Fair market value is the price a property would reasonably sell for on the open market, assuming both the buyer and seller are informed, willing to participate, and acting without undue pressure.
Market value is an important consideration in real estate transactions, helping buyers and sellers understand what a property is worth under current market conditions. In co-ownership, fair market value can also help determine the proportional value of each owner's interest. It may be considered when evaluating an investment, calculating equity, obtaining insurance, or preparing for a potential resale. Independent appraisals are one method used to help establish a property's fair market value.
For GoForth owners, understanding a property's market value is an important part of evaluating their real estate investment over time. Each owner holds a 1/4 membership interest in the LLC that owns the property. When an owner is ready to sell their interest, GoForth's Exit Guarantee provides a structured resale process, helping facilitate the transition to a new owner.