Property Surveys, Inspections and Valuations

Start with the question you need answered

A mortgage valuation estimates a property’s value for lending purposes. A buyer’s technical inspection investigates its physical condition within an agreed scope. They answer different questions. Before booking a visit, tell the professional whether you are worried about cracking, damp, an old roof, unauthorised alterations or a planned renovation. Ask for a written proposal that describes the work and the report you will receive.

Agree what the inspection includes

Ask which rooms, roof areas, terraces, services and communal spaces will be accessible. A visual inspection may leave concealed structures or underground drainage untested. An inaccessible area should appear as a limitation in the report. In an apartment building, request any available building inspection documents and follow-up works records; a report about the whole building may not answer every question about your individual flat.

• Ask who will inspect and what qualifications they hold.
• Separate visible defects from areas requiring further investigation.

Read the findings as a decision list

Request photographs, a description of each issue, its likely significance and the next investigation needed. An estimate for repairs is more useful when it says what is included and how uncertain the amount remains. Share structural or planning questions with the appropriate specialist. Do this while you can still discuss price, access for investigation or contractual conditions, rather than assuming every defect can be addressed after completion.

Use the valuation for the financing decision

Banco de España explains that mortgage valuations are carried out by approved valuation providers. Ask your lender how the result affects the loan offer and whether the report contains qualifications. A purchase price and a valuation can differ. Prepare a funding scenario for that difference before committing to a deposit that your financing arrangements may not support. Keep the valuation and the condition report together in your purchase file.