Fair market value shall be the price which would be agreed to by a willing and informed seller and buyer, taking into consideration but not limited to the following factors:
(1) The present use of the property and its value for that use.
(2) The highest and best reasonably available use of the property and its value for that use.
(3) The machinery, equipment and fixtures forming part of the real estate taken.
(4) Other factors as to which evidence may be offered as provided by Chapter 11 (relating to evidence).
Cross References. Section 703 is referred to in section 521 of this title.
Structure Pennsylvania Consolidated & Unconsolidated Statutes
Pennsylvania Consolidated & Unconsolidated Statutes
Chapter 7 - Just Compensation and Measure of Damages
Section 701 - Just compensation; other damages
Section 702 - Measure of damages
Section 703 - Fair market value
Section 704 - Effect of imminence of condemnation
Section 705 - Contiguous tracts and unity of use
Section 706 - Effect of condemnation use on after value
Section 707 - Removal of machinery, equipment or fixtures
Section 708 - Expenses incidental to transfer of title
Section 709 - Condemnee's costs where no declaration of taking filed
Section 710 - Limited reimbursement of appraisal, attorney and engineering fees
Section 711 - Payment on account of increased mortgage costs
Section 712 - Loss of rentals because of imminence of condemnation
Section 713 - Delay compensation
Section 714 - Consequential damages
Section 715 - Damages for vacation of roads
Section 716 - Attempted avoidance of monetary just compensation