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LunarEclipse
Enlil's Official Story


Registered: 10/31/04
Posts: 21,407
Loc: Building 7
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Replacement Costs?
#23375054 - 06/23/16 08:01 PM (7 years, 7 months ago) |
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As an investor, particularly in Real Estate, we need to consider just what is the replacement cost? This should not be confused with insurance. The replacement cost starts literally from the ground up. What is the cost of the land? How much to add power, water, sewer?
Anyway I've got an offer in on a place that people don't understand this concept, and a realtor to boot. We'll see what they counter, I know it's worth at least their asking price, so KATCHING, as they say.
-------------------- Anxiety is what you make it.
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LunarEclipse
Enlil's Official Story


Registered: 10/31/04
Posts: 21,407
Loc: Building 7
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Quote:
LunarEclipse said: As an investor, particularly in Real Estate, we need to consider just what is the replacement cost? This should not be confused with insurance. The replacement cost starts literally from the ground up. What is the cost of the land? How much to add power, water, sewer?
Anyway I've got an offer in on a place that people don't understand this concept, and a realtor to boot. We'll see what they counter, I know it's worth at least their asking price, so KATCHING, as they say.
OK it's a done deal, I like it. 9500 under asking price.
Sorry brokesters cash is king.
Cash is fucking king.
It's Good To Be King
-------------------- Anxiety is what you make it.
Edited by LunarEclipse (06/25/16 05:46 PM)
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LogicaL Chaos
Ascension Energy & Alien UFOs




Registered: 05/12/07
Posts: 69,363
Loc: The Inexpressible...
Last seen: 16 minutes
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Did u find out what "replacement costs" are for?
Sounds kinda like a "rehab loan" which is used to fix any damage the house has that needs to be fixed in order to sell the house.
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LunarEclipse
Enlil's Official Story


Registered: 10/31/04
Posts: 21,407
Loc: Building 7
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Quote:
LogicaL Chaos said: Did u find out what "replacement costs" are for?
Sounds kinda like a "rehab loan" which is used to fix any damage the house has that needs to be fixed in order to sell the house.
Actually, by replacement costs I mean what would it cost to recreate the current structure(s). So, starting with land cost, then excavating, then adding water, then adding sewer/septic, then adding electric, etc. In other words, what's the cost of being ready to build? Then the cost of the structure to be built, the building permits? This is replacement cost. From that cost, one needs to subtract depreciation. This will arrive at some kind of reasonable valuation, or be completely off the mark, one way or the other.
It has zero relationship to a rehab loan, although if you want to comment on such and why you thought that, go for it.
-------------------- Anxiety is what you make it.
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LogicaL Chaos
Ascension Energy & Alien UFOs




Registered: 05/12/07
Posts: 69,363
Loc: The Inexpressible...
Last seen: 16 minutes
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That real estate jargon is confusing!
Sounds like "replacement costs" means putting in services on raw, undeveloped land, why they would use the term "replacement" is beyond me 
And i made the comment of rehab loan, soley on the definition of the words "replacement" since a rehab loan replaces/restores existing structures and services to a working ostate again.
Not sure about replacement costs and permits, but i know it costs some money, and can get spendy if u live in a rurual area where electric, water and sewer access may be difficult.
If u want "replacement costs" for new structures/ultility services, get some bids from electrical and plumbing contractors for a rough idea of what it costs.
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