ABSTRACT
The greater part of valuation work in Spain is carried out by Spanish valuation companies, whose valuers are called tasadores and are required to follow the rules set out in the Royal Decree on valuations of 30 November 1994. Valuation companies are also bound by legislation, in particular they are not allowed to have any agency involvement. Furthermore, the law is stated in such a way that Spanish financial institutions rely on tasadores for their valuation work. As a consequence, valuers in international surveying firms and property consultancies focus on valuations required by foreign companies, and the needs of local owner-occupiers and investors who may request advice on their properties regarding potential sale, relocation, diversification or other matters. In this chapter attention is specifically focused upon the Royal Decree and the way in which tasadores carry out valuations.
