BOV vs. Appraisal: What Real Estate Investors need to know about Value
A client of mine got two valuations on the same 84-unit garden-style property within three weeks of each other. My broker opinion said $14.2 million.
A client of mine got two valuations on the same 84-unit garden-style property within three weeks of each other. My broker opinion said $14.2 million.
Knowledge is power when it comes to understanding and managing your taxes. Since property taxes are usually the largest cost on a real estate investment, it is in your best interest to understand how these values are established.
Fair market value is defined as the price at which a property would change hands between a willing buyer and willing seller, neither under duress, both with full knowledge of the property and market. But how is that number determined? And why should you care?