fair market value: What is "Market Value"?
- 06/08/11 02:46 PM
Market value is generally defined as the price a willing buyer would pay a willing seller for a property with neither buyer nor seller under pressure to act (relocation, death of a family member, divorce, bankruptcy, avoid foreclosure etc.). A market value sale also is known as an arm's length transaction. (A sale (transaction) made between a willing buyer and seller and no relationship to each other) A number of factors may affect a residential property's market value, including: External characteristics - "curb appeal", home condition, lot size, popularity of an architectural style of property, neighborhood etc. Internal characteristics - size … (2 comments)
Market value is generally defined as the price a willing buyer would pay a willing seller for a property with neither buyer nor seller under pressure to act (relocation, death of a family member, divorce, bankruptcy, avoid foreclosure etc.). A market value sale also is known as an arm's length transaction. (A sale (transaction) made between a willing buyer and seller and no relationship to each other)
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