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.
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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
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
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
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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