Legal Templates
Sales Appraisal Form

Sales Appraisal Form for Malaysia

Sales Appraisal Form Template for Malaysia

A comprehensive property valuation document used in Malaysia that provides a professional assessment of a property's market value. The document complies with Malaysian Valuation Standards and the Valuers, Appraisers and Estate Agents Act 1981, offering detailed analysis of property characteristics, market conditions, and value determinants. It serves as an official record for various purposes including sales, financing, insurance, and legal proceedings, incorporating local market knowledge and Malaysian property regulations.

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What is a Sales Appraisal Form?

The Sales Appraisal Form is a crucial document in Malaysian property transactions, used to establish the fair market value of real estate assets. This document is required when selling property, securing financing, for insurance purposes, or in legal proceedings. The form must comply with Malaysian Valuation Standards and be completed by licensed valuers under the Valuers, Appraisers and Estate Agents Act 1981. It includes comprehensive property analysis, market comparisons, and value assessments, serving as a reliable reference for all parties involved in property transactions. The Sales Appraisal Form particularly considers local market conditions, property characteristics, and legal requirements specific to the Malaysian real estate market.

What sections should be included in a Sales Appraisal Form?

1. Property Identification: Basic details including property address, lot number, title details, and property type

2. Client Information: Details of the client requesting the appraisal, including contact information and purpose of valuation

3. Property Description: Detailed description of the property including land area, built-up area, number of rooms, and general condition

4. Location Analysis: Assessment of the property's location, surrounding amenities, and accessibility

5. Construction Details: Information about building materials, age, and quality of construction

6. Market Analysis: Current market conditions, recent comparable sales, and market trends

7. Valuation Methodology: Explanation of the approach used to determine the property value

8. Value Assessment: The estimated market value with supporting rationale

9. Certification: Valuer's certification and compliance with Malaysian Valuation Standards

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

1. Environmental Factors: Assessment of environmental issues or risks, used when the property has significant environmental considerations

2. Planning Controls: Analysis of zoning and planning restrictions, included when relevant to the property's value or future use

3. Specialized Features: Description of unique property features that affect value, used for properties with non-standard characteristics

4. Development Potential: Analysis of potential for development or renovation, included when relevant to the property's highest and best use

5. Rental Assessment: Analysis of rental potential and yields, included when the property has investment potential

What schedules should be included in a Sales Appraisal Form?

1. Photograph Schedule: Comprehensive photographic documentation of the property's interior and exterior

2. Location Maps: Maps showing the property's location and surrounding area

3. Title Documents: Copies of relevant title documents and encumbrances

4. Comparable Sales Analysis: Detailed analysis of recent comparable property sales

5. Floor Plans: Detailed floor plans and land surveys where available

6. Building Condition Report: Detailed assessment of the building's condition and maintenance requirements

Authors

Alex Denne

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

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Jurisdiction

Malaysia

Publisher

Genie AI

Document Type

Evaluation Form

Sector

Corporate Governance

Cost

Free to use
Relevant Industries

Real Estate

Banking & Finance

Property Development

Construction

Legal Services

Insurance

Property Investment

Asset Management

Relevant Teams

Real Estate

Valuations

Property Management

Legal

Finance

Risk Assessment

Mortgage

Asset Management

Investment

Business Development

Operations

Relevant Roles

Property Valuer

Real Estate Agent

Property Manager

Mortgage Officer

Bank Manager

Property Developer

Asset Manager

Investment Analyst

Insurance Underwriter

Legal Counsel

Property Consultant

Financial Advisor

Industries
Valuers, Appraisers and Estate Agents Act 1981: This is the primary legislation governing property valuations and appraisals in Malaysia. It sets out the requirements for qualified valuers and the standards for property appraisals.
Malaysian Valuation Standards (MVS): These standards provide the framework and guidelines for property valuation in Malaysia, ensuring consistency and professionalism in appraisal practices.
Contracts Act 1950: This Act governs the formation and enforcement of contracts in Malaysia, including agreements related to property appraisals and subsequent sales.
Consumer Protection Act 1999: Protects the interests of consumers in property transactions, ensuring fair practices and accurate representations in property appraisals.
Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001: Requires due diligence in property transactions to prevent money laundering, affecting how property valuations and transactions are conducted.
Personal Data Protection Act 2010: Governs the collection and handling of personal data during the appraisal process, ensuring privacy and data protection compliance.
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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