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Cost to Cure

Cost to Cure. A limited appraisal technique to reduce damage payments. The concept of damages . Vacant residential lot Zoning requires a minimum lot size of 9000 SF If lot reduced below minimum, no building permit will be issued. Before situation. Showing taking in situation 1.

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Cost to Cure

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  1. Cost to Cure A limited appraisal technique to reduce damage payments

  2. The concept of damages • Vacant residential lot • Zoning requires a minimum lot size of 9000 SF • If lot reduced below minimum, no building permit will be issued

  3. Before situation

  4. Showing taking in situation 1

  5. Showing taking in situation 2

  6. Illustration of cost to cure • Retail stores with dumpster screening enclosure • If enclosure is taken, it must be replaced or the property cannot be used as retail • Cure may consider construction of new enclosure • Cure may necessitate changes to parking lot space layout.

  7. Before situation

  8. Showing taking

  9. Cut and Re-face in cost to cure • Small take from rear of grocery store • Assumption is current use is highest and best use; and that “cure” offsets more damages than it cost of the cure.

  10. Title here

  11. Basic Rules • Cost to cure should be addressed in appraisal Scope of Work • Cure must be physically and economically prudent • Adjacent land cannot be considered in cure* • Cost to cure cannot exceed the diminution of value that would occur without the cure * State law varies

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