Hi, so based on the information provided I ended up with these numbers:
Originial cost of condo = $363,000, Initial Land Value = $75,000
75,000/363,000 = 21%
House Value = 79%
Given these values,
Sale price of Condo = $490,000
Asset Sales price = (490,000 x .790) = $387,000
Land Value = (490,000 x .21) = 102,900
Total = $490,000
Hopefully these are the accurate numbers. Thanks.
