is an opinion of the best price at which the sale of an interest in an asset would have been completed unconditionally for cash consideration on the date of valuationassuming: (a) a willing seller;(b) thatprior to the date of valuationthere had been a reasonable period (having regard to the nature of the asset and state of the market) for the proper marketing of the interestfor the agreement of price and terms and for the completion of the sale;(c) that the state of the marketlevel of values and other circumstances wereon any earlier assumed date of exchange of contractsthe same as on the date of valuation;(d) that no account is taken of any additional bid by a purchaser with a special interest; and(e) that both parties to the transaction had acted knowledgeablyprudently and without compulsion.

This definition is in context to Accounting. See more contextual defintions for Open Market Value (Omv).