In this episode of the podcast we look at how to obtain the market value of a home when dealing with a substantially damaged or improved property.

1. Independent appraisals by professional appraisers

2. If the community prefers, a detailed estimate of the building’s ACV as a substitute for
market value.

3. Property appraisals used for tax assessment purposes can be used as a screening tool.

4. The value of the building taken from NFIP claims data can be used as a screening tool.

5. Qualified estimates based on the sound professional judgement made by the staff of
the local building department or local or state tax assessor’s office

6. A copy of the detailed signed contract from the policyholder’s contractor confirming a
start and completion date of the mitigation work to be performed. The contract must
show the contractor’s and policyholder’s (property owner’s) signatures

Contact Information:

• Website: FloodInsuranceGuru.com
• Email: [email protected]
• YouTube: Flood Insurance Guru Channel

Remember, knowledge is power, especially when it comes to protecting and maximizing your real estate investments.