I've always understood and explained why RC and appraisal value may be two totally separate numbers. Mostly the extreme is on old homes since their building material in today's dollars is much more expensive.
But I have a guy buying an 05' home for 400K and the RC for just about everyone is between 650k-770k. It's a regular home that's about 4025 sqft with builders grade.
Why would a home that was built not too long ago sell for so much then what it actually cost someone to build?
Source of insurance-forums.net
But I have a guy buying an 05' home for 400K and the RC for just about everyone is between 650k-770k. It's a regular home that's about 4025 sqft with builders grade.
Why would a home that was built not too long ago sell for so much then what it actually cost someone to build?
Comments
Post a Comment