Why the bank requires a valuation
In a mortgage loan, the property serves as security. The bank lends based on a percentage of the property's market value, so it needs an independent, well-founded valuation rather than a price named by the seller. The valuation also protects you, since it shows whether the purchase price matches the actual market situation.
A valuation is also required when refinancing a loan with another bank, when taking out an additional loan against existing security, when a loan is being reviewed, and whenever the bank requests an updated value for its security.
What documents we will need
- Land Register certificate for the property
- Floor plan or the cadastral survey file
- Land boundary plan, if a house or land is being valued
- Purchase or deposit agreement, if the property is being bought
- The bank's name and the loan officer's contact details
- Details of any renovations, alterations or undeclared floor area
How the process works
We respond to enquiries within 2 hours, arrange a time to view the property and agree on a deadline for the valuation. The valuer inspects the property, takes measurements and photographs, checks whether the documents match the actual situation, and prepares the valuation. We send you the finished document and, if agreed, send it directly to the bank as well.
We print all valuations on special forms with authenticity holograms. This protects you and the bank against forged documents and ensures the valuation's legal standing in future transactions too.
Which banks we work with
We work with Latvia's leading financial institutions. Our valuations are accepted by SEB, Luminor and Bigbank, as well as other leasing companies and financial institutions across Latvia. If your bank has its own valuation format or additional requirements, mention this in your enquiry and we'll take it into account.
What affects the value submitted to the bank
- The property's location and demand in the neighbourhood
- The actual floor area and whether it matches the documents
- Technical condition and any investments needed
- Legal situation: encumbrances, easements, co-ownership
- Unauthorised alterations or unregistered floor area
- Actual transactions for similar properties in recent months
How the valuation fits into the loan process
The usual sequence is as follows: you receive an initial response from the bank about your loan options, then the property valuation is commissioned, and only then does the bank make its final decision on the loan amount. It's therefore worth commissioning the valuation once you have a specific property and its documents in hand.
If the seller has already provided an older valuation, banks usually request an up-to-date one, since market conditions change. Updating an existing valuation is quicker than starting entirely from scratch, if we're already familiar with the property.
Why clients choose PRO MOTION
We are a bank-recognised partner with more than 15 years of experience, and we know exactly what lenders want to see in a valuation. That means fewer follow-up questions, fewer corrections, and a faster path to a loan decision.
Each client gets a personal valuer who explains the result in plain language. If the value turns out lower than expected, we tell you why and which factors influenced it, so you can make an informed decision.