Sustained forced sale value opinion advice in Nigerian valuation practice:the recurring face of a bad coin

Abstract

This study, the first in a series testing for standardisation of practice among professional Valuers, explores the issue of level of awareness of International Valuation Standards (IVS) provisions among Nigerian Valuers. This is with respect to mortgage valuations in the face of increased volume of secured lending by commercial banks. It seeks to bring to fore the danger posed by unguided or unbridled issuance of Forced Sale Value (FSV) advice for mortgage lending.

Keywords: Forced sale value, mortgage valuation, Nigeria, valuation standards