To estimate the market value of the property.
To provide authoritative basis for establishing a policy or taking an action.
PROPERY RIGHTS EVALUATED:
Market value based on the ownership in a fee simple.
DEFINITION OF MARKET VALUE:
The highest price, estimated in terms of dollars, which a property will bring if exposed for sale on the open market, allowing a
reasonable time to find a purchaser who buys with knowledge of all the uses to which the property is adapted and for which it is
capable of being used, including the premise that neither seller nor buyer is under abnormal pressure or stress.
CONTINGENT AND LIMITING CONDITIONS:
Not withstanding that the subject property or comparable properties may be financed, this evaluation is as though the property is free
and clear. This is not an appraisal. It is an opinion of market value based on current market conditions. Should an appraisal be required
for mortgage, insurance or like purposes, the services of a licensed appraiser are recommended