The contract mentions something about condemnation

Sep 13, 2019
3:52:44pm

Iman23 All-American

which, I think is talking about eminent domain, in that context.

The contract specifically notes that risk of fire and other acts of God is on the seller up until closing.

Contract is silent on how insurance proceeds should be handled.

This message has been modified

Originally posted on Sep 13, 2019 at 3:52:44pm

Message modified by Iman23 on Sep 13, 2019 at 3:53:36pm

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Iman23

Bio page: Iman23
Joined: Jan 18, 2008
Last login: May 4, 2024
Total posts: 42,599 (2,721 FO)

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Messages

Author

Time

Fire at a rental property. What am I entitled to from insurance company?

Iman23

9/13/19 1:34pm

1. get a copy of your homeowners landlord policy. 2. read it

jwf

9/13/19 1:35pm

Do you have a loan on the property? Most homeowners carriers include

jwf

9/18/19 4:38pm

It is pretty straightforward. They will look at the coverage on the house and

Baron

9/13/19 1:36pm

But the value to the new buyer is most likely the dirt. So the value to the

Iman23

9/13/19 1:40pm

What did you insure the dirt or the home? The home. You have insurance to cover

Baron

9/13/19 1:43pm

So, you don't think I need to disclose the sale? It's damage to more than

Iman23

9/13/19 1:52pm

I am not saying that you can avoid the disclose of the sell or that you should.

Baron

9/13/19 1:57pm

The contract mentions something about condemnation

Iman23

9/13/19 3:52pm

I'd worry about this getting hung up for insurance fraud

SD_UTE

9/13/19 1:40pm

reminds me of a BYU story.

v1k0u6

9/13/19 1:45pm

here is the news article

v1k0u6

9/13/19 1:47pm

Hopefully your coverage is enough. A lot of people haven’t raised there

Cobra Venom

9/13/19 3:55pm

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