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Fair Market Value

Fair Market Value, defined:

The highest price estimated in terms of money which the property will bring when the property is exposed for sale in the open market by a willing seller allowing time to find a willing buyer, neither buyer nor seller acting under compulsion. both having full knowledge of all the uses and purposes to which the property is adapted and for which is capable of being used.

A Fair Market Value definition assumes perfect knowledge on the part of buyers and seller. As this is rarely the case, our estimate of price is generally indicated as a range.

In evaluating your property, the application of similar tools that a professional appraiser uses should apply; such as:

~ Comparable sales ~ Location ~ Competitive listings in escrow ~ Amenities

~ Square footage ~ General condition of the property ~ Effect of any existing financing

The data will be researched from reliable information currently available from the local Association of Realtors, local real estate firms, and title companies. However, it does not reflect every property of com­parable real estate inventory and recent sales.

Please note that while no one property included is exactly like yours, the comparables will provide a good reference source for a comparative market analysis.

My estimated value for your property does not mean that the sale of your property could not occur at a higher price. The price you ultimately receive depends on your motivation, the motivation of the buyer, and market conditions at the time offers are received.

Once we have tested the market at a price, we will make periodic reviews to ensure we are competitive