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18 Feb 2008 12:00 AM by henrya Star rating. 20 forum posts Send private message

Has anyone had valuations done of their property for mortgage purposes.  I have recently received some from the Developers' bank (Banco Andalucia).  Their 2005 tasation value is over 60K less than what I paid for the property and their latest tasation is only roughly the value I paid for the property 3 years ago.  Any idea what is going on?  How can the latest  tasation value be 60K less than the new  list prices? 




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19 Feb 2008 11:59 AM by bandbtown Star rating. 15 forum posts Send private message

The local property market has been very static for the last 2 years and there is lots of empty property on the market thus the price is dropping.

I guess the banks are being very conservative as they don't know when it will turn.

This applies more to apartments as they are availble in abundance




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