Unable To Insure
I called today to get a binder on a house I am purchasing for a rehab. The insurance company I requested to insure the property refused to write the policy. Is this common in rehabs? They told me if I planed to rent the property they would insure the property. But not for a resale.
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Tell them you doplan to rent the property. Then sell it. You have the right to change your mind
You need an insurance company that will write a vacant policy or builders risk policy.
Brenda
have you checked with other ins. cos......kenmax
Ya, My loan officer has found a company to write the policy.
Thanks for everything,
Marty