1+ Fair Market Value Of Home Background. First, what could fred have sold the property for in the current market, assuming it's. Fair market value, or fmv, is the price that your home or other assets would sell for under normal market conditions.
You can't rely on tax assessed values, appraisals or online estimates to give you a many buyers want to know how to figure out the fair market value (fmv) of a home.
Fair market value (fmv) is the price that an individual shopping for a given asset would pay to the individual selling it, or what the asset would get in the research items similar to the asset being sold through thrift shops, specialty dealers, or other stores. This worth does not take into account personal valuation. It might apply to the price of a home, car, or other property, and it can be used in legal ways, for taxation, or by insurance companies to determine the current worth of something. How is the fair market value determined?
