http://propertyblogs.co.nz/2009/12/08/more-on-leaky-homes/ Just another Propertyblogs.co.nz weblog Sat, 17 Jul 2010 09:19:07 +1200 http://wordpress.org/?v=2.8.4 hourly 1 http://propertyblogs.co.nz/2009/12/08/more-on-leaky-homes/comment-page-1/#comment-331 Peter Kavangh Wed, 03 Feb 2010 01:21:17 +0000 http://propertyblogs.co.nz/?p=309#comment-331 Just a note to concur with the statement above by Bruce Kohn, we have seen examples where it is effectively cheaper to start again rahter that repairing. We would be interested to know from people affected by such issues what thay have spent in costs of repairs and legal costs. We have seen in our valuation work a widely varying costs in both areas and trying to see if its possible to establish a rule of thumb on these items. The more figures we have in a data base the better. What we have also noted is that whilst the remedial works and arguments about liability are going on, the property is almost unsaleable and this can create an extra problem that is not quantifiable except perhaps by looking at the time value of the asset whilst its a none trabeable commodity. To our minds this should also be a cost borne by the liable party, but the practicality of proof of debt is likely to defeat such an arguement. Just a note to concur with the statement above by Bruce Kohn, we have seen examples where it is effectively cheaper to start again rahter that repairing. We would be interested to know from people affected by such issues what thay have spent in costs of repairs and legal costs. We have seen in our valuation work a widely varying costs in both areas and trying to see if its possible to establish a rule of thumb on these items. The more figures we have in a data base the better.
What we have also noted is that whilst the remedial works and arguments about liability are going on, the property is almost unsaleable and this can create an extra problem that is not quantifiable except perhaps by looking at the time value of the asset whilst its a none trabeable commodity. To our minds this should also be a cost borne by the liable party, but the practicality of proof of debt is likely to defeat such an arguement.

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