I have been reading posts, articles, realtors and lawyers interpetation of what fair market value means…and am stlll confused what it means.
1.I think it means the appraised price,comps in the area,minus 6% for realtor fee’s,minus 2% for escrow/title fee’s,minus any and all repairs a buyer would want done to the house or the costs be deducted from the price.
2.My sister thinks it is the appraised price,minus 3% for realtor fee’s.
