What a mortgage valuation costs and what to do if it comes in low

A mortgage valuation (odhad nemovitosti) costs CZK 3,000–6,000 for family houses and non-standard properties, and most banks value ordinary city flats online for free or for a few hundred crowns. The bank commissions it from its own contracted valuer and uses only that figure to decide how much to lend: at most 80 % of the appraised (collateral) value, or 90 % if at least one applicant is under 36.

The purchase price serves only as a ceiling, since the bank lends from the lower of the two. A valuation takes 3–10 days, or happens straight away online for flats.

The thing to know in October 2026 is that valuations lag behind prices. Realised prices of older flats rose 14 % year on year in Q2 2026, and the valuer works from completed sales several months old. When the valuation comes in below the purchase price, the bank will not raise the loan: you cover the gap from your own funds, offer another property as additional collateral, or renegotiate the price.

Who orders the valuation and who pays

The bank orders the valuation, not you. The Consumer Credit Act requires the property to be valued by someone independent of the approval process, and banks meet that with a list of contracted valuers or an in-house valuation department. You supply the documents, give access to the property and pay the invoice, although some banks cover the cost during a promotion. A valuer you pick yourself from outside the bank's list will not be accepted, even if they are a court-appointed expert.

For standard flats in larger cities most banks now use an online (express) valuation. It works out the value from land registry data, floor area, the age of the building and a database of completed sales, without a visit, free or for a few hundred crowns, usually within two days. A valuer goes on site only when the model's result is uncertain: an unusual layout, a flat after a major renovation, a house with an extension, an area with too few sales. Family houses, plots, unfinished buildings and commercial premises are always valued by a person.

The report gives two figures. The market price (cena obvyklá) is what the property would sell for today; the collateral value (zástavní hodnota) is a conservative long-term value the bank expects to realise in a forced sale. Banks calculate LTV from the collateral value, which is usually lower than the market price. The valuation belongs to the bank, but you get a copy if you ask.

What the valuer examines

• Legal status on the title sheet (list vlastnictví): owner, co-ownership shares, liens, easements, pending flags (plomby), enforcement proceedings, whether the areas in the land registry match reality, and registered access to the property.
• Structural and technical condition: construction, age of the building, state of wiring and plumbing, windows, roof, signs of damp and renovations carried out (the valuer wants invoices and dates).
• Layout and floor area, including cellar, balcony and parking; for units the declaration of ownership (prohlášení vlastníka), for houses the geometric plan.
• Location: transport links, amenities, noise, planned construction nearby and, for houses, utilities.
• Comparable completed sales, the decisive method for flats. The valuer compares the prices actually agreed for similar flats in recent months, not listings.
• Energy performance certificate (PENB). A poor rating lowers the value, and at some banks it decides whether you qualify for a green mortgage.

Valuers use three methods: comparative (flats, standard houses), cost-based (the reproduction cost of the building minus depreciation, mainly for houses and construction) and income-based (for investment property, from achievable rent). For a flat in Prague, what counts is what similar flats a floor below sold for in the last six months, not what your kitchen cost.

When the valuation comes in below the price

The usual causes in 2026 are fast price growth that completed-sales data only catch up with later, a price that includes fittings and furniture the valuer does not value, overbidding between interested buyers, a new build in an area with no sales history, a non-standard layout, or a legal defect the listing did not mention. The valuer also works for the bank, which carries the risk, and in a hot market is more conservative than buyers.

The options, roughly in order of how often they work:

1. Top up your own funds with a gift (backed by a deed of gift), building savings or your reserve.
2. Negotiate the price down. A bank valuation is a strong argument, and a seller who knows the next buyer will run into the same figure will often give way.
3. Offer additional collateral (dozajištění) with another property, typically your parents'. The bank calculates LTV from both valuations together, which means a second valuation and a second lien registration for CZK 2,000.
4. Try another bank. A different valuer and method can give a different result, and differences of a few percent between banks are common.
5. Ask for an exception. Banks may exceed 80 % LTV for at most 5 % of loan volume per quarter, but they rarely do so and only for highly creditworthy clients.

How much of your own money you need at different valuation levels is covered in How much of a deposit you need for a mortgage.

Bank valuation, expert opinion or price map?

Be especially wary of a “valuation” from an estate agency. It is a recommended asking price derived from listings, not an appraisal, and it often sits a few to tens of percent above the bank's collateral value. That gap later turns up as missing own funds.

How long a valuation lasts and how to prepare for it

Banks usually accept a valuation for several months, some for up to a year, and ask for an update of an older one, which is cheaper than a new valuation. When you refinance, some banks accept the original valuation if it is recent and the property has not changed. So do not order a valuation “just in case” six months before you start looking. Order it once you have chosen the flat, ideally before signing the reservation agreement.

So that the valuer has no reason to mark the value down, prepare:

• the seller's title of acquisition, a floor plan or project, the declaration of ownership for a unit, and the geometric plan and occupancy approval for a house (the bank pulls the title sheet itself);
• the building's energy performance certificate;
• documents on renovations with dates and prices, because new wiring without an invoice is “old wiring” to a valuer;
• access to every space including the cellar, attic and garage, since the valuer photographs every room;
• a tidy flat with the blinds open. It sounds trivial, but the photos go into a report read by a reviewer who will never see the flat;
• for a house, information on utilities, well, septic system, access road and neighbouring plots.

Do not hide defects. The valuer will find them, and a concealed defect looks worse at review than one disclosed with an estimate of repair costs.

Can a valuation be challenged?

There is no formal appeal, but you can ask for a review. Through your banker or adviser, request a reassessment and attach what the valuer did not have: completed sales of comparable flats in the building or street (not listings), renovation invoices, a corrected floor area according to the declaration of ownership, proof of registered access. The bank's reviewer can adjust the value if the report contains an error or omission; “it seems low to me” is not enough.

If the review fails, you have two routes. One is another bank, whose valuer works with different comparison data and methods. A difference of a few percent is common, and on a CZK 5.5 million flat three percent on the valuation is CZK 165,000 of value and, at 80 % LTV, CZK 132,000 of loan. The other is negotiating with the seller. A bank valuation is often the strongest argument a buyer has, because the seller knows the next buyer with a mortgage will hit the same figure.

Going from valuer to valuer in search of one who will “give more” does not work. Every valuation passes through the bank's review, which cuts overvalued reports, and a valuer whose reports keep being marked down drops off the list. You would lose weeks, and in October 2026, with advertised rates rising (Hypoindex 5.79 %), money on the rate as well. See what a larger deposit or a lower price does to your payment in the payment calculation.