Constructive Market Value
Definition of "Constructive market value"
Estimated market price property could bring using currently accepted appraisal methods. This might not be the same as the market price at any one given time when the seller is compelled to sell under auction circumstances, but rather the highest price a willing buyer would pay in an open and fair market. See also comparable sales; comparables; market analysis; market approach.
Popular Real Estate Terms
Assures that the title is free of any legal claims including encumbrances. It includes covenants of seizin, freedom from encumbrance, express warranties of title, right to quiet enjoyment, ...
Written agreement between two or more parties to extend the terms of a document. ...
Unexpected increase in the price of property not due to any effort on the owner's part. An example is when the appraised value of a house increases because of a population increase in the ...
Modification made by a municipality to the zoning of a locality. A change in zoning typically has to be requested and approved by a zoning commission and then the legislative body. It can ...
Sewer system built into the streets of a neighborhood that is capable of accommodating the excess water flow of a heavy storm without backing up or flooding. ...
A municipal or county local government board that resolves zoning disputes. ...
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An early term used to describe all types of real estate property, improvements to the land, and all rights accruing to the land. ...
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