USA Determining FMV of Rental


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A home was converted from residence to rental. What method do you use to determine FMV as of the conversion date? Is there a website or other source where you can put in a date in the past to get the value? I have the purchase settlement statement but have to use the lesser of that or FMV. Thank you.
 
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BIG E

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A letter from a licensed, qualified real estate appraiser would do stating what the FMV on conversion date was.
 
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You can also have an appraisal done by your mortgager to assess whether you can remove PMI from your home, saving you money on the payment, then use that appraisal, sometimes free, as FMV
 

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