have today received the same news that our apartment in Florimont has been valued at about 18,000 euros less than we were expecting as well. I had also heard that maybe the 20% VAT had been taken off, along with the furniture that we have already paid for.
I have read some stories on here about the price per square metre, and think that we may have paid full whack for our apartment. I am not too concerned about this, but would appreciate some honest opinions as to what a sensible price psm is at the moment.
If anyone else has had this problem, and/or can shed any light on what we can do, I am all ears. For all those who have fallen foul, we saw the light just in time, there are some better operators out there!
Thanks in advance!