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Home > Law > Real Estate Law   »   no property insurance and flip

 
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Old May 1, 2007, 05:52 PM
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Fr_Chuck
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Join Date: Nov 2005
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no property insurance and flip

This is more of a discussion or warning althoug everyone can give thier opinons of how to handle simular issues.

I bought some of those tax properties, we talk about on here, and guess what, my insurance broker and the other full line agent in town will not insure my property even for liability because of the "dangers" on the property. So now I am legally liable for the property, but can not insure it, untill I clear the lots and tear down or completely redo the house.

So remember when you buy those fix it up and flip homes there are often insurance issues ** I guess a good reason to do that LLC that some of you have been advising over the last few years.

Any one got any good suggestions of companies that will cover "high risk" property

And some good news, one of my tax properties previous bought got a contract to sell today,

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