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The fair market value of a property is the price a property would fetch if it was put up for sale under current conditions. Determining fair market value usually requires a comparative analysis of the current market and housing prices. However, in cases where a property is exceptionally unique — such as if it were owned by somebody famous — fair market value can be difficult to determine.
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Fair value accounting, often known as mark-to-market, is one of the most commonly accepted valuation methods and becomes more significance when a firm is sold or assets are bought.
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A property's fair market value is the price it would bring in if it were placed up for sale right now. Typically, determining fair market value necessitates comparing recent market and home prices.
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The amount that a property is being sold for is its fair market value. In order to determine fair market value, a review of recent sales and housing costs is typically necessary.
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