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That's not below market value, that's below the bank's valuation. The market (ie: you) paid what you thought it was worth - ie: "market value".

"Below market value" is meaningless. Whatever a property sells for is (by definition) it's true value to the market in which it was advertised. Maybe the market was small, or it was only on the market for a short period, but property always sells for the "market value". The only exception...