Appraisal · Assets and estates
Real-estate asset and estate valuation
In Madagascar, Cabinet ExpertImmo | RABENIMANANA Normand values corporate real-estate assets and family or institutional real-estate estates: contributions in kind to a company, accounting balance sheets, mergers and acquisitions, asset disposals, inheritances, gift-partitions or the liquidation of a matrimonial property regime. Reports are prepared by Mr RABENIMANANA Normand, accredited Building & Real-Estate Expert, registered with the CAREA (Compagnie des Arbitres Rapporteurs et Experts Agréés près les Cours et Tribunaux de Madagascar) since 1990.
Asset and estate valuation in brief
The Firm acts in the valuation, management and transfer of institutional or family real-estate estates, as well as in the valuation of corporate real-estate portfolios.
Family estates: inheritances, gifts and partitions
Contradictory valuations for inheritances, gift-partitions and the liquidation of matrimonial property regimes.
For an inheritance or a family partition, the valuation objectively determines the value of the real-estate assets to be divided. Legal questions relating to inheritance devolution fall within the remit of the notary or lawyer.
For notaries and notarial offices: valuation for the basis of registration duties, amicable inheritance partitions, gifts, marriage contracts involving real-estate assets.
Corporate real-estate assets
Valuation of real-estate portfolios for accounting balance sheets, mergers and acquisitions, tenders or corporate asset disposals, and of property contributed in kind to a company.
Real-estate due diligence
Real-estate due diligence is a full audit of the value and risks of a real-estate asset before acquisition: verification of titles, easements and planning compliance.
The appraisal includes a technical analysis of the property: examination of the condition of the building, a visual check of planning compliance, and observation of apparent easements and the status of the titles provided. Exhaustive legal verification of the title, mortgage registrations and the seller’s capacity falls within the remit of the notary or lawyer.
See also the Mortgage guarantee page, for due diligence before taking security.
Domestic and foreign investors
The Firm carries out the open-market valuations and real-estate appraisals requested by domestic and foreign investors. Reports are written in French; an English summary may be appended on request, with no substitutive value relative to the main report.
The expert does not deal with the legal characterisation of transactions (regime applicable to foreign nationals, structuring through a Malagasy-law company, emphyteutic lease). These questions call for the opinion of a lawyer or notary, to whom the Firm systematically refers the applicant.
To find out more: Investing in real estate in Madagascar: why independent expert appraisal is essential.
Method: replacement cost
For specific properties (industrial, hospital, religious), for which comparable transactions are rare, the net replacement cost method reconstructs the value of the property: cost of new construction, less the depreciation allowance, plus the value of the land. Mr RABENIMANANA Normand combines his registration with the CAREA with significant experience in general construction, which informs the application of this method.
The three methods are presented on the Open-market valuation page.
See also
Contact
Get in touch
Confidential discussion of your file. A personalised fee proposal is sent to you after review of your request.
Or write to contact@expertimmo.mg