Real estate appraisals: discover the value of your property on the market.
A real estate appraisal is designed to obtain the true value of the property on the market.
When you buy a house and need to apply for a mortgage, the bank will ask for a real estate appraisal of the house in order to calculate the value of the mortgage that they will be willing to offer. At other times, such an appraisal may be needed privately in order to buy or sell a property, to be sure of the true value of the property on the market.
A real estate appraisal serves as a guarantee in order to obtain a true value before you commit to a mortgage.
Real estate appraisals are carried out by a specialist appraisal company that provides technical and legal assessments in order to determine the valuation of the property.
In Spain, there are several different values of a property that may be referred to. This can be confusing.
- Firstly, is the fiscal value, which tells us the minimum legal value of the property. This tax value must be applied for valuation purposes.
- Secondly, there is the market value, in which various factors, opinions, economic values, market movements and locations may need to be considered.
In many cases it is necessary to have a considered real estate appraisal issued by a qualified appraiser.
We recommend that you undertake an appraisal through one of the approved companies related to the real estate product that you wish to purchase.
This service is outsourced and overseen by us.
Consult us now for free.
Real Estate Appraisals, Reports and legal-technical actions
If you wish to buy a house it is important to obtain the appropriate technical reports about it.
Our team of architects and surveyors undertake the necessary technical evaluations to produce reports with information such as:
- Urban cadastral situation.
- State of the property.
- Possible problems or difficulties.
- Compliance with building regulations.
- Infringement files open with the Administration.
The aim is to be able to assess the property acquisition with appropriate protection and consideration of any possible associated risks.
It is important that you are aware of this information before acquiring a property, or otherwise, you could be take unknown risks that in the future could translate into serious economic losses.
In each individual case our technicians will evaluate which specific reports are necessary. These reports are also very relevant when carrying out new construction or renovation work.
The Energy Efficiency Certificate
The EPC provides essential information about the energy efficiency of the home.
This certificate contains an energy rating according to the scale of A to G, “A” being the highest level of efficiency and “G” being the lowest.
The responsibility for commissioning the EPC lies with the vendor (or the builder in the case of a new property).
Real estate agents must display the energy label assigned in their advertisement and it must be signed by a qualified technician who has the appropriate authorization.