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What is Estimated Market Value (EMV)?

April 26, 2017EMV estimated market mn nicollet nicollet county nicollet county minnesota value

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What is Estimated Market Value (EMV)?

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It is the most probable price, as of a specified date, in cash, or in terms equivalent to cash, or in other precisely revealed terms, for which the specified property rights should sell after a reasonable exposure in a competitive market under all conditions requisite to fair sale, with the buyer and seller each acting prudently, knowledgeably, and for self-interest, and assuming that neither is under undue duress. In summary, market value is the price that would tend to prevail under typical, normal, competitive open market conditions.