The Property Evaluation Form is a crucial document in Nigerian real estate transactions and property management, designed to meet the requirements of the Land Use Act of 1978 and professional valuation standards. This form is typically used when a formal assessment of property value is needed for transactions, mortgage applications, insurance purposes, or tax assessments. The document includes detailed property descriptions, market analysis, physical condition assessments, and value determinations, all conducted by licensed professionals in accordance with Nigerian law. Property Evaluation Forms are essential tools for ensuring transparent and standardized property valuations across different regions of Nigeria, providing a reliable basis for real estate decisions and transactions.
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1. Property Identification: Basic details including property address, registration number, and unique identifiers
2. Ownership Information: Current owner's details, title documentation, and ownership history
3. Property Description: Physical characteristics, size, construction details, and current condition
4. Location Analysis: Neighborhood characteristics, accessibility, and surrounding developments
5. Legal Status: Title details, encumbrances, and any legal restrictions
6. Physical Assessment: Detailed evaluation of structural conditions, facilities, and improvements
7. Market Analysis: Current market conditions, comparable properties, and market trends
8. Valuation Methodology: Description of approaches used for evaluation
9. Value Assessment: Final value determination with supporting calculations
10. Certification: Evaluator's professional certification and declaration
1. Environmental Assessment: Environmental factors and impacts, used when environmental concerns are relevant
2. Income Analysis: Rental income and operating expenses, used for income-producing properties
3. Development Potential: Analysis of possible future development, used for vacant land or properties with development potential
4. Special Features: Unique characteristics or historical significance, used for properties with distinctive attributes
5. Zoning Analysis: Detailed zoning requirements and restrictions, used when zoning significantly impacts value
6. Agricultural Assessment: Soil quality and farming potential, used for agricultural properties
1. Appendix A - Photographs: Comprehensive photographic documentation of the property
2. Appendix B - Location Maps: Maps showing property location and surrounding area
3. Appendix C - Title Documents: Copies of relevant title and ownership documents
4. Appendix D - Floor Plans: Detailed plans and measurements of the property
5. Appendix E - Comparable Sales Data: Details of similar properties sold in the area
6. Appendix F - Calculation Worksheets: Detailed valuation calculations and methodologies
7. Appendix G - Professional Certifications: Copies of evaluator's professional credentials and licenses
Authors
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Banking
Insurance
Construction
Property Development
Agricultural Land
Commercial Property
Residential Property
Industrial Property
Public Sector
Legal Services
Relevant Teams
Real Estate
Valuations
Legal
Property Management
Asset Management
Risk Assessment
Mortgage Services
Investment Analysis
Property Development
Facilities Management
Relevant Roles
Real Estate Appraiser
Property Valuer
Estate Surveyor
Real Estate Manager
Mortgage Officer
Property Lawyer
Development Manager
Asset Manager
Investment Analyst
Property Tax Assessor
Insurance Underwriter
Real Estate Agent
Property Administrator
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