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Opinion of value: Guidance in a sale or purchase

from Auto Laundry News

An opinion of value report (OVR) is an estimate of a commercial property’s current fair market value based upon an assessment of market and property conditions that affect its commercial value. Fair market value is defined as the price at which a business would change hands between a buyer and seller that are both willing and knowledgeable. An OVR is prepared when an owner is seriously considering the possibility of selling and, while not intended to be definitive, frequently provides that owner with guidance on when and how to proceed. more

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