FinancingAlso: Property valuation, Bank appraisal

Tasación

An official valuation of the property, required by the bank before granting a loan.

The tasación is a valuation of the property carried out by an approved appraisal company, required by the bank to determine how much it will agree to finance. The loan is generally calculated on a percentage of the appraised value or the price, whichever is lower.

Not to be confused with the cadastral value or the market price, it serves as the bank's lending guarantee.

For the seller

If the buyer's tasación comes in below the agreed price, their bank will lend less and the deal may have to be renegotiated.