The open market is an ideal concept which no one actual market can entirely match, but prices fetched at sales in circumstances which meet most of the ideal requirements are usually accepted in practice as approximating to the open market price.
An actual sale
The following are some key points where an actual sale is expected:
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•ÌýÌýÌýÌý Although a price obtained is not necessarily the market value, it will be taken into consideration and HMRC states that a District Valuer will have to show very good grounds for rejecting the market evidence where an actual sale price is known1
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•ÌýÌýÌýÌý The issue of an opinion on value will not be delayed because a property
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Web page updated on 17 Mar 2025 15:51