Posts by Jeanette King
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Can't sleep David ... hope you are managing better than me! I guess the way ahead for you at the moment is to:
(a) see if the govt will accept a higher valuation than the 2007 GV/RV, something nearer to the price you actually paid,
(b) get the Tower assessors back out to see if they will write off the house (though there's no incentive for them to re-evaluate your house as unable to be repaired). Maybe commission an independent assessment to say that the house is a write-off? I mean, can it really be economically repaired - those gaps between the walls and floors, etc ...As mentioned in previous posts this is a carrot and stick approach. Option A is the carrot, and the unmentioned Option C (compulsory purchase by Govt at today's prices) is the stick. I imagine that if you are an uninsured property owner with a munted house you would want to be in the Red Zone so you would at least get some payout. For those in the Red Zone with replacement insurance you'd want to have a munted house. Those with indemnity only insurance will take Option A. I imagine that many of those caught in the middle, like David, may just take Option A because it's quicker, simpler and less hassle. I think that this is the essence of the govt "deal" with the insurers - it's to give the insurance companies less grief as most homeowners will take Option A as trying to pursue option B if you don't have a completely wrecked house, will be very difficult and time consuming.
By the way David, if the cost to repair your house is higher than the GV/RV of the house itself would the insurers pay that to you as cash or do they stipulate that that payment actually has to be spent on fixing the house up?
On a completely different note, any predictions on whether the compulsory acquisition of property will be used on business owners in the CBD?
Finally, there does not seem to have been any mention of all this in the mainstream media - the Press will hit my front lawn at 5am so will be interested to see ... actually just heard it arrive now (4.52am).
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Good old insurance companies ... they'll do anything to wangle out of their contractual responsibilities. All power to your loudhailer and I'm sure Tower'll live to regret trying to tangle with you. There must be lots of others in the same situation so I hope the collective yell gets heard asap. Love and hugs.
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Great article David. I presume (and hope) that this sort of information is in front of the necessary boffins. Hopefully also the promised remediation information is released soon, as the stress on your neighbourhood is obviously dreadful.