Appraisal Request Form Template for Saudi Arabia

When you need a professional valuation in Saudi Arabia, the Appraisal Request Form serves as your formal gateway to engaging certified valuation services. This document initiates the valuation process while ensuring compliance with the Saudi Authority for Accredited Valuers (TAQEEM) regulations and the Accredited Valuers Law. By completing this form accurately, you establish clear expectations with your chosen valuation firm and provide the necessary foundation for a legally compliant appraisal report.

When do you need this document?

You'll need an Appraisal Request Form whenever you require professional asset valuation services in Saudi Arabia. This includes situations where you're seeking property valuations for mortgage financing, business appraisals for mergers and acquisitions, asset valuations for insurance purposes, or compliance with regulatory requirements. Financial institutions typically require this form before processing loan applications involving real estate or business assets. Additionally, legal proceedings, estate settlements, and corporate restructuring often necessitate formal valuation requests to ensure accurate asset pricing according to Saudi standards.

Key legal considerations

Your Appraisal Request Form must clearly specify the valuation purpose, as this directly impacts the valuation approach and methodology used by the certified valuer. The document should identify all relevant parties, including property owners, financial institutions, and legal representatives, ensuring transparency throughout the process. You must provide comprehensive asset information, including location details, property types, and any encumbrances or restrictions that may affect value. The form should also specify your required timeline and any special circumstances that might influence the valuation, such as pending legal disputes or environmental concerns.

Legal requirements in Saudi Arabia

Under Saudi law, your Appraisal Request Form must engage only TAQEEM-certified valuers who are qualified to provide legally recognized valuation services. The document must comply with Saudi Valuation Standards (2022), which outline specific reporting requirements and methodological approaches for different asset types. Your form should reference applicable Islamic Shariah principles, particularly when valuing assets for Islamic financing purposes. Commercial registration numbers must be included for business entities, and the valuation basis should align with recognized international standards adapted for the Saudi market. Additionally, the form must specify whether the valuation is for regulatory compliance, ensuring the selected valuer has appropriate credentials for your specific purpose.