Estimating Exposure Time – Much Ado about Nothing
by Neill F. McDonald, MAI
145 Bull Street
Savannah, GA 31401
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Reasonable exposure time is a condition of market-value appraisals; exposure time is a standard and cannot be estimated. Reasonable exposure time merely means the seller in the hypothetical sale was assumed to have taken no action to achieve an earlier sale that resulted in a non-market-value price. For market-value appraisals, the mere assumption of a reasonable exposure time for the hypothetical sale is sufficient to satisfy the standard.
Please see related article titled Inconsistencies in Value Definitions found on this website.