appraisal

25 Aug

What are the expenses when a mortgage is constituted?

Catharine BwanaReal Estateappraisal, documented legal, expenses, land registry, legal acts, mortgage, mortgage loan, payment, property

The constitution of a mortgage involves the payment of a series of expenses that go beyond the payment of the monthly payment. Until the approval of Law 5/2019 regulating real estate credit contracts, most of these were assumed by the buyer. With the new regulations, the situation has changed significantly. In this post we explain who pays what when a mortgage loan is signed. Expenses involved in signing a mortgage Notary. Payment of the notary's fees for attesting to the formalization of the mortgage operation. Appraisal. Expenses derived from the process by which the value of a property is certified. The appraisal…

13 Jul

Difference between the appraisal of a home and its valuation

Catharine BwanaReal Estateappraisal, estate appraisal, house, legal nature, price, property, real estate, valuation

Despite being different concepts, it is common for there to be confusion between the appraisal and the valuation of a property. Whether we want to apply for a mortgage or if we want to sell our house, it is necessary to know what each term means to avoid confusion and know at all times what we are asking for. The legal nature of each makes the difference The main difference between a real estate appraisal and a valuation is the legal nature of the former. Although with both we can know approximately how much a home is worth, only with the appraisal we obtain a…