The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

MARKET APPROACH Definition & Legal Meaning

Definition & Citations:

Arriving at an asset’s, instrument’s, or interest’s appraisal value using this method. Based on similar items’ prices and availability when sold within the last three to six months. Includes evaluating differences in quality, quantity, or size and making reasonable adjustments. Also known as market based approach or market comparison approach. Also refer to cost approach and income approach.

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