Modern Methods of Valuation 11th Edition by Eric Shapiro, David Mackmin, Gary Sams ISBN 0080971164 9780080971162

Modern Methods of Valuation 11th Edition by Eric Shapiro, David Mackmin, Gary Sams – Ebook PDF Instant Download/Delivery:0080971164, 9780080971162
Full download Modern Methods of Valuation 11th Edition after payment

Product details: 

ISBN 10: 0080971164

ISBN 13: 9780080971162

Author: Eric Shapiro, David Mackmin, Gary Sams

Table of contents: 

Chapter 1 Principles of valuation
1. The valuer’s role
2. The property market
3. A definition of value
4. Value and valuation
5. Demand, supply and price
6. Demand for and supply of landed property
7. Landed property as an investment
Chapter 2 Methods of valuation (valuation approaches)
1. Introduction
2. Comparison
3. Principal methods of valuation
(a) The market approach or comparative method
(b) The income approach or investment method
(c) The residual approach or development method
(d) The profits approach
(e) The cost approach or contractor’s method
(f) Conclusion
Chapter 3 Property in land
1. Land law
2. Property rights in general
3. Freeholds
(a) Registered and unregistered land
(b) Adverse possession
4. Leaseholds
(a) Building leases
b) Occupation leases
(c) Leases for life
5. Licences
6. Common law, equity and trusts
7. Equitable interests including options
8. Co-ownership
9. Easements and related rights
10. Restrictive covenants
11. Commonhold
12. Successive interests in property
13. Transfers of interests in land and security in land
Chapter 4 The market approach or comparative method
1. Introduction
(a) Location
(b) Physical state
(c) Tenure
(d) Purpose
(e) Time
2. Residential property
3. Development land
Chapter 5 Market rent
1. Introduction
2. Rent and net income
3. Economic factors affecting rent
(a) Supply and demand
(b) Demand factors
(c) Supply factors
4. Estimation of market rent
(a) Generally
(b) Basis of the rent actually paid
(c) Comparison of rents
(d) Rent and lease terms
5. Effect of capital improvements on market rent
6. Hierarchy of market evidence
Chapter 6 Outgoings
1. Introduction
2. Repairs
(a) Generally
(b) Immediate repairs
(c) Annual repairs
(d) Conditions of tenancy
(e) Future repairs
3. Sinking funds
4. Business rates, water services and council taxes
5. Income tax
6. Insurances
(a) Fire insurance
(b) Other insurances
7. Voids
8. Service charges
9. Management
10. Value added tax
11. Outgoings and rent
12. Current issues
Chapter 7 Yield
1. Introduction
(a) Nominal and actual or effective rates of interest
(b) Timing of payments and yields
2. Principles governing yields from investments
3. Yields from landed property investments
(a) Shops
(b) Offices
(c) Factories and warehouses
(d) Residential properties
(e) Ground rents
4. Changes in interest rates
Chapter 8 Investment mathematics as it applies to property valuation
1. Introduction
2. Amount of £1 (A£1)
3. Present value of £1 (PV£1)
4. Amount of £1 per annum (A£1pa)
5. Annual sinking fund (ASF)
6. PV of £1 per annum (PV£1pa) or Years’ Purchase (YP)
Chapter 9 Income approach or investment method
1. Valuation of freehold interests
(a) Freehold let at MR
(b) Freehold let at below MR
(c) Freehold let at more than MR
2. Valuation of leasehold interests
(a) Provision for loss of capital
(b) YP dual rate
(c) Capital replacement and inflation
(d) The position of the owner/occupier
(e) Annual sinking fund and tax
(f) Dual rate adjusted for income tax
(g) Leasehold interest where income is less than MR
3. Synergistic value, sometimes known as marriage value
4. Freehold interest where a building has a terminable life
5. Premiums
6. Surrenders and renewals of leases
7. Traditional valuation techniques and DCF
Chapter 10 Discounted cash flow
1. Generally
2. Net present value
(a) The discount rate
(b) Rate of growth
(c) Cash flow period (see guidance note)
3. Internal rate of return (IRR)
4. Comparison of NPV with IRR approaches
5. Application of DCF and investment value (worth)
Chapter 11 Residual approach or development method of valuation
1. Introduction
2. Proceeds of sale
3. Costs of sale
4. Costs of development
(a) Cost of building
(b) Miscellaneous items
(c) Costs of finance
5. Development profits
6. Surplus for land
Chapter 12 Developments in valuation approaches
1. Introduction
2. Relationship of rent in arrears and in advance
3. Taxation of incomes
4. Valuation of freehold interests
(a) Nature and function of yields
(b) Equated yields
(c) Effects of inflation
(d) Valuation of varying incomes
5. Leasehold interests
(a) Replacement of capital
(b) Replacement of capital in real terms
(c) ASF at low rates of return
(d) Why use dual rate YP?
(e) Valuation of variable incomes
f) The effect of tax
(g) The double sinking fund method
(h) Summary
6. Valuing in periods of market instability – valuation certainity
7. Valuing sustainability
8. Conclusion
9. Further reading
Chapter 13 Some practical points
1. The valuation process
2. The analysis of rents and prices
3. Special purchasers or buyers
4. RICS valuation – professional standards, global and UK
5. The cost of building works
(a) Bills of quantities
(b) Unit comparisons
(c) Other methods of comparison
(d) Alterations and repairs
6. Claims for damages
(a) Dilapidations
(b) Other claims
7. Management of investments
(a) Maintenance of capital values
(b) Rents
(c) Outgoings
(d) Reserves
Chapter 14 Principles of the law of Town and Country Planning
1. The Town and Country Planning Acts
(a) The 1947 Act
2. The planning system
(a) Planning authorities
(b) The development plan system
(c) Effect of the development plan
3. Development control
(a) The use classes order 1987
(b) Part 3, general permitted development order (GPDO) – changes of use
4. Planning permissions
(a) Development orders and local development orders
(b) Local development orders
(c) Simplified planning zones and enterprise zones
(d) Public authority development
5. Applications for planning permission
(a) Outline planning permission
(b) Applicants and applications
(c) Environmental Impact Assessment
(d) Nationally significant infrastructure projects
(e) Planning fees
(f) Determining planning applications
(g) “Calling in” procedure
(h) Revocation, modification and discontinuance orders
6. Effect of planning permission
7. Duration of planning permission
8. Planning conditions and planning obligations
9. The Community Infrastructure Levy (CIL)
10. Appeals – section 78
(a) Appeals and overlapping and repeated applications
11. Judicial control of planning decisions
12. Enforcement of planning control
(a) Enforcement notices
(b) Planning contravention notices
(c) Stop notices
(d) Breach of condition notices
(e) Injunctions
(f) Appeals against enforcement notices
(g) Non-compliance with an enforcement notice
13. Amenity and safety
(a) Protection of trees and special buildings
(b) Regulation of advertisement displays and caravan sites
(c) Unsightly land and hazardous substances
Chapter 15 Development properties
1. Introduction
2. Valuation approach
3. Types of development
4. Viability statements (studies)
5. Factors affecting value
6. Residential development schemes
(a) Generally
(b) User of land
(c) Infrastructure
d) Environmental and other factors
7. Commercial development schemes
8. Period of development
9. Incidental costs
10. Site assembly
11. Hope value
12. Urban sites
(a) New development
(b) Refurbishment
13. Ground rents
(a) Residential ground leases
(b) Commercial ground leases
(c) Ground rent
d) Market value of ground rents
Chapter 16 Residential properties
1. Generally
2. The Rent Acts
(a) Rents under regulated tenancies (1977 Act, Part III)
(b) Security of tenure (1977 Act, Part VII)
3. The Housing Act 1988 – assured and assured shorthold tenancies
4. Schedule 10 to the Local Government Act 1989, the Leasehold Reform Act 1967 and the Leasehold Ref
(a) Enfranchisement by way of purchase of the freehold
(b) Valuations to determine enfranchisement price – “original method” (i.e. lower value proper
(c) Market transactions
(d) Valuations under the Housing Act 1974 and the Leasehold Reform, Housing and Urban Development Ac
(e) Valuations to determine enfranchisement price –“higher value method”
(f) Extension of the existing lease (lower value houses)
(g) Landlord’s overriding rights
(h) Retention of management powers
(i) The LRHUD Act 1993 as amended by the Commonhold and Leasehold Reform Act 2002
5. Smaller residential properties, HMOs and tenements
(a) General method of valuation
(b) Outgoings
(c) State of repair
(d) Clearance areas
(e) Duration of income
6. Larger residential properties
(a) Generally
(b) Factors affecting value
(c) Methods of valuation
(d) Sales records
7. Blocks of flats held as investments
(a) Generally
(b) Gross income
(c) Outgoings
(d) Net income and yield
8. Places of worship
Chapter 17 Commercial properties (1): Landlord and Tenant Acts and rent reviews
1. Introduction
2. Landlord and Tenant Act 1927
(a) Landlord and Tenant Act 1927 (Part I)
(b) Landlord and Tenant Act, 1927 (Part II)
3. Landlord and Tenant Act 1954 (Part II) (as amended by the Regulatory Reform Order 2003)
4. Health and safety at work, etc. Act 1974
5. Rent reviews
(a) Machinery for review
(b) Rent payable
6. Valuation consequences
(a) Restricted user
(b) Period between reviews
(c) Analysis of incentives
(d) Comparable evidence
(e) Machinery for settling disputes
7. Market value
8. Court procedure for the grant of a new tenancy or the termination of a current tenancy
Chapter 18 Commercial properties (2): types of property
1. Introduction
2. Retail premises
(a) Location
(b) Type of premises
(c) Type of tenant
(d) Terms of the lease
(e) Market rent
(f) Market value
3. Industrial premises
(a) Introduction
(b) Construction
(c) Market rent and market value
4. “High-tech” industrials
5. Business and science parks
6. Warehouses
7. Office properties
(a) Introduction
(b) Market rent
(c) Terms of tenancy
(d) Outgoings
(e) Net income and market value
Chapter 19 UK valuation standards: valuation for financial statements;replacement cost (contractor
1. Introduction to the RICS valuation standards
2. Valuations for financial statements
3. Depreciated replacement cost (DRC)
(a) Cost-based valuation methods generally
(b) The DRC method of valuation for financial reporting
(c) Types of property involved
(d) The DRC method
(e) Straight line depreciation (SLD, GN 6.9.23)
(f) Reducing balance (GN 6.9.25)
(g) S-curve approach (GN 6.9.26)
(h) Conclusion
4. Mortgages and loans
(a) Borrowing against property assets
(b) Nature of a mortgage
(c) The mortgagee’s security
(d) The valuation
(e) Second or subsequent mortgages
(f) Secured lending for commercial property
5. Fire and terrorism insurance: reinstatement cost
(a) Generally
(b) Cost of reinstatement
(c) Effect of under insurance
(d) Public authority requirements
(e) Cost and value
(f) Incidental costs
(g) Value added tax on building costs
6. Further reading
Chapter 20 Valuations for rating
Introduction
Section A: Non-domestic properties
1. General
2. Procedure
3. Exemptions and reliefs
4. Elements of rateable occupation
(a) Actual occupation
(b) Exclusive occupation
(c) Beneficial occupation
(d) Transience of occupation
5. Principles of assessment
6. Statutory basis of assessment
7. Rating of unoccupied properties
8. Methods of assessment
(a) Valuation by reference to rents paid
(b) The contractor’s method or test
(c) The receipts and expenditure or profits basis
9. Assessment of various types of property
(a) Agricultural properties
(b) Offices
(c) Shops
(d) Factories and warehouses
(e) Cinemas and theatres
(f) Licensed premises
(g) Caravan sites
(h) Garages and service stations
(i) Minerals
Section B: Domestic properties
1. General
2. Procedures
3. Basis of assessment
4. Compilation and maintenance of new lists
Chapter 21 Taxation: capital gains tax
1. Taxation of capital gains – capital assets and stock in trade
2. Taxation of chargeable gains act (TCGA) 1992
(a) Occasions of charge
(b) Computation of gains
(c) Disposals after 5 April 1988
(d) Disposals before 6 April 1998
(e) Disposals after 6 April 1998
(f) Rates of tax from 23 June 2010 for individuals
(g) Exemptions and reliefs
(h) Losses
(i) Part disposals
(j) The market value rule on certain disposals
(k) Sale of leasehold interests
(l) Premiums for leases granted out of freeholds or long leases
(m) Premiums for subleases granted out of short leases
Inheritance tax
1. General
2. Taxable transfers
3. Basis of assessment
4. Rates of tax
5. Exemptions and reliefs
(a) General
(b) Potentially exempt transfers
(c) Business assets
(d) Agricultural property
(e) Woodlands
6. Valuation
Income tax on property
1. Schedule A
2. Capital allowances
Value added tax
1. VAT and property
2. VAT – the general scheme
(a) Added value
(b) Taxable supplies
(c) Non-taxable supplies
3. VAT and the property market
(a) Residential property
(b) Non-residential property
4. Option to tax
5. Transfer of a going concern
6. Value and VAT
7. Valuation and VAT
8. Special cases
(a) Incentives
(b) Statutory and other compensation
(c) Mixed supplies
Stamp duty land tax
1. Purchases
2. Leases
Reference
Chapter 22 Principles of the law of compulsory purchase and compensation
1. Legal basis of compulsory purchase
2. Compulsory purchase procedure
3. Compulsory purchase compensation
Chapter 23 Compulsory purchase compensation I: compensation for land taken
1. Introduction
2. General principles of compensation
3. Market value
(a) Six basic rules of valuation
4. Additional rules of assessment
5. Development value
(a) Assumptions as to planning permission
6. Certificates of appropriate alternative development
7. Special compensation rules in particular cases
(a) Reinvestment by investors
(b) Special provisions in Private Acts
8. Summary of general basis of compensation
9. Arbitration of compensation disputes
10. Valuation
11. Home loss, basic loss and occupiers’ loss payments
12. Basic loss and occupier’s loss payments
13. Interest on compensation
Chapter 24 Compulsory purchase compensation II: compensation for severance and injurious affection
1. General principles
2. Compensation where part only of the land is taken
(a) Accommodation works
(b) Apportionment of rent (Compulsory Purchase Act 1965, section 19)
3. Setting out a claim
(a) Land taken
(b) Severance and injurious affection
(c) Other incidental injury (disturbance)
(d) Assessment of compensation
4. Compensation where no part of the land is taken
(a) Injurious affection under section 10
(b) Compensation for harm from “physical factors”
5. “Before and after” method of valuation
Chapter 25 Compulsory purchase compensation III: compensation for distribance
1. Disturbance compensation and disturbance payments
2. Judicial approach to quantification of disturbance compensation
3. Disturbance compensation: items which are typically claimed
(a) Residential premises
(b) Business and professional premises
4. Disturbance in relation to development value
Chapter 26 Blight notices
1. Compulsory purchase instigated by land owners: blight notices
(b) Qualifying interests
(a) Blighted land
2. Blight notice procedure
Chapter 27 Purchase notices
1. Compulsory purchase instigated by landowners
2. Purchase notices
(a) Compensation as in compulsory purchase cases
(b) Revocation, modification and discontinuance orders and other special cases
Chapter 28 Compensation under the Town and Country Planning Acts: revocation, modification and disco
1. Revocation, modification and discontinuance cases
2. Revocation and modification orders
3. Discontinuance orders
4. Other cases of planning compensation
5. Listed buildings and ancient monuments

People also search for:

most popular valuation methods

modern methods of appraisal

modern methods of business valuation

modern methods of valuation of land houses and buildings

modern methods of valuation book

Tags:

Eric Shapiro,David Mackmin,Gary Sams,Modern