A property valuation is an independent, professional opinion of the market value of a property for a defined purpose. In Nigeria, valuations should be carried out by an Estate Surveyor and Valuer registered with the Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON) and bound by the standards of the Nigerian Institution of Estate Surveyors and Valuers (NIESV).
Valuations are commonly required for sale and purchase, mortgage and lending, insurance (reinstatement) cover, asset valuation for financial reporting, and compensation or litigation. Each purpose follows a recognised basis of value, and the report sets out the assumptions, the method used, and the date of valuation.
A credible valuation protects buyers, lenders, and investors from paying or lending against the wrong figure. At Lade Olagbenro and Company, valuations are prepared by registered valuers and reported to professional standards. To request a valuation, please contact us.
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