The most important data contained in the real estate appraisal report according to the specifications of the Saudi Commission for Certified Valuers:
- Applicant data:
- Applicant’s name and address. and his phone number. and the date of assessment.
- The purpose of the assessment.
- Type of drug.
- The type of method used in the assessment.
- The data of the property being evaluated:
- Property description, location, and size. and type of construction. and the state of construction. Facilities and services available.
- Real estate market data:
- Information about the prices of similar properties in the area.
- Current real estate market trends.
- Factors affecting the real estate market.
- Evaluation method:
- The method used in the evaluation. and the justification for its use.
- The analysis performed using the method.
- Evaluation results:
- The market value of the property.
- Value limits.
- The reason for the difference.
- Assessor’s recommendations:
- The evaluator’s recommendations to the beneficiary of the evaluation. such as recommendations for management, maintenance, or development.
In addition to this data. The evaluation report may contain other data. Like this:
- Factors that affect the value of the property: Such as location, amenities, and services. and governmental organizations. and economic conditions.
- Risks to the property: such as natural hazards. and human hazards. and economic risks.
- Recommendations for managing the property: Such as recommendations for management, maintenance or development.
Below is a brief explanation of each of these statements:
Applicant data:
This data must include sufficient information to identify the applicant and their relationship to the property being assessed. For example. If the applicant is the owner of the property. The report should include their name, address, and phone number. If the applicant is representing another party. Like a financial institution. The report must include the organization’s name, address, and phone number.
Data of the property being evaluated:
This data must be accurate and comprehensive. It should reflect the current condition of the property. The report should include a detailed description of the property. including its location, area. and type of construction. and the state of construction. Facilities and services available. The report should also include photos of the property. If possible.
Real estate market data:
This data must be accurate and up-to-date. It should reflect the current conditions of the real estate market in the region. The report should include information on the prices of similar properties in the area. including the date of the transaction. And the location of the property. and type of construction. And the area of the property. The report should also include information on current real estate market trends. such as growth or decline rates.
Evaluation method:
The report should explain the method used in the evaluation. and the justification for its use. There are three main approaches to real estate valuation:
* **أسلوب السوق:** يعتمد هذا الأسلوب على مقارنة العقار محل التقييم بعقارات مماثلة في السوق.
* **أسلوب الدخل:** يعتمد هذا الأسلوب على القيمة الحالية للدخل المستقبلي المتوقع من العقار.
* **أسلوب التكلفة:** يعتمد هذا الأسلوب على تكلفة إعادة إنتاج أو استبدال العقار.
Evaluation results:
This data should show the market value of the property. and value limits. And the reason for the difference.
Assessor’s recommendations:
These statements should include the evaluator’s recommendations for the beneficiary of the evaluation. such as recommendations for management, maintenance, or development.
The real estate appraisal report must be written in Arabic. It should be clear and understandable to users.
Here are some tips for preparing a thorough and accurate real estate appraisal report:
- Gather information carefully and accurately.
- Use appropriate methods of assessment.
- Analyze data carefully and objectively.
- Present the results in a clear and understandable way.
By following these tips. You can prepare a real estate valuation report that meets the requirements of the Saudi Commission for Accredited Valuers (SCAV). It provides real value to the recipient of the assessment.
