Reply To: Valuation Problem


The outside terrace doesn’t have the same value as that of roofed floor (by that I mean closed with walls), it’s more or less half the value. You do own the terrace, naturally, and it should be included in the deeds as part of the description of the dwelling. Perhaps they did reforms in the house and this were not communicated as “obra nueva” and inscribed in the Land Registry so as to avoid paying taxes. The terrace also has a price included in the sales price on selling obviously.

In any case, try another -spanish- valuer independent from the bank if you are not happy. Should cost you between 350-450 Euros. The valuations differ a lot depending on the banks lending criteria. The same valuer could establish two different valuations for the same property for two different banks, because they have different criteria to lend.