Profile picture for rocmac56

I NEED TO FIND THE FAIR MARKET VALUE FOR MY MOM'S HOME ON THE DATE SHE DIED. HOW DO I FIND THAT?

I NEED TO FILE A TAX RETURN ON A TRUST THAT INCLUDED THE HOUSE AND THE HOUSE WAS JUST SOLD IN MAY 2012 AND MOMS PASSED ON MAY 30, 2011.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 19 2012 - Fernwood
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (5)

Profile picture for sunnyview
I am so sorry to hear about your loss. If you have an appraisal from 2011 or 2012, I would use that along with the recorded sales price to the family member. You could include the larger trend for the zip code to show any change in the market within that zip code or in Fernwood to show the movement from the time of death (or the appraisal date) to the sale.

If the court wants more than that, you can ask a local agent to do a quick CMA (comparative market analysis) including 3-4 houses that sold in the same time frame of your mothers death. I would not pay for another appraisal unless the court requests it.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 20 2012
Profile picture for rocmac56
Thank you for your quick response. I did not use a realtor, the house was sold to a family friend, so will ant realtor give me this information? May I use the appraisal I got last year?
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 20 2012
Profile picture for JohnWilt
Have the Realtor you used to sell your mom's place tell you what the average sale prices were (in Fernewood) for 2011 AND 2012.  Say it's 5% better for 2012.  Subtract 5% off of what you sold it for in 2012 should be close to what the value was a year earlier. Maybe compare first half year's data too. That's about the best you will be able to do.  Good Luck
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 19 2012
Get your Realtor to do a CMA (comparative market analysis) for you. Its free for them to do it for you.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 19 2012
contact a few agents to do a market analysis. They do not charge for it.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 19 2012
 
Related Questions
I NEED TO FIND THE FAIR MARKET VALUE FOR MY MOM'S HOME ON THE DATE SHE DIED. HOW DO I FIND THAT?
Profile picture for sunnyview
Latest answer by sunnyview
September 20 2012 | 5 answers
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 52 W 99th St, Chicago, IL Home For Sale
    52 W 99th St, Chicago, IL 60628

     For Sale: $19,900

    • Beds: 3
    • Sqft: 1027
    • Baths: 2.0
    • Lot: 3123
  2. 100 W 104th Pl, Chicago, IL Home For Sale
    100 W 104th Pl, Chicago, IL 60628

     For Sale: $5,900

    • Beds: 5
    • Sqft: 1014
    • Baths: 2.0
    • Lot: 3750
  3. 10207 S Perry Ave, Chicago, IL Home For Sale
    10207 S Perry Ave, Chicago, IL 60628

     For Sale: $7,000

    • Beds: 3
    • Sqft: 1142
    • Baths: 2.0
    • Lot: 3075