Appraisal Fee (AF) usually ranges from Php 3,500 to Php 5,500. This is paid to the banks to estimate the value of the property. They will base the value on the location, size, materials used, design and build, value of adjacent properties, property age, resell potential, physical condition, etc. The appraised value will also be the reference of the loanable amount, subject to the loan-to-value (LTV) ratio policy of the bank. Appraisal fees are shouldered by buyers or borrowers.
AFs are waived for properties/developers with a Deed of Undertaking (DOU) agreement with the banks. All other mortgages under the Real Estate Mortgage (REM) requires payment of Appraisal Fees.
How to pay the Appraisal Fee (AF)?
Over-the-counter (OTC): For borrowers who are not account holders of the bank.
Auto Debit: For borrowers who are account holders of the bank.
Exceptional Handling: Some banks have their preferred way of paying the appraisal fee, such us securing an AF Payment Letter. Click the bank names to view each bank's options and procedures.
BANK APPRAISAL FEES SUMMARY:
Php 5,000 – within Metro Manila
Php 5,000 to Php 5,500
• Within Metro Manila =
Php 3,500 - within Metro Manila