Valuations in Portugal

05-ReAct  VALUATIONS:

One of the tasks of an estate agent should be his ability to carry out valuations on properties. To do this properly one obviously need to have good knowledge of the local market, for that reason it is advisable to appoint somebody who is familiar with the area the property is situated in.

A valuation can be needed for various reasons:

• Just for you to know what your property is worth
• In case of a second opinion
• For court cases
• For tax reasons
• In case of divorce
• To obtain a mortgage
• And without doubt for other motives as well.

In order to carry out an official valuation and in order to establish the value the valuator should be in the possession of the following documents:

1. The Caderneta Predial Urbana and or Rústico (log book of the property), which will indicate the official sizes as registered in the tax department and the age.
2. A Certidão de Teor (Registration) which will give info over who the legal owner is and also if mortgages or other encumbrances are registered against the property
3. A licença de Habitação (habitation license), which will give the information if the property is legally occupied in the eyes of the local Camâra (town council)
4. Title deeds when the property was purchased.
5. Certified plans of the Town Hall of projects submitted and approved.
6. A plan of the land and area at scale 1:2.000
7. A plan of the land at scale 1:25.000
8. Any info on Condominium fees if applicable
9. Info on possible obtainable rental or other income.
10. Other fixed expenses.
11. Whatever else you feel is essential to know.

My basic fees for carrying out valuations are laid down in the following table.

This article is written and provided with permission by Robert M.L. Snapper, fully licensed real estate agent in Portugal.