MARKET VALUE
The highest price in terms of money which a property will bring on the open market and under all conditions required for a fair sale, i.e., the buyer and seller acting prudently, knowledgeably and neither affected by undue pressures.
Showing posts with label FAIR MARKET VALUE. Show all posts
Showing posts with label FAIR MARKET VALUE. Show all posts
Thursday, May 22, 2008
Wednesday, April 30, 2008
Real Estate Term You should Know
FAIR MARKET VALUE
This is the amount of money that would be paid for a property offered on the open market for a reasonable period of time with both buyer and seller knowing all the uses to which the property could be put and with neither party being under pressure to buy or sell.
This is the amount of money that would be paid for a property offered on the open market for a reasonable period of time with both buyer and seller knowing all the uses to which the property could be put and with neither party being under pressure to buy or sell.
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