Insuring A Foreclosure Property Obtained At Sale
Having difficulty finding underwriters or insurers for foreclosure properties purchased at courthouse sale. (Trying to avoid a big loss if a calamity occurs). In California, no one wants to insure for a short period or a vacant house.....unless you sell one of the children and pay the extortion. Any assistance would be appreciated.
Well, the Trustees Deed on Sale is insured by the title company they used when they opened on the foreclosure sale. I guess what you mean is fire and liability insurance.
Try California Fair Plan, that is their job. Of course a vacant property should never be vacant. I take one of my construction workers and move them in during fix up and subsequent sale. That way it is occupied and the gods of insurance smile upon you.
Best of luck Lucius
Thanks Lufos....I have used Cal Fair Plan before but they have declined to insure the property. The other quotes I got were horrendous.
Try your biggest local, discount places can't do it, we receive our fire through Zurich it is a one year policy. Don't go for a rental one unless you intend to rent twice as much as flip insurance. The liability policy will be separate for up as many houses as you need.