Difference between fair value and , market value

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Querist : Anonymous

Querist : Anonymous (Querist)

27 September 2016 Hi,

I would like to know about the what is the Difference between Fair value and , market value

Regards,
Srikanth M.

Sandeep Dharar

Sandeep Dharar (Expert)
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27 September 2016 U may visit the following link for details:-

https://www.appraisalcourseassociates.com/2012/10/01/1265/

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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05 October 2021 Fair market value (FMV) is the price that an asset would sell for on the open market. Fair market value has come to represent the price of an asset under the following usual set of conditions: prospective buyers and sellers are reasonably knowledgeable about the asset, behaving in their own best interest, free of undue pressure to trade, and given a reasonable time period for completing the transaction.
Where as market value, refers to the price of an asset in the marketplace. Therefore, while a home's market value can easily be found on a listing, the fair market value is more difficult to determine. Similarly, the term, appraised value, refers to an asset's value in the opinion of a single appraiser, thus not immediately qualifying the appraisal as fair market value. In cases where a fair market value is needed, however, an appraisal will usually suffice.