Property Evaluation Form Template for South Africa

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Key Requirements PROMPT example:

Property Evaluation Form

"I need a Property Evaluation Form for a mixed-use commercial building in Cape Town, South Africa, to be used for a mortgage application with First National Bank in March 2025, with particular focus on income-generating potential and current tenant occupancy."

Document background

The Property Evaluation Form is a critical document in South African real estate transactions and property-related decisions. It is designed to meet the requirements of the Property Valuers Profession Act 47 of 2000 and other relevant South African legislation. This form is used when a professional evaluation of property is required for purposes such as sale, purchase, mortgage applications, insurance, legal proceedings, or municipal ratings. The document includes comprehensive sections covering property identification, physical characteristics, legal status, market analysis, and value determination. As a Property Evaluation Form, it serves as both a working document for valuers and a formal record of professional opinion, requiring careful attention to detail and compliance with industry standards set by the South African Council for Property Valuers Profession.

Suggested Sections

1. Property Identification: Comprehensive details of the property including physical address, erf number, title deed number, and zoning information

2. Instruction Details: Purpose of valuation, client details, and date of inspection

3. Property Description: Detailed physical description including size, construction, condition, and improvements

4. Location Analysis: Assessment of the neighborhood, amenities, and factors affecting property value

5. Legal Considerations: Existing rights, restrictions, servitudes, and compliance issues

6. Market Analysis: Current market conditions, comparable sales, and market trends

7. Valuation Methodology: Explanation of valuation approach and methods used

8. Value Assessment: Final value determination with supporting calculations

9. Declaration: Valuer's professional declaration and compliance statement

Optional Sections

1. Environmental Factors: Assessment of environmental issues and impacts, used when environmental concerns are relevant

2. Historical Significance: Evaluation of historical value and heritage status, required for heritage properties

3. Income Analysis: Detailed income and expense analysis, used for income-producing properties

4. Development Potential: Assessment of future development possibilities, relevant for vacant land or redevelopment properties

5. Agricultural Assessment: Specific evaluation of agricultural aspects, required for farm properties

6. Sectional Title Analysis: Specific considerations for sectional title properties, used for apartments/units

Suggested Schedules

1. Photographic Schedule: Comprehensive photographs of the property and relevant features

2. Title Deed Extract: Relevant extracts from the title deed showing ownership and restrictions

3. Zoning Certificate: Current zoning information and permitted uses

4. Location Maps: Maps showing property location and surrounding area

5. Comparable Sales Data: Detailed information on comparable property sales used in valuation

6. Building Plans: Approved building plans and layout drawings

7. Valuation Calculations: Detailed calculations supporting the final valuation

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate

Banking & Finance

Insurance

Property Development

Construction

Legal Services

Public Sector

Agriculture

Commercial Property

Residential Property

Relevant Teams

Real Estate

Valuations

Risk Assessment

Legal

Property Management

Asset Management

Underwriting

Property Development

Investment

Operations

Relevant Roles

Property Valuer

Real Estate Agent

Property Manager

Mortgage Broker

Bank Manager

Insurance Underwriter

Property Developer

Property Lawyer

Municipal Valuer

Asset Manager

Real Estate Investment Manager

Property Portfolio Manager

Risk Assessment Officer

Property Consultant

Development Manager

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