General Terms and Conditions for Online Contracts

GLOVAL VALUATION SAU is the valuation business unit of the GLOVAL Group. It is a company specialising in the valuation of immovable property, accredited in accordance with Law 2/1981 of 25 March on the regulation of the mortgage market and related provisions, and registered in the Bank of Spain’s Register of Entities Specialising in Valuation under number 4311.

Tax Identification Number (CIF): A-28903920

Registration details: Registered in the Madrid Commercial Register, Volume 3,927, folio 155, page no. M65807.

Address: Avenida de Manoteras, 44 – 4th Floor – 28050 Madrid

Contact:
– email: atencionalcliente@gloval.es
– telephone: 915 613 388.

The purpose of these General Terms and Conditions is to govern the provision of valuation and appraisal services for real estate and certain rights for specific financial purposes, in accordance with the criteria established by current sectoral regulations—with particular regard to Order ECO/805/2003 of March 27.

These General Terms and Conditions have been drafted in compliance with the following: Law 34/2002 on Information Society Services and Electronic Commerce; Law 7/1998 on General Contracting Conditions; Royal Legislative Decree 1/2007 of November 16, which approves the consolidated text of the General Law for the Protection of Consumers and Users (along with other complementary legislation); Law 7/1996 on the Regulation of Retail Trade; and any other applicable legal provisions.

GLOVAL VALUATION SAU (hereinafter “GLOVAL”) reserves the right to modify these General Terms and Conditions. Any such changes will be published on www.gloval.es and will apply to any new contracts entered into from the date of their publication. Should any update or modification result in changes to the contractual relationship with the client, the General Terms and Conditions accepted by the client at the time the service provision contract was formalized shall prevail.

In all cases, prior to contracting any of the services offered on the GLOVAL website, the client must read these terms—consulting GLOVAL’s customer service department if any clarification is required—and, should they wish to proceed with the appraisal service, must formally accept the content of these General Terms and Conditions (as well as any specific terms applicable to the particular service being requested) in order to complete the contracting process. Through this website, GLOVAL offers the following products:

1. Real estate appraisal for the purpose of establishing mortgage collateral, in accordance with Order ECO 805/2003 of March 27.

The services offered are available exclusively within Spanish territory. The properties subject to appraisal may include apartments or single-family homes, along with a maximum of two ancillary units (such as storage rooms or parking spaces).

The appraisal will be prepared by highly qualified, independent professionals and will be endorsed and electronically signed by GLOVAL. Once the valuation has been completed by GLOVAL’s technical team, the appraisal report will be made available to the client. This report contains the analyses, measurements, and conclusions that lead to the assigned property value; it may also—in accordance with applicable regulations (Order ECO 805/2003 of March 27)—include specific caveats or conditions regarding the assigned value. The report will also include all necessary documentary annexes, as required by Article 78 of said regulation.

Additionally, an Appraisal Certificate will be provided, summarizing the aforementioned report. This certificate will identify the property being valued, the valuation criteria and calculation methods used, the dates of the property inspection, the date of issuance, the expiration date, and the final valuation conclusions.

In accordance with current regulations, these appraisal files are valid for 6 months from their date of issuance.

2. Appraisal for the purpose of market value assessment.

The services offered are available exclusively within Spanish territory.

The valuation will be carried out by highly qualified, independent professionals and will be endorsed and electronically signed by GLOVAL. Once the valuation has been completed by GLOVAL’s technical team, a comprehensive report will be made available to the client. This report will detail the valuation principles, criteria, and parameters applied, the verifications performed, the calculation methods used, and the final valuation conclusions reached—all in accordance with the applicable regulations and tailored to the requested purpose.

A ‘Customer’ is defined as a natural or legal person, with the capacity to enter into contracts under the legislation applicable to them in accordance with their nationality, who registers via the form provided for that purpose and requests the provision of the Services. The provision of personal data and the purchase of products via our website require the capacity to give consent and to possess the legal capacity necessary to contract the services offered on this website in one’s own name. The Services are provided to the Customer in their capacity as the recipient or end-user thereof; the resale or marketing of the Service, as well as the assignment of the contract without the express authorisation of Gloval, is strictly prohibited.

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 payment of the valuation fee has been confirmed, the assigned valuer will contact the client to arrange a viewing of the property. The assigned surveyor will contact the person named on the application within 24 to 48 hours (excluding Saturdays and public holidays) to arrange the property viewing and for the client to provide the necessary documentation.

The visit will take place as soon as possible, subject to the availability of the person designated by the applicant to grant access to the property and the surveyor’s schedule, based on the order in which service requests were received.

Once the work is fully completed, the report will be sent to the email address provided by the client in a digitally signed PDF format.

Should you, for any reason, not receive the valuation report by email, you may, at any time, report the issue via email to atencionalcliente@gloval.es.

Should you require a hard copy, you will be required to pay the corresponding fee. The report will be in Spanish.

The timeframe for completing the work shall be as stipulated in the agreed terms and conditions, starting from the date of the site visit, provided that the client has previously submitted all the required documentation.

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.

In accordance with 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 its registered office at Avenida de Manoteras 44, Madrid, and tax identification number (CIF) A28903920—informs you (and you, as the client, expressly consent to and accept) that the personal data provided within the framework of this Agreement will be incorporated into a file for which Gloval is responsible. This data will be processed for the following purposes:
i. to effectively carry out the formalization, maintenance, development, fulfillment, and/or monitoring of your contractual relationship with Gloval; you expressly authorize the use of your national identification number (DNI) as an identifier for managing payment operations and monitoring any resulting transactions.
ii. to manage and address any questions or issues raised by the client.
Furthermore, the client consents to the disclosure of the provided personal data to:
ii. judicial bodies and courts, tax authorities, and/or any other public administration, when required by law for the fulfillment of Gloval’s obligations.
The client may exercise their rights of access, rectification, erasure, and objection regarding the processing of their data, free of charge, by sending a written communication to Gloval Valuation, S.A.U. (Avenida de Manoteras 44, Madrid; tax identification number [CIF] A28903920) or by emailing atencionalcliente@gloval.es, including the reference “Personal Data Protection” in the communication.

The client may, at any time, revoke their consent to receive commercial communications by sending an email to atencionalcliente@gloval.es.

These General Terms and Conditions shall be governed by the Spanish laws in force at any given time.

Any dispute that cannot be resolved amicably shall be subject to the jurisdiction of the Courts and Tribunals of the city of Madrid for any customer who is not a consumer or user as defined by Royal Legislative Decree 1/2007 of 16 November, which approves the consolidated text of the General Law for the Protection of Consumers and Users and other supplementary laws. For disputes affecting consumers and users as set out above, the provisions of the applicable procedural law regarding jurisdiction shall apply.