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Since these figures do not add up to the purchase price, something is wrong. Either the land or the house or both have wrong values. You can contact your real estate agent for help or if you know the land value amount is correct, subtract that amount out and leave the balance as the house value. If you are using your taxing agent as a reference, they are not always correct. The property value on my home as judged by my county and the FMV are very, very different.
Since these figures do not add up to the purchase price, something is wrong. Either the land or the house or both have wrong values. You can contact your real estate agent for help or if you know the land value amount is correct, subtract that amount out and leave the balance as the house value. If you are using your taxing agent as a reference, they are not always correct. The property value on my home as judged by my county and the FMV are very, very different.
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