Fair Market Value shall be defined as the price at which the property would change hands between a willing buyer and a willing seller, when the former is not under any compulsion to buy and the latter is not under any compulsion to sell, both parties having reasonable knowledge of relevant facts. Court decisions frequently state in addition that the hypothetical buyer and seller are assumed to be able, as well as willing, to trade and to be well informed about the property and concerning the market for such property.
Although the valuation is intended to estimate fair market value, we assume no responsibility for a seller’s or buyer’s inability to obtain a purchase contract at that price. In performing our valuation, we will be relying on the accuracy and reliability of the Company’s historical financial statements, projections, and/or budgets of future operations or other financial data of the Company. We will not audit, compile, or review those financial statements, projections, or other data. We will not express an opinion or any form of assurance on them.
Furthermore, no aspect or conclusion of the report is meant to be construed as legal advice, or any other type of professional advice or counsel (such as tax, accounting, or investment advice). We do not assume any liability, obligation, or accountability to any third party under any circumstances. The client agrees to hold the appraiser harmless in the event of a lawsuit initiated by any party other than the client.
