Property Appraisal
Property appraisal is the formal process of estimating market value conducted by licensed professionals using standardized methodologies, typically required for mortgage financing.
| Appraisal Process | Steps |
| Property inspection | Physical examination of subject property |
| Data collection | Comparable sales, income data, market trends |
| Valuation approach selection | Sales comparison, income, or cost approach |
| Analysis and adjustments | Reconcile differences between subject and comps |
| Final value opinion | Written appraisal report |
| Review and delivery | Lender review and approval |
| Dubai Appraisal Context | Details |
| Required for financing | All bank mortgages mandate appraisal |
| Cost | AED 2,500 to 3,500 |
| Timeline | 3 to 7 business days |
| Validity period | 3 to 6 months |
| Bank-approved appraisers only | Cannot choose your own appraiser |
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