Existing Use Value (EUV) refers to the price at which a property can be sold on the open market, assuming that it can only be used for its current use and that it is vacant.
A free and open market is a type of market where prices for goods and services are determined by the unrestricted interplay of supply and demand, as opposed to a controlled market where prices and supplies are regulated.
A public sale refers to a sale conducted through a notice to the public where members of the public are invited to bid. These sales are typically characterized by transparency and open competition among bidders.
