Abstract
Estate valuation is the art, practice and science for the determination of the value of the entire property description and the interest therein. Estate valuers quest for a better method that will bring effectiveness, accuracy and efficiency in their practice. The need to optimize valuation process and method has become a timely contemporary demand. The research was designed to develop architectural model for estate valuation. The study was poised to; identify the traditional method of estate valuation, design a template for estate valuation, implement the estate valuation template, test and deploy the estate valuation template. The study adopted the waterfall model. It breaks down the project activity into linear sequential phases where each phase depended on the deliverable of the existing one and the next one to a specialization of events. The study achieved its aim; architectural model for estate valuation system (AMVS). The AMVS was implemented on the PHP programming platform with MYSQL as database. The system was tested and deployed. The system validity and originality was measured by comparing its outputs with the direct results of a professional valuer over the same estate property and disparity in results was negliablly minimal. The system is recommended for use by users with basic knowledge of computer operation and doing so with recommended data categories as indicated in the documentation as related to the estate valuation practice, alongside the use of recommended standard hardware and software specifications should be closely adhered to.
Highlights
The origin of estate valuation and surveying started from the time of creation
Each valuation technique has its own unique strength and weakness based on the current economic climates
There is a better way of attaining accuracy in the services of the estate management
Summary
At creation God created Garden of Eden and put Adam and Eve to take control of it. Adam and Eve can be referred as the first estate valuers and surveyors whose estate was the Garden of Eden. From estate managers’ point of view, land is the surface on which the activities of humans take place, and beneath the surface into the earth interior including its mineral resources therein. Estate valuers and surveyors are recognized professions and is distinctly rooted in feudal environment of Europe. To accommodate what is needed for effective accounting, book keeping was needed a necessary tool. This brought about the ever increasing challenges of record keeping, book keeping, statistical data analysis and accounting
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