Building Valuation - Help

 Help is required, having read an article in EoS the piece that interested was and I quote

" To provide consistency, there are very strict guidelines that the valuers have to follow, which can have the unfortunate effect of ignoring the individuality of each property. In addition, the guidelines are open to use by the Bank of Spain as part of the Government’s economic policy, by dictating that values reported for banks must be reduced or increased (rarely that!) according to certain formulas with the aim of reducing the rise in property values.

Does anybody know how I can get hold of the formula as I want to challenge the bank valuation in 2006, the RICS valuer based his valuation on the promoters over  inflated price, my contension with the bank is that this was done to get the mortgage ratio right within the bank requiremnts and no due dilligence to me or the bank

thanks

Derek

Dear All,

this will hopefully run and be interesting.

the simple answer is the value is what it is sold for to a willing buyer, even if he regrets it later.

some have said that the authoities in Spain encourage over-valuing to inflate tax income.

Hope you get your answer.

Regards

Norman