SAIV NORTHERN BRANCH MENTORSHIP PROGRAMME
You have been instructed by the SAIV to determine the market value of the following properties:
1. Erf 2252 Dainfern Ext 34
2. Erf 195 Dunkeld
2. Erven 896 and 897 Hurlingham Ext 5
You are required to determine the Market Value of each property as at 1 January 2021. The Valuation process requires you to have a good understanding of the property market and prevailing market conditions. Therefore, it is important to continuously read property related material and keep abreast with current market climate as well as property trends. In addition to the articles you have been given, read similar type material on the internet/ newspapers that you can find.
With regards to the market research section of the report, you are required to speak to at least 3 agents who specialise in the specific area you are looking at to determine the sales rate, sales tempo and market activity under the prevailing market conditions. Your report must include at least 3 registered comparable sales and 3 comparables of properties that are still in the market. In the Summary and Conclusion section of the report you must detail the information received from the estate agents you spoke to and also include their name, company, and contact details. An analysis of both registered and unregistered sales must be done in order to reach your conclusion.
The following supporting information has been given to you to enable you to carry out your instruction:
- Zoning information
- Title Deed
- SG Diagrams
- Windeed report
- Lightstone report
- Articles from various sources
- Erf 896 Hurlingham has been rezoned from Residential 1 to Residential 2 and is earmarked for a high-density residential development. However, you are required to value as Residential 1 taking it’s highest and best use into consideration.
- Similarly, the Dunkeld property has been rezoned to Special to allow for a mixed-use commercial development. It should also be valued as if Residential 1 taking into consideration it’s highest and best use.
- You are not required to physically inspect the properties and may rely on GIS and Google maps to identify the property and what is in the immediate vicinity.
- Use the valuation template provided to complete the report.
- All reports must be returned back in excel format.
- SUBMISSION DATE: 05 February 2021.