Home Owners Insurance

By
Real Estate Agent with Coldwell Banker Ackley Realty

Has this happened to anyone? You are with buyers for weeks sending listings and showing many,many homes, educating them on taxes and Insurance and low ball offers and find a few they love make an offer and go to contract only to find out after I researched on line and calling Insurance companies for a reasonable guote.Which I got.  Only to have the buyer bail out because they said taxes and Home Owners are to high? For a 5/3 2500+sf with pool I had quotes from 1400.00 to 2000.00 yr. Many at 1600.00 yr. I learned a lesson which I passed on--have the buyer do the homework for Home Owners Ins.!

Comments (3)

Paul Moye
Benchmark Realty - Franklin, TN
Broker, GRI, SRES

CLUE Comprehensive Loss Underwriters Exchange....This gives your client a snapshot on their insurability and also the property's insurability. The reports cost $25-$40 per individual person or property.

My client last year found a $25,000 clainm on the house he was making an offer on for damage that was not disclosed by the seller (ooops) this damage EFIS water damage was going to cost my client an additional $800 per year in H O Insurance....The sellers agreed to a lower price and a Moisture Warranty....that was $37.50 (TN Fee) well spent

May 24, 2007 01:24 AM
Ross Willingham
Tomson Real Estate - Stillwater, OK
Realtor Associate
Chalk up another great lesson learned on Active Rain.  I've never heard of CLUE.  Thanks for the heads up Paul!
May 24, 2007 01:27 AM
Michael Hutchins - Consumer Advocate, Chicago
Michael Hutchins Ent. - Chicago, IL
Hi Cindy.  I just wanted to welcome you to the Rain!  I hope you enjoy it here and keep blogging!
May 24, 2007 06:23 AM