{"id":9443,"date":"2018-02-28T02:33:37","date_gmt":"2018-02-28T02:33:37","guid":{"rendered":"http:\/\/www.realestatewords.com\/?page_id=9443"},"modified":"2022-05-19T14:36:26","modified_gmt":"2022-05-19T14:36:26","slug":"value-of-property","status":"publish","type":"page","link":"https:\/\/www.realestatewords.com\/value-of-property\/","title":{"rendered":"Value of Property"},"content":{"rendered":"
The value of property<\/strong> is most commonly understood as the price someone will pay for it.<\/p>\n In real estate, however, value is reflective of a specific definition of value known as market value<\/strong><\/a>. This definition is typical for lending purposes.<\/p>\n Market value of property<\/strong> means the most probable price which a property should bring in a competitive and open real estate market<\/a> under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus.<\/p>\n 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:<\/p>\nExplanation<\/h2>\n
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