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Updated almost 3 years ago on . Most recent reply

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Jonn Vidal
  • Bel Air, CA
45
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Seller won't disclose replacement cost! Any way to find out?

Jonn Vidal
  • Bel Air, CA
Posted

Seller bought house decade ago. 

House burned down recently fully; lot cleared.

Is asking round same price now for just the lot, says insurance reimbursed for replacement, but hasn't answered  how much was the replacement cost, which is needed for the rebuild paperwork as planning dept only permit similar replacement.

What else should I require in the offer, or just walk?

Most Popular Reply

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Greg Scott
  • Rental Property Investor
  • SE Michigan
5,674
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Greg Scott
  • Rental Property Investor
  • SE Michigan
Replied

The seller is selling the lot.  What his insurance paid him is not something he should be expected to disclose to a buyer of a vacant lot.

I would add, that information is probably not relevant either.  An insurance claim would provide a poor estimate for cost to construct a new build.

  • Greg Scott
  • Loading replies...