MV opinion vs a price estimate

[Mejappz]

This is the type of thread they make people read before entering an insane asylum. Straitjacket material here.

 

[JeffSH]

Fair enough,...but how are you going to state that in the appraisal ?

My opinion of market value is X $?
Or
My opinion of reasonable price is X $?

You can't seriously be this dense. You have to be putting on an act.

 

[George Hatch]

I never use the word price estimate in my appraisals ! I put it thread title vs opinion, because other appraisers were saying "price estimate" in lieu of a market value opinion in posts.

I am not trying to be evasive, I literally never use that term. I give opinions of market value in an appraisal.

Do you state you give a price estimate in an appraisal ? Or a market value opinion ?

I don't recall ever seeing price estimate used in any appraisal, or at any time on this forum except for your references to it.

 

[J Grant]

You can't seriously be this dense. You have to be putting on an act.

I don't recall ever seeing price estimate used in any appraisal, or at any time on this forum except for your references to it.

The word price estimate was being used a lot in the mathmatics thread.

 

[George Hatch]

Oh, I should have known. That explains it.

 

[Mejappz]

The word price estimate was being used a lot in the mathmatics thread.

Lol is that what has you all flustered? All I meany by that was estimated sale price by its actual sale price.

 

[J Grant]

MARKET VALUE: a type of value, stated as an opinion, that presumes the transfer of a property (i.e., a right of ownership or a bundle of such rights), as of a certain date, under specific conditions set forth in the definition of the term identified by the appraiser as applicable in an appraisal.

Market value- above is a type of value, The word "price" is not dysyrf. but the search for a price equivalence to market value is implied in an opinion of value (worth $ of the property at mv sale terms)

 

[J Grant]

You're factually incorrect: the word "price" is literally part of the definition, intent and meaning of MV and that intent is included every time the term MV is used.

MARKET VALUE: a type of value, stated as an opinion, that presumes the transfer of a property (i.e., a right of ownership or a bundle of such rights), as of a certain date, under specific conditions set forth in the definition of the term identified by the appraiser as applicable in an appraisal.

 

[Zephyr999]

11 pages and still not clear to one appraiser...sign of relentless pursuit of wrong theories.
Arguing for arguments sake...bless those who are patiently trying to help her 'square up' this ranting and nonsense.

 

[J Grant]

Based on a complete visual inspection of the interior and exterior areas of the subject property, defined scope of work, statement of assumptions and limiting conditions, and appraiser’s certification, my (our) opinion of the market value, as defined, of the real property that is the subject of this report is

(as defined ) DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under 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 or she considers his or her 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.

The definition of MV above defines the terms of sale for the most probable price developed in the appraisal ( substitute any other definition of market value if prefer_

Note the definition of market value serves as a qualifier for the opinion of market value. The definition of MV as the type of value ( set of terms for most probable price ) is not a substitute for a market value opinion