Technical Guide

Real Estate Appraisals

Determination of official market value for mortgage, judicial, and administrative purposes

Official Real Estate Appraisals

Real estate appraisals are technical reports that determine the market value of a property following a regulated and approved methodology. Unlike indicative valuations, appraisals have official status when carried out by approved entities and follow specific regulations, especially Order ECO/805/2003.

At PROMURCIA, we work in collaboration with appraisal companies approved by the Bank of Spain, ensuring that all our reports have full legal validity for mortgage transactions, judicial, tax, and administrative proceedings, backed by professionals with the necessary qualifications and experience.

Purposes of Official Appraisals

Mortgage Appraisals

Valuations for the granting of mortgage-secured loans, which strictly comply with the regulations of the Bank of Spain.

Mortgage loan granting
Mortgage novation and subrogation
Cancellation of mortgage guarantees
Determination of coverage value
Mortgage value verification

Tax Assessments

Appraisals for tax and tributary purposes, determining the taxable base for various taxes related to real estate assets.

Verification of values for tax settlement
Appraisals for Inheritance and Gift Tax
Determination of municipal capital gains
Valuation for Wealth Tax Return
Determination of fair market value in transfers

Judicial Appraisals

Expert appraisal reports for judicial proceedings, providing courts with objective elements for dispute resolution.

Valuation for inheritance division processes
Appraisals for judicial auctions
Valuation for company liquidation
Determination of value in divorces and separations
Appraisals for insolvency proceedings

Administrative Appraisals

Valuations for administrative procedures and transactions with public entities, according to specific regulations.

Valuations for forced expropriations
Valuations for public entity assets
Valuation of properties under administrative concessions
Valuations for subsidies and public aid
Valuation for transactions with public administrations

Official Appraisal Process

1. Application and Definition of Purpose

Receipt of the client's request
Determination of the specific purpose of the appraisal
Identification of the property to be appraised
Budget and delivery deadlines

2. Document Collection

Request for registry documentation (simple note)
Obtaining cadastral documentation
Compilation of urban planning documentation
Analysis of relevant deeds and contracts

3. Technical Inspection

In-person property visit
Verification and measurement of surfaces
Evaluation of the state of conservation
Complete photographic documentation

4. Assessment and Application of Methods

Local Real Estate Market Analysis
Selection and application of valuation methods according to regulations
Calculation of value using different mandatory methods
Determination of the final appraisal value

5. Preparation and Issuance of the Report

Drafting of the report according to standardized format
Inclusion of all necessary annexes
Internal quality control verification
Signature by a certified appraiser and issuance of the certificate

Applied Valuation Methods

Comparison Method

Based on the principle of substitution, determine the value by comparing the property with similar ones whose prices and characteristics are known.

Selection of homogeneous and representative comparables
Application of homogenization coefficients
Statistical analysis of the values obtained
It is the main method for residential properties.

Cost Approach

Calculate the value as the sum of the land value plus the replacement cost of the building, deducting depreciation for age and condition.

Land valuation by comparison
Calculation of new construction cost
Application of depreciation coefficients
Especially useful for unique or new properties

Rent Update Method

Calculate the present value of the future returns that the property will generate, whether from actual or potential rent, by applying a market discount rate.

Estimation of future cash flows
Determination of the discount rate
Calculation of reversion value
Main method for profitable properties

Residual Method

Determine the value of the land or a property to be rehabilitated, based on the hypothetical value of the finished property and deducting all necessary costs.

Analysis of urban development potential
Construction and development cost study
Establishment of deadlines and benefits
Applicable to floors and buildings to be refurbished

Advantages of Our Official Appraisals

Legally Valid Guaranteed

Our appraisals strictly comply with current regulations (especially Order ECO/805/2003) and are carried out by certified appraisers, which guarantees their full acceptance by financial institutions, public bodies, and courts.

Deep Local Knowledge

Our roots in the real estate market of Murcia and its surroundings provide us with exceptional knowledge of the local market, allowing us to make more accurate appraisals tailored to the specific reality of each area.

Thoroughness and Rigor

We prepare comprehensive and detailed reports that consider all relevant aspects of the property and its surroundings, providing a rigorous and well-founded valuation that defends our clients' interests.

Types of Properties We Appraise

Housing

Flats, apartments, single-family homes, villas, townhouses, and all types of residential properties.

Premises and Offices

Commercial spaces, offices, professional practices, and premises of various uses and sizes.

Land

Urban land, developable land, rural land, plots and estates of different urban planning classifications.

Industrial Buildings and Industrial Estates

Industrial facilities, warehouses, storage buildings, and other industrial or logistics-use assets.

Full Buildings

Residential blocks, office buildings, shopping centers, and other complete buildings.

Special Properties

Hotels, residences, healthcare and educational centers, and other properties for specific uses.

Real Estate Appraisal Packages

At PROMURCIA we offer different appraisal packages tailored to your specific needs, all carried out by certified professionals and fully legally valid.