Who can sign an appraisal
No single law says who can appraise a property. The requirements depend on who is going to receive the avalúo (appraisal).
Before hiring, ask which institution the avalúo is for and ask the appraiser for the registration number that institution requires.
When it is needed and what for
| Situation | What the rule says | Does it require an avalúo? |
|---|---|---|
| Home loan | In self-build loans, the 2011 guidelines set the value of the land given as collateral with an avalúo from an appraiser registered with SUDEBAN | Yes in that case; for other loans, ask the bank what it requires |
| Declaración sucesoral (estate tax return) | The value of each asset is declared as of the date of death; if it is below market value, it must be justified (arts. 23 and 28 of the Ley de Impuesto sobre Sucesiones) | Not expressly, but it helps justify the value |
| Sale between relatives | If the market value exceeds the price by 20% or more, the difference is treated as a gift (art. 70) | No, but it is wise to have a supported value |
| Court case (seizure, auction) | Justiprecio by appraisers named by the parties and the court (CPC, arts. 556 to 559) | Yes, unless the parties set it by mutual agreement (art. 562) |
| Private cash sale | The Ley de Registros y Notarías (Registries and Notaries Law) works with the transaction price | No |
If the property comes from an inheritance, the steps for the declaration and the sale are in the guide on selling an inherited property.
A market appraisal and the valor catastral are not the same
The valor catastral (cadastral value) is set by the alcaldía (municipal government) to collect the Impuesto sobre Inmuebles Urbanos (urban property tax). Under article 175 of the Ley Orgánica del Poder Público Municipal (Municipal Public Power Law), it is set using the current market price as a reference, and the tax base can never exceed market value. That market price is the one normally paid for similar properties in the month before the valuation, in sales under free competition between an unrelated buyer and seller. The detail for each municipality is in the guide on the Impuesto sobre Inmuebles Urbanos.
The avalúo comercial (market appraisal) is a report an appraiser prepares on a specific property, for a purpose and as of a date. One does not replace the other: having the cédula catastral (cadastral certificate) does not substitute for the avalúo a bank or a court asks for.
If the Registro or SENIAT use a different value
The Registro (public property registry). The Ley de Registros y Notarías calculates its charges on the transaction: it refers to the "valor de la operación que vaya a inscribirse" (value of the transaction to be registered) (art. 84) and, for the municipal tax paid on registration, it takes the "precio total de la venta" (total sale price) when part of the payment goes to third parties (art. 92). In the text of the law, the word "avalúo" only appears for in-kind contributions to companies at the Registro Mercantil (commercial registry) (art. 57). We found no rule that authorizes the registrar to replace the agreed price with their own appraisal. Press reports about registries charging on a higher value, and what to do, are in the guide on closing costs of a purchase.
SENIAT (the national tax authority). The Ley de Impuesto sobre Sucesiones, Donaciones y demás Ramos Conexos (Gaceta Oficial No. 5.391 Extraordinario, October 22, 1999) does allow it to use a different value in these cases:
We could not review the SENIAT portal, which does not load from outside Venezuela. If you receive a reparo, consult a tax lawyer.
What the report must contain
The International Valuation Standards (IVS) of the International Valuation Standards Council (an international reference, not Venezuelan law), in their edition mandatory since January 31, 2025, require every report to state, among other points (IVS 106, paragraph 30.6):
What it costs and how long it lasts
There is no legal fee for a private avalúo. The only published guide we found is SOITAVE's: its Resolución No. 001-2024 (April 3, 2024) sets suggested minimum fees for its members, according to the appraiser's rating, which depends on their years of experience. The amounts are in dollars, at the BCV (Central Bank of Venezuela) rate on the value date of the valuation report:
| Property type | 0 to 2 years of experience | 6 to 10 years | More than 25 years |
|---|---|---|---|
| Apartment (propiedad horizontal, condominium property) | US$ 74 | US$ 202 | US$ 493 |
| House, quinta (detached house) or bienhechuría (a structure built without title to the land) | US$ 93 | US$ 253 | US$ 616 |
| Urban land | US$ 93 | US$ 253 | US$ 616 |
| Galpón (warehouse) | US$ 112 | US$ 303 | US$ 740 |
Work expenses (travel, printing, purchase of information) are charged separately. The table does not mention IVA (value added tax). It is a minimum suggested by a private professional society to its members, not an official fee or a mandatory price: each appraiser sets their own price. As of October 27, 2026 it was the most recent table in the regulations section of its website. In the self-build loans under the 2011 guidelines, the cost of that avalúo is part of the loan's administrative expenses percentage.
Validity. We found no general rule, and no SOITAVE rule, that sets how long an avalúo is valid. An avalúo is valid for its valuation date; whoever receives it decides whether to accept it. Ask the bank or the court what maximum age it accepts before you commission one. For an inheritance, the value that counts is the one on the date of death (art. 23), not today's.