What is `Market Value’? Concept and Definition of Market Value Market value can be defined as meaning the amount that a willing buyer of an asset could reasonably be expected to pay to acquire the asset from a willing seller. The concept of market value in real estate is based on the idea of comparing like properties to determine the level of value which is determined by buyers and sellers in the marketplace. The market
Assessment Questions:1. Define in your own words, the term “market value”.2. Briefly outline the impact the economic climate has on the values of property.3. What is the role of the agent in providing property appraisals to potential vendors?4. Explain in your own words, how political forces, such as low interest rates or firsthome buyers grants … Read more