Home seller insurance claims

By
Real Estate Broker/Owner with Dan Edward Phillips, Humboldt and Del Norte Counties, CA

When I am discussing the possibility of listing of a client's property, I lways inquire about prior insurance claims.  Sellers sometimes forget them and fail to disclose them on a Real Estate Transfer Disclosure Statement in California.

It becomes a problem if potential buyers check with the Building and Planning Department for permit history.  Most insurance claims involve some type of building permit. 

If the buyers discover evidence of an insurance clam that has not been disclosed, it may kill the deal! 

If you are considering placing your home on the market, spend some time reflecting on all the events that have occurred since you purchased the home.

It is much better to disclose a possible issue than neglect to disclose and become libel!

Comments (3)

David Artigliere
Reading, Pottstown, Norristown, Philadelphia - Collegeville, PA
ARTI Home Inspections, ASHI Certified Home Inspect

You are smart to get this often overlooked information upfront.  Dealing with a "surprise" down the road is only going to disappoint and discourage the parties involved. 

Hope 2012 is off to a good start for you!

Jan 09, 2012 06:44 AM
Dan Edward Phillips
Dan Edward Phillips, Humboldt and Del Norte Counties, CA - Eureka, CA
Humboldt and Del Norte Counties, CA

Hi David, thank you for your excellent comment and your support, they are appreciated.

Jan 09, 2012 08:02 PM
DeeDee Riley
Lyon Real Estate - El Dorado Hills CA - El Dorado Hills, CA
Realtor - El Dorado Hills & the Surrounding Areas

Boy Dan, is that the truth!  Thanks for the reminder on this!

Hope your 2012 is off to a good start!!!!

DeeDee

Jan 16, 2012 03:58 PM

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?