Flood/Storm Damage – FEMA, Building Permits, 50% of Structure’s Market Value?
CP Home Appraisals
OCTOBER 10, 2008
As many Greater Houston homeowners face the daunting task of rebuilding since the aftermath of Hurricane Ike they have found that building ordinances in their cities may require their houses to be elevated so many feet above sea level before they can obtain a building permit. This requirement is true IF the cost of repairs to their home is equal to or greater than 50% of the STRUCTURES market value prior to the storm.
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