The price at which two unrelated and non-desperate parties would agree to. The price a piece of land or commodity would bring on the open market at that time.
The value of a piece of equipment if it were to be sold in an arms-length transaction between a willing buyer and a willing seller.
The value of an Option premium according to a mathematical pricing model. e.g. Black & Scholes model. Also known as "Theoretical value".
the price at which a fully-informed seller, who is under no compulsion to sell, would be willing to sell an asset to a fully-informed buyer, who is under no compulsion to buy.
The highest price for a property that a willing buyer would pay, and the lowest price a willing seller would accept.
a) The price at which a buyer and seller agree to conduct a transaction; b) The value of an option or futures premium according to a mathematical model.
For participants in employee stock option plans: The price per share used by your company, as determined in your plan document, to set the Exercise Price and calculate the gain on an exercise for tax purposes.
The highest price that the market will bear for the purchase of real or personal property.
The market at which a piece of property would sell between a reasonably informed buyer and a reasonably informed seller. In real estate markets, comparable recent sales help the buyer and seller decide the fair market value.
The price that a piece of property could earn if sold to an ordinary buyer on the open market.
The highest price a property would bring if offered for sale in a competitive market for a reasonable time period, with both buyer and seller being fully aware of all the property's present and future uses without being compelled to conduct the transaction.
The value of your account as of December 31, 2001 (the last business day of the year) as shown on your year-end statement and Form 5498 (if applicable). The fair market value is calculated by multiplying the number of shares in your fund (s) by the net asset value (s).
Fair market value is the price that the property, services or assets would sell for in an open market. If no reliable price quotes are available, then the fair market value is based on a good-faith approximation of the value.
The highest price available, expressed in terms of cash, in an open and unrestricted market between informed, prudent parties acting at arm's length and under no compulsion to transact.
Amount at which property would be transferred between a willing buyer and a willing seller, neither of whom are under compulsion to purchase or sell and both of whom have reasonable knowledge of facts relevant to the property.
The value the Cook County Assessor places on each parcel of real estate.
A term used in law that means the same thing as MARKET VALUE.
The amount for which property would currently sell on the open market.
The fair price for a financial instrument that is determined in an open market environment.
For tax purposes, the price, based on the current market value determined by supply and demand, for which a buyer and seller would be willing to make a transaction.
The value for which a reasonable seller would sell an item of property and for which a reasonable buyer would buy it.
Fair market value is the amount that is agreed upon by the buyer and seller as being a reasonable price for the vehicle.
Choose this option for a specified term (1 to 5 years) and there are two options at the end of the lease term. The equipment may be purchased for the fair market value (FMV) or returned to the leasing provider with nothing further to pay. The FMV is typically 10% of the original cost of the equipment. The benefits of an FMV lease are lower monthly payments and potential tax benefits (discuss with your tax advisor).
the price at which a willing buyer would buy, and a willing seller would sell, neither being under any compulsion and both having complete knowledge of the pertinent facts
The price based on the current market value determ... Add a comment
Fair market value is the price you would have to pay to buy a particular asset or service on the open market. The concept of fair market value assumes that both buyer and seller are reasonably well informed of market conditions, that neither is under undue pressure to buy or sell, and that neither intends to defraud the other.
The likely selling price as defined by the market at a specific point in time.
Price, which is usually arrived at by comparable sales in the area, that is negotiated between the seller and buyer in a reasonable time.
Fair market value is the amount a dealer or reseller may pay for your book or ephemera item.
The dollar value that a willing buyer would pay a willing seller, neither being under any compulsion to buy or sell and both having full knowledge of relevant facts surrounding the transaction.
the price at which a willing buyer will buy an item and a willing seller will sell an item.
The value of a home as determined by how much it would sell for in the applicable market.
This is what the leased equipment would be worth on the open market at the termination of the lease. The lessee usually has the option to purchased the leased equipment at the end of an agreement at the Fair Market Value price.
The price a property is transferred for between buyer and seller, each having a reasonable knowledge of all facts.
A term usually found in appraisals that attempts to determine the cash price that would likely be negotiated between a willing seller and willing buyer in a reasonable amount of time. For a sale to be considered a reflection of "Fair Market Value", it must meet all the conditions of a fair sale whereby: (1) both buyer and seller act prudently, knowledgeably and under no necessity to buy or sell i.e., other than in a forced or liquidation sale, (2) the property must be offered on the open market for a reasonable amount of time, taking into consideration the property type and local market, and (3) payment is made in cash or terms equivalent to cash. When a sale is unlikely, i.e., when it is unlikely to be completed within 12 months, the appraiser must discount all cash flows generated by the property to ascertain the estimate of Fair Value.
A terms used frequently by appraisers referring to their judgement and opinion about an object's likely sale price if offered for sale by a willing buyer. Since the auction process is open to all bidders, a sale at auction is considered to be a measure of Fair Market Value.
The highest price a willing and able buyer would pay for a property in the open market. A home's selling price is usually a good indication of its fair market value.
Also referred to as FMV, it is the price an item will sell for. In real estate different methods including sales comparison method are used in determining the fair market value of a property. The lender may appoint an appraiser to determine the fair market value of a property before disbursement of funds.
The price at which a property would change hands from a willing seller to a willing buyer, where neither party is under a compulsion to sell or buy and where both have reasonable knowledge of all pertinent facts. Also, Market Value
Price that is likely to be negotiated between a buyer and seller. Often determined by comparing the values of other similar properties sold in the area.
The price a ready, willing and able buyer will pay for a home that a seller will accept.
The price that a buyer would be willing to pay for an asset and the seller would be willing to accept in an open and unrestricted market.
The estimated price at which an asset or service would pass from a willing seller to a willing buyer, assuming that both buyer and seller are acting rationally, at arms length, in an open and unrestricted market, when neither is under compulsion to buy or sell and when both have reasonable knowledge of the relevant facts. It is also presumed that the price is not affected by special or creative financing or sales concessions granted by anyone associated with the sale.
The price a use asset would fetch if sold on the market today. Homes and real estate typically increase in value while automobiles and some personal property, such as computers and appliances, usually decrease in value over time.
The price that would be negotiated by a willing buyer and a willing seller in a reasonable time.
The price a prudent buyer will pay and seller will agree upon both acting freely, carefully, and knowledgeably without outside influence.
The likely selling price of a home. In a mortgage or a home equity loan, fair market value is often determined by an appraisal.
The price at which an item can be sold at the present time between two unrelated people, neither under compulsion to buy or sell.
The price at which an asset or service passes from a willing seller to a willing buyer. It is assumed that both buyer and seller are rational and have a reasonable knowledge of the relevant facts.
Is the estimated value of your home determined by the closed sales of homes in your neighborhood that are similar in size, age, condition and improvements. What an appraisal will determine.
The value of an item as determined by negotiation between buyers and sellers and which value would be acceptable as a basis of a purchase and sale.
is defined by Louisiana Revised Statute 47:2321 as follows: "Fair Market Value is the price for property which would be agreed upon between a willing and informed seller under usual and ordinary circumstances; it shall be the highest price estimated in terms of money which property will bring if exposed for sale on the open market with reasonable time allowed to find a purchaser who is buying with knowledge of all the uses and purposes to which the property is best adapted and for which it can be legally used." Finding the "fair market value" of your property involves discovering the price most people would pay for it in its present condition. It is not quite that simple, however, because the assessor has to find what this value would be for every property every year. The assessor's job doesn't stop there. He must immediately begin gathering sales and other data for future years as the market is constantly changing.
the market value of the equipment at the time of lease term being completed.
An economic concept designating the price at which a willing seller and willing buyer will agree when both parties are acting prudently, knowledgeably, and under no compulsion to sell or buy.
The price a willing buyer will pay and a willing seller will accept for real or personal property.
The price for equipment that a buyer would be willing to pay a seller in the open market.
Value based on current market value and supply and demand conditions.
A price freely agreed upon by a willing buyer and a willing seller of a property, with neither party being under any compulsion to buy or sell.
The value of a property as determined by a certified appraiser utilizing comparable sales of similar properties within the last 6 months.
A price arrived at by a buyer and seller with the assumption that both buyer and seller have reasonable knowledge of the prevailing market conditions.
The price of an asset sold by a willing vendor to a knowledgeable purchaser, neither party being under duress.
The highest price in terms of money that a parcel of property will bring on the open market when neither buyer nor seller is under any compulsion to act.
The highest monetary price or its equivalent available in a competitive markets as determined by negotiation between an informed, willing, and capable buyer and an informed and willing seller. Also called market value.
The price an owner willing, but not under compulsion, to sell, ought to receive from a buyer willing but not under compulsion to buy.
The price at which an asset changes hands going from a willing seller to a willing buyer, assuming both seller and buyer have reasonable knowledge of pertinent facts.
The price at which property is transferred between a willing buyer and a willing seller who have reasonable knowledge of all pertinent facts and neither being under any extraordinary compulsion to buy or sell.
The open market value of the asset at the completion of the lease. A Purchase Option under a True Lease is typically the Fair Market Value at the conclusion of the lease.
The price that the market would bring, over a reasonable period of time, for a property for sale or for lease.
The appraised value of a property as compared with other property values on the market.
An end of lease option to purchase leased property at its then fair market value.
the price that a willing buyer would pay a willing seller, neither being under any compulsion to buy or sell and both being fully informed about relevant facts.
For purposes of the Pinelands waiver program, the value of a parcel of land based on what a willing buyer will pay a willing seller in an arms length transaction, knowing the parcel needs but does not have a Waiver of Strict Compliance. The determination of fair market value will account for how much the parcel will contribute to the value of a larger, developable parcel.
The estimated amount at which the property might be expected to exchange between a willing buyer and a willing seller, neither being under compulsion, each having reasonable knowledge of all relevant facts, with equity to both.
The value in the open market of the asset at the termination of the lease. A Purchase Option under a True Lease should be at the Fair Market Value at the end of the lease.
The value for which you could reasonably expect to buy or sell an item.
The price at which an item can be sold by a willing seller to a willing buyer, neither of which are under any pressure to buy or sell. Furthermore, it's assumed that both parties are dealing rationally, have knowledge of relevant facts, and are not related.
The market price for an asset as would be agreed to by a willing buyer and a willing seller.
Price at which property would change hands between a willing buyer and seller and calculated as the mean (average) between the highest and lowest selling prices on the valuation date.
The price that buyer is probably willing to pay and a seller is probably willing to accept for a property.
(FMV) An economic concept designating the price a willing seller and buyer will agree on when both parties are acting prudently, knowledgably and under no compulsion to sell or buy.
The amount of cash or its equivalent that a property would bring if exposed for sale in the open market. Also known as Full Cash Value. R&T Code Section 110.
The highest price on the date of the valuation that would be agreed to by a seller, being willing to sell but under no particular or urgent necessity for doing so, nor obligated to sell, and a buyer, being ready, willing and able to buy but under no particular necessity for so doing, each dealing with the other with full knowledge of all uses and purposes for which the property is reasonably adaptable and available.
The price that a willing buyer will pay a willing seller for an asset. The fair market value of a company generally assumes the value of the company as an ongoing business.
The price at which property would change hands between a buyer and a seller, neither having to buy or sell, and both having reasonable knowledge of all necessary facts.
The price at which a willing seller would sell and a willing buyer would buy, neither being under abnormal pressure.
The net book value on the balance sheet reflects fully depreciated assets, which may or may not have a value that exceeds NBV. In most cases, real property (e.g. real estate) is the leading candidate to be restated as a balance sheet item at fair market value (FMV).
The value of an asset as determined in the open market under normal selling conditions.
Highest price an informed buyer will pay, assuming there is no unusual pressure to complete the purchase.
The price at which property is transferred between a willing buyer and a willing seller, each of whom has reasonable knowledge of all pertinent facts and neither being under any compulsion to buy or sell
The price at which property would be transferred between a willing buyer and willing seller, each of whom has a reasonable knowledge of all pertinent facts and is not under any compulsion to buy or sell.
The appraiser's opinion of value as written in his or her appraisal report should reflect the fair market value of the property -- what a willing seller would pay a willing buyer in an arm's-length transaction.
The highest price available in an open and unrestricted market between informed, prudent parties, acting at arm’s length and under no compulsion to transact expressed in terms of money or money’s worth.
A price at which a willing buyer and a willing seller, both knowing the relevant facts about the business, would transfer a company.
The highest price that a willing buyer would pay and the lowest the willing seller willing would accept. Neither party is compelled to buy or sell in this situation.
The highest price that a willing buyer and willing seller would complete a real estate sales transaction.
an appraisal term for the price which a property would bring in a competitive market, given a willing seller and willing buyer, each having a reasonable knowledge of all pertinent facts, with neither being under any compulsion to buy or sell.
The price at which property would change hands between a willing buyer and a willing seller. Special IRS rules apply to the valuation of charitable gifts. For more information on this topic, visit the IRS website at www.irs.gov and read the following publications: Publication 526 - Charitable Contributions and Publication 561 - Determining the Value of Donated Property.
The value of an asset at the termination of the lease often determined by an agreement between lessor and lessee, or alternatively by appraisal or open bidding. A Fair Market Value lease is also referred to as a "True Lease" or a "Tax Lease."
The price of a home based on the highest price a buyer would pay as well as the lowest price a seller would accept.
That hypothetical value of a piece of property, given a willing purchaser and a willing vendor, and a reasonable amount of time for the property to be exposed to sale.
The amount that a willing buyer would pay to a willing seller to purchase certain property at a particular point in time.
The amount at which property would change hands between a willing buyer and a willing seller, neither being under compulsion to buy or sell and both having reasonable knowledge of the relevant facts.
The highest price that a buyer, willing but not compelled to buy, would pay, and the lowest a seller, willing but not compelled to sell, would accept.
A fair price for a home or automobile based on similar sales of similar size and quality.
The value of a piece of equipment if the equipment were to be sold in a transaction determined at arm's length, between a willing buyer and a willing seller, for the equivalent property and under similar terms and conditions. Simply, the actual market value of the leased asset.
Price that probably would be negotiated between a willing seller and willing buyer in a reasonable time. Usually arrived at by comparable sales in the area.
The current value of an asset if sold on the open market. Federal tax laws directly address the manner of determining and reporting fair market value.
Price at which a willing seller and a willing buyer will trade. A fair, economic, just and equitable value under normal conditions.
The price that an asset would bring on the open market.
The price at which a property will sell from a willing buyer to a willing seller.
The assessed value of equipment based on actual market demand.
The price a property can realistically sell for, based upon comparable selling prices of other properties in the same area.
What a willing buyer would pay a willing seller if neither were under any compulsion to buy or sell; the standard by which property is valued for estate-tax and other purposes. The fair market value of a gift of a listed marketable security is the average of its high and low quotations on the date the gift is made. For assets whose worth is not publicly listed, an appraisal is usually required to ascertain the fair market value.
Often arrived at by looking at the prices of similar properties in a given area, the fair market value will be mutually agreed upon by the buyer and seller, ie: neither party is forced into agreeing the price and terms of the transaction.
the price for property which would be agreed upon between a willing and informed buyer and a willing and informed seller under usual and ordinary circumstances; it shall be the highest price estimated in terms of money which property will bring if exposed for sale on the open market with reasonable time allowed to find a purchaser who is buying with knowledge of all the uses and purposes to which the property is best adapted and for which it can be legally used(as defined by Louisiana Statute 47:2321).
A property's worth on the open market, assuming a willing buyer and seller with no undue pressure to act and full knowledge of all significant information relating to the property.
An appraisal term. It is the price that you, the buyer, are willing to pay and that the seller is willing to accept for a piece of property. In arriving at the price, both you and the seller must be reasonably aware of the pertinent facts and be under no obligation to buy or sell.
The price an item would sell for, assuming the buyer and seller both have reasonable knowledge of the item's worth and are not under pressure to buy or sell. In real estate, to determine fair market value it is common to compare other similar properties sold near the same time as your property. Also called true market value or current market value.
A price for property agreed upon between buyer and seller in a competitive market with neither party being under undue pressure.
The reasonable price that a buyer would pay, and a seller would accept, for the sale of a property.
The value of a property, which is typically based on comparable sales of similar properties within the last six months.
The highest price that a buyer would pay (a buyer who is willing but not obligated to buy) and the lowest a seller, who is likewise willing but not required to sell, would accept for a property.
The highest monetary price which a property would bring, if offered for sale for a reasonable period of time in a competitive market, to a seller who is willing but not compelled to sell, from a buyer, willing but not compelled to buy, both parties being fully informed of all the purposes to which the property is best adapted and is capable of being used.
The value of an item as established by a consideration of how much an independent buyer would pay to an independent seller in a completely free transaction for the item.
The amount that a willing buyer would pay a willing seller for the stock of a company. The fair market value on the day stock options are granted typically determines the strike price.
The amount for which an item can be sold on the open market by a willing seller to a willing buyer.
The price obtainable in the market which is fair in view of conditions currently existing; The price at which a willing seller will sell and a willing buyer will buy, neither being under pressure.
The value of an asset if it were to be sold in an arms-length transaction, between a willing buyer and a willing seller. FMV is determined by either agreement or appraisal.
The value at which estate property is included in the gross estate for federal estate tax purposes; the price at which property would change hands between a willing buyer and a willing seller under any compulsion to buy or sell with both having knowledge of all the relevant facts.
The price at which two unrelated parties, under no duress, are willing to transact business.
The amount that a consumer is willing to pay for a vehicle.
There are many different variations on the precise definition of this term. It is basically the value of a property on the open market that represents what a seller would reasonably sell the property for and what a reasonable buyer would purchase the property for given the presumed value of other similar properties that have recently sold in the same or similar market.
The price at which a willing seller will sell, and a willing buyer will buy, in an arm's length transaction when neither is under compulsion to sell or buy and both have reasonable knowledge of relevant facts.
The price the average buyer would be willing to pay for property at the time the owner is willing to sell.
The price at which a property is most likely to sell when compared to similar properties in the same general area.
The price that a home should sell for given the existing market conditions.
Amount of money a willing buyer will pay a willing seller for property.
1st and 2nd Occurrence The price which a willing buyer will pay a willing seller for a piece of real estate. The above definition is only a general definition. You should note that the exact definition of fair market value depends on where (the jurisdiction) the property being bought or sold is located, on state/local case law and on other state/local legal issues.
What a qualified buyer will pay for goods, services, or property.
The appraiser's definition is “the price at which a willing buyer would purchase a property and a willing seller would sell the same property, when neither party is under any compulsion to buy or sell, and each party has full knowledge of all pertinent facts relating to the sale.” Professional appraisers use several different methods for estimating fair market value depending on the type of property involved.
Price at which an asset passes from a willing seller to a willing buyer. Each has access to relevant facts and is acting freely.
A fair price for a home or vehicle that is based on recent sales and similarly valued properties.
The value of an option or futures premium calculated by the Scholes Black mathematical model.
A legal term variously interpreted by the courts, but generally meaning the price at which a willing buyer will buy and a willing seller will sell an asset.
The value placed on an item or service by an informed buyer and seller, neither being under pressure to buy or sell. Items that are not traded frequently may require an expert appraisal to determine fair market value.
The highest price that a potential home buyer would be willing to pay for a property and the lowest price a potential seller would be willing to accept for a property.
The price an informed buyer will pay an informed seller with neither party being under duress.
The price at which property is transferred between a willing buyer and a willing seller, based on accurate appraisals, and and neither party is under compulsion to buy or sell.
The price at which an asset- timber, for example-would change hands in a transaction between a willing, informed buyer and a willing, informed seller. In a Section 631 (a) transaction, the timber or other asset must be valued as it existed on the first day of the owner's tax year, regardless of any changes that subsequently happen to it or to the market. Also see “Section 631 (a) transaction.
The price for which property can be sold in an arms-length transaction.
Refer to FMV for definition. See: Resources; Transfer of Property
A price that would be acceptable on the open market for items or property of equivalent comparison.
The price which a property might reasonably be expected to realize when sold by a willing seller to a willing buyer in an arm's length transaction, after adequate exposure to the market. Determined by a comparison of the subject property to other similar properties in a similar area that have sold recently.
The amount that a willing buyer would pay at a given point in time for the auto (property) in a realistic transaction.
The price that a property would sell for on the open market.
This is the future value of the equipment at lease termination. The Lessee will have the option to negotiate it's then fair market value and purchase the equipment. Otherwise, the Lessee can either return the equipment with no further obligation or continue to lease the equipment for an additional twelve months at the original leases payment. The FMV Leases may also qualify as a tax deductible operating expense (please consult your accountant for your particular tax situation).
The value that a willing and knowledgeable buyer would pay, and a willing and knowledgeable seller would accept, in an arm's-length transaction for a property.
Fair market value refers to the highest price that a buyer would pay, and lowest price a seller would accept, providing both parties were willing, but not compelled to buy.
A hypothetical number representing the most probable price that would be paid for a property by average, informed purchasers. Federal Public Defender An attorney employed by the federal courts on a full-time basis to provide legal defense to defendants who are unable to afford counsel. The judiciary administers the federal defender program pursuant to the Criminal Justice Act.
The price a willing buyer will pay a willing seller for a leased property on an "as is, where is" basis with both under no compulsion to either buy or sell.
is the price that the Buyer is willing to pay and that the Seller is willing to accept for a piece of property. In arriving at this price, the Buyer and the Seller must be reasonably aware of the pertinent facts and not be under any duress to buy or sell.
a theoretical worth of a property from both the buyer's and seller's perspective
The amount of money 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.
The price that property brings when it is offered for sale by one who is willing but not obligated to sell, and is bought by one who is willing or desires to buy but is not compelled to do so.
Fair Market Value is the value or price that is established in a transaction in which a property is sold in the open market with a reasonable time for the seller to find a purchaser. Both the seller and purchaser should be attempting to maximize their gains while neither is in a position to take advantage of the other. See page 27.
A fair price for a home based on recent sales of properties of similar size and quality in the neighborhood. Back
The price an asset would receive if the buyer and the seller were equally interested.
The highest price a buyer would be willing and able to pay and the lowest price the seller would be willing to accept
The amount at which property would change hands between a willing seller and a willing buyer when neither is acting under compulsion and when both have reasonable knowledge of the relevant facts.
An economic concept denoting the price, in terms of money, at which a willing seller and willing buyer will agree when both parties are acting prudently, knowledgeably, and under no compulsion.
The price at which property is being bought by a willing buyer and sold by a willing seller.
The fair market value is the value (generally, what a willing buyer would pay to a willing seller) of an asset or assets of an IRA as of a certain date. The December 31 fair market value of total IRA assets must be provided to each IRA holder and the IRS each year.
Price at which an asset or service is sold by seller to buyer, assuming both have reasonable knowledge of relevant market facts.
The value of a piece of real estate in the open market. Used to determine the assessed value of property for taxing purposes.
price at which a seller is willing to sell and a buyer is willing to buy, each of whom has reasonable knowledge of all pertinent facts and neither being under any compulsion to buy or sell
Price at which an asset is sold and bought in the open market.
The price for a property in a fair and competitive market. The sale price of your home is a true value if it's freely available on the open market. This means that all potential buyers know that a home is up for sale and have an equal opportunity to bid for it. Even if you sell your home for less than you would have liked, this price is still fair and square. The price of a home sold in court actions, such as a foreclosure or bankruptcy is not the fair market value.
The current value of a particular vehicle in the marketplace, based on mileage, exterior and interior condition, mechanical fitness, etc.
The appraised value of the equipment at termination or at the end of the Agreement term.
The price at which property would change hands between a willing buyer and a willing seller, where both parties have reasonable knowledge of the relevant facts and neither party is under any compulsion to buy or sell.
That price a property will bring given that both buyer and seller are fully aware of market conditions and comparable properties.
The highest price a willing and able buyer would pay and the lowest price a willing seller would accept.
The value of a home based on a comparison of that home with comparable homes in the same neighborhood that are either presently on the market or have sold in the last six months.
The term used to describe an option’s intrinsic value, or its worth as determined by a mathematical model.
The price a willing buyer would pay a willing seller if neither was under any compulsion to buy or sell. The standard at which property is valued for a deemed disposition.
the $Amount that theoretically represents fairness to both buyer and seller.
The theoretical market price of a property; often measured by comparing recent sales of nearby properties.
Also known as Objective Value or Market Value; it is the price which a willing seller agrees is the most probable price the property will bring on the open market and a willing buyer is agreeable to pay. (This assumes that neither party is under severe pressure to buy or sell.)
Price at which a buyer and seller, under no compulsion to buy or sell, will trade.
A term used in the importing business denoting the value of an imported product, whether sold in the country of exportation or country of origin.
The most likely price that a piece of property or home can realistically be sold for, and is dependent on the selling price of similar real estate in the area
The hypothetical most probable price that could be obtained for a property by average, informed purchasers.
Price at which property would change hands between a buyer and a seller without any compulsion to buy or sell, and both having reasonable knowledge of the relevant facts.
The price that a willing buyer would pay a willing seller, neither being under any compulsion to sell or buy.
An amount that would be paid by a willing seller and accepted by a willing buyer, both of whom are under no compulsion to buy or sell and both of whom have full knowledge of the significant facts about the property.
the hypothetical price that a willing buyer and seller will agree upon when they are acting freely, carefully, and with complete knowledge of the situation.
The price a market-educated buyer will pay and a market-savvy seller will accept for property given that neither the seller nor the buyer is under duress caused by a divorce, an unanticipated job transfer, or some other circumstance that puts either party under pressure to perform quickly. Related Glossary Terms: market value
The price at which an asset passes from sellers to buyers that deal at arm's length.
The price of an asset or service as determined by the buyer and seller of the asset or service, where both parties have sufficient information to make a rational decision. See: Market
Amount at which an item can be exchanged between willing unrelated parties, other than in a forced liquidation. Usually the quoted market price when a market exists for the item
The price established in a free market between a buyer and seller in an arms length transaction where neither one is compelled to buy or sell. In an appraisal, this is the final value derived after examining the Sales Comparison, Cost, and if applicable, Income approaches; sometimes referred to as "Market Value."
A price that both the seller and buyer agree represents a valid price based on current market conditions.
(known in Britain as Open Market Value) A figure that is the highest amount a purchaser would agree to pay for a property and the lowest amount the vendor would be prepared to sell at.
The amount at which an asset could be bought or sold in a current transaction between willing parties, that is, other than in a forced or liquidation sale. If a quoted market price is available for a financial instrument, the fair market value to be used is the product of the number of trading units of the instrument times the market price per unit.
The highest price that a willing, but not compelled, buyer would pay, and the lowest price that a willing, but not compelled, seller would accept.
Legal term synonymous with MARKET VALUE.
Amount that could be received on the sale of real estate when there is a willing seller and buyer. It is a term generally used in property tax and condemnation legislation, meaning the market value of a property.
A reasonable estimation of what a property is worth, based on comparable properties and adjusted for unique property characteristics.
The value of an asset, under the assumption it is sold to a willing purchaser by a willing seller, under normal conditions.
Fair Market Value is a term in both law and accounting to describe an appraisal based on an estimate of what a buyer would pay a seller for any piece of property. It is a common way of evaluating the value of property when assessing damages to be awarded for the loss of or damage to the property, generally in a claim under tort or a contract of insurance.