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market value of a home

How is "Fair Market Value" determined?
  • September 11 2009 - New Britain
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Answers (2)

Hi Darlene,
  Market conditions can play a big role in fluctuations in "fair market value" over time. You should know that now appraisers often must update appraisals just a few days before the closing as conditions do change even over the two or 3 months it takes a house transaction to close.
All the best-
Margaret Shea
  • September 24 2009
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Fair market value is best defined as the price a willing, ready and able buyer is willing to pay and a particular seller is willing to accept.

Appraisers use a variety of data to estimate what they believe is a price "willing, ready & able" buyers would pay for a particular home at a specific point in time.
  • September 12 2009
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