As of today,buying and selling homes in Spain is facing a major hurdle: the mortgage appraiser strike called by the Spanish Association of Mortgage Appraisers (AETH),which runs until this Friday,december 19. Under the slogan “Without appraisal, there’s no mortgage,” the appraisers are demanding a deal that improves their working conditions and pay, and they warn that the lack of their services has a direct and noticeable effect on society and the real estate market.
An essential Service in the Real Estate Market
Mortgage appraisers are technical professionals who independently assess the real value of properties. This appraisal is crucial for banks to approve mortgages securely and transparently. Without these reports, buyers can’t finance a home purchase, and sellers can’t confidently close deals.
However, the AETH claims that appraiser fees have fallen considerably over the last fifteen years, while banks and appraisal companies continue to increase their profits. current rates barely cover half the actual costs,and the rise of false self-employment and hidden commissions have made the profession unstable. This doesn’t just affect appraisers; it impacts everyone’s ability to access housing fairly and safely.
Direct Impact on Buyers and Sellers
The strike is immediately impacting anyone buying or selling a home. First, banks can’t approve mortgages without an appraisal, which delays or even prevents deals from going through.