When people are buying or selling real estate, there are numerous considerations that determine answers to the seller's question, "What should I ask for this condo?" or the buyers question, "How much should I pay for this house?" Many of them are strictly personal. Despite multiplicity of personal circumstances, all buyers would like to know what the current market price is for the property they are considering. Market value is the amount of money a buyer, who is willing but not obligated to buy, would pay to a seller who is willing but not obligated to sell. The most common answer that real estate agents give to the question about market value is the following: "It is what the market will bear." In other words, we do not know the market value until the place is sold.
展开▼
