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    Fair Market Value
     
    Definition of Fair Market Value:

    The highest monetary price which a property would bring, if offered for sale for a reasonable period of time in a competitive market, to a seller who is willing but not compelled to sell, from a buyer, willing but not compelled to buy, both parties being fully informed of all the purposes to which the property is best adapted and is capable of being used.
    See other term definitions:
  • Definition of Executive
  • Definition of Closing
  • Definition of Office Exclusive
  • Definition of House Rules
  • Definition of Present Value Of One Dollar

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