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A home's fair market value is, in a nutshell, the price that a buyer would pay a seller in an open market. Many factors go into determining it, including location, size, age, condition and the ...
One of the most difficult aspects of the real estate market is estimating the value of a home. With local market conditions changing all the time, it can be hard to accurately price a property. In ...
Market value is usually interchangeable with open market value or fair value. International Valuation Standards (IVS) define: Market value – the estimated amount for which an asset or liability should exchange on the valuation date between a willing buyer and a willing seller in an arm's length transaction, after proper marketing and where ...
Inheriting property, whether expected or unexpected, can raise some questions about what to do with it and what it's worth. Specifically, you'll need to know the property's fair market value (FMV ...
Tax assessors for taxing jurisdictions determine property values in a variety of ways, but are generally required to base such determinations on fair market value. [12] Fair market value is that price for a willing and informed seller would sell the property to a willing and informed buyer, neither being under any compulsion to act. Where a ...
An Automated Valuation Model (AVM) is a system for the valuation of real estate that provides a value of a specified property at a specified date, using mathematical modelling techniques in an automated manner. [1] [2] AVMs are Statistical Valuation Methods and divide into Comparables Based AVMs and Hedonic Models.
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