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Property Evaluation Form

Property Evaluation Form for Malta

Property Evaluation Form Template for Malta

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Property Evaluation Form

"I need a Property Evaluation Form for a Grade II listed commercial building in Valletta, Malta, to be used for insurance purposes, with particular emphasis on heritage features and restoration costs."

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What is a Property Evaluation Form?

The Property Evaluation Form is a essential document used in the Maltese real estate market for conducting professional property valuations. It serves as a standardized template for property valuers to document their assessments in compliance with both Maltese legislation and international valuation standards. The form is designed to capture all crucial aspects of property evaluation, including physical characteristics, market conditions, legal considerations, and value determination. It is particularly relevant for various transactions including property sales, mortgage applications, insurance purposes, and development planning. The document's structure ensures consistency in property valuations across Malta while meeting the requirements of the Malta Property Valuers Act and other relevant local regulations.

What sections should be included in a Property Evaluation Form?

1. Property Identification: Basic details including property address, reference number, and unique identifiers

2. Client Information: Details of the person or entity requesting the evaluation

3. Purpose of Valuation: Stated purpose of the evaluation (e.g., sale, purchase, lending, insurance)

4. Inspection Details: Date and time of inspection, weather conditions, and access limitations

5. Property Description: Detailed description of the property including size, layout, construction, and condition

6. Location Analysis: Assessment of the property's location, neighborhood characteristics, and accessibility

7. Planning and Zoning: Current zoning classification and relevant planning permissions or restrictions

8. Market Analysis: Overview of current market conditions and comparable properties

9. Valuation Methodology: Description of the approach(es) used for the valuation

10. Value Assessment: Final value determination with supporting calculations

11. Assumptions and Limitations: List of any assumptions made and limitations of the valuation

12. Certification: Valuer's certification and professional credentials

What sections are optional to include in a Property Evaluation Form?

1. Environmental Considerations: Required when environmental factors significantly impact value or when specifically requested

2. Heritage Status: Include when property has historical significance or protected status

3. Rental Analysis: Add for investment properties or when rental potential is relevant

4. Development Potential: Include when there is significant development or renovation potential

5. Building Services Assessment: Detailed analysis of building systems for commercial properties

6. Legal Issues: Include when there are known legal matters affecting the property

7. Insurance Considerations: Required when valuation is for insurance purposes

What schedules should be included in a Property Evaluation Form?

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 - Floor Plans: Detailed floor plans and measurements

4. Appendix D - Title Documents: Copies of relevant title documents and searches

5. Appendix E - Planning Documents: Copies of planning permissions and restrictions

6. Appendix F - Comparable Evidence: Detailed analysis of comparable properties used in valuation

7. Appendix G - Calculation Sheets: Detailed valuation calculations and methodologies

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

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alex.den.21@genieai.co
Relevant legal definitions
Property
Subject Property
Market Value
Valuation Date
Effective Date
Gross Floor Area
Net Floor Area
Capital Value
Rental Value
Comparable Evidence
Planning Scheme
Development Permission
Valuer
Client
Instructing Party
Special Assumptions
Material Factors
Tenure
Freehold
Temporary Emphyteusis
Perpetual Emphyteusis
Common Parts
Easements
Encumbrances
Building Permit
MEPA Permit
Zoning Classification
Heritage Protection
Urban Conservation Area
Market Conditions
Highest and Best Use
Development Potential
Building Services
Condition Rating
Environmental Factors
Material Considerations
Professional Indemnity Insurance
Valuation Approach
Inspection Date
Report Date
Clauses
Identification and Authority
Scope of Work
Purpose of Valuation
Basis of Valuation
Property Description
Location Analysis
Title and Ownership
Planning and Zoning
Environmental Considerations
Building Specifications
Valuation Methodology
Market Analysis
Value Assessment
Limitations and Restrictions
Assumptions
Disclaimers
Professional Indemnity
Confidentiality
Data Protection
Intellectual Property
Professional Standards Compliance
Conflict of Interest
Liability
Terms of Engagement
Fee Structure
Documentation Requirements
Property Access
Insurance
Dispute Resolution
Applicable Law
Relevant Industries

Real Estate

Banking & Finance

Insurance

Construction & Development

Legal Services

Property Management

Public Sector

Hospitality & Tourism

Retail

Relevant Teams

Real Estate Operations

Valuations

Mortgage Services

Risk Assessment

Legal Affairs

Property Management

Business Development

Compliance

Asset Management

Investment Analysis

Relevant Roles

Property Valuer

Real Estate Appraiser

Mortgage Officer

Insurance Underwriter

Real Estate Agent

Property Developer

Bank Manager

Legal Counsel

Property Manager

Investment Advisor

Development Planning Officer

Risk Assessment Officer

Asset Manager

Industries
Civil Code Chapter 16 of the Laws of Malta: Fundamental law governing property rights, ownership, and transfer of immovable property in Malta. Essential for understanding the legal basis of property ownership and valuation.
Malta Property Valuers Act (Chapter 487): Regulates the profession of property valuers and establishes standards for property valuation in Malta. Provides framework for professional conduct and methodology in property evaluation.
Planning Authority Act (Chapter 552): Governs planning and development aspects that affect property value, including zoning regulations and development permissions.
Building Regulation Act (Chapter 513): Sets standards for building construction and safety, which are crucial factors in property evaluation and value assessment.
Environment Protection Act (Chapter 549): Relevant for assessing environmental factors that may affect property value, including protected areas and environmental restrictions.
Consumer Affairs Act (Chapter 378): Provides consumer protection framework relevant to property valuation services and reports.
Duty on Documents and Transfers Act (Chapter 364): Important for understanding tax implications and duty calculations based on property valuations.
Royal Institution of Chartered Surveyors (RICS) Standards: While not legislation, these international standards are widely adopted in Malta for property valuation methodology and reporting.
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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