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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?


To: carranza2 who wrote (92742)10/24/2007 12:07:39 AM
From: Wyätt GwyönRead Replies (2) | Respond to of 306849
 
OK, what you say makes sense as far as the payoff goes... but when people come up with a figure to insure, it is based on the replacement cost of the structure, not the land, correct? so if the house costs $800K but the estimated rebuilding cost is only $200K (probably quite generous for a 1200sf house), won't they typically only insure it for $200K? that is the way it works in TX, as far as i know...