Doubts and frequently asked questions
- All Appraisals are official since they are the valuations that are used by financial entities to grant mortgage loans. (They can grant loans that are not mortgages and with a simple valuation it is useful) For this reason, they must be carried out by Companies Approved by the Bank of Spain..
- The validity period of a Mortgage Appraisal is 6 months.
- According to the Royal Decree 775/1997 of 30 of may, according to Art. 2.2 Professionals: the architects, technical surveyors or architects, as well as engineers or technical engineers, depending on the nature of the object of the appraisal.
- The most important thing, as in all fields, is that the technician is qualified and competent in the field of assessment., as well as knowledge of the market and all valuation standards.
- The reference value can only be challenged when it has a tax effect., and is the tax base for Taxes on Property Transfers and Documented Legal Acts or on Inheritances and Donations. In the event that on the occasion of a transmission, the reference value operates as a tax base in these taxes, the subject acquiring the real estate (passive subject of these properties) You can challenge it before the corresponding tax administration, on the occasion of the rectifications of their self-assessments or the presentation of appeals against the liquidations that, if applicable, are carried out.
- This does not prevent, whenever, in case of disagreement with the descriptive data of the property in the Cadastre, the cadastral owner presents declarations or urges, before the General Directorate of the Cadastre, the cadastral review procedures provided for in the standard.
- NO. “The cadastral value of the properties is updated, in your case, by the General State Budget Laws, and serves as the tax base for the Real Estate Tax. It is protected data, so it is not published, and its revision occurs, in the case of urban properties, within the framework of collective valuation procedures” since it is not an individualized valuation, it cannot be a market value.
- According to the law 11/2021 of 9 July, they want to equate the reference value to the market value, completely illogical and unrealistic since the reference value of a home located on the first floor of a building without an elevator and in good condition has the same value as the home located on the fourth floor with an average state of conservation., In this comparison it is observed that the market value or what would be paid for said lives is very different.
