BUSS 3076 Property Practice- Sound Advice to Valuers

The course, as well as on other occasions within the course, several professional negligence cases will be discussed. These cases will be related in some way to issues such as risk management and valuation uncertainty. For this assessment you are expected to demonstrate research from more than one source for each case.

Within the report you are to examine all three cases of given in this document, none of which were specifically discussed in class, but the general principles of professional conduct were covered in class by looking at the API and other relevant standards appropriate for a property professional to abide by.

You are to prepare a report that addresses these issues. Your report is to be written in the context of the course material, course discussions and readings within the course. Furthermore, you are to draw on your knowledge of how a property professional is expected to act as discussed over the course of your studies. The report is to adopt the following structure, with a heading for each of the cases followed by a series of seven subheadings as shown below:

 

1. Name of the case and a brief overview of the case
2. The key negligence/professional practice issues arising
3. Describe the process the valuer adopted (right or wrong) in each case
4. What were some of the points argued by the prosecution?
5. What was the final judgment and what pertinent comments were made by the courts including reference to other relevant cases? 
6. What course of action should have the valuer adopted?
7. What are the relevant API or IVS documents that would direct the valuer in this regard (must use this two API or IVS)

As a conclusion to your report you are to provide a summary of the findings and discuss how the cases by implication provide sound advice to valuers.