Our Service – A.F Olowokure & Associates

Auction Reserve

Here the valuation is channeled towards establishing the reserve price below which an auctioneer should not conclude a sale in an auction. The valuation in this case is required in order to ensure that the property is not disposed at a ridiculous price. A number of the assets mortgaged to banks may have to be valued for the purpose of establishment an auction reserve price.

Taxation

The Nigerian Ports Authoritymay wish to know whether a non – performing loan of a mortgagee has taxation issues, and may need to know the mortgagee’s tax liability. In such cases we determine the tax (which could be Capital Gains Tax, Capital Transfer Tax, Probate or Rates) payable to or chargeable by a Statutory Body taking into consideration the prevailing laws at the time.

Going Concern

Here the valuation presupposes that the property (for instance, a factory) being valued, is to be sold to an investor who wishes to continue making use of the property as it presently is being used and therefore an appropriate value has to be attributed to the goodwill the property presently enjoys.

Redevelopment

A valuation may be necessitated by the need of an investor to know how much to invest on a property not being put to its highest and best use, in which case value has to be attributed to the Latent Value of the property, the cost of a proposed redevelopment estimated, and the open market value of the property estimated.

Compensation

A valuation may be necessitated by a compulsory acquisition by Government, a Road Widening Exercise, Oil Spillage etc whereby the value of an interest in landed property as provided by the Land Use Decree may become vital to a victim asking for compensation. A mortgaged property may become the subject of compensation and therefore this may be of interest to the Nigerian Ports Authority. In all of the above cases, we take into consideration the purpose of the exercise and strive to display a high level of professionalism in painting the picture of the properties being valued, as dictated by the forces operating in the market.