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FAIR MARKET VALUE OR MARKET VALUE (MV):

 
This is the price for which the property could be sold by virtue of a private agreement between a voluntary vendor and an independent purchaser on the date of valuation if the asset were offered for sale on the market, the market conditions allow for the orderly disposal of the asset and there is a normal term available, taking into account the nature of the property, in which to negotiate the sale, provided that:
 
 
a) Between the vendor and the purchaser there is no prior connection, and that neither one has any personal or professional interest in the transaction apart from the reason for the agreement.
 
b) The public offer of acquisition involves both promotion adapted to the type of asset in question, and the absence of privileged information in either of the parties.
 
c) The price of the property is consistent with the aforementioned public offer of acquisition and that it reflects a reasonable estimate of the most probable price that would be obtained under the market conditions existing on the date of the valuation.
 
d) Taxes are not included in the price, nor are promotional expenses.
 


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