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  • FIRST POST
    i240 Dan
    Reinstatement Cost
    • #1
    • 30th Jan 09, 5:05 PM
    Reinstatement Cost 30th Jan 09 at 5:05 PM
    I am in the process of buying a house and have a quiry with the reinstatment cost for the property estimated in the Valuation Report.

    We are purchasing the property for 155,000.

    It is a 3 bed, stone, slate roofed, end terrace with a brick built garage.

    The valuation states:

    Calsulated using BCIS Guide to house rebuilding costs.

    Main Building 230,000
    Garage 20,000

    Thats a rebuild cost of 250,000 for a house worth 155,000.

    Is this correct and is there any way I can check for myself. I cannot understand why it would cost so much to reinstate.

    I can only think that the Main Building cost should be 130, not 230. Even then 150,000 would still be nearly the full value of the property.

    Thanks

    Daniel
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