Serious topic: What does FMV stand for and mean? (Fair Market Value)

[Jonathan Nelson]

I am a FL Wholesaler

I just recently partnered with a Note Buyer/ REO bulk contract holder.

They sent me 4 deals, with addresses and zip codes. They state that they are 42% FMV or Offer from the Buyer. However, they did not provide me with any comparables, photos, rehab costs (as the properties are vacant REO's) and just simply said show them to my partner buyers.

What does this mean exactly for me? How will the Buyer properly assess this situation?

help if you can, they have a of properties.