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Updated almost 10 years ago on . Most recent reply

Dan N.'s profile image
Dan N.'s profile image
Dan N.
  • Investor
  • from Austin, Texas
  • Member since Feb 5, 2013

User Stats

113
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30
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Dan N.'s profile image
Dan N.'s profile image
Dan N.
  • Investor
  • from Austin, Texas
  • Member since Feb 5, 2013
Dan N.
  • Investor
  • Austin, TX
30
Votes |
113
Posts
Real Estate Agent

Fair Market value when there are no comps?

Dan N.
  • Investor
  • Austin, TX
Posted

Hi All, 

A buddy of mine inherited a house in rural Missouri (Gilliam, MO 65330). Per a local realtor, there are no comps. It's a 10 acre property with a house built in 1855. Folks don't so much sell properties as inherit them. He currently has it listed and it has been on the market 70+ days. For tax purposes, he needs to determine the fair market value. Any ideas how to accomplish that? He has consulted Zillow, but I cautioned him that Zillow may not be so reliable. Redfin does not cover his market. 

Thanks in advance for any advice,

Dan

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