Why is this home un-insurable???

Why would an agent write that in the description?  I would have gotten a few quotes and posted them in the attachments along with needed repairs.  Sometimes agents shoot themselves in the foot.

Frank, that is always an issue with the HUD homes, that many first time buyers just do not understand the reasons WHY.

The HUD listing brokers just post the information from the HUD inspections and go from there.  With the rehab loans that would help with this situation just do not have the time frame to work the HUDs within th 45 day alloted for a closing.   It might be a reason we see more and more cash investors buying up a lot of the "uninsurable" listings.

Frank when that is on an MLS listing here in Connecticut what it generally means is that the property will not be able to get FHA will not insure the property, meaning that the loan can't be a FHA Loan because FHA will not issue Mortgage Insurance Premium (MIP) on the property.  It is probably also true that they will have a tough time getting Homeowner's Insurance as well because of the shape or the property, but here in CT it is usually referring to the MIP.

I would be willing to bet, that you would figure out a way to get insurance for these kinds of situations.

Frank - I just don't' understand an agent would state something like that, if repairs need to be made in order to get insurance that should be stated.

There are so many strange things that happen in the MLS! This would be enough for me to tell my client to pass!

Frank, that seems to be a HUD remark, perhaps the roof is in major disrepair or the HVAC is missing.  Sometimes the remark that insurance cannot be obtained is a hint for prospective buyers that financing may not be possible for this particular property.   Seems like an investor special that needs repairs to bring up to marketable and insurable condition.

I can't figure out why someone would put that into the remarks without first calling Frank Laisch. That's the way to discourage showings maybe?

I know less than a little about insurance BUT having said that, I do believe everything is insurable for the right price.  Why would anyone put uninsurable in the MLS.  Another stupid agent or another stupid banker........