Open market value is redefined
Beaman, M.
Open market value is redefined - 1992 - CS Monthly : Rural Practice 1(10) July 1992, 5(1) .
Discusses the revisions to the RICS Red Book to incorporate the new definition of open market value with effect from 1 June 1992. The principle change in the definition being that the `reasonable period` for marketing the interest is now to be assumed to have taken place before the valuation date which is assumed to coincide with the date of completion of sale.
OPEN MARKET VALUE
REASONABLE PERIOD
RICS APPRAISAL AND VALUATION MANUAL
SAVP NO 2
VALUATION DATE
Open market value is redefined - 1992 - CS Monthly : Rural Practice 1(10) July 1992, 5(1) .
Discusses the revisions to the RICS Red Book to incorporate the new definition of open market value with effect from 1 June 1992. The principle change in the definition being that the `reasonable period` for marketing the interest is now to be assumed to have taken place before the valuation date which is assumed to coincide with the date of completion of sale.
OPEN MARKET VALUE
REASONABLE PERIOD
RICS APPRAISAL AND VALUATION MANUAL
SAVP NO 2
VALUATION DATE