Description

Estate surveying and valuation in Nigeria dates back to the beginning of creation. At creation the first estate was established by God in the Garden of Eden, Adam and Eve were put in charged of it. Thus, Adam and Eve were the first estate surveyors and valuers known to man.

However, the evolution of estates surveying and valuation as a distinct and recognised profession brought about the ever increasing challenge of record keeping, booking, accounting and statistical data analyzes.

Thus, to this end, we are concerned in developing a computerized based system that will be used in the estate valuation practice to eliminate the challenges posed by the present manual method used in the esteem profession.

Statement of Problem

As economic of the world globalize and capital becomes more mobile, valuation gains momentum in privatisation, joint ventures, mergers and acquisition, restructuring to create values. The purpose is to computerize the estate valuation methods, access the risk face by professionals in the valuation field, estimating the market price subject to series of assumption, with whatsoever the future occurrence will be, to alleviates the poor practices and explore the good ones.

In the cause of this project the researcher is not only concerned with anticipating what the future occurrence and attempting the desirable ones more likely and the undesirable ones less likely.

Objective of the study

The main aim of this study is to introduce to the estate valuers and other relevant organisation saddled with valuating of properties, how valuation technique used affects property value and seeks to established a computerise approach for Nigerians in the  estate management fields including other relevant authorities.

However, the computerise valuation modelling system would bring about efficiency, reliability and effectiveness in the valuation system which will replace the manual method presently used. This proposed system would help eliminates the problems associated with the manual method used in the establishment. This will also provide remedies, recommendation and practical guides on how to make the process an effective tool to determine the functionality of properties. 

This study seeks to determine how properties are valued, determine the valuation techniques used in property valuation in Nigeria and ascertain the risk involved in the valuation process and the level of awareness of clients regarding approaches used in valuing their properties.

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