Fair market value of real estate is typically described as the highest estimated price a buyer is willing to pay for a property under normal selling conditions. Obtaining an accurate fair market value involves gathering statistical data and information from similar homes with comparable features.
Market price, on the other hand, is the actual amount that a property sells for in a given market. This price may actually be higher, lower or equal to the fair market value estimate. In order to estimate market value, it’s possible for you to use the same tools and methods that professional appraisers employ.
KC Property Group is the direct source to sell your house for a fair amount. With complete transparency and honesty, they.
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This will produce a very conservative figure for the value of your home in the current real estate market. It is a good idea to add an extra 10% to the value reported by this calculator. If, however, you have a recent assessed valuation or appraisal that is higher than this figure, we recommend using the assessment to be safe.
With all those factors and the variations within them, it’s fundamental that you find an experienced local real estate agent because he or she will know how to calculate the fair market value of a property and guide you throughout the home buying (or selling) process.
I do not own another home and I am selling this one for less than market value because some horrible renters caused the property to become run down. My mortgage principal is $263,000 and I am selling.
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The fair market value of real estate is what a buyer would be willing to pay for a property on the open market with no undue influence. In real estate, the term "arms-length transaction" is often mentioned. An example of a non-arms length transaction is when a family member buys a property at a discount to what it would be sold for otherwise.
In 2018, real estate sales generated billion in commissions. Top Offer eliminates those fees to the homeowner, while providing full service and ensuring fair market value for their property. In.