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Word Of The Day: Market Value

Real Estate Appraisal,or land valuation is the process of developing an opinion of value for real property (usually market value).

Market value or OMV (Open Market Valuation) is the price at which an asset would trade in a competitive auction setting. Market value is often used interchangeably with open market value, fair value or fair market value, although these terms have distinct definitions in different standards, and may differ in some circumstances.

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