I am looking for someone in both of my markets; Indianapolis, IN (46218), and Detroit, MI (48208) to provide yearly determinations of fair market value. I am not looking for actual appraisals. The custodian of my SDRA just needs a statement of fair market value from a disinterested party, such as a real-estate agent. These reports would be combined with reports from my bank to satisfy the federal government's rules on SDRAs. I would be hiring them to provide this service each year to report the value as of Dec 31st. I currently own 10 properties in Indianapolis under my SDRA and one in Detroit.
@Sandra PIrtle when I traded two properties for 9 via 1031 I just used the lowest number I could find. This helps you out on your 45 day list so you can list as many properties on there. That said I would use tax assessed.
@Lane Kawaoka The SDIRA custodian said that the valuations have to be made by a disinterested party. I can not value them myself.
@Sandra PIrtle , The county property appraiser should have market value boxes in the appraisers report. They're usually not accurate. But you're not looking for accurate simply to satisfy a reporting requirement.
Thanks @Dave Foster , That has already been ruled out by the custodian and my CPA.
PM me the address of your house in Detroit and I can comp it for you.
@Sandra PIrtle , That figures - even the govt doesn't trust the govt.
@Sandra PIrtle sounds like you need a new CPA
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