{"id":14959,"date":"2023-09-19T11:52:00","date_gmt":"2023-09-19T09:52:00","guid":{"rendered":"https:\/\/euroval.com\/keys-to-choosing-an-appraisal-company-in-the-real-estate-market\/"},"modified":"2023-09-19T11:52:00","modified_gmt":"2023-09-19T09:52:00","slug":"keys-to-choosing-an-appraisal-company-in-the-real-estate-market","status":"publish","type":"post","link":"https:\/\/euroval.com\/en\/keys-to-choosing-an-appraisal-company-in-the-real-estate-market\/","title":{"rendered":"Keys to Choosing an Appraisal Company in the Real Estate Market"},"content":{"rendered":"
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When it comes to valuing a property for a sale, inheritance, or any other reason, various doubts arise about the process, whether what we need is a valuation or an appraisal, and what type of contract is convenient for us based on the documentation required. We answer all these questions and more in this article. <\/p>\n<\/div>\n

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How to calculate the value of a home<\/strong><\/h3>\n

To divide an inheritance, apply for a mortgage, or distribute assets, it is necessary to calculate the value of a home. Given this, several questions may arise: How is this value calculated? Who performs this valuation? What factors are taken into account when performing it? We answer these questions and all the doubts that may arise below. <\/p>\n<\/div>\n

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Differences between valuation and appraisal<\/strong><\/h3>\n

Often, when determining the value of a property, the question arises whether to request a valuation or an appraisal, and what is the difference between the two.<\/p>\n

When we talk about Valuation<\/strong>, we are talking about a document that offers, in an orientative way, an estimate of the value of the property. It can be done online, so a visit to the property is not necessary. And most importantly: since it is not regulated or approved by any entity, it has no legal value, so it cannot be presented when applying for a mortgage. <\/p>\n

As for the Appraisal<\/strong>, we are referring to an official report, which complies with the regulations and has legal value, issued by an appraisal company, through an approved appraiser, usually to apply for a mortgage.<\/p>\n

How a property is appraised<\/strong><\/h3>\n

When calculating the value of a home, the appraiser takes into account a series of internal and external factors that determine its market price. These are: <\/p>\n