Fair Market Value Of My Home

The fair market value is a price that is acceptable for both buyer and seller in simple terms. Often when the price is negotiated the buyer reaches a point where he specifies the maximum amount he is willing to pay for the property and the seller accepts the lowest agreed upon payment beyond which the sale could not exist.

Definition Of Fair Market Value

Fair market value is a term related to the real estate world and it is used legally and commercially in business. The price under fair market value is determined between the buyer and the seller and they arrive at something called the fair market price. It is also used by accountants and appraisers to figure out the fair market price of a property.