Acceptance Of Appraisal Letter Template for Philippines

The Acceptance Of Appraisal Letter is a crucial document in Philippine real estate and business transactions where formal property valuations are required. This document is typically used when a party needs to officially acknowledge and accept a professional appraisal report, whether for purchase transactions, loan collateral, insurance purposes, or regulatory compliance. The letter serves as documentary evidence that the recipient has reviewed and agreed to the findings of the appraisal report, including the determined property value and any material conditions. Under Philippine law, particularly the Real Estate Service Act and related regulations, such formal acceptance may be required for various legal and business purposes, including property transactions, loan processing, or tax compliance. The document helps establish clear communication between parties and can be important for audit trails and legal documentation.

1. Letter Date and Reference Number: Current date and any reference numbers for proper documentation

2. Recipient Details: Complete name and address of the appraiser or appraisal company

3. Subject Line: Clear indication that this is an acceptance of appraisal with reference to the specific property

4. Appraisal Identification: Details of the appraisal being accepted, including date and reference number

5. Property Description: Brief description of the subject property being appraised

6. Acceptance Statement: Clear and unequivocal statement accepting the appraisal and the appraised value

7. Acknowledgment of Terms: Confirmation of understanding of any key terms or conditions in the appraisal

8. Closing and Signature Block: Formal closing, signature space, and title of the accepting party