Do you know how a housing is priced?

by Xarxa Homes · July 26, 2020

It is an essential operation, both for the purchase and for the houses for sale in Mallorca. That is why it is so important that you know what a home is and how it is priced. How real estate agency in Mallorca We are absolutely familiar with this performance, so we take advantage of this knowledge to share it with you.

WHAT IS THE APPRAISAL OF A PROPERTY?

Not only homes, any type of real estate that you want to sell or buy must be appraised. The objective of this action is to determine what is the real value of a real estate. For this, the intervention of an appraisal technician is required. These experts must have specific training, the qualification of architects or technical architects, and belong to a recognized appraisal company. This is the way to sell or buy a house in Mallorca with all the guarantees that you do not lose money.

House price Mallorca

It is not only necessary to assess for houses for sale in Mallorca. On a personal level, if you are going to apply for a bank loan with a property guarantee, that is, a mortgage, the law requires you to have the value of that home deeded. Again, it must be remembered that the appraisal is carried out by an expert who belongs to a company that is subject to regulation by the Bank of Spain.

FACTORS THAT ARE TAKEN INTO ACCOUNT WHEN PRICING A HOUSING

 

To set the real price of a real estate property in Mallorca, very specific parameters are analyzed. There are some objectives, mostly of a technical and legal nature. Others fluctuate more because they are related to the situation of the real estate market in Mallorca at the specific moment in which the appraisal is carried out.

House price Mallorca

Those aspects that are always studied to value a home are:

  • The value that is recognized in the Property Registry and if it has any administrative burden. This is an essential point because it is verified who is the legal owner of any real estate property. Other aspects that affect the sale of houses in Mallorca are also taken into account, such as whether it is under official protection or if it is immersed in a future territorial reorganization plan that may entail its expropriation. Of course, it is checked whether all the papers are in rule, among others the ITE.
  • Location. The location of a home is decisive when setting an appraisal. Generally, apartments in Mallorca that are in central and well-connected areas or houses that are close to the beach have a higher price. Anyway, this is a variable element. There are times when a town or neighborhood becomes more fashionable and immediately affects the appraisal.
  • The size and condition of the property. Obviously, the square meters mark an important part of the price of the sale of houses in Mallorca. But, the state you are in greatly influences the final appraisal. They know it well reform companies in Mallorca they usually intervene making small touches to enhance the price of houses.

House price Mallorca

  • Quality of materials and extra services. These types of factors are more subjective because buyer preferences come into play. Although, globally, that a floor has a garage, elevator or common areas is an element that adds value.

Xarxa Homes It is much more than one of the leading real estate companies in Mallorca. We offer you some exclusive services in which, among other issues, we manage this matter of the appraisal of a home. But not only, all the legal and bureaucratic procedures will no longer be your problem because we take care of all of them. Always having your benefits as our main objective!

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