Appraisal Request Form Template for Philippines

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Key Requirements PROMPT example:

Appraisal Request Form

"I need an Appraisal Request Form for a multi-unit commercial building in Makati City that will be used for refinancing purposes with BDO Bank, requiring rush processing for completion by March 2025."

Document background

The Appraisal Request Form is a crucial document used in the Philippine real estate and financial sectors to initiate professional property valuation services. It is designed to comply with the requirements of the Real Estate Service Act (RESA Law) and relevant BSP guidelines governing property appraisal practices in the Philippines. This document is typically used when parties require an official valuation of real property for purposes such as sale, mortgage, insurance, tax compliance, or legal proceedings. The form collects comprehensive information about the subject property, the requesting party, the purpose of the appraisal, and specific requirements for the valuation process. It serves as the foundation for the appraiser's scope of work and ensures that all necessary information is properly documented for regulatory compliance and professional standards.

Suggested Sections

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

2. Subject Property Details: Comprehensive information about the property to be appraised including address, type, current use, and title information

3. Purpose of Appraisal: Stated purpose for the appraisal (e.g., loan purposes, sale, insurance, tax compliance) and intended use of the report

4. Type of Value Required: Specification of the type of value needed (market value, fair value, liquidation value, etc.)

5. Preferred Inspection Date: Proposed date and time for property inspection

6. Access Information: Contact details for property access and any special instructions or requirements for inspection

7. Required Completion Date: Expected timeline for the completion of the appraisal report

8. Authorization: Client's authorization for the appraisal and acknowledgment of associated fees

Optional Sections

1. Previous Appraisal History: Information about any previous appraisals of the property, used when the property has been appraised before

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

3. Third Party Authorization: Authorization for sharing the report with specified third parties, included when the report will be shared with other parties like banks or investors

4. Rush Request: Special section for expedited processing, included when urgent completion is required

5. Multiple Property Details: Additional section for multiple properties under one request, used when requesting appraisal for multiple properties

Suggested Schedules

1. Property Document Checklist: List of required documents to be submitted with the request (e.g., title, tax declarations, building permits)

2. Fee Schedule: Breakdown of appraisal fees and payment terms

3. Terms and Conditions: Standard terms and conditions for the appraisal service

4. Property Photos: Attachment section for existing property photos or documents, if available

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate

Banking and Finance

Insurance

Construction and Development

Legal Services

Government and Public Sector

Property Management

Asset Management

Mortgage and Lending

Relevant Teams

Real Estate Services

Valuations

Credit Risk

Mortgage Processing

Legal

Property Management

Asset Management

Investment Analysis

Insurance Underwriting

Loan Processing

Compliance

Documentation

Relevant Roles

Real Estate Appraiser

Property Valuer

Real Estate Manager

Bank Loan Officer

Mortgage Specialist

Property Developer

Real Estate Broker

Asset Manager

Insurance Underwriter

Property Assessment Officer

Real Estate Attorney

Investment Analyst

Property Portfolio Manager

Credit Risk Officer

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Authors

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