Hi we lost everything in Palisades Fire, don’t have time to wait for rebuild, would like to purchase instead and take advantage of extended coverage (extra 25%.) I am confused by CA land value deduction code. If rebuild/buy insurance on dwelling was $1M, can we buy something for $1M b/c the land value can’t be deducted? Or must we buy something for $2M (round numbers to make a point, not actual) b/c we can’t include the value of the land in the purchase? Super hard to find anything comparable to Palisades elsewhere right now. Thanks.
Katherine Hay asked 3 weeks ago 1 Answers
Hi Katherine,
You definitely have options after the Palisades fire, including purchasing a home somewhere else. UP offers many resources on this particular subject including the land valuation piece, which you can review here:
We wish you success with your purchase process.
Please login or Register to submit your answer