As any chartered surveyor will tell you in their Homebuyer or other building condition survey or valuation report, a property’s size needs to be accurately recorded on the title deeds of the property.
This is especially important when someone buys with a mortgage from a Spanish bank as the bank’s valuer is obliged to value on the lesser of the title area or the measured area of the property, which could cause problems for a buyer requiring a maximum mortgage.
Here at Survey Spain, we recommend that the seller should register any additional accommodation before selling the property, so that any delays and problems with licences, etc can be dealt with and not cause problems that can ‘frighten’ away prospective buyers.
Campbell D. Ferguson, FRICS, is a chartered surveyor in Spain. His company Survey Spain Network arranges valuations and surveys by RICS chartered surveyors anywhere in mainland Spain and the Balearic and Canary Islands, and Gibraltar. This includes valuations, building surveys, structural surveys, building inspections and investment and development appraisals.
