Definitions for "Market Approach To Value" Add To Word List
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In appraisal, a market value estimate of property based on actual prices paid in similar market transactions.
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The actual price paid for similar market transactions used by the appraiser.
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A method of appraisal that analyzes the sale price of comparative houses and uses that as a basis for coming up with a figure.
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An appraisal method in which the value of a property is estimated by means of comparing it with similar properties recently sold.
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The Market Approach to Value is one of the methods used to determine the value of property; it uses the value as determined by the open market to establish the assessed value of a property. The Market Approach to Value is the same as the Comparable Sales Approach to Value. See page 27.
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In appraisal, using the marketplace as a yardstick to measure the value of property.
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An estimate of value based on the actual sales prices of comparable properties. Contrast with cost approach to value and income approach to value.
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