Pre-existing Damage ( FLA Of Course)

I have a short sale in the works. The house has pre-existing damage that the insurance company is supposed to fix. How do I CONTROL the insurance company in that they fix it or I get the check rather than the sellers? There is enough spread in the deal so it isn't a requirement, but it would sure sweeten the pot.

Comments(3)

  • JohnMichael3rd October, 2004

    This repair by the insurance company should be included in your purchase agreement, as some insurance policies may not transfer to the new property owner.

    When I have a concern with this type of issue my purchase is subject-said repairs being completed.
    [addsig]

  • captkirk4th October, 2004

    With the situation in FL, getting someone to do the repairs (roof). Contractors are backed up by months I know the work won't get done till I do it. How do I get the insurance to pay me rather than the existing owner?

  • JohnMichael9th October, 2004

    Captkirk,

    It all depends on how the policy is written. If it is transferable you may have a chance, but the fact remains that most insurance of this type are only obligated to the policyholder.
    [addsig]

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