Buying a Property in SpainChartered Surveyors

Are you buying at a fair price?

By May 12, 2014 No Comments

Spanish HomeAt Survey Spain our valuers have a wealth of knowledge of property sales and use this to give you their best advice.

They will compare the property to others of similar style, size and location, which have been recently sold or are being offered for sale. However, due to the prevalence of extra-contractual payments and incomplete property descriptions, accurate, reliable sales information is not always registered in Spain. Unless one is directly involved with the final stages of any particular transaction, even down to being in the bar when the buyer and seller meet before or after the Notary signing, there can be no confidence in the registered price!

As a result, the most accurate method available is to analyze the asking prices for comparable properties from experience of the market. A property cannot be valued in isolation as purchasers must be assumed to be prudent and to have alternative investment opportunities. Accordingly, the comparative purchase costs, returns, risks and final sale opportunities, along with the more subjective ‘feel’ and ‘tone’ of the whole property, must all be taken into account in order to decide upon a final opinion of value.

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.