How to obtain a valuation online

You can also use the network to appraise and determine the value of a property

Nowadays, we use the internet more and more to obtain information, buy products, and access entertainment. And yes, if you need an online valuation of your property, this valuation can help you to know the approximate price.

However, an online appraisal is not an official valuation as this can only be carried out by an official appraiser. 

Bear in mind that a certified appraisal considers certain physical aspects, such as the state of repair of the home, the quality of materials, the energy certificate of the building after renovation work, etc. Therefore, if you add all these aspects to other basic information about the location, it is impossible to obtain an accurate online valuation. However, approximations are possible and BBVA Valora helps you with them.

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Online appraisal tools

These tools tend to use a preset database to provide the most direct trends and initial estimates of purchase amounts. A home valuation, for definition, is an expert appraisal whereby the price of a property is officially set. In other words, it is the product of a detailed study that allows you to know a property's real value. Valuations must be performed only by recognized appraisers, since they know the market best and, above all, they know what is important when determining the price of a home.

Many of these appraisers, however, share their knowledge through interesting online tools with which you can learn approximate values, in what we might call an online valuation. It is precisely that expert knowledge that allows us to establish guideline values for the quality of the neighborhood, the price trends of the area, the profile of the buildings, the age of the property, etc. and all the criteria needed for an appraisal can be included in one straightforward application. A good example is, undoubtedly, the BBVA Valora app.

BBVA Valora online appraisal

With BBVA Valora, you can obtain a rough idea of the value of a property in just a few simple steps. For this purpose, in the property finder, you can enter geographic coordinates such as the province, town, street, and apartment number. You can even enter the 20-digit cadastral code. After selecting the search options and clicking "See property information", specific useful data will appear on the screen in a matter of seconds. It goes without saying that the figure that the web page shows you is not a definitive value but simply a guideline. These figures can help you to understand the market if you are planning to buy a similar property.

In essence, the BBVA Valora tool offers two results: The first is a bid purchase price based on an estimation of the size, and the second is a guide price for renting the property. In the case of buying, you can also see the precision of the value shown, which the application classifies on a six-point scale from low to high.

The price is generated via a database using market experience and approximations to assess the state of repair of a property, special features such as views, elevation, etc., and, in particular, facilities such as gardens, swimming pools, etc. This information is complemented with the general data (if available) of the Real Estate Tax Registry, including the type of property, its use, the total and usable surface area, the year of construction, etc.

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Assistance with buying

Knowing all that information, there remains only one question: is the transaction feasible and, above all, if it is a purchase, who can help to finance it? BBVA has also thought of that. In the tool, next to the obtained results, you will see a link that takes you directly to the BBVA mortgage simulator. There, without any commitment to the bank, you can perform your initial calculations and consider the viability of buying the property.

Remember that, however, the main purpose of this online valuation is to show you a reasonable approximate value of a home; however, under no circumstances should it substitute the valuation given in person by a certified appraiser. BBVA can also help you with this process if you want. Please do not hesitate to request further information about appraisals in your local branch.

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