Fair Market Value
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.
Source: U.S. Department of Housing and Urban Development
The price a property can realistically sell for, based upon comparable selling prices of other properties in the same area.
Source: Ginnie Mae
The price a property can realistically sell for, based upon comparable selling prices of other properties in the same geographical area.
Source: Ginnie Mae
The amount that a willing buyer would pay to a willing seller to purchase certain property at a particular point in time.
Source: Federal Reserve Board
