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Due to the disputes and disagreements that the distribution of assets in an inheritance can cause, it is essential to know what a valuation or appraisal is and how it is carried out; this will improve communication and understanding between the heirs.
Regardless of the type of inheritance, it is necessary to know the value of each asset, whether it is a house, company, boat, vehicle, jewelry, among others, achieving a saving of time and money and avoiding problems with the other people affected by the inheritance from the beginning of the procedure. By requesting a valuation, there will be an impartial appraiser who will determine the value of each asset. It is important to know how to choose the right appraiser, based on their proven experience and qualifications that accredit them as a professional suitable for the valuation of each of the assets under study.
In this situation, it is recommended to have the help of an Appraisal Company such as Euroval, which offers its knowledge and quality of service in the different areas of valuation, appraisal, advice and professional expertise, through its more than 400 appraisers in Spain and its more than 1,000,000 reports carried out, in addition to being approved by the Bank of Spain.
To value the properties of an inheritance, it is not necessary to carry out an official appraisal, so at Euroval, we offer an Real estate valuation for advice - VIA -.
It is a specialized report oriented to the knowledge of the current market value, without the burden of procedures and formalities prescribed by the official valuation regulations.
It is carried out by a qualified expert technician and its cost is significantly lower than official appraisals.
The Real Estate Valuation for Advice -VIA- reports are ideal for sales or distributions of assets of an inheritance. These valuations can be carried out on properties such as homes, premises, offices, warehouses, buildings or land.
Euroval has an online purchase service of services where, quickly and easily, from any type of device, you can contract the services or, if desired, request a personalized quote in just a few minutes.
€120 with visit from the Valuation Technician
The variations in inheritance tax between communities must be taken into account; however, it is recommended that the same appraiser or appraisal company carry out the appraisals of all assets and properties, regardless of the location. In this way, there will be a homogeneous criterion for the properties and objects of value of the inheritance.
Another important detail to take into account is the calculation of the value of an inheritance, which must always be done as of the date of death, since many times the procedures of an inheritance can be extended for years and, therefore, the current real value may differ greatly from the value on the date on which that death occurred.
This has occurred especially in times of crisis, where real estate in particular has suffered a fluctuation in prices, and, as a result, has lost value.
What to do if there are several heirs?
The situations in which an inheritance is received can be varied. The most common is that there are several heirs and with different percentages and participations in the inheritance.
It would be ideal if each heir received a single property or object and did not have to share, but this almost never happens; in fact, on many occasions there is no will where the wishes of the deceased person are recorded and everything has to be divided equally; in this case, one of the heirs usually wants to buy the others their shares of the asset, for which it is essential to have an impartial appraiser who determines the value.
The appraisal can be requested by any heir, however, it is usual for them to do so in a consensual manner so that everyone is aware of the appraisals in progress; there is usually a representative within the heirs in charge of acting on behalf of the rest.
Differences between inheriting urban land and rural land
In the case of inheriting urban land in which its use or potential to be built on is unknown, it is advisable, before letting time pass using that space as a crop, or directly that it is totally unused, to carry out a valuation to know both its real value and its expectations. There is a large amount of land, which is being underutilized or not obtaining the potential that it can develop; it may be that the land has been the object of some urban development, going from thinking that it was a land without any type of interest, to being a property with good expectations. For this reason, it is highly recommended to appraise it to know its value and the best use that can be given to it.
If you inherit land or a rustic farm, even if it does not make you very excited in the sense that it cannot be built on, the first thing I would recommend would be to appraise the land to benefit from the game that can be made of it.
It can be perfect for carrying out agricultural, livestock, forestry or hunting activities. In addition, it has a benefit when it comes to taxing it, only one tax is paid, the IBI, for this reason, it is sometimes advantageous to maintain it in legal terms.
Whether to sell it, lease it or to make it profitable, it is essential to appraise the land to know what its value and its uses are.
€120 with visit from the Valuation Technician
How is an inheritance of jewelry or household goods managed?
In an inheritance, properties that are the object of transmission are not only real estate; the assets often include goods such as jewelry or household goods.
In the same way as with real estate, it is the tax agency that is responsible for estimating a value for these assets, which can be from a painting, a watch or cutlery, among others.
Often, the assets may contain errors in their characteristics or be improperly classified, which directly alters their value. Therefore, it is advisable to have advice from a specialized professional appraisal company to accurately quantify the value and equitable distribution among heirs.
Euroval, knowing the importance of knowing the value of all types of assets, has formed a team of professionals (graduates in art history, gemologists, economists, etc.) who value all types of assets, not just real estate.
In short, it is very useful to appraise all types of assets, regardless of the type they are. It is a simple procedure that will save you time and money.
At Euroval we are here to help you, we are professional appraisers specialized in this type of services.
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