cost to cure

cost to cure

The amount of money necessary to remedy something that is depressing the value of real property. If the cost to cure a parking lot filled with potholes is $12,000, but the current parking lot condition depresses the value of the property by $20,000, then the defect is said to be curable.

References in periodicals archive ?
consultant shall develop: project funding estimates, true cost estimates, appraisals, appraisal reviews, administrative offer summaries, cost to cure bids, and market analysis for property acquisitions, surpluses and sales.
2 million, and that there was no question that the cost to cure deferred maintenance problems can affect property value.
The cost to cure and correct that problem is far greater than if we had been allowed to provide some preventive measures as soon as we spotted roosting," explains Vance.
Focusing on larger parcels, uneconomic remnants, cost to cure, and severance damages, the course discusses the qualifications, roles, and responsibilities of the review appraiser from pre- to post-appraisal activities.
The following recent cases highlight the success some taxpayers have experienced in reducing their assessments based on cost to cure and stigma arising from environmental contamination:
The period that this would affect the property would be from the time the problem is identified (and a cost to cure established) until the re-construction has been completed.
DMB/SVP has completed its due diligence with respect to financial, environmental, and physical and structural matters and the parties have fixed the cost to cure certain physical defects in the properties being sold at $250,000.
The deal requires the companies to work for the county on pedestrian, bikeway, road and intersection upgrades, cost to cure design services, survey services, traffic engineering, ITS/ATMS engineering services and transportation planning.
The Vermont Supreme Court agreed that the trial court's finding that $10,000 was the actual cost to cure was supported by the record.
An expert witness's use of the cost to cure to determine consequential damages in an inverse condemnation case was not erroneous, according to the Court of Appeals of Georgia.
Typically, a series of experts is then hired to compile lists of defects and code violations, as well as an estimate of the cost to cure the defects.
The court concluded that deducting the cost to cure required by a governmental remediation order is the better approach to determining the value of a parcel when it is clear that, even by conservative estimates, the cost of remediation is greater than the value of the property if it were in a clean condition.