Spanish Property Valuation

Official Valuation

When is it necessary?

The official valuation of a property is necessary whenever it is necessary to know the real and objective value of a real estate asset.

The most common cases are as follows:

• When a mortgage is to be taken out or extended.

• In some cases of novation or subrogation of the mortgage.

• When you want to use a property or real estate as collateral.

• In case of seizure of the dwelling.

• Inheritance distribution, divorces.

• Valuation for the sale of the property, etc.

Purpose of the valuation

The purpose of the valuation is determined by the client and is subject to the regulatory framework in force. The purpose of the valuation is what defines the focus of the work to be carried out subsequently, the valuation methodology and, consequently, the applicable regulations.

General principles and rules

Period of validity

Six months from the date of issue of the valuation report. Once the six months have elapsed, the report can be updated, at a lower cost, after a visit to the property.

Six months from the date of issue of the valuation report. Once the six months have elapsed, the report can be updated, at a lower cost, after a visit to the property.

Necessary documentation: Dwelling/ Flat

Before the appraiser visits the property, it is advisable to have the necessary documentation ready so that the appraisal process can be completed as quickly as possible.

In the case of a dwelling, the required documentation is as follows:

• Registration certificate, updated nota simple or deed.

• Cadastral documentation.

• In the case of VPO, a photocopy of the definitive qualification certificate will also be required.

• If the property is rented, a photocopy of the rental contract, the latest rent receipts, payment and expense statements are also required.

For other types of property, other than a dwelling, you can consult the necessary documentation in our valuation glossary.

Parts of an Appraisal Report

How do I receive my property valuation?

The valuations ordered through the website will be sent to the client in pdf format by e-mail. If you are interested in receiving it printed and bound, there will be an additional charge. Please request it at This email address is being protected from spambots. You need JavaScript enabled to view it..

In order to ensure the authenticity and integrity of all valuation reports and certificates issued by ST Sociedad de Tasación, these incorporate the electronic signature of the independent professional (valuer) who carries out the valuation.

What does a Valuation report look like?

The valuation report is issued in digital form. It will bear the letterhead of the valuation company that has produced it, as well as the number of pages it contains.

In our case, the reports that are requested online are carried out by an independent appraiser and are subject to the internal control of ST Sociedad de Tasación.

Below are some examples of our valuation reports:

• Example of Appraisal in English.

Is an appraisal acquired through ST Sociedad de Tasación accepted by any financial institution?

ST Sociedad de Tasación is approved by the Banco de España, so any financial institution must accept the appraisal purchased on this portal, provided that it has not exceeded the period of validity and without prejudice to the institution carrying out the checks it deems appropriate.

Can I request an valuation directly from a valuation company without a bank?

Of course. Valuation companies provide services to financial institutions, companies and individuals alike.

Is the value obtained through the online valuation product on your portal valid to apply for a mortgage?

No. The mortgage purpose is regulated by the Banco de España and the applicable regulations establish, among other things, that the property must be visited by an expert appraiser and the report must be issued by an approved valuation company.

Valuers issue their reports according to the Banco de España’s ECO regulations. What are these regulations?

ECO 805-2003 is an order of the Ministry of Economy that regulates the criteria and methods for issuing an Appraisal.

I want to apply for the valuation of my home, and I had thought of having a relative, who is a valuer, carry out the mortgage valuation, is there any kind of incompatibility due to family relationship?

Valuers may not value the property of persons with whom they have a family or professional relationship. They may not participate in the valuation of real estate if they have participated in the drafting of the project or in the management of the work, nor in the valuation of real estate owned by them, by any of their family members or by companies in which they have any kind of shareholding.

When will you contact me once the valuation order has been placed?

Within an estimated time of 24 to 72 hours the appraiser will contact the client.

Who does the work?

An independent professional architect appraiser.

What is carried out during the visit to the property?

Measurements and photographs of the property are taken and a sketch or plan is drawn up. In addition, the appraiser will take information about the finishes, materials and the state of conservation of the property.

How long will it take to get my valuation?

In general, the valuation can be delivered within approximately three to seven working days, counting from the visit to the property and provided that all the documentation and information necessary to carry out the appraisal is available.

Appraisal Report Steps