Frequently asked questions
General and validity(7)
Appraisals issued under Order ECO/805/2003 expire six months after the report's issue date (article 62). After that, they must be updated.
Of course. The appraiser will visit in person to check the property's current condition, assessing the renovations, quality of materials, state of repair and any improvement that adds value to the property.
Mainly an up-to-date Land Registry note for the home. If you don't have one, don't worry: it can be requested separately.
Yes. At Tasvalor we have a network of partner appraisers in every region, including the islands and the autonomous cities of Ceuta and Melilla. We appraise flats, houses, village houses, parking spaces, urban land, rural estates, industrial buildings and commercial premises throughout Spain.
Yes. We issue reports under Order ECO/805/2003, whether for flats, houses, land, industrial buildings or premises. If the appraisal is for a mortgage, the bank must accept it as long as it has not expired (art. 3 bis I of Law 2/1981).
Yes. We have a national network of architects, building engineers and local appraisers who know the property market of each city and its neighbourhoods well (Madrid, Barcelona, Valencia, Seville, Zaragoza, Alicante, Valladolid, Pamplona, Santander and Vigo, among others).
After the order, an appraiser contacts you to agree on the day and time of the on-site visit to the property.
Mortgage appraisal(18)
Yes. At Tasvalor we have a network of partner appraisers in every region, including the islands and the autonomous cities of Ceuta and Melilla.
Appraisals are valid for 6 months from the issue date of the appraisal report, under Order ECO/805/2003.
Two documents are common to all property appraisals: the Land Registry note and the cadastral reference (which you can find on the Cadastre's Electronic Office). Depending on your needs and the particular case, we may need some additional documents.
To have the data that identifies the registered property we are going to value in the cadastre. By law we must include several cadastral details in the appraisal report (identification, location, floor areas, annexes, cadastral value in some cases, etc.).
To apply for a mortgage from a bank; to determine the market value of a property in a sale; to find out the market value of a property when processing an inheritance; and to take out private insurance if the insurer requires it.
The customer requests the appraisal for a specific case, which determines the applicable regulations and the criteria, methods and procedures used to determine the appraised value.
Official mortgage appraisals can only be issued by appraisal companies approved and registered in the Bank of Spain's Register of Entities. Tasvalor is one of them.
For individuals, the most common are mortgages, sales, inheritances and divorces. The purposes regulated by Order ECO/805/2003 are listed in its article 2.
Certain assets cannot be appraised as mortgage collateral because they lack a stable, lasting value: usufruct rights; administrative concessions; surface rights lasting less than 20 years; grazing, water, firewood and similar rights; and buildings and installations that do not comply with urban planning. This is set out in article 11 of Royal Decree 716/2009.
Article 63 of Order ECO/805/2003 sets out the formal requirements: company name and Bank of Spain registration number; legal purpose; registry and cadastral identification; floor areas; valuation method or methods used; appraised value; conditions; issue date and validity; and signature of the issuing company's representative.
Residential, office, industrial and commercial buildings; buildings used for economic activities (hotels, clinics, funeral homes…); individual homes; premises and offices; construction, renovation or refurbishment works; halted works; rural estates; building plots and other land.
The PDF appraisal certificates and reports we issue carry a digital signature with a certificate issued by the Spanish Royal Mint (FNMT). The digital signature proves who issued the document and that it has not been modified after signing.
It is not mandatory, although implementing a quality system increases customer satisfaction and continuous improvement. Since 2001 Tasvalor has had a quality system in line with UNE-EN ISO 9001:2008.
The result depends on the condition of the property, the condition of the building, the floor area, its location, proximity to services, the energy certificate and the market situation.
Article 15 of Order ECO/805/2003 lists the following methods: the cost method, the comparison method, the income capitalisation method and the residual method.
You can pay online by debit or credit card.
You will receive it at the email address you gave us when ordering. You can also download it from the customer area. If you need it, we can send it to you by post.
No. Any bank must accept it if fewer than 6 months have passed since it was issued and it was carried out by an appraisal company approved by the Bank of Spain.
Indicative valuation(4)
The indicative valuation is a quick, inexpensive statistical study to know the recommended market price for selling or buying. The official appraisal requires a visit by an appraiser, follows the strict ECO regulations and is the only one valid for banks and courts.
No. By law, banks require an Official Appraisal (ECO standard). This indicative valuation is for your private use, to support your own decisions and market knowledge.
No physical inspection is needed. Our analysts calculate the value based on registry data, current market Big Data for your area, the cadastre and recent sales comparables.
As no on-site visit is required, the process is much faster. You will usually receive your full report digitally by email within 24 to 48 business hours.
Property appraisals(4)
The cadastral value is an administrative, tax figure used by the town council (e.g. for the property tax, IBI), and it is usually far from reality. Our property appraisal reflects the real value of your home on the open market today.
The appraiser will analyse the exact location, verified floor areas, the condition of the building (lift, building inspections), age, construction quality, recent renovations and the prices at which identical homes on your street have sold.
The price depends on the type of property (flat, villa or land), its size in square metres and its location. You can check the amount in the online order form before confirming.
No. Estate agencies give free "commercial estimates". For the document to have legal or mortgage validity, it must be issued by an Appraisal Company approved by the Bank of Spain, made up of independent architects and technicians.
Expropriation appraisals(4)
No. The law gives you the right to disagree and submit your own valuation statement ('Hoja de Aprecio'), together with our independent expert appraisal, to claim the real compensation ('Justiprecio').
Yes. Our reports justify, technically and objectively, the maximum legal value of your property, giving your lawyers the arguments to defend your interests before the Provincial Expropriation Board.
Ideally, contact us as soon as you receive the first notice of the expropriation project or the summons for the preliminary records, as the legal deadlines to claim are very strict.
Of course. Beyond writing the report, our expert appraisers can ratify the document and defend the methodology used against the Administration in court if necessary.
Inheritance appraisals(4)
It is vital to settle Inheritance Tax (ISD) and the municipal capital gains tax without risk of penalties, and to set a fair basis for dividing the estate among all heirs.
As the tax authority requires, our appraisers issue the appraisal "retrospectively". That is, using statistical and historical methods we calculate exactly what the house was worth on the date of death.
You can, but the Reference Value is often higher than the real market value. An official appraisal proves the house is worth less, which lets you claim before the tax authority to pay less inheritance tax.
It is common for whoever lives in the house not to provide access. The appraisal always includes an on-site visit to the property, so the heirs must agree on access. If that is not possible, ask your lawyer how to continue with the division.
Divorce appraisals(4)
An appraisal by an appraiser independent of both parties, with a visit to the property, gives you a justified value reference to negotiate the division.
The appraisal sets the value of the property. From that value, your lawyers or the notary calculate the compensation, taking into account the outstanding mortgage and the other terms of the agreement.
As it is an impartial document that benefits both parties in reaching a fair division, the most common practice is to split the appraisal fee 50/50.
It can be submitted in the proceedings, and the court will assess it together with the other evidence. Ask your lawyer how and when to submit it.
Energy certification(4)
Yes. By law in Spain it is mandatory to legally sell or rent any property. Property portals (Idealista, Fotocasa) also require it to publish your listing.
You face fines and serious penalties from your regional government, and the notary could even refuse to sign the sale deed if the original document is not provided.
Once registered, the Energy Performance Certificate is officially valid for 10 years (unless the home gets the lowest rating, 'G', in which case it must be renewed after 5 years).
An A rating means maximum efficiency (you spend very little on electricity or gas and pollute less). G is the worst rating. Don't worry: you can sell your home whatever rating you get; it is only for the buyer's information.
