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.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Physical depreciation = Structure Actual Age/Structure Physical Life x Replacement Cost New + Cost to Cure CMI
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.
7.5 Cost to Cure", The Bluebook Cost Guide", and the web based Appraiser Assisted Residential Cost Analysis (AARCA) software, InsureBASE", and feel that the quality of the products would benefit all NAIFA members.
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.
The court held that testimony of the leasing agent indicated that $700,000 was a low estimate, that the repairs would likely cost $1.2 million, and that there was no question that the cost to cure deferred maintenance problems can affect property value.
It is recommended that once a property is found to be contaminated, an analysis should be made if the "cost to cure" as deducted from the market value proves an over-valuation by the assessor.
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.