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.

Comments(4)

  • maw22nd July, 2004

    Tell them you doplan to rent the property. Then sell it. You have the right to change your mind

  • bgrossnickle22nd July, 2004

    You need an insurance company that will write a vacant policy or builders risk policy.

    Brenda

  • kenmax22nd July, 2004

    have you checked with other ins. cos......kenmax

  • gfpd31122nd July, 2004

    Ya, My loan officer has found a company to write the policy.

    Thanks for everything,

    Marty

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