LogFAQs > #972863683

fan357 posted...

Sorry for your loss. Sounds like your gonna make a fat stack tho.

Thanks, it was my father. He had esophageal cancer. This isn't the first time I've lost someone close to me, but it is the first time I have had to personally take care of all of their affairs and estate. It's especially difficult because I live in Nevada, and currently I'm in California trying to get everything handled.

CE_gonna_CE posted...

Where did the valuation come from, if you dont mind my asking? Ive never personally handled a case like this, but would imagine for IRS/tax purposes that there could be some leeway on what would be an acceptable source of record to determine FMV.

I mean, if Zillow Zestimate was showing a significantly higher FMV than what an alternative source was showing, for my records Id be going off of Zillow.

But yeah, I completely get not wanting to hold onto the property as a rental. Considering how much the market has shot up the past 2 years and what risk there is if it dropping more, selling would seem to be the most reasonable and lucrative option tbh

Zillow, realtor, redfin etc all value the house somewhere in the 400-440k range, but they were going off of what the house was valued for property tax purposes which was 280k