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The appraisal, technically known as a valuation report, is a document signed by a competent professional to do so and its objective is to justifiably establish the value of an asset, in accordance with previously established criteria and developing an appropriate methodology for the proposed purpose.

The appraisal of an asset is subject to strict legal regulations that not only establish the criteria and methodology to carry it out, but also establish who can do it. This regulation, which in Spain is constituted by a Ministerial Order dated November 30, 1994 issued by the Ministry of Economy and Finance, is a regulation that establishes a specific methodology based on definitions and principles that inspire its drafting.

The appraisal value is reflected in a certificate that may contain observations, warnings or conditions, if there are aspects on which a comment should be made, pending documentation or questions that must be definitively resolved so that the calculated value is firm for the specific purpose for the the valuation report is issued.

A mortgage appraisal is an appraisal of a property so that it is the object of guarantee in a mortgage loan. Through this assessment, the lender, normally a financial institution, knows what the value of the loan collateral is and what risk it assumes with the mortgage operation.

The mortgage appraisal has no other purpose than to serve as a guarantee for the mortgage loan, being totally independent of the amount for which the hypothetical economic purchase-sale transaction or the accrual of taxes that it entails is carried out. Banks typically lend 80% of the appraised value.

A mortgage appraisal is carried out by an independent professional, who must meet certain requirements established by law. Generally it will be an architect or technical architect, and will belong to a property appraisal company, which are registered with the Ministry of Housing.

Real Estate Appraisal Companies must be public limited companies with a corporate purpose limited to the valuation of all types of goods, companies or assets.

They are required to have a minimum structure and have civil liability against third parties derived from the appraisal activity. These companies must be approved by the Bank of Spain, where they are registered in the corresponding official register. They are subject to the supervision of the Bank of Spain.

The factors that influence the valuation of a property are:

  • The ubication.

  • The nearby services: green areas, leisure places, school services, doctors, supermarkets ...

  • The surface: m2 and distribution, whether or not it has a garage or storage room ...

  • The quality of the building materials.

  • The situation of the property within the building: it is more valued if it is south facing and the upper floors.

  • The antiquity.


  • Comparison method: it is the most widely used method and consists of valuing the asset that is the object of the appraisal by comparing it with other assets of similar characteristics whose value is known. The regulations require at least 6 “witness properties” that will be weighted by coefficients to make them similar to the asset being valued. With this, we will obtain a unit value of the m2 of property that multiplied by the m2 of the property being valued will mean its market value.

  • Residual method: when the comparison method is not possible, since it is not possible to find enough control properties with similar characteristics, the residual method is usually used. It consists of calculating the value of the property with which the construction would have once completed and subtracting the expenses that must be incurred for the property to reach that state

  • Capitalization method: when the property is capable of producing income and the amount of the same can be estimated in a logical way, the capitalization method is used. It consists of calculating the value of the property by updating to the appraisal date all the net income that the property will generate through economic formulas. It is a method for the valuation of large businesses

  • Cost method: the cost method is seldom used exclusively, but rather as a support to the appraiser that the valuation that he has made by the comparison method makes sense. It consists of calculating the cost of relocation or replacement of the property under evaluation


The checks carried out in appraisals include the following technical and legal aspects:

  • locate the home, checking that it really exists

  • The house is visually inspected by a competent technician, who checks:

  • Its surface

  • Other features; distribution, number of bedrooms and bathrooms, construction qualities, visible facilities ...

  • Its apparent state of conservation, and its constructive state (whether or not it is finished)

  • The existence of visible easements that could affect the value.

  • The technician checks if the home he has visited matches the description that appears in the documentation used to carry out the appraisal, among others with the registry and cadastral

  • The state of apparent occupation of the property and the use to which it is intended at the time it is visited is also checked

  • If you are investigating whether the home is subject to any public protection regime that could imply limitations on its value.

  • The adequacy of the property to the current urban planning is confirmed, checking if there is any point in this regulation that could affect the value of the home. Among other issues, it is checked whether it is subject to an architectural heritage protection regime that entails special obligations for the owner

In order to carry out the appraisal, the appraiser must have the registration documentation of the property that is the object of the appraisal, either a copy of the property deeds or a simple note issued by the registry. Said documentation must be provided in the appraisal report and in the case of the simple note it should not be older than three months between the time of its issuance and the date of issuance of the appraisal report.

In the case of homes subject to public protection, the administrative documents that allow determining the maximum price for sale or rent.

CERTASVAL performs appraisals with all methods and purposes, whether they are single-family homes, isolated homes, block dwellings, premises, lots, unfinished works, etc., by the different existing methods contemplated by the ECO 805/2003 regulation and for market values ​​for purchase and sale, divorce, inheritance, administration, finance, taxes, courts etc ...

Do not hesitate, get in touch with us if you are interested and we will help you from the beginning to the end so that the appraisal you demand adjusts to your needs. You will not regret it, I will be happy to help you. Your satisfaction will be an achievement and one more goal achieved in my extensive professional career. Animate I wait for you Call 601093372.

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