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 Sheeple Home Market Guide: "Market value" means the amount that a seller "could expect" to obtain for property or goods sold on the open market. Make sure you understand that without the word "could" before "expect", it would change the whole meaning of the term; in fact many sellers and realtors seem to interpret "market value" that way. When a house sells, the published amount or comp value is not necessarily what the buyer paid for the house On top of this, the buyer could have (most likely if bought after 2001) overpaid for the house. Many buyers who fall into this category believe that what they paid is "market value", some will even proclaim that they are selling "below market value", which is kind of silly if you think about it. Why would someone want to sell something for less than they can actually get? If they "could expect" to get a certain amount for their house, why in hell would...
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