If you are considering buying, selling, or even mortgaging a property in Saudi Arabia, you need to know about something very important: Certified Real Estate Appraisal. This official report determines the true value of the property, and it’s not just talk—it’s a document approved by the Saudi Authority for Accredited Valuers (Taqeem).
What is the Saudi Authority for Accredited Valuers “Taqeem”?
The Saudi Authority for Accredited Valuers “Taqeem” Taqeem is the official body responsible for regulating the valuation profession in the Kingdom. It was established to regulate the real estate valuation market and ensure that valuers operate according to international standards. The Authority oversees everything related to valuation: from real estate to commercial facilities, machinery, and even precious metals.
Simply put, Taqeem is the authority that ensures the valuation you receive is accurate and reliable.
Why do you need a certified real estate appraisal?
A certified real estate appraisal is not a luxury—it is often mandatory in many cases:
- Buying or selling a property: To know the fair price and avoid being misled.
- Mortgaging a property: Banks require a certified appraisal before approving a loan.
- Resolving real estate disputes: Courts rely on valuation reports in inheritance and dispute cases.
- Zakat and tax: Determining the value of a property for zakat and real estate transaction tax purposes.
- Insurance: To know the value of your real estate assets when insuring them.
How is a real estate appraisal conducted?
Appraisal is not just a random number. A certified valuer studies:
🔹 Property location and size
🔹 Construction specifications and finishes
🔹 Prices of neighboring properties (market comparison)
🔹 Economic factors affecting the property’s value
🔹 Expected income (for investment properties)
After that, they issue an official appraisal report reflecting the fair market value of the property.
Electronic services from Taqeem
The Authority has provided electronic platforms to facilitate the appraisal process:
- Qaym System: A platform where you can request an electronic real estate appraisal.
- Qima: A portal for valuers to manage their membership and provide services.
- Taqdeer: A regulatory platform.
- Marjea: A digital platform for obtaining a reference price for vehicles.
How to become a certified real estate valuer?
If you want to enter the field, the Taqeem Academy offers training and qualification courses for valuers. After that, you can obtain membership in the Authority and start practicing the profession officially. There are professional conditions and standards you must adhere to in order to maintain your license.
Difference between certified appraisal and ordinary appraisal
Ordinary appraisal can be done by you or any real estate office. However, a certified appraisal is an official report from a valuer registered with the Authority, recognized judicially and by banks. The difference is like the difference between ordinary talk and a court ruling—the biggest advantage is trust and standardization.
Frequently Asked Questions (FAQ)
Is a certified real estate appraisal mandatory for all transactions?
It is not required for everything, but in transactions such as mortgaging, litigation, and zakat, yes—banks and courts require it.
How much does a certified real estate appraisal cost?
The cost varies depending on the size, type, and location of the property. It is best to contact a certified valuer to know the specific price.
How can I verify if the valuer is certified?
You can check the valuer’s membership in the Saudi Authority for Accredited Valuers through the Taqeem website at taqeem.gov.sa.
How long does a property appraisal take?
Usually between one to five business days, depending on the complexity of the property and the availability of information.
Is an electronic appraisal approved?
The “Qaym” system provides an electronic reference appraisal, but official transactions require a report from a certified valuer.
What are the penalties for informal valuation?
The authority monitors violations and applies penalties to unlicensed or non-compliant appraisers.
