Willing buyer
RICS Insights, Valuation and sale price, March 2019 Edition suggests that:
- A willing buyer as: ‘Someone who is motivated but not compelled to buy. The buyer is neither over-eager nor determined to buy at any price.’
- A willing seller is: ‘Neither an over-eager nor a forced seller prepared to sell at any price, nor one prepared to hold out for a price not considered reasonable in the current market.’
The International Valuation Standards 2017 suggests that:
- ‘.... a willing buyer refers to one who is motivated, but not compelled to buy. This buyer is neither over eager nor determined to buy at any price. This buyer is also one who purchases in accordance with the realities of the current market and with current market expectations, rather than in relation to an imaginary or hypothetical market that cannot be demonstrated or anticipated to exist.’
- ‘.... a willing seller is neither an over eager nor a forced seller prepared to sell at any price, nor one prepared to hold out for a price not considered reasonable in the current market. The willing seller is motivated to sell the asset at market terms for the best price attainable in the open market after proper marketing, whatever that price may be.’
[edit] Related articles on Designing Buildings Wiki
Featured articles and news
Celebrating architecture's eloquent champions.
Unusual perspectives on 1960s’ thinking.
AI and the challenges to intellectual property
The legal landscape of adopting AI now and in the future.
Worrying landscape for Welsh construction SMEs revealed.
In recent risk factor analysis report completed by CIOB.
Construction Sport survey highlights risks of dehydration
Supporting construction workers to avoid dangers.
Can your business afford to ignore mental well-being?
£70 - 100 billion annually in UK construction sector.
Mental health in the construction industry
World Mental Health Day 10 October.
Construction awards provide relief in wake of ISG collapse
Spike in major infrastructure awards, housing up but short of targets, are ISG collapse impacts yet to come.
Biodiversity net gain with related updates and terms
Only 0.5% of applications subject to BNG in the context significant proposed changes to planning.
As political power has shifted from blue to red
Has planning now moved from brown to green?
The role of construction in tackling the biodiversity crisis
New CIOB Nature of Building digital series available now.
The Nature Towns and Cities initiative
Grants of up to 1 million for local councils and partners.
The continued ISG fall out October updates
Where to look for answers to frequently asked questions.
Building safety remediation programme for Wales
With 2024 October progress updates.
In major support package for small businesses.
Conservation and transformation
Reading Ruskin’s cultural heritage. Book review.