Multiple Choice
Real estate appraisers generally distinguish among the concepts of market value, investment value, and transaction value. Which of the following statements best describes the concept of market value?
A) It is an estimate of the most probable selling price of a property in a competitive market.
B) It is the value a particular investor places on a property.
C) It is the price we observe when a property is sold.
D) It is the maximum amount that a seller would be willing to accept.
Correct Answer:
Verified
Correct Answer:
Verified
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