Property valuation and variance : investigating the causes of variations in values by valuers in Uganda : case study of Kampala

Abstract

A cross-section of the clientele for valuation services has now and then expressed their discontent about the accuracy of property values produced by practitioners. Financial institutions have consistently complained about over and under valuation of collateral which brings forth the questions as to whether valuers comply with valuation standards and professional guidelines when carrying out these appraisals. From the case of Stanbic Bank vs Tuka Investments and four others, two different valuers returned a value difference of Ugx. 640,000,000 after valuing the same mortgaged property. (Stanbic Bank vs Tuka investments and four others, 2013). Since Uganda has no law governing valuers’ conduct, they do not feel compelled to completely comply with the Valuation Standards and guidelines