fair market value is the price at which property would be transferred from a willing seller to a willing buyer, each of whom has a reasonable knowledge of all pertinent facts concerning the property in question and similar properties on the market, and neither is under any compulsion to buy or sell. Most accountants consider fair market value to be slang for market value.
Barry Goldsmith
| APA | Barry Goldsmith. (2010). fair market value. Retrieved September 28, 2026, from http://smartdefine.org/fair_market_value/definitions/1153599 |
| Chicago | Barry Goldsmith. 2010. "fair market value" http://smartdefine.org/fair_market_value/definitions/1153599 (accessed September 28, 2026). |
| Harvard | Barry Goldsmith 2010, fair market value, Smart Define, viewed 28 September, 2026, <http://smartdefine.org/fair_market_value/definitions/1153599>. |
| MLA | Barry Goldsmith. "fair market value" 21 October 2010. Web. 28 September 2026. <http://smartdefine.org/fair_market_value/definitions/1153599> |