When reference is made to the value of a property, generally
fair market value is meant. Market price is what one might get
from the sale of the property in terms of money. Sometimes value
and price are the same, most particularly when there is no
compulsion to buy or sell. Under other circumstances, there
might be a wide difference between the market value of a
property and the actual sale price. The appraiser must be
careful to consider normal buyers and sellers attitudes for the
type of property appraised. The appraiser is estimating actual
market value not theoretical value. The immobility of real
estate makes it unique. Theoretically, there are no two parcels
exactly alike and therefore no means of making a total
comparison between properties. Circumstances of one buyer and
one seller affect the sale price of a specific property, whereas
the actions of many buyers and sellers of similar type
properties determine the going rate for the sale or exchange of
property on the open market. Among the various typ