How to value your property in Spain
The valuation of a property becomes a prerequisite when we go to apply for a mortgage on the property we want to buy. The appraisal will be made by an impartial official valuator appointed by the bank concerned, usually chosen amongst those known to them but also at random to ensure fairness in valuing the property.
It is important to distinguish between the purchase price and appraised value, since the latter is often more conservative than the first, not paying much attention to determining factors in choosing a property, such as the views that the property may have or decoration and equipment of the same.
Estate Agents that publish their property on LPG SPAIN can guide you through this process, since by their extensive experience, will give you a rough appraisal value before applying for your mortgage, thus providing real expectations of the amount that you can expect from your mortgage request.
Don’t hesitate to call an agent in your area for further information.