The value obtained when a buyer pays cash or its equivalent, the buyer and seller are unrelated, the buyer and seller are informed consumers, and the property has been on the market for a reasonable amount of time is called:

Appraisal in real estate is the sales value of an asset derived towards potential sales in an arm length transaction. This involves a unique appraising process pertaining to the affected property considering the fact that different homes are not of the same features and properties , and moreover , sales of home does not occur regularly as in the common market.

The appraising process involved in forming an appraisal value are

Buyer pays cash or its equivalent
Buyer and seller are not related
Buyer and seller are informed consumer
Property has been on the market for a reasonable time

lindsaysigg lindsaysigg · Answer 2 · 2021-12-09T19:48:56+01:00

lindsaysigg lindsaysigg

09-12-2021

Answer:

Market value

Explanation:

Answer Link