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“Fair market value (FMV) is the price a product would sell for on the open market assuming that both buyer and seller are reasonably knowledgeable about the asset, are behaving in their own best interests, are free of undue pressure, and are given a reasonable time period for completing the transaction.”No, they pay more than the FMV. FMV. FMV.
Please, for god's sake, stop ignoring that I'm talking about market value.
And you haven't been paying attention to real estate for the last 5 years it appears. People have been overpaying for property everywhere in the country. You list a house for $XX. You get a dozen offers for $XX + 20%. It's nuts out there.
my entire point was the FMV and tax assessed value are different. You said they’re the same. I looked up a single house on my phone which sold for a multiple of the tax assessors value from the same year. They must be a sucker along with thousands of others plus the mortgage lenders who gave these people loans presumably on homes purchased on the open market WELL above the tax assessed value.
Have a good one dude. You can talk down to people at your office but doesn’t mean it translates here where you’re being a douche.
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