CCMAS Course Search

Statutory valuation. Effect of legislation on property value. Current legislation in Nigeria. Valuation of property assets of a company. Role of value in the property market. Trends in value. Mortgage valuation, insurance valuation, going concern valuation. Principles and methods involved in the valuation of company assets. Companies and partnerships. Valuation of goodwill. Valuation of plant and machinery. Statutory valuations: property income/withholding tax, capital gains tax, capital transfer tax, estate duty/probate, stamp duty, property rating. A review of procedure, legislation issues and administration. Asset valuation: principles involved in establishing the value to a partnership, company, government and government agencies of its fixed assets: chattels, land/buildings, roads and other infrastructural facilities. Valuations for way-leave, easement and royalty. Land residual valuation issues; site analysis and valuation. Valuation for loan facility: mortgage and trading stock valuations. Going concern value, and market value valuations of a business. Applications of statistical and computer techniques in valuation. Definition and basic characteristics of common minerals. The legal, political, economic and physical bases of mineral ownership. Exploitation, processing and marketing of minerals and their impacts on mineral values. Methods of valuation of different minerals for different purposes.

Site analysis and site valuation. Capitalization of income from freehold interests in property including DCF approach. Capitalization of income from leasehold property. Dual rate adjusted for tax. Single rate valuation of leasehold interests in property. Categories of leasehold investment and valuation approaches. Valuation of leasehold investment; variable profit rents. Calculation of premiums. Renewal and extension of lease. Cost-in-the market area analysis. Effect of planning, current economic conditions and legislation on value of property. Developmental valuation. Mineral valuations; capital, budgeting, cash flow. Residual techniques of valuation. Valuation of specialized properties including petrol filling stations, hotels. Contemporary methods of valuation: capital asset pricing model (CAPM), real value approach, natural model, modified national model. Valuation of special properties: filling stations, hotels, recreational properties like stadia, privately owned schools, hospitals, and other property equipped for business to earn profit. Issues in mineral, plant and machinery valuations. Insurance valuations. Contemporary methods of income property valuation: historical background, real value approach, equated yield approach, real value/equated yield hybrid approach, capital asset pricing model (CAPM) approach, Arbitrage valuation model, Hedonic Valuation model. Environmental valuations. Compulsory land acquisition and compensation valuation: The Land Use Act and pre-land use Act legislations, severance and injurious affection, disturbance. Agricultural and cultural artefacts valuations. The Estate Surveyor and Valuer as an expert witness. Identifications and definitions of plant, machinery, equipment and industrial buildings/premises in their categories. Survey, inspection and determination of functional and economic lives and efficiency of plant, machinery and equipment. Theories of depreciation and methods of ascertaining accrued depreciation. Various purposes for which plant machinery, equipment and industrial premises may be valued. Different methods of valuing plants, machinery and equipment

Development and re-development process. Property management in relation to social, political, economic, physical and location aspects. Property management process – strategy of estate owners and choice of alternative to achieve owner’s objectives. Estate-cycle and problems of obsolescence. Principles of estate management applicable to management of public and private estate, new towns, expanding towns, local authority redevelopment area. Implications for estate management of legislation pertinent to relationship between the landlord and tenant. Marketing and agency: legal positions of principal and agent; methods of sale promotion, selling market segmentation; market research, market planning, total project management. Parties involved in property development. Data and information for property development. Sources of finance and funding arrangements for development. Feasibility Studies – residential/commercial properties. Effect of government policy in development process with emphasis on land policy implications. Management of institutional housing and commercial estates: principles, procedures, and problems. Rule of thumb in real estate practice. Common scheduling tools, including critical path method and bar charts as an aid in project planning, budgeting, and cost control. Also introduces the gathering, processing, and evaluation of project information for effective project control.

Combined freehold and leasehold valuations. Equivalent yield valuations. Valuations for surrender/extension and renewal of leases. Marriage value valuations. Double sinking fund valuations. Valuations involving expenditures and their justification, and liabilities. Clearly distinguishing between the following terms/concepts: basis of valuation, purpose of valuation, use/function of valuation and method of valuation

Nature of arbitration; its origin and application to valuation. Act reference to arbitration by consent. Types of arbitration. Statutory and conventional advantages of arbitration. Arbitration and umpires. Principal rules of arbitrators. Reference by order of court; neutral and tripartite panel. Procedure for arbitration award. Expert evidence and proof of evidence. Arbitration of real estate and related disputes in construction industry. Particular skills required of a professional. Costing by arbitrators in the construction industry. Real estate documents and arbitration clauses. Resolution of disputes by arbitration in the allied professions in the construction industry. Distinction between valuation, arbitration and action methods of enforcing, impeaching and award. Arbitration agreement, composition of arbitral tribunal, jurisdiction of arbitral tribunal, award and termination of proceedings, recourse against award, recognition and enforcement of awards; difference between arbitration and conciliation.

Introduction to graphics description and use of drawing equipment, basic drafting techniques, line drawing, scale and proportions, lettering convention, representation on drawing basic descriptive geometry, surface development, inclined cuts and true sections. Effect of light on shape and form, shadow protection rendering techniques. Simple projections, various types of tracing and drawing papers. Standard sizes, right and wrong tiles. Design process with example of a small house project, importance of various spaces, linking of various spaces. Development of elevations. Difference between presentation drawings and working drawings. Introduction to Draughtsman ship. Site: relation of site with design solution, site selection factors for various types of topographic construction of different scales and their uses in practice.

General introduction to various aspects of surveying, use of simple survey equipment; principles and practice of chain surveying, compass traversing. Introduction to survey draughtsmanship.

General introduction to the various facts of land surveying, determination of vertical distance errors, and corrections in levelling cross-sections and profiles: contouring, enlargement and reduction of maps, years. Introduction to Geographic land information systems, use of basic GPS devices.

Introduction to building construction: site selection, site investigations and preparation. Site layouts, setting out, excavation, sub-soil investigations. Element and components of building foundations, floors and walls. Introduction to building materials, properties, characteristics, and application of the following materials: stone, cement, sand, block - bricks, timber, metal, concrete. Study of elements and components of building doors, windows, staircases, ceilings and roofs with special reference to tropical humid and dry environments. Factor governing building costs: study of timber, homogeny steel, stones, asbestos and other building materials and their indoors, windows, staircases, ceiling and roof elements of building.

The fundamentals facilities management and the maintenance of buildings as a complex unit including the interests, structure and facilities. Identification of agencies causing decay and change of appearance of buildings, identification of causes of defects in building structures, finishes and services. Alterations, conversions, extensions and improvements of building, including the necessary temporary supports. Designs defects, foundation floor walls, ceilings roofs among others. Access to components to be maintained, mechanical services and their maintenance equipment for building maintenance. Building maintenance management, choice between contract and direct labour in the implementation of building maintenance works. Sustainable building use, computerized property maintenance systems, defects reporting, electronic job orders.