the price at which the property would change hands between a buyer and a seller, neither under undue pressure to buy or sell, and both having reasonable knowledge of all the relevant facts

Fair market value is the price at which the property would change hands between a buyer and a seller, neither under undue pressure to buy or sell, and both having reasonable knowledge of all the relevant facts.

the price for which a property or business would sell on the open market

At an FMV's most basic, Fair Market Value is the price for which a property or business would sell on the open market.

an estimate of the market value of a property

Fair market value (FMV) is an estimate of the market value of a property, that is a voluntary transaction between a willing buyer and a willing seller, both having equal bargaining power and a reasonable knowledge of the pertinent facts.

that price which a seller and willing and able buyer can agree

Fair market value is that price which a seller and willing and able buyer can agree.

the value of an item on the open market

Fair market value is the value of an item on the open market, taking into account account's age, condition, and other relevant factors at the time of loss.

a reasonable price a buyer would pay

In basic terms, fair market value (FMV) is a reasonable price a buyer would pay and a seller will accept.

the highest price, expressed in a dollar amount that the item would bring, in an open and unrestricted market, between a willing buyer and a willing seller who are knowledgeable, informed and prudent and who are acting independently of each other”

Fair market value is “the highest price, expressed in a dollar amount that the item would bring, in an open and unrestricted market, between a willing buyer and a willing seller who are knowledgeable, informed and prudent and who are acting independently of each other”.

the price at which the item or a comparable item would be sold at retail

For property, property is generally held that fair market value is the price at which the item or a comparable item would be sold at retail.

the amount a willing seller would sell and a willing buyer would purchase for property in an arm’s length transaction

Fair market or appraised value is the amount a willing seller would sell and a willing buyer would purchase for property in an arm’s length transaction.

the price a willing buyer would pay a willing seller, where both parties have reasonable knowledge of relevant facts

Fair market value is the price a willing buyer would pay a willing seller, where both parties have reasonable knowledge of relevant facts.

the amount of money a well-informed buyer and seller would accept for property in an open and competitive market without any outside influence

Fair market value is the amount of money a well-informed buyer and seller would accept for property in an open and competitive market without any outside influence.

the price at which an item would change hands between willing buyers and willing sellers, neither being under the compulsion to buy or sell, and both having reasonable knowledge of the relevant facts in the most common market which is reasonable and realistic for a purchaser who is an ultimate consumer of the item

Fair market value is the price at which an item would change hands between willing buyers and willing sellers, neither being under the compulsion to buy or sell, and both having reasonable knowledge of the relevant facts in the most common market which is reasonable and realistic for a purchaser who is an ultimate consumer of the item.

the price a buyer and seller can agree upon assuming both are knowledgeable, willing and unpressured by extraordinary events

Fair market value is the price a buyer and seller can agree upon assuming both are knowledgeable, willing and unpressured by extraordinary events.

that property would sell for on the open market

Fair market value (FMV) is the price for which the property would sell on the open market – this is not the “blue book” value.