Fair Market Value (FMV) is a key concept in real estate appraisals. It represents the price at which a property would sell in an open and competitive market, where both buyer and seller have reasonable knowledge of the property, and neither is under any compulsion to buy or sell. FMV is often used in various situations, such as property tax assessments, divorce settlements, and estate planning.
The determination of Fair Market Value involves a thorough analysis of comparable sales in the local area, considering factors such as location, size, condition, and the general state of the real estate market. FMV is crucial for ensuring that the property value is fair and accurate for tax, legal, or financing purposes.
At Pacific Home Appraisers, we offer a wide range of appraisal services to meet your needs. These include Dispute Appraisal, Divorce Appraisal, Retrospective Appraisal, Hard Money Loan Appraisal, Conventional Loan Appraisal, Land Appraisal, Date of Death Appraisal, and Probate Appraisal.
Additionally, we also provide Desk and Drive-By Appraisals, which are based on public sources of information, without the need for a physical inspection. These appraisals are more affordable and offer quicker turnaround times.
Call to Action: Need an appraisal? Contact us today at 818-880-1466 or visit Pacific Home Appraisers - Order Appraisal to get started!