Mom passed in 2021. In 2022, I received proceeds from the sale of my Mom’s property. Mom lived in one of those “senior” housing communities in southeast Florida. Sale proceeds were distributed, equally, to her four children. I live in New York State.
Mom had made no capital improvements to the property since her occupancy in 1998.
At time of closing, I asked our sales agent for the sales price of “recently sold” similar sized properties – same number of bedrooms, same square footage - in my Mom’s housing community. I received a listing for ten properties. Interestingly, sales price for all the other recently sold apartments are within a $12,000 range of one another.
In your judgment, might that represent an acceptable source for me to use to derive FMV for my Mom’s apartment?
