Appraisal Request Form - United Arab Emirates

Appraisal Request Form for United Arab Emirates

Appraisal Request Form Template for United Arab Emirates

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What is a Appraisal Request Form?

The Appraisal Request Form is a crucial document in the UAE real estate and financial sectors, designed to initiate and standardize the property valuation process. This document is specifically tailored to comply with UAE federal laws, RERA regulations, and local emirate-specific requirements. It is typically used when a property valuation is needed for various purposes such as sale, purchase, mortgage applications, insurance, or legal proceedings. The form captures comprehensive information about the property, the requesting party, and the specific requirements of the valuation, ensuring that all necessary details are provided to the valuation professional. The structured format of the Appraisal Request Form helps maintain consistency in valuation requests across the UAE market while meeting regulatory compliance requirements.

What sections should be included in a Appraisal Request Form?

1. Client Information: Details of the requesting party including full name, contact information, and legal status (individual/company)

2. Subject Property Details: Comprehensive information about the property to be valued including address, type, size, and current usage

3. Purpose of Valuation: Clear statement of the intended use of the valuation (e.g., sale, mortgage, insurance, legal proceedings)

4. Type of Valuation Required: Specification of the valuation type needed (market value, rental value, replacement cost, etc.)

5. Access Arrangements: Details for property inspection including contact person, preferred dates/times, and any access restrictions

6. Timeline Requirements: Expected completion date and any specific timing requirements

7. Declaration: Client's confirmation of information accuracy and authorization for the valuation

What sections are optional to include in a Appraisal Request Form?

1. Previous Valuation History: Details of any previous valuations, used when the property has been valued before

2. Special Instructions: Any specific requirements or considerations for the valuation, included when there are unique circumstances

3. Third Party Authorization: Authorization for sharing valuation information with specified third parties, used when results need to be shared with banks or other institutions

4. Development Details: Information about planned or ongoing development, included for properties under construction or renovation

5. Tenancy Information: Details of current lease agreements, included for tenanted properties

What schedules should be included in a Appraisal Request Form?

1. Schedule A - Property Documents Checklist: List of required documents to be submitted with the request (title deed, floor plans, etc.)

2. Schedule B - Fee Structure: Breakdown of valuation fees and payment terms

3. Schedule C - Terms and Conditions: Standard terms and conditions for the valuation service

4. Appendix 1 - Property Photographs: Space for attaching recent photographs of the property

5. Appendix 2 - Location Maps: Area maps showing property location and surrounding amenities

Authors

Alex Denne

Head of Growth (Open Source Law) @ ��Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions

Clauses

Relevant Industries

Real Estate

Banking & Finance

Insurance

Legal Services

Construction & Development

Property Management

Government & Public Sector

Mortgage Services

Asset Management

Professional Services

Relevant Teams

Real Estate

Valuations

Legal

Compliance

Risk Management

Property Management

Asset Management

Mortgage Services

Insurance

Operations

Relevant Roles

Real Estate Appraiser

Property Valuer

Mortgage Officer

Real Estate Manager

Legal Counsel

Property Developer

Asset Manager

Bank Manager

Insurance Underwriter

Property Portfolio Manager

Real Estate Consultant

Compliance Officer

Risk Assessment Manager

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What is a Appraisal Request Form?

What sections should be included in a Appraisal Request Form?

What sections are optional to include in a Appraisal Request Form?

What schedules should be included in a Appraisal Request Form?

Authors

Alex Denne

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