FMV

Can anyone explain FMV and how one can figure it out?
Thanks

Comments(2)

  • lakotega7th August, 2005

    FMV is Fair Market Value -- it is the arms length price that a seller and buyer agree to without coercion or dire circumstances.

  • nyjosh9th August, 2005

    The easiest way to calculate FMV is by looking at comparable properties (comps) that have sold recently and seeing how much they sold for. You can assume that a house of similar age, layout, size, amenities and area, would sell for a similar price as yours.

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