One would think that if the home that's listed has home insurance in place, the Buyer could get insurance as well, right? It might not be as simple as you might think and the rates could be very different.
Is the home going to require 'High-Risk' insurance?
Have you ever determined if your Buyer is able to get coverage?
In fact, what would you do if your Buyer couldn't get insurance that's required to complete the purchase?
The message is: complete your due diligence not only on the home, but the Buyer's ability to get insurance as well. Are there any red flags like outstanding or excessive claims in the past, poor credit scores, etc.?
Some links I've found that might be helpful or least open a discussion...
READ IT:
http://www.canada-insurance-source.com/Canada-Home-Insurance.html
http://www.canada-insurance-source.com/high-risk-home-insurance-knob-and-tube.html
http://www.ehow.com/info_7760063_homeowners-high-home-insurance-owner.html
WATCH IT:
http://www.dailymotion.com/video/xfrp4u_credit-scores-can-hike-home-insurance-rates_news
A Funny Video: http://www.metacafe.com/channels/chagol08/
Insurance: Don't Buy A Home Without It!
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