Market appraisals of real estate

These types of appraisals are performed in accordance with international valuation standards (IVS) which define market appraisal as the estimated amount at which an asset or liability should be exchanged on the date of appraisal, between a buyer and a willing seller in an arm’s length transaction, following appropriate marketing, and in which both parties have acted on the basis of sufficient information, prudently and free from duress.