So here we are some 2 weeks later and we are still in limbo with the insurance company. Not that I have a problem with that because based on the letter sent to me, it would take up to two weeks for the appraiser to complete and file a report to the insurance company, who would then take some more time to review the report and mail me the check and report. I spoke with our agent on Friday and she confirmed she had the paperwork and check ready to go.
While I was hoping it would have arrived today (Monday), it didn’t so the waiting game continues. I am more curious about the appraiser’s report, as the monetary value of the check should more than cover the damage from the water/leaks.
So with an overall total price in mind I have started putting together a schedule of hardware that will be needed, as well as price for each item. One question that remains is what sort of value will be put on a square foot of carpet, as well as a square foot of wood flooring. Since the floor coverings we have are no longer available replacing ALL the floors though out the house is the only answer. That was taken into account by the appraiser.
Outside of having someone install new flooring, I will hopefully do a good portion of the work, such as ALL of the demolition associated with our remodel, guess you would call it that. That is the easiest part of a remodel anyway and takes the least amount of time. I will also pay someone to do the tape and texture of the walls and ceiling. This is not something I want to spend anytime with and we have a very good reference for this work.
As for additional work required, I am playing it by ear. If the wife has her way then I won’t be doing any work since it usually takes me a long time to get anything completed. Guess that is one of the joys of home ownership. If we can stretch our money we are looking at replacing the kitchen cabinets. Here is why. The wood floors extend under the cabinets, excluding the dishwasher and stove. Trying to remove the cabinets and replace these cheap cabinets would be a nightmare, if not damn near impossible to do. Of course we won’t get the insurance company to buy us new cabinets for the kitchen so we must stretch out money.
So until we get the remainder of the paperwork in hand we continue to wait. I was told not to even start removing anything in the house until we review the report and have the check processed. One of the things I was not pleased to hear was the fact the check will be a two-party check, made out to me and the mortgage company. It could be up to the bank to withhold a portion of the available funds. They also want a copy of the appraiser’s report.