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Property Valuation

Posted: Fri Oct 30, 2020 8:42am
12 replies616 views5 members subscribed
Flamencalady

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I have heard that if the Suma Office values your property it will always be lower than, for example an estate agent, has anyone come up against this.

I need a lower valuation as another person has been on the deeds of a property for many years, he has no interest in the property, lives in the USA, has no contact with us and does not contribute to the general running or improvements to the property, therefore in the event of wanting to buy said person out,  a lower valuation would be of interest to us. 

Karen9999

Posted: Fri Oct 30, 2020 10:19am

Karen9999

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Posted: Fri Oct 30, 2020 10:19am

How can you buy him out if you don't have contact?   Can you force him off the deeds.   Has he paid any thing towards the house ?

Flamencalady

Posted: Fri Oct 30, 2020 10:36am

Flamencalady

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Joined: 28 Oct 2015

Posted: Fri Oct 30, 2020 10:36am

Karen9999 wrote on Fri Oct 30, 2020 10:19am:

How can you buy him out if you don't have contact?   Can you force him off the deeds.   Has he paid any thing towards the house ?

i am sorry I mean to say he has never contacted us, we do have his contact details which we know are live.

I don’t know if he can be forced off the deeds as he is on them due to a deceased request in a will.

dinnerout

Posted: Fri Oct 30, 2020 11:56am

dinnerout

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Posted: Fri Oct 30, 2020 11:56am

Flamencalady wrote on Fri Oct 30, 2020 10:36am:

i am sorry I mean to say he has never contacted us, we do have his contact details which we know are live.

I don’t know if he can be forced off the deeds as he is on them due to a deceased request in a will.

You need an Abogado. Expecting or hoping Suma to value your property for legal purposes is a pipe dream. Suma are not Valuers. Your Abogado would advise the best way to value the property legally.

Also, if the person who enjoys a share of ownership doesn't signal their agreement to sell their share you can't just dump them off the Escritura.

Flamencalady

Posted: Fri Oct 30, 2020 12:01pm

Flamencalady

Original Poster

Posts: 205

37 helpful points

Location: Orihuela Costa

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Posted: Fri Oct 30, 2020 12:01pm

This post that was quoted has been deleted.

I am so sorry Baz I didn’t give you the whole of my life story regarding the very rich American with many properties as mentioned in the will and how evil he was to the writer of the will. He who knew that  I have a young family to support but have pride in the property to maintain and struggled to keep nice, once all is settled they will need the proceeds albeit just a modest property which has decreased in value greatly as all Spanish properties. I am not a vindictive robber and very hurt at your remarks Ibwas just looking for some opinions and maybe experience of my information requests.

As my mother always said “ if you can’t say something nice, don’t say anything at all”

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Flamencalady

Posted: Fri Oct 30, 2020 12:07pm

Flamencalady

Original Poster

Posts: 205

37 helpful points

Location: Orihuela Costa

Joined: 28 Oct 2015

Posted: Fri Oct 30, 2020 12:07pm

dinnerout wrote on Fri Oct 30, 2020 11:56am:

You need an Abogado. Expecting or hoping Suma to value your property for legal purposes is a pipe dream. Suma are not Valuers. Your Abogado would advise the best way to value the property legally.

Also, if the person who enjoys a share of ownership doesn't signal their agreement to sell their share you can't just dump them off the Escritura....

...

Thank you for your polite reply, of course when the time comes, which may be years off yet, I shall consult an abogado and be guided by them. I simply wondered if what I had been told is in fact true. I do dispair of such nasty comments some people (not you) make to others and how hurtful it can be, the world is horrid sometimes however thank you again for you input

elinspain

Posted: Fri Oct 30, 2020 12:51pm

elinspain

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Posted: Fri Oct 30, 2020 12:51pm

Flamencalady wrote on Fri Oct 30, 2020 12:01pm:

I am so sorry Baz I didn’t give you the whole of my life story regarding the very rich American with many properties as mentioned in the will and how evil he was to the writer of the will. He who knew that  I have a young family to support but have pride in the property to maintain and str...

...uggled to keep nice, once all is settled they will need the proceeds albeit just a modest property which has decreased in value greatly as all Spanish properties. I am not a vindictive robber and very hurt at your remarks Ibwas just looking for some opinions and maybe experience of my information requests.

As my mother always said “ if you can’t say something nice, don’t say anything at all”

Hello

In my opinion, it was a completely unkind & unnecessary comment -- with no facts to back it up. Even if they had facts, they are in no position to judge you , it was thoughtless, based on ignorance!

Cheers

Elinspain

Flamencalady

Posted: Fri Oct 30, 2020 1:02pm

Flamencalady

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Posts: 205

37 helpful points

Location: Orihuela Costa

Joined: 28 Oct 2015

Posted: Fri Oct 30, 2020 1:02pm

elinspain wrote on Fri Oct 30, 2020 12:51pm:

Hello

In my opinion, it was a completely unkind & unnecessary comment -- with no facts to back it up. Even if they had facts, they are in no position to judge you , it was thoughtless, based on ignorance!

Cheers

Elinspain

Thank you so much,

 I suppose if one is a sensitive person which I am these horrid individuals have no idea what thoughts are going through your head once the remarks have been made. I was told to blaspheme at him but I could not do that no more than I can fly. 

dinnerout

Posted: Fri Oct 30, 2020 1:25pm

dinnerout

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Posted: Fri Oct 30, 2020 1:25pm

dinnerout wrote on Fri Oct 30, 2020 11:56am:

You need an Abogado. Expecting or hoping Suma to value your property for legal purposes is a pipe dream. Suma are not Valuers. Your Abogado would advise the best way to value the property legally.

Also, if the person who enjoys a share of ownership doesn't signal their agreement to sell their share you can't just dump them off the Escritura....

...

Just to add, you were on the right track because the official legally recognised value of a property is, I would imagine, the one listed as the Cadastral value. This is a list maintained by your town hall of all property and its nominal value.

Suma take their rates valuations from this list, but as mentioned before, Suma cannot give you a "valuation".

When buying out a silent partner you would need their agreement and it would require to go before a Notary to change the ownership details legally and issue a new Escritura. This is why you will require the services of an Abogado.

However, there is no point in instructing one unless your silent partner agrees that they want to sell, or would sell under certain circumstances. 

Steve

Stephanie86

Posted: Fri Oct 30, 2020 2:11pm

Stephanie86

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Location: Lliber

Joined: 4 May 2017

Posted: Fri Oct 30, 2020 2:11pm

The other reason for needing an Abogado is that if the sale/purchase valuation is declared as being below what the local authorities think it should be, you may find yourself landed with a hefty ‘tax’ bill later down the road. Suma are purely an organization whose function is the collection of monies of behalf of public authorities etc.

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