Buying & Selling
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Fair market value is defined as:
The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably and assuming the price is not affected by undue stimulus, implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby:
1. Buyer and seller are typically motivated
2. Both parties are well informed or well advised and acting in what they consider their best interest
3. A reasonable time is allowed for exposure in the open market
4. Payment is made in terms of cash in United States dollars or in terms of financial arrangements comparable thereto and
5. The price represents the normal consideration/or the property is sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale.
Jack E. Tosetti, has been in the business of selling, appraising and auctioning real estate in Nokomis and surrounding areas for 30+ years and is a member of the National Association of Realtors, the National Association of Real Estate Appraisers and Illinois State Auctioneers Association.
Jack has dealt with and sold a lot of property over the years, thus providing him with a great amount of knowledge and experience when dealing with and evaluating real estate from both the selling and buying side.
In addition Jack has:
* Closed on approx. 2,500 real estate transactions.
* Ran a large insurance agency (property and casualty) for over 12 years.
* Worked in construction for 15 years.
* Conducts auctions.
* Operated 4 offices for several years selling real estate and doing appraisal work from all four.