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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

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Property Value


Synonyms:assessed property value, home value, house value
Filed Under: financial-banking, real-estate
Tags: banking, realty
 

Definition of property value

property value
1. The worth or amount of money a real property is sold for depending on the price negotiated by a buyer and seller.

Related Terms and Acronyms:

  • act of god (AOG)   When used in insurance policies, an event caused by natural forces such as hail, rain, tornado, lightning, floods or earthquakes, which results in damage to property.
  • assessments   Special and local taxes imposed upon property which benefits from an improvement that has been made in the vicinity.
  • book value   The value of a property, item or company as a capital asset based on its cost plus any additions, subtracting depreciation.
  • current market value (CMV)   The estimated price determined by the recent sale of similar properties.
  • fair market value (FMV)   The highest price that a buyer would pay for a property and the lowest price a seller is willing to accept.
  • investment property   Property bought with the hope of it making money.
  • market value (MV)   Also known as "Fair Market Value." The estimated value of a property which a seller could expect to receive under normal conditions.
  • monetary value   A property's monetary value is its worth if sold at this moment in time.
  • real estate (RE)   A section of land including all the natural resources (above and below the surface) and any permanent buildings or structures located on it. Also known as "realty."
  • seller's market   Due to either low supply or high demand, the seller can expect to sell quickly with a high sale price.

More Related Terms and Acronyms

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