- July 7, 2017 at 1:19 pm #213835
Hello, we are completing on a property in Murcia. The bank have just given us their valuation, over 20,000e more than we are paying. How can I protect myself from getting a readjusted bill in the future and will by ITP be based on actual sale price. Do I need specialist tax adivise now?
- July 9, 2017 at 12:17 pm #213908
Why have you asked the bank for a valuation
The IVA is based on the valuation as held by the Tax Office not the bank
Your legal advisor should be able to give you advice on this matter that’s what you pay for
- July 18, 2017 at 11:22 am #214184
Yolanda P. – Ypama AbogadosParticipant
When you ask for a mortgage, the bank needs a valuation as they need that value to justify to fulfill some Banco de España financial requirements. Also, this value is used to stablish values in case of a future judicial proceeding. BUT this valuation is for private use only (you and your relations with the bank).
The valuation is not used for tax purposes.
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