When you’re purchasing property or helping a client purchase a property, obtaining insurance is a necessary part of the process. In fact, many lenders will only approve a loan if the proper insurance policies are already in place. This can be tricky when dealing with foreclosures, fixer-uppers, or properties with complicated histories. Having a reputable insurance agency on your side with experience insuring these types of properties can be extremely helpful. Read on to learn more.
Insuring the Hard-to-Insure
Don’t give up if you’re assisting in the buying process with a property that’s hard to insure. Many big-name insurance companies have policies in place that have little to no wiggle room when it comes to the approval process. Working with a local, family-owned agency like us makes all the difference. We will review every possible option to insure the property correctly.
There’s nothing wrong with investing in a real estate deal involving a property that needs a little TLC. Fixer-uppers can be a very wise investment; however, they can be hard to insure initially. Properties like this will need specialty insurance coverage. In fact, mortgage companies will most likely require it in their lending terms. Leigh Agency has an extensive network of resources and will be able to walk you through the insurance process for fixer-upper properties. We’ll make sure you get the right kind of policy to close on the deal.
Flood Zone Properties
If the property you’re purchasing is in a flood zone, you’ll need flood insurance as well as homeowner’s insurance for you or your client. Our agency is well versed in every flood insurance option, including FEMA-backed flood insurance policies. Finding the proper flood insurance can be a complicated process. That’s why it’s crucial to work with an insurance agency like us.
We can help you close on any real estate deal by ensuring you and/or your client have the proper insurance policies required by the lender. Give us a call today to start the process.