Question by dk3000_2000: Do homeowners insurers construe “Fair Market Value” as the value of the property before the damage or after?
For example- The insurance company agrees to pay the Fair Market Value of your house that was destroyed by a hurricane. Is this the appraised value before the hurricane or after? This difference can be significant if the town was decimated by the hurricane and property values are now much lower. Please help!
Best answer:
Answer by MSAD
If you have a replacement cost value policy – they pay the cost to rebuild the home as it was (same finishes).
If you have an actual cash value policy, they calculate the cost to rebuild your home as it was and subtract depreciation.
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Question by confusedwifey: What is a desk appraisal from the bank?
I am trying to obtain a loan from the bank. They are doing a personal loan. The way the banker explained it to me, they will contact the tax office and obtain the assessors report and then do a “desk appraisal” by calling me and asking questions about improvements done to my home. I know the house was appraised at $ 35,500.00 in 1995 but major improvements have been made including additions.
Best answer:
Answer by Glenn S
The bank will not send out an appraiser, but instead look at the “comps” in the area and get a good idea of what the property is worth today.
They will look at the improvements that you have made to your property then compare your property to the other like properties that have sold in the area within the last six months. They will adjust what they think the value is up or down compared to those properties.
That is what Realtor’s do when they give a Comparative Price/Market Analysis to determine the price of what a property should be listed for.
Know better? Leave your own answer in the comments!
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Question by Marian S: Is it right to apply for a position one held previously and did well in that position?
Finance Manager stated “Admin. Srvc. Director abolished but you can transfer into Support Services.” Is this a commitment on behalf of the organization?
Assistant Director comment “As far as I am concern you still have a job, just submit a Letter of Interest. Is this a verbal contract on behalf of the organization?
Since I have not received a response (aftr 14 working days) to the Letter of Interest, Is this legal?
Is it legal to withhold corresponse not addressed to him?
Does the Human Resource Manager have a right to deny grievance if the request is forwarded to the Grievance Officers?
Best answer:
Answer by Mn
Most employment is “at will”.
It sounds to me like those were simply expressions of interest rather than contracts. However the law in different countries vary and you might want to talk to an attornay or a solicitor.
I would find something else. If you sue you may find it dificult to find another employer willing to risk hiring you.
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