The valuation corresponds to the process of determining the current value of an asset or property. In the real estate context, it involves analysing the market value of a property based on factors such as location, area, condition, and comparable sales in the area.

In Portugal, valuing your property is important for several reasons:

1. Real estate transactions: When buying or selling, knowing the market value is essential to negotiate a fair price and avoid overpaying or selling below value.

2. Financing: Banks often require an appraisal before approving a mortgage. The valuation ensures that the property provides sufficient collateral for the loan amount.

3. Taxation: The valuation can influence taxes related to the property, helping ensure you do not pay more than necessary.

4. Insurance: Insurers may request a valuation to determine adequate coverage and premiums.

Benefits of valuation in Portugal:

Fair transactions: Helps buyers and sellers make decisions based on market value.

Financial planning: Provides an accurate estimate of the asset’s value, important for investment decisions.

Compliance: May be required to meet legal and regulatory requirements.

Peace of mind: Knowing the true value of the property provides confidence in decision-making.

The time to complete an appraisal varies depending on the property’s complexity and data availability, but typically ranges from a few days to two weeks.