Terms and Conditions of the Online Valuation Service

GLOVAL VALUATION SAU is the valuation business unit of GLOVAL Group. The company specialises in property valuation and is established under Spanish Law 2/1981 of 25 March that regulates the Mortgage Market and its related provisions. It is registered under number 4311 in the Registry for Valuation Companies kept by the Bank of Spain.

Tax Identification Code: A- 28903920

Companies House Details: Registered in the Madrid Companies House in Volume 3927, Folio 155, Sheet M65807.

Address: Avenida de Manoteras, 44 – 4ª Planta – 28050 Madrid

Contact details:
– Email: atencionalcliente@gloval.es
– Phone No.: 915 613 388.

The purpose of these Terms and Conditions is to determine the property valuation and appraisal service and a series of rights for certain financial purposes pursuant to the criteria set forth in the current industry regulations and, in particular, the Spanish Order ECO/805/2003 of 27 March.

These Terms and Conditions for the service are subject to Spanish Law 34/2002 on Information Society and E-Commerce, Spanish Law 7/1998 on Service Terms and Conditions, Spanish Royal Legislative Decree 1/2007 of 16 November adopting the recast text of the General Law to Protect Consumers and Users and complementary laws, Spanish Law 7/1996 on Retail and any other applicable provisions.

GLOVAL VALUATION SAU (hereinafter, GLOVAL) may change these Terms and Conditions at any time by publishing said changes on www.GLOVAL.es and these will apply to all services hired thereafter. If the update and/or changes made to the Terms and Conditions should vary the contractual relationship with the Client, the Terms and Conditions accepted by the Client when they signed the Service Agreement will prevail.

In any case, before hiring any services offered on Gloval’s website, the Client should read these Terms and Conditions and/or the special terms and conditions of the services and ask GLOVAL’s customer support any doubts they may have and, if still interested in hiring the valuation service, accept the contents of said general/special terms and conditions of the services offered to be able to hire the service.

Through this website, GLOVAL offers the following products:

1. Property valuation to establish a security for a mortgage loan according to Spanish ORDER ECO 805/2003 of 27 March.

The services offered will only be provided on Spanish territory. The property valued may be flats/apartments or single-family homes and may include up to 2 annexes.

The valuation will be carried out by independent, highly qualified experts and will be countersigned and signed electronically by GLOVAL. Once the valuation has been completed by GLOVAL’s technical services, a Valuation Report will be sent to the Client with the analysis, measurements and conclusions drawn to calculate the property value or, alternatively, and under the applicable regulations (ORDER ECO 805/2003 of 27 March), will contain any warnings or qualifications on the value assigned. The Report will also include all the necessary appendixes according to Art. 78 of said regulations.

We will also provide the relevant Valuation Certificate that will summarise the aforementioned Report, identify the property valued, the valuation criteria followed, the calculation methods used, the dates the property was visited, the date the report was issued and will expire and the expert’s conclusions on the value.

According to the current regulations, the reports will be valid for 6 months from their issue.

2. Appraisal to determine the market value of a property

The services offered will only be provided on Spanish territory.

The appraisal will be carried out by independent, highly qualified experts and will be countersigned and signed electronically by GLOVAL. Once GLOVAL’s technical services have completed the appraisal, we will send a full Report to the Client with the principles, criteria and parameters used for the appraisal, the checks made, the calculation methods used and the conclusions drawn on the value under the applicable regulations based on the purpose of this appraisal.

The Client is a natural or legal person who is legally competent under the laws applicable to their nationality to register through our form and order our services.

To enter their personal data and purchase our products through our portal, the Client must be legally competent to give their consent and to personally hire the services offered on this website.

The Services are provided to the Client as recipient or end-user of the services. Therefore, it is strictly forbidden to redistribute or resell the Service or assign the agreement without Gloval’s express consent.

4.1. Placing an order

To place an order for one of our products, the Client must first fill in an electronic form on the website.

The Client, after filling in the form and before proceeding, must read the website Terms of Use and accept the Terms and Conditions of the Service and the Privacy Policy.

Once this is completed, the programme will show a quote for the real-estate valuation report or a notice explaining that the system cannot give a quote. In this last case, the user will be offered other options to contact GLOVAL’s Valuation department to order the valuation report.

Expenses arising from obtaining the documents required for the valuation report, including land registry statements, registry certificates, planning certificates or other documents, as well as the drawing of plans, are not included in this quote.

4.2. Minimum documents required for the valuation

In order to conduct a valuation for a security of a mortgage loan, we need at least these documents:

Registry documents (land registry statements issued within the past three months).
Cadastral reference (property identifier). Receipt of the real-estate tax (IBI).
Plan – cadastral identification.
Rental contract and receipt of the last rent paid (if rented).
Rating certificate or document (if a Council House).

In the absence of these documents, we are unable to carry out the valuation for the security of a mortgage loan or we may issue it with qualifications.

Once the data in the order is verified, the payment platform displays to pay the service following the provisions of section 6 in these Terms and Conditions for the Service.

At this point, the Client may choose to cancel the order or complete it. If the Client chooses to continue, they must pay the relevant amount.

Once the amount is paid, the Service is hired and an email will be sent to the Client’s email address to confirm the order.

4.3. GLOVAL’s right to refuse orders

GLOVAL may refuse the order by informing the Client of its reasons within 24 hours from placing the order, without prejudice to Art. 13 of ECO/805/2003 of 27 March on refusing valuations due to the causes foreseen in said regulation.

4.4. Determinations, limitations and conditions on the valuation service ordered:

Valuation reports do not have the same scope as a technical, tax, legal or planning Due Diligence. Therefore, please take into account the limited scope of some of the checks made for the report, especially:

For the valuation/appraisal, the building characteristics are checked by means of a visual inspection by GLOVAL’s expert on their visit to the property, which means that any concealed elements can’t be checked. The state of concealed installations and materials is estimated based on how old the building is and the visible outside condition of the property. No specific tests are run in the building to determine the state of the structure, concealed elements or installations, and these are assumed to be in the condition one would expect if used under normal circumstances, with no hidden faults or defects. As for the land, we don’t conduct topographic or environmental surveys or examine the stability or composition of the ground unless otherwise expressed in the report. GLOVAL will not be liable for any concealed faults or defects.

2) Buildings are valued by factoring in real encumbrances on the property, that is, if these have been entered in the land registry, have been reported by the Client or third-parties or if these can be inferred from a visual inspection of the property. The valuation will not take into account the tax burdens on the property (taxes, levies and rates), debts to the property owners’ association or other debts for owning the property or seizures and other liens on the property.      Therefore, these outstanding burdens or debts should be deducted from the value of the property.

3) The planning information is limited and gathered by talking to local experts and checking the public information on the local planning. GLOVAL will not be liable for the existence of encumbrances with the administration unless these were revealed in the local planning, entered in the registry or reported to GLOVAL by local experts or the Client. GLOVAL will not be liable for changes to the property’s legal status due to changes made to the planning that had not been published before the valuation or as a result of the enforcement of administrative or court decisions, even if these had begun before the date of the report unless there is a public register to check the start, scope and state of said proceedings or they had been reported by the Client or the local experts during our enquiries.

4) The valuations are issued for the Client only and according to their purpose. They will not be considered as a recommendation to purchase or sell the property. GLOVAL VALUATION will not be held liable for its use by third parties unless the purpose of the report is a security for a mortgage loan (Art. 2 of Spanish Order ECO/805/2003 of 27 March) with the financial entities requiring the security.

5) Accuracy of the documents: The documents and information used for the valuation that are supplied by the Client or third parties shown in the Valuation Report and/or attached as a quote for the report are considered as complete and reliable and, unless otherwise stated, we do not check their accuracy. Therefore, GLOVAL VALUATION will not be liable for their accuracy or the impact that their inaccuracy may have on the valuation.

6) Proceedings: Unless otherwise stated, we work on the assumption that there are no administrative or legal proceedings that will change the legal status, the use or the ownership of the property in the valuation.

7) Rented property: With regard to rented properties, we do not enquire about the financial state or solvency of the tenants and we assume that they can pay their debts and are up to date with their payments.

8) Property under construction: For property under construction, or renovations, we work on the assumption that the building project signed by the corresponding professional association can be executed legally and technically. The building techniques and materials are estimated based on the projects provided. Our reports show the state of the work and the progress made but we do not take measurements or check if the quality of the finished units match the project specifications or are in line with the best building practices. Therefore, our reports do not substitute the final completion certificate issued by the appropriate authorities. When the properties are under construction or have been recently finished, we do not reduce the value considering outstanding payments for unfinished work or other duties arising from the construction unless otherwise stated in the report.

9) Building characteristics: The building characteristics, materials, installations and finish are appraised by the surveyor through a limited visual inspection. Regarding built properties, the building techniques and materials used that are not visible are estimated based on the most frequent ones in the area and the most likely for the property valued.

10) Breakdown of the value: The value of the building and the land and, if any, inseparable annexes, are broken down in the valuation for information purposes but the partial values cannot be used without distinction and separately unless another criterion is expressly stated in the report. The values shown in the valuation refer to the property as a whole, not isolated parts of it. Conclusions reached by a partial analysis of the parts in the report could distort the global conclusions.

11) Surface area measurements: The values are determined based on the built surface area of the property including the proportional part of common areas, if any.

12) The surface area of the land is checked based on the plans and/or documents in the land registry or cadastre documents and, in their absence, on the plan drawn during our visit to the property but the surveyor will not conduct a topographic survey, unless otherwise stated. As a result, the Company is not liable for value variations caused by differences between the estimated surface areas and the real ones as these cannot be checked with a visual inspection.

13) Licences: We work on the assumption that all licences, occupancy certificates and other permits granted by local, regional or national authorities or private entities have been or may be obtained or renewed for the purpose considered in estimating the values in the valuation.

Once we have checked that the valuation report has been paid, our designated expert will contact the Client to arrange a visit to the property. The expert will contact the person specified in the order in 24-48 hours (not weekends or holidays) to arrange the visit to the property and receive the documents required for the valuation from the Client.

The visit will be arranged for as soon as possible depending on the availability of the person specified by the Client to give access to the property and the expert’s commitments to previous orders.

Once the work is finished, the report will be delivered as a digitally signed pdf file to the email address entered by the Client.

Should the Client fail to receive the valuation report by email, they may, at any time, notify this by emailing atencionalcliente@Gloval.es.

Should they need a printed copy, they would have to pay the surcharge. The report will be written in Spanish.

The delivery time for the report will be as stipulated in the terms and conditions from the date of the visit, provided the Client has delivered all the necessary documents beforehand.

Gloval has an electronic payment system to pay by credit or debit card. In order to pay the service ordered, you must enter your card number, with no spaces, the expiry date and the CVV number in the appropriate fields on the Redsys virtual POS platform operated by Caixa Bank.

Electronic payments will be made through a secure payment gateway provided by an external financial entity that is not linked to Gloval. Therefore, Gloval will have no access to the Client’s card details. The secure payment gateway will be hosted on a server under the encryption-based communications protocol called “SSL”.

The services provided by this platform are subject to the Visa and Mastercard PCI/DSS security standards. Our e-commerce website is protected by TLS 1.2 encryption with 256-bit ciphers.

The website user is responsible for the transactions made by card or another electronic payment method. By accepting the terms, you confirm that the numbers and details entered for the payment are accurate and the card or bank account has not been reported as lost or stolen and the funds are available at the time of the payment.

The commitment to pay by using a credit card is irrevocable. You may only object to its use if the credit card has been lost, stolen or used to commit fraud. Except for these cases, the holder of the credit card, depending on their situation, may be accused of fraud if they object to the previously authorised payment.

If your card is protected by a password-protected authentication system (Verified by Visa / MasterCard SecureCode), you will be redirected to your bank website to authorise the operation. For payments made with credit cards issued outside Spain, the issuing bank must follow the CES E-Commerce Security Protocol. Otherwise, the payment will not be accepted.

The charge against the card will be done instantly on line when the form with the payment details is sent. Should the payment platform notify that the card was rejected, the order will be cancelled automatically and the Client will be informed of the cancellation immediately on line.

The payment of the rates listed on the website for the different services does not give the Client any rights other than those foreseen in these Terms and Conditions and in the specific terms and conditions of the form filled in to order the Services.

Once the card has been verified, the online POS system will charge the full amount for the products and services purchased.

Pursuant to Art. 164 One, 3 and Two of Spanish Law 37/1992 of 28 December on Value-Added Tax, the Client authorises Gloval to issue the appropriate e-invoice to the person specified on the form and to send it by email to the address provided when signing the agreement with Gloval.

Should the Client wish to report an incident, give feedback or make a complaint, they may do so by emailing atencionalcliente@Gloval.es.

The agreement will come into effect and be enforceable once the aforementioned form is completed, these Terms and Conditions are accepted, and the Client has paid all the amounts due for the Service. The agreement will end once the Client receives the report.

The Client may cancel the agreement without cause within 14 days from its effective date as long as the Client has not received the report or it is null and void.

Notwithstanding the above, by virtue of Art. 103.a of Spanish Royal Legislative Decree 1/2007 of 16 November adopting the recast text of the General Law to Protect Consumers and Users and other additional laws, the agreement may not be cancelled once the Service has been completed (once Gloval has delivered the report) or if Gloval has begun to provide the Service before the Client exercises their right to cancel it. The Client accepts this expressly by accepting these Terms and Conditions.

In order to exercise their right and within the time frame established in the previous section, the Client may use whichever cancellation form they deem appropriate or send an unambiguous notice stating their decision to cancel the Service. In any case, the Client may ask Gloval for a cancellation form or any other information on this matter.

Gloval agrees to treat any information accessed for the Services confidentially and, specifically, subject to the professional secrecy duties set forth in Spanish Royal Decree 775/1997 of 30 May on the legal system to authorise valuation services and companies.

Pursuant to Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, Gloval Valuation, S.A.U., with registered office in Madrid, Avenida de Manoteras 44, and with tax identification code number A28903920, informs the Client, who expressly acknowledges and accepts this, that any personal data they supply under this Agreement will be entered in a file owned by Gloval and will be processed with the following purposes:
i. effectively formalise, maintain, develop, perform and control the contractual relationship with Gloval. For these purposes, the Client expressly authorises the use of their National Identity Card number as identifier to process the payment and track the transaction.
ii. manage and address any doubts or enquiries made by the Client. The Client also authorises the assignment of their personal data to:
judges and courts, tax agencies and any other public bodies when required by law to meet Gloval’s duties.
The Client may freely exercise their rights to access, rectify, cancel and object to the data processing by writing to: Gloval Valuation, S.A.U. Avenida de Manoteras 44, Madrid or by emailing atencionalcliente@Gloval.es including the reference “Protección de Datos de Carácter Personal” (Personal Data Protection).

The Client may, at any time, revoke their consent to receive commercial information by emailing atencionalcliente@Global.es.

These Terms and Conditions of the Service will be governed by the Spanish laws in force at the time.

Any disputes that are not settled amicably will be subject to the jurisdiction of the Madrid Courts for clients who are not consumers or users as defined in Spanish Royal Legislative Decree 1/2007 of 16 November adopting the recast text of the General Law to Protect Consumers and Users and other additional laws. Disputes involving consumers and users as mentioned above, will be subject to the applicable procedural regulations regarding the jurisdiction.