A bit of theory

Member of O.E.A.Q.

Market value

The concept of value may seem somewhat simplistic. However, it is a complex concept that involves certain conditions.

To properly understand our work, it is essential to clearly understand the definition of market value.

Market value

It is the most probable bona fide price of the actual or presumed sale of a property, on a given date, in a free and open market subject to competition and meeting the following conditions:

• The parties are well informed or properly advised about the condition of the property, market conditions, and are reasonably well advised as to the most probable use of the property;
• The property has been offered for sale for a sufficient period of time, considering its nature, the significance of the price, and the economic situation;
• Payment is expressed in cash (Canadian dollars) or the equivalent of cash;
• The sale price must disregard any consideration unrelated to the property itself and must represent the true consideration, net of the impact of incentives, conditions, and favourable financing.