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International records / OpenAlex research

Accuracy of auction sale valuations in distressed bank lending decisions in Nigeria

Of all the sub‐sectors of the national economy, the banking industry and the property market have arguably been most severely affected by the current recession. Thus, the prevailing credit crunch in real estate finance and market conditions have implication for disposal and valuations of real estate for mortgage purposes. The study examined whether forced sale valuations of mortgage properties were a good proxy for their auction sale prices. Relevant data involving 67 auction sales of foreclosed residential property transactions together with their contemporaneous forced sale valuations were p…

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