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DEFINITION OF VALUE <br />Market Valuer The most probable price which a property should bring in a competitive and open <br />market raider all conditions requisite to a fair sale, the buyer and seller each acting prudently, and <br />knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition <br />is the consummation of a sale as of a specified date and the passing of title from seller to buyer <br />under conditions whereby: <br />(1) buyer and seller are typically motivated; <br />(2) both parties are well informed or well advised, and acting in what they consider their own best <br />interests; <br />(3) a reasonable time is allowed for exposure in the open market; <br />(4) payment is made in terms of cash in U.S. dollars or in terms of financial arrangements <br />comparable thereto; and <br />(5) the price represents the normal consideration for the property sold unaffected by special or <br />creative financing or sales concessions granted by anyone associated with the sale. <br />"As Is" Market Value2 The estimate of the market value of real property in its current physical <br />condition, use, and zoning as of the appraisal's effective date. <br />' OCC, 12 CFR, Part 34, Subpart C -Appraisals 34.42 Definitions (g). <br />z From the Interagency Appraisal and Evaluations Guidelines (December 2, 2010) and Federal <br />Registry Vol 75 No 237 / Friday, December 10, 2010 <br />