Property valuation

A property valuation is complete by a third party in order to be neutral. The purpose is to guarantee to the bank that the property is worth the amount you are asking for. This reduces the risk for the bank.


Your mortgage account manager will request property documents from you and help you to set up the valuation of the property you wish to purchase. Once the payment has been made for the valuation the bank will book a date and time for the valuation to take place. The cost of the property valuation will depend on the bank. Some banks offer 50% reimbursement after the mortgage transaction is complete. 


  • Commonly requested property documents:

For primary/handover transactions (direct from developers):

Title deed copy

Floor plan copy

Seller IDs (passport, visa, Emirates ID)

Valuation fee payment transfer receipt


For secondary/resale:

MOU/Form F signed by both seller and buyer

Title deed copy

Floor plan copy

Seller IDs (passport, visa, Emirates ID)

Valuation fee payment transfer receipt




  • Property valuation received 

When the valuation has been completed and the valuation report has been received our team will send an email to you with all the information about the valuation. 


There are two scenarios at this stage: 


    - The valuation is the exact value or higher than expected 

This is great news! You can move on with your property purchase.


    - The valuation is lower than expected

In this case, you can either choose to pay the difference between the property valuation price and the mortgage offer. Or, we can try to challenge the valuation. Usually, this requires proof of similar properties in the building or area at the price you were expecting and asking the bank to reevaluate. We will work together with you to try to find the best solution for you. 

 

 


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