valuation of landed properties and asset for various purposes
Estate Surveyors and Valuers are the only professionals in Nigeria authorized by law and training to place value on any property. Our firm carries out valuation for all types of landed properties tangible and intangible asset for various purposes such as:
valuation for sale / purchase
Opinion of Value for the purpose of sale or purchase will be the market or fair value (monetary worth) in which the subject property / asset could be justifiably change hand at the date of valuation. Public and private properties usually require professional opinion of value as pre-condition for sale or purchase in order to be properly guided on the reserved price.
valuation for mortgage
The importance of providing a valuation for a mortgagee or mortgagor cannot be over emphasized. The mortgagee's money is usually secured on a specified asset of the mortgagor. Herein lies the crux of the matter, should the mortgagor default on the repayment of the loan, would the mortgaged asset, on forced sale meet the outstanding loan? Our role would be to protect the mortgagee and the mortgaged assets.
valuation for accounting purpose
The accounting procedure places a historic cost on property (building, plant & machinery, floating assets etc) in the company's books of accounts with a subjective life span in mind. The method proceeds to depreciate the historic cost yearly. This approach disregards the effects of inflation and the replacement cost (value) of properties that are comparable to the one being depreciated. But value is not cost. The value of a property (fixed or floating) at a particular time and place is what a 'reasonable man' will pay for such property. This might be lower or higher than the original cost of such property.
valuation for insurance purpose
Properties are insured against risks i.e damages by fire, flood, theft etc. The insured value is the current price as at time the insurance contract was entered into. Prices on the other hand keep on changing. This calls for a revaluation of the insured property to determine both the "Market Value" and the "Replacement Value". The replacement value arrived at will then form the basis for renewal.
valuation for balance sheet / annual accounts
Valuation provides realistic figures for the preparation of the Annual Accounts and Balance Sheets for companies. It will also assist Directors in preparing Annual Reports for the shareholders.
valuation for plant and machinery
Valuation of plant and Machinery is a specialized subject and in view of this we have an expert with varied experience in this area. The method of valuation takes into account the useful economic life of the machines, availability of spare parts, repairs and maintenance carried out, layout of the plant, and availability of experienced technicians, coupled with this, we also take into consideration the present cost for purchasing similar plant and machinery. Custom duties, transportation, installation, commissioning cost of the plant and machinery etc. are also taken into consideration.
Valuation Rating
Property tax is a source of fund for the local government in our statutory book. Hence the need for quantity Estate Surveyors and Valuers to place value of all rateable hereditaments, within the jurisdiction of the council. Each department of our practice is controlled by experienced and professionally qualified hands. As a team, we emphasis that any assignment or project undertaken by the firm is centrally planned and executed to minutest details, with the relevant professional input.