All is moving along with the repairs and furnishings are being selected and then I get a call from my homeowners' insurance broker, "Your homeowners insurance will be cancelled in 3 weeks."

This was not a happy moment for me, to be sure.  Because my purchase was constructed pre-1985, the insurance company demanded a 4-point inspection prior to taking on my property as their risk.  OK.  I paid the couple of hundred dollars and now have a nice report to satisfy their criteria.  They agree to cover me.  I write my check for the premium and put that out of my mind.

The insurance company now orders a physical inspection, without letting me know.  The inspector reports that my pool is empty and I am not in residence. 

This was all true.  My pool needed to be refinished and in order to do that, it needs to be empty.  I also had decided not to be in residence while work was being done.  Every day I'm there and so are my helpers; installers, plumbers.....

When we discussed the situation (my insurance broker and me) she indicated that she would contact the carrier and let them know my home was a foreclosure, required work, etc.  The response was, "Until we see pictures the work is done and the homeowner is in residence, the policy will be cancelled."  OK - I can deal with that.

What frustrates me is that these kinds of hiccups need not be alarming if the people who decide to conduct an inspection let the homeowner know the process IN ADVANCE!!!!  As a Realtor, I was happy to learn that this is not an uncommon practice; to inspect a home after it is underwritten.  I used to be part of CARCO Group which had a division which conducted physical damage inspections of vehicles for automotive insurance companies.  The same underlying principle exists;  what is actually being insured.

So - this is more information for you, my educated real estate Buyers.  No anxiety for this lesson.  I took the hit for you!

Still..... every day the house is becoming more a home and the view just melts away the little aggravations of every day life.  It has come with a price tag (which I had anticipated) and has been worth every penney!

Ready to make a real estate lifestyle dream come alive for you?  Please give me a call.  (239) 963-5561.