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In real estate, a home’s fair market value is the price that a willing buyer would pay a willing seller for the home in an open market, without current supply and demand conditions being present ...
The fair market value of property is the price at which it would change hands between a willing and informed buyer and seller. The term is used throughout the Internal Revenue Code , as well as in bankruptcy laws, in many state laws, and by several regulatory bodies.
Market value is the most commonly used type of value in real estate appraisal in the United States because it is required for all federally regulated mortgage transactions, and because it has been accepted by US courts as valid. However, real estate appraisers use many other definitions of value in other situations. [5]
Rental value is the fair market value of property while rented out in a lease. More generally, it may be the consideration paid under the lease for the right to occupy, or the royalties or return received by a lessor ( landlord ) under a license to real property . [ 1 ]
There are several types and definitions of value sought by a real estate appraisal. Some of the most common are: Market value – the price at which an asset would trade in a competitive Walrasian auction setting. Market value is usually interchangeable with open market value or fair value. International Valuation Standards (IVS) define:
The two main basis for determining the ad valorem value are fair market value and current use value. The fair market value is based on the typical selling price for property on which the buyer and seller can agree, with the assumption that the property is being used or will be used at its highest and best use after the sale. The current use ...
Commercial real estate has beaten the stock market for 25 years — but only the super rich could buy in. Here's how even ordinary investors can become the landlord of Walmart, Whole Foods or Kroger
The Bolton Fair was founded in Bolton in 1874 as an agricultural fair, but the fairgrounds were later moved to nearby Lancaster in 2004 where it is still held annually. [ 16 ] In the 1920s Bolton was used as a setting and mentioned a number of times in H.P. Lovecraft 's fiction: as a setting in his Herbert West—Reanimator , and also mentioned ...