I’m supposed to report my parent’s second home value but how does one figure that out? And how do I prove that’s the right value in case of assets verification?
Without knowing the foreign country or its real estate practices and standards, it’s hard to provide any useful advice.
In the U.S., you might ask a real estate agent for a professional opinion as to fair market value, or, at the cost of several hundred dollars, pay for an appraisal. At the very least, you could use Zillow, which I have seen be wildly inaccurate, so that’s not the most reliable method.
Edited to add: with real estate, there is no “right value,” unless the property is on the market and a rationale buyer and a rationale seller agree on a price that both are ok with.
In many countries, you can get an appraiser to figure out the property’s value. Which country is this home in?
Vietnam
A Google search for “property appraiser in Vietnam” produces several results. Check them out.