Fair Market Value

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Fair Market Value

The amount for which real property or Personal Property would be sold in a voluntary transaction between a buyer and seller, neither of whom is under any obligation to buy or sell.

The customary test of fair market value in real estate transactions is the price that a buyer is willing, but is not under any duty, to pay for a particular property to an owner who is willing, but not obligated, to sell.

Various factors can have an effect on the fair market value of real estate, including the uses to which the property has been adapted and the demand for similar property.

Fair market value can also be referred to as fair cash value or fair value.

fair market value

n. the amount for which property would sell on the open market if put up for sale. This is distinguished from "replacement value," which is the cost of duplicating the property. Real estate appraisers will use "comparable" sales of similar property in the area to determine market value, adding or deducting amounts based on differences in quality and size of the property. (See: market value, appraiser)

References in periodicals archive ?
To this effect, The 20 kg wheat flour sack will be sold Rs 670 in fair price shops while it is being sold in market at Rs 750 and Daal chana rate is Rs 60 per Kg instead of Rs 85 Kg at Market rate.
He said: "The FUW firmly believes that a Welsh sheep farmer who wants a fair price for his lambs in the market should want to see coffee farmers like Nimrod get a fair price too.
The FUW believes Welsh farmers who want a fair price for their lambs in the market should also want a fair price for coffee farmers in other countries.
But in a thoughtful paper subtitled "Fair Price Pronouncements and the Market Price of Crude Oil", Bahattin Buyuksahin and other researchers working at the US Commodity Futures Trading Commission concluded pronouncements by Opec members including Saudi Arabia about fair prices have little influence on actual prices, and supply little or no news to market participants.
Residents of the Washington, DC metropolitan area can follow two simple steps to obtain fair prices for high quality healthcare.
A cross-party Early Day Motion tabled by Richard Bacon MP also called on the government to ensure fair prices were paid by retailers, and that these flowed through the chain.
Fairtrade is a partnership between producers in developing countries, and consumers that ensures they receive good working conditions and fair prices.
com, teaches consumers about fair prices for care, even from their doctors' offices.
Here are some steps that employers can share with their employees to help them get fair prices.
The Plan is not intended to prevent a tender offer or proxy contest to take-over the Company, but rather to prevent a party from gaining control in the open market at currently less than fair prices.
A database that explains fair prices based on amounts paid by health insurance companies for thousands of inpatient, outpatient, office visit, diagnostic, laboratory, dentistry and other services, in every U.