NIESV FEM case studies
NIESV FEM · Put your knowledge to work in context.
The NIESV Fellowship Examination (FEM) is the advanced professional assessment associated with the Nigerian Institution of Estate Surveyors and Valuers, the body that represents estate surveying and valuation practice in Nigeria. Candidates typically already hold professional registration or full membership and are pursuing the Institution's highest professional grade, so the exam is written for practising estate surveyors, valuers, and property advisers who want to demonstrate mastery rather than entry-level competence. The NIESV FEM case studies are 5 cases and about 4,271 words.
1Mortgage Valuation Under Borrower Pressure and Defective Title
A Lagos-based estate surveying firm is instructed by a mortgage bank to value a four-bedroom detached duplex at Ikota, Lekki, for a 20-year mortgage. The borrower, who negotiated the instruction and will pay the fee, tells the principal partner that a neighbouring duplex sold for ₦185 million last month and that any figure below ₦170 million will 'kill the transaction'.
912 words, about 5 min2Family Land Purchase, Government Acquisition and Encroachment
A private client paid ₦28 million in three instalments to the Odu family for a 1,200 sqm parcel at Ikorodu, Lagos, and received a family receipt and a hand-drawn site plan. He has since fenced the land and started a foundation for a warehouse.
838 words, about 4 min3Office Development Appraisal with Optimistic Lease-Up Assumptions
A Lagos-based developer is appraising a 5,000 sqm Grade A office building on a 2,500 sqm site in Abuja Central Business District. The promoter's single-point appraisal shows: land ₦300 million; construction ₦1.5 billion; professional fees 10% of construction; contingency 5% of construction; rent ₦70,000 per sqm per annum; 100% occupancy from year one; operating expenses 25% of gross rent; exit at an 8% capitalisation rate after five years; discount rate 15%.
833 words, about 4 min4Interim Certificate with Oral Variation, Late Handover and Threatened Demobilisation
A state government awarded a contract for a three-storey secretariat building under a standard form of contract with bills of quantities. The contract sum is ₦2.4 billion, duration 18 months, retention 5% up to a cap of 2.5% of the contract sum, and liquidated damages ₦2 million per day.
879 words, about 4 min5Panel Valuation Conflict, Confidentiality Breach and Unregistered Signatory
A firm of estate surveyors and valuers is appointed by a microfinance bank to value 40 residential properties across three states for a mortgage portfolio. The engagement letter, signed by a junior partner, states that the fee will be 0.5% of the total loan amount and that 'the valuation will be prepared to support the bank's lending decision'.
809 words, about 4 min