How Much Should I Pay?
The Seller wants to sell their home at the highest possible price. The Buyer does not want to lose out to a competing buyer but also does no want to overpay. How do we determine a fair price?
Black’s Law Dictionary (Sixth Edition) defines “Fair Market Value” (in part) as:
The amount at which property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell and both having reasonable knowledge of the relevant facts.
