Definition of open-market value
Definition of open-market value
- 1991
- Estates Times (1118) 1 November 1991, 2(1) .
The RICS has put forward an amendment to the definition of open-market value in the Red Book, which would make clear that valuers should assume that negotiations and legal formalities had been completed before the date of valuation.
AMENDMENT
DEFINITION
OPEN-MARKET VALUE
RICS APPRAISAL AND VALUATION MANUAL
RICS STATEMENTS OF ASSET VALUATION AND GUIDANCE NOTES
RICS
Valuation
The RICS has put forward an amendment to the definition of open-market value in the Red Book, which would make clear that valuers should assume that negotiations and legal formalities had been completed before the date of valuation.
AMENDMENT
DEFINITION
OPEN-MARKET VALUE
RICS APPRAISAL AND VALUATION MANUAL
RICS STATEMENTS OF ASSET VALUATION AND GUIDANCE NOTES
RICS
Valuation