Property Evaluation Form

Property Evaluation Form Template for Philippines

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Key Requirements PROMPT example:

"I need a Property Evaluation Form for a 5-story commercial building in Makati City's central business district, to be used for bank financing purposes by March 2025, with particular emphasis on income potential and current market conditions."

Document background

The Property Evaluation Form is a crucial document in Philippine real estate practice, designed to meet the requirements of the Real Estate Service Act (RESA) and related property laws. It is primarily used when a professional assessment of property value and conditions is needed for transactions, financing, taxation, or corporate purposes. The form includes detailed analysis of property characteristics, market conditions, and valuation methodologies, providing a comprehensive basis for property-related decisions. Used by licensed real estate appraisers and other property professionals, it ensures standardized property evaluation practices across the Philippine real estate sector, incorporating local market factors, zoning regulations, and building codes. The document serves as a vital tool for banks, insurance companies, government agencies, and private entities requiring official property valuations.

Suggested Sections

1. Property Identification: Basic details including property address, lot number, tax declaration number, and registered owner information

2. Property Description: Detailed physical description including lot size, building specifications, boundaries, and improvements

3. Location Analysis: Assessment of the property's location, neighborhood characteristics, accessibility, and proximity to key establishments

4. Physical Assessment: Evaluation of structural conditions, building materials, maintenance state, and visible defects

5. Market Analysis: Current market conditions, comparable properties, and recent sales in the area

6. Highest and Best Use Analysis: Assessment of the most profitable legally permissible use of the property

7. Valuation Methodology: Description of approaches used (market, cost, income) and justification

8. Value Conclusion: Final value estimate with supporting calculations and reconciliation of approaches

9. Certification: Appraiser's certification of independence and compliance with professional standards

Optional Sections

1. Environmental Assessment: Used when environmental factors significantly impact value or when required by regulations

2. Historical Significance: Required for properties with potential heritage value or located in historical districts

3. Income Analysis: Included for income-producing properties such as commercial buildings or rental properties

4. Zoning and Land Use: Detailed analysis when zoning restrictions or potential changes significantly impact value

5. Development Potential: Analysis of future development possibilities for vacant land or properties with redevelopment potential

6. Special Risk Factors: Assessment of specific risks such as flooding, geological issues, or legal constraints

Suggested Schedules

1. Appendix A - Property Photographs: Comprehensive photo documentation of the property, including exterior, interior, and specific features

2. Appendix B - Location Maps: Maps showing property location, vicinity, and relevant geographical features

3. Appendix C - Property Documents: Copies of relevant legal documents, titles, tax declarations, and permits

4. Appendix D - Comparable Properties: Detailed data on comparable properties used in the market approach

5. Schedule 1 - Area Calculations: Detailed measurements and calculations of lot area and building areas

6. Schedule 2 - Valuation Calculations: Detailed calculations used in the various valuation approaches

7. Schedule 3 - Market Data: Supporting market data, including sales records and rental rates

8. Schedule 4 - Building Specifications: Detailed technical specifications of structures and improvements

Authors

Alex Denne

Head of Growth (Open Source Law) @ ��Ƶ | 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 and Finance

Insurance

Construction

Property Development

Government and Public Sector

Legal Services

Asset Management

Investment and Securities

Urban Planning

Relevant Teams

Real Estate Operations

Property Management

Valuations

Risk Assessment

Legal

Credit Analysis

Asset Management

Facilities Management

Investment Analysis

Compliance

Property Development

Underwriting

Relevant Roles

Real Estate Appraiser

Property Assessor

Mortgage Officer

Real Estate Broker

Property Manager

Asset Valuation Specialist

Real Estate Analyst

Risk Assessment Officer

Insurance Underwriter

Real Estate Investment Manager

Property Development Manager

Facilities Manager

Real Estate Attorney

Bank Credit Officer

Tax Assessor

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Authors

Alex Denne

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