Commissioner’S Adjusted Fair Market Value (CAFMV)

Commissioner’S Adjusted Fair Market Value (CAFMV)

The Commissioner's Adjusted Fair Market Value (CAFMV) is the estimate of the fair market value of the mortgaged Property, less adjustments, which may include without limitation, HUD's estimate of holding costs and resale costs that would be incurred if title to the mortgaged Property were conveyed to HUD. Common Elements Common Elements refer to the Condominium Project’s common areas and facilities including underlying land and buildings, driveways, parking areas, elevators, outside hallways, recreation and landscaped areas, and other elements described in the condominium declaration.