Market Price

Market value

A market price valuation determines the estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arms-length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently and without compulsion.
A property’s market valuation takes into account the value of the land and its improvements, its state of maintenance, desirability, accessibility and location relative to shopping centres, schools, medical facilities, major nodes and arteries etc.
A market price valuation is useful when: