Spanish Property Survey & Valuation

A lawyer is unlikely to consider the structural state of the property, offer advice as to it's true market value or investigate the Town Hall's position regarding any future developments which may affect it.

It's only after the deal is done, and you have taken up residence that the huge crack previously hidden by a fresh coat of paint appears in the wall. Perhaps at the first heavy rainfall your euphoria will be shattered by an unhappy discovery of a badly leaking roof, or an unexpected flood in the cellar, or some other potentially expensive problem. Older Spanish houses are notoriously famous for having poor electrical installations and may require a complete rewiring job, plumbing problems are also often encountered in old Spanish properties. Years ago steel pipes were commonly used and buried in the concrete floors, in time the calcium in the water gradually eats it way through the pipe and eventually the pipe bursts with rather messy consequences.

If you are borrowing money to buy your Spanish property you will almost certainly find the bank or lender will insist the property is surveyed and properly valued before they provide the funds.

It follows, therefore, that since the banks and mortgage providers follow this procedure in order to protect their interests it should be a valid and sensible course of action for anyone else when buying a property.
You may not be borrowing money to buy, in which case all the more reason to make sure your own cash investment is sound. Have the property independently surveyed before you complete the sale. This way you will know for sure, it's true value and exactly what you are buying. This could prevent future problems and may save you a considerable amount of money.

Following is a list of certificates a purchaser should ensure would be available from the vendor or his agent before entering into any kind of contract or making any commitment to purchase.

1. Legal Certificate:
   Proof that the property has no charges liens or other encumbrances.
   
2. Local Authority planning report:
   Proof that the property is not going to be affected by future planning developments.
3. Structural Survey certificate:
   Architectural survey detailing any defects discovered in the property prior to purchase.
4. Valuation Certificate:
   This is an independent report that shows the current market value of the property.
5. Notarised Sales/Purchase document:
   The sale is completed in front of a public notary who ensures the property is conveyed to its new owner in accordance with Spanish Law.