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Challenges of Mortgage Valuation in Port Harcourt, Nigeria

Ekenta , Chukwuemeka and Iroham, C.O. (2014) Challenges of Mortgage Valuation in Port Harcourt, Nigeria. Issues in Business Management and Economics, 2 (4). pp. 74-79. ISSN 2350-157X

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Abstract

This paper examined the continuing challenges confronting Mortgage Valuation in Port Harcourt, Nigeria. Accordingly, this paper critically analyzed the nature, causes and types of challenges faced while carrying out Mortgage Valuation. It also tries to draw out solutions from theory and practice for implementation by three major stakeholders; the academia, practitioners and the regulatory institutions.Questionnaire was administered to (30) estate surveying firms randomly selected in the study area, while 27(90%) was retrieved and used for the study. Presentation and analysis of data was done using frequency tables and percentages.The findings of the study revealed that there is total neglect of valuation guidelines by valuers’ is major challenge that confronts mortgage valuation. Furthermore, the study revealed that most estate surveyors assigned for valuation inspections are not properly supervised. On the strength of the findings, the study recommends that estate surveyors and valuers’ should have updated property vending desks in their offices.

Item Type: Article
Uncontrolled Keywords: challenge, mortgage, valuation, property.
Subjects: H Social Sciences > HD Industries. Land use. Labor
T Technology > TD Environmental technology. Sanitary engineering
T Technology > TH Building construction
Divisions: Faculty of Engineering, Science and Mathematics > School of Civil Engineering and the Environment
Depositing User: Mr Solomon Bayoko
Date Deposited: 19 May 2014 14:49
Last Modified: 30 May 2014 08:00
URI: http://eprints.covenantuniversity.edu.ng/id/eprint/2640

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