Bank Appraisal vs. Market Price in Bansko: Why is the bank giving less in 2026?

However, a week later, you get a "cold shower" from the credit inspector: „"We are sorry, but the licensed appraiser has determined a market value of the property of EUR 50,000. The bank will finance 80% from this amount, not from the price you agreed with the seller."“

This is not an exception, but a rule in the resort property market. In this article, we will examine in detail why the "gap" between the sales price and the bank valuation in Bansko is so common in 2026 and what strategies to use to avoid losing your money.

1. What actually is a "Market Valuation" for the bank?

Many buyers live with the misconception that the market price is the amount they are willing to pay. However, for a bank, the definition is radically different. A bank is a financial institution that is interested in one thing only: Liquidity and Risk.

When a licensed appraiser visits a property, they are not looking at it as your future cozy home. They need to answer the question: „"If the borrower stops paying his installments tomorrow, for what amount can the bank sell this property extremely quickly (within 3-4 months)?"“.

This is often called the „liquidation value“ and it is almost always lower than the optimistic prices in brokers’ listings.

2. Specific factors in Bansko that lower the rating

Bansko is a specific market that differs from Sofia, Plovdiv or Varna. Here, appraisers are instructed to be more conservative (stricter) due to the seasonal nature of the properties. Here are the main factors that "cut" the value:

Factor A: The furniture has no value to the bank

The seller may convince you that the kitchen was custom-made for 10,000 EUR and the sofas are Italian. You, as the buyer, appreciate this and are willing to pay more. However, the appraiser views the furniture as „movable property“ that depreciates quickly and can be moved or damaged.

In the mass case, the bank credits "walls and location." Luxury furnishings are rarely included in the appraisal at their real value, which automatically creates a difference between the seller's price and the bank's appraisal.

Factor B: The burden of the maintenance fee

This is the paradox of Bansko. In the luxury complexes, where there is a pool and a SPA, maintenance fee can reach 15-20 euros per sq m. per year. While this makes the property attractive to tenants, for the bank the high fee is a risk. It knows that properties with high fixed costs are more difficult to sell on the secondary market (lower liquidity), so appraisers often underestimate the value of such apartments.

Factor B: The problem with the "Gray Sector" in the past

Appraisers use the „comparative method“ – they check what prices transactions in the neighborhood have been declared at in the last 6-12 months in the Property Register. The big problem is that in the past many transactions in Bansko were declared at a tax assessment in order to save local taxes.

If the apartment next door was actually sold for 50,000 EUR, but according to the documents it was sold for 30,000 EUR, this distorts the statistics. The appraiser sees the low official price and is obliged to comply with it, which pulls down the valuation of your property as well.

3. Realistic calculation: How much money do you really need?

Let's look at the example with numbers to visualize the risk:

As you can see, the difference of 10,000 EUR in the valuation results in almost double magnification the money you need to have in cash (from 12,000 to 20,000 EUR), not counting notary fees and taxes.

4. Professional strategies: How to protect yourself?

Don't leave things to chance. Here are the three steps that every experienced investor in Bansko takes:

• Step 1: Express market consultation. Before you put down a down payment, talk to an experienced mortgage broker or a licensed appraiser in your area. Many banks offer a „preliminary appraisal“ service. For a small fee (around 50-100 BGN), an appraiser can look at the photos and location of the property and give you an approximate price range.
• Step 2: Protective clause in the contract. Try to include the following clause in the preliminary contract: „"In the event that the bank appraisal is lower than 90% of the sales price and the buyer does not obtain the necessary financing, the seller is obligated to return the deposit in full."“ Keep in mind that in a “hot” market, sellers may have a hard time agreeing to this, but it's worth a try.
• Step 3: Financial buffer. The golden rule when buying in a resort: always have an extra 10-15% of the property value set aside as a reserve. If the appraisal comes out good, this money will be used for renovations or furnishings. If it is low – it will save the deal.

Conclusion

The discrepancy between the market price and the bank valuation is not an attempt by the bank to lie to you, but a protective mechanism against market fluctuations. In the dynamic Bansko market in 2026, the most successful buyer is the informed buyer – the one who knows that the “list price” and the “value to the bank” are two different things.