Bank Valuations of Resale Properties

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    I’m looking at buying in the Marbella area, and recently came across a website which offers a long list of properties – both established resale and new build – for sale at figures grossly below bank valuations which had only been carried out a couple of months ago- in some cases up to 40% below the valuation.

    How can these “bank valuations” be so out of step with market sentiment?

    Does anyone know how credible these valuations are and if they are carried out by Chartered Surveyors as they are in the UK? Or is it just a another marketing ploy by another sinister agency?

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