Posted by Estates on November 11, 2012 at 14:50:53 from (96.53.210.246):
In Reply to: O/T Fair market value. posted by flying belgian on November 11, 2012 at 09:04:07:
My dads will said fair market value based on 2 independent appraisals from recognized real estate appraisers, not realtors. It was stated I had first choice to purchase and got lucky because the appraisers didn't recognize the great location and only based their appraisals on other acreages with mobile homes. The 2 appraisals were only $5000 apart. The land was 10 acres, 5 minutes away from a growing town with a fancy new golf course development and 15 minutes from a major city. I knew the land was worth more but went by the appraisers numbers. My buying it did get my siblings their money right away though instead of putting the property on the market and waiting who knows how long to sell it. Also no realtor fees.
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