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Market Value

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Eli

Elite Member
Joined
May 12, 2007
Professional Status
Certified General Appraiser
State
Tennessee
It would do us well to study the market value definition of real estate. Louisiana and Virginia are riding that horse.

The Definition of Market Value from Fannie Mae: Market value is the most probable price which a property should bring in a competitive and open marketunder all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each acting in what he considers his own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale.
 

Eli

Elite Member
Joined
May 12, 2007
Professional Status
Certified General Appraiser
State
Tennessee
Antitrust law is on it dog like white on rice. Don’t be like the appraiser wanting his $60,000 that is delinquent.
 

residentialguy

Elite Member
Joined
Mar 24, 2009
Professional Status
Certified Residential Appraiser
State
Minnesota
I'm not going to do a bunch of researching to try to decipher wth you're getting at. if you have an issue of something they did, post a link.
 

Eli

Elite Member
Joined
May 12, 2007
Professional Status
Certified General Appraiser
State
Tennessee
I'm not going to do a bunch of researching to try to decipher wth you're getting at. if you have an issue of something they did, post a link.


I should take you on a hunt. Let me say this. The hunt is on. It ain’t over. The definition of market value is awesome on Fannies part. I like it.

Antitrust law is a different animal. That’s where Louisiana and Virginia and the FTC are going.
 
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Eli

Elite Member
Joined
May 12, 2007
Professional Status
Certified General Appraiser
State
Tennessee

miktay

Senior Member
Joined
Jul 3, 2007
Professional Status
Certified Residential Appraiser
State
Texas
I just realized that for the past several weeks, the only reason I'm checking out this forum is to see what new thing Eli is posting today....
 
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