An authorised member of ANEVAR, usually from the bank's list of approved valuation firms.
Romania's valuation standards, 2025 edition, mandatory since 1 July 2025, including a guide for loan valuations.
The bank lends on the lower of the purchase price and the value in the report.
On a €300,000 home financed at 70%, a valuation 5% below the price means €10,500 more in your own funds.
Read the report, provide missing documents, ask about a second opinion, renegotiate, or fill the gap.
Property valuation in Romania: the short answer
Before granting a mortgage, a Romanian bank orders a valuation of the property from an authorised valuer, a member of ANEVAR, the national association of valuers, working under the Romanian valuation standards (SEV 2025 edition, in force since 1 July 2025). The bank lends on the lower of the purchase price and the value in the report. If the valuation comes in below the price, the difference is paid from your own funds or renegotiated with the seller. The valuation fee is paid by the borrower.
Buyers who have taken a mortgage in Israel know the moment: the appraiser comes, measures, photographs, and a few days later a number arrives that decides how much the bank will lend. In Romania the principle is the same, with local rules. I explain how it works, and what to do so that the valuation does not surprise you at the last stage.
Who values the property, and under which rules?
- The valuer. An authorised member of the National Association of Romanian Valuers (ANEVAR). Banks usually work with a list of approved valuation firms, and you choose from that list or the bank appoints one.
- The standards. The Valuation Standards (SEV), 2025 edition, mandatory for ANEVAR members since 1 July 2025. They include a specific guide for valuations made to secure a loan (GEV 520).
- The client. The report is prepared for the bank, even though you pay for it.
The valuer works for the bank's risk, not for your deal. That is exactly why the number is conservative.
What the valuer looks at
- Location: the area, access, nearby services and comparable sales.
- Comparables: recent transactions and offers for similar properties in the area.
- The property: usable area, land area, construction, finish, condition and energy performance.
- Legal status: land register extract, cadastral documents, building permit and acceptance documents.
- For new construction: the stage of works and the documents of the project.
Market value and the bank's lending
| Term | What it means |
|---|---|
| Purchase price | The price in your contract |
| Market value | The valuer's estimate of what the property would sell for under normal market conditions |
| Value for lending | The value the bank uses to calculate how much it lends; banks apply their own prudence on top of the report |
| Loan-to-value (LTV) | The loan as a percentage of the lower of the price and the bank's value, within the limits set by the National Bank of Romania |
The bank always lends on the lower figure. If the price is €300,000 and the valuation is €280,000, the loan is calculated on €280,000.
Example: what a low valuation means in money
An illustration only: a home priced at €300,000, with the bank financing up to 70% of the lower value.
| Valuation equal to the price | Valuation 5% below the price | |
|---|---|---|
| Price | €300,000 | €300,000 |
| Bank valuation | €300,000 | €285,000 |
| Maximum loan (70%) | €210,000 | €199,500 |
| Your own funds | €90,000 | €100,500 |
A 5% gap in the valuation became €10,500 more in your own funds. That is why the valuation belongs in the plan from the start, not at the end. On down payments, see our guide to the down payment in Romania.
What to do if the valuation comes in low
- Read the report. Check the area, the comparables and the documents the valuer used. Errors in area or in the documents happen.
- Provide what is missing. Plans, specifications, permits and a list of finishes can change the picture.
- Ask the bank about a second opinion. Some banks allow it; it is not a right.
- Renegotiate. A bank valuation is a legitimate argument in a price discussion.
- Fill the gap from your own funds, if the property is still right for you.
Off-plan purchases: when is the valuation done?
When you buy off-plan, the bank's valuation usually comes when the loan is drawn, typically close to completion, when the home can be valued as built. That means the valuation may come months or years after you signed the preliminary contract. Plan your own funds with a margin for that. On off-plan purchases, see our comparison of off-plan and ready property.
The valuer works for the bank's risk, not for your deal.
Financing for buyers from Israel
Financing from a Romanian bank for an Israeli resident is possible, and the valuation is one stage in the process. The loan and its terms are subject to the client's review and approval by the lending bank only. The full process, including documents and timelines, is in our step-by-step mortgage guide, and the monthly payment calculation in our article on mortgage payments in Romania.
Frequently asked questions
Who does the property valuation for a mortgage in Romania?
An authorised valuer who is a member of ANEVAR, usually from the bank's list of approved valuation firms, working under the SEV valuation standards.
Who pays for the bank valuation in Romania?
The borrower pays the valuer's fee, even though the report is prepared for the bank.
What if the bank valuation is lower than the purchase price?
The bank lends on the lower figure. The difference is covered from your own funds or by renegotiating the price. Check the report for errors and provide any missing documents.
Is the valuation the same as the price?
No. The price is what you agreed with the seller; the valuation is the valuer's independent estimate of market value, which the bank uses with its own prudence.
When is a new-build home valued for a mortgage?
Usually when the loan is drawn, often close to completion, when the home can be valued as built. Ask your bank how it handles off-plan purchases.
The bottom line
The bank's valuation is the moment when your price meets the bank's number. Understanding it in advance, the valuer, the standards and the "lower of the two" rule, keeps it from becoming a surprise at the last stage.
If you are planning to finance a purchase in Romania, book a 30-minute call with me. We will go through the financing plan together, including a margin for the valuation.
Moti Azulay, Compass Group Romania
Sources and data: National Association of Romanian Valuers (ANEVAR) · Valuation Standards SEV 2025 · National Bank of Romania (BNR) · BCR, guide to property valuation.
This article is for general information only and is not financial advice. Compass Group Romania is not a financial institution and does not grant or broker credit. The loan and its terms are subject to the client's review and approval by the lending bank only.
Now you know more.
This article is general information, not legal, tax or financial advice. Consult local professionals before any transaction.
