Module title: Valuation 2

SCQF level: 09:
SCQF credit value: 20.00
ECTS credit value: 10

Module code: BSV09116
Module leader: Alison Andrews
School School of Engineering and the Built Environment
Subject area group: Building and Surveying
Prerequisites


2018/9, Trimester 2, Face-to-Face, Edinburgh Napier University
Occurrence: 001
Primary mode of delivery: Face-to-Face
Location of delivery: MERCHISTON
Partner: Edinburgh Napier University
Member of staff responsible for delivering module: Alison Andrews
Module Organiser:


Learning, Teaching and Assessment (LTA) Approach:
Students will be encouraged to develop a critical understanding of specialist property valuation techniques and a technical knowledge of their application. Alongside specialist properties, there are applied valuation techniques which are explored through the mechanism of the valuation of leasehold properties in particular. The student should also have knowledge of the differing principles underlying statutory valuations in relation to compulsory purchase and compensation and to rating (commercial properties). The students will also examine further the regulatory requirements of the RICS and the different bases of valuation. The tutorials will be used to expand upon the lecture material and to undertake valuations using the appropriate methods.

Embedding of employability/ PDP/ scholarship skills
The module shall assess the standards of communication, creativity and problem solving skills needed to answer such questions posed by specialist and statutory valuations and required by the students to demonstrate such competency.

Research/ teaching linkages
Close links are maintained with the Royal Institution of Chartered Surveyors and industry. This includes reference to research papers and guest lecturing from practitioners.

Formative Assessment:
The provision of formative feedback is a key component of the LTA approach underpinning this module. Formative feedback opportunities are built into each practical session where you will be encouraged to engage with and reflect upon module themes via a series of different learning tasks. These provide opportunities for the module tutor to help with your understanding and interpretation of module topics. This formative feedback is delivered in class time in response to student contributions both individually and collectively. Formative feedback arises via the discussion and analysis of tutorial questions, practical examples/cases and associated reflection on a range of learning tasks. The assessment is supported in the tutorial classes.

Summative Assessment:
The coursework assessment is designed to evaluate the student's knowledge and understanding of the application of these specialist, statutory and applied valuation techniques and report writing skills. (LOs 1-3)
The timetabled exam will assess all learning outcomes (LOs 1-6)

Student Activity (Notional Equivalent Study Hours (NESH))
Mode of activityLearning & Teaching ActivityNESH (Study Hours)
Face To Face Lecture 22
Face To Face Tutorial 22
Independent Learning Guided independent study 156
Total Study Hours200
Expected Total Study Hours for Module200


Assessment
Type of Assessment Weighting % LOs covered Week due Length in Hours/Words
Report 30 1,2,3 10 HOURS= 0, WORDS= 1500
Centrally Time Tabled Examination 70 1-6 14/15 HOURS= 3, WORDS= 0
Component 1 subtotal: 30
Component 2 subtotal: 70
Module subtotal: 100

Description of module content:

1) Specialist and Applied Valuations: Leaseholds, Marriage Value, Surrenders and Renewals, Premiums, and the Valuation of Specialist Properties.
2) The law relating to rating; undertake valuations (standard and specialised property using the comparative, contractor’s and revenue methods of valuation) and the appeal system.
3) Evaluate the basic principles of compulsory purchase and the application of techniques to the valuation of property acquired under statutory powers.
4) The differing bases of valuation and the regulatory framework for valuations

Learning Outcomes for module:

On completion of this module you will be able to:
LO1: appreciate and identify circumstances rendering a valuation a ‘statutory’ or ‘specialist’ valuation’;
LO2: determine and use relevant valuation methods to be used in specialist and statutory valuations;
LO3: apply specialist and statutory valuation methods in practical situations;
LO4: demonstrate knowledge of the legal principles underlying the rating of commercial property;
LO5: demonstrate knowledge of the legal principles underlying the compulsory purchase of property, and of the compensation provisions for land taken and land not taken;
LO6: demonstrate knowledge of the different bases of valuation and the ‘Red Book’ requirements for valuations.

Indicative References and Reading List - URL:
Valuation 2