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CITY OF DOVER, DELAWARE COUNCIL COMMITTEE OF THE WHOLE MEETING Tuesday, January 25, 2022, at 6:00 PM This meeting will be held virtually via WebExAGENDA Public comments are welcomed on any item and
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How to fill out fair market value opinion

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Gather all relevant information about the asset or property being valued.
02
Research recent sales of similar assets or properties in the same market.
03
Consider any unique characteristics or factors that may affect the value of the asset.
04
Use appropriate valuation methodologies such as the income approach, market approach, or cost approach.
05
Document your reasoning and analysis in a clear and comprehensive report.

Who needs fair market value opinion?

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Business owners looking to sell their assets or properties.
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Investors considering purchasing assets or properties.
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Legal professionals involved in estate planning, divorce proceedings, or litigation.
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Government agencies for tax assessment purposes.
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Financial institutions for loan collateral evaluation.
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Fair market value opinion is an estimation of the worth of an asset based on what a knowledgeable, willing, and unpressured buyer would likely pay to a knowledgeable, willing, and unpressured seller in the marketplace.
Individuals or entities that own assets and need to determine the value of those assets for various purposes such as taxation, financial reporting, or business transactions are required to file fair market value opinions.
To fill out a fair market value opinion, one must conduct thorough research on the current market conditions, gather relevant data about the asset being valued, utilize appropriate valuation methodologies, and provide a comprehensive report outlining the valuation process and conclusions.
The purpose of a fair market value opinion is to provide an accurate and unbiased assessment of the value of an asset to assist individuals or entities in making informed decisions related to that asset.
A fair market value opinion must include details about the asset being valued, the valuation methodologies used, any assumptions made during the valuation process, and the final conclusion regarding the estimated value of the asset.
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