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fair market value?

  • July 26 2012 - Marlborough
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Answers (5)

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I don,t think you guys get it...Tax Assessors give us a FMV of our homes, and tax us on it. The Question, is this what a person should sell the house for? or is this only for tax purposes??  Most new construction sell for much more than the Assessors FMV.
  • April 15 2013
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Fair Market Value is the highest dollar amount a buyer fully aware of the market condition in the subject area would pay, and the lowest amount a seller is willing to accept. It should always be a range and not an exact number. The listing price is totally different. A seller would list a home at a price depending on what marketing strategy they choose, their circumstances at the time, and the demand in their market.







  • July 30 2012
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You will hear many real estate professionals talk about Fair Market Value (FMV). And yes the definition above is a great textbook one. The reality of it is that if you asked 5 different Realtors/Appraisers I bet their opinions of the FMV could vary up to 20-25 percent. IF you are asking this question in the context of what your home is worth, I would advise you to get three opinions. Pricing a house is another subject entirely where the FMV is just one piece of the equation.

  • July 26 2012
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The fair market value is the price at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell and both having reasonable knowledge of relevant facts. United States v. Cartwright, 411 U. S. 546, 93 S. Ct. 1713, 1716-17, 36 L. Ed. 2d 528, 73-1 U.S. Tax Cas. (CCH) ¶ 12,926 (1973) (quoting from U.S. Treasury regulations relating to Federal estate taxes, at 26 C.F.R. sec. 20.2031-1(b)).
  • July 26 2012
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What's the question?
  • July 26 2012
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