Inadequate Information: A key Challenge to the Valuation of Real Estates in Ghana

The bedrock of a good valuation is the Valuer’s ability to use appropriate methodology to convincingly support the opinion of value and presenting same in clear and unambiguous terms in the valuation report. The ability to use any of these methodologies well largely depends on adequate and reliable data available to the Valuer at the time of Valuation. Obviously, every valuation report is a reflection of the professional image of the Valuer and can either enhance or tarnish this image.In as much as Valuers in Ghana work hard to carry out Valuations that meet international standards, the major challenge is the ability to get adequate credible data to support valuations. This often delays the valuation process, among others.The purpose of this research is toExpose the difficulty in accessing reliable data. Discuss how inadequate information as a challenge affects Valuers in Ghana. Suggest solutions and to welcome further suggestions on ways to circumvent these challenges. The study will be restricted to the operations of Valuers and Valuation practice in Ghana; however it is believed the issue is a phenomenon in developing countries, hence allusions will be made to other countries where necessary.