BMurrayJR67 - The problem with refinancing is that you ARE required to provide whatever the lender is asking for, or else they won't refinance you. It is typical for a lender to ask for insurance for the interior of a condo or townhouse, perhaps 20% of their appraised value of the property, because the blanket policy of the association doesn't cover the interior. And since it is a new loan, new title insurance is required to protect the lender. Title insurance doesn't just cover disputes over who owns the property, it cover any unknown liens, lawsuits, etc., on the property.
Broker, Lightning Realty
Phone/Text: (813) 766-1501
Website: http://www.TampaHouse1.com... more
The HOA usually has a master insurance policy that covers the building to include your roof. Your responsibility is determined by what the master policy doesn't cover, usually the drywall and everything inside of that you have to insure. A typical condo policy has 30k building coverage which would cover interior walls, cabinets, flooring, sinks,etc. Don't forget your insurance also should cover a loss assessment or a building deductible should your home suffer a loss on the outside of the building. We write condo policies all the time.... more
One of my friends had her rental property go up in flames and fortunately no one was hurt. She hired a public adjuster and clearly she got very good advice and she got significantly more money than if she had tried to "go it alone". Not sure on a smaller claim but probably well worth the 10% you will pay.
This is who she used:
All the best,
Alma Rose Kee, PA
Future Home Realty
I am a realtor with the Toni Everett Company and my wife is an homeowners insurance agent with State Farm. We will be happy to help you through this process. Please email me at firstname.lastname@example.org.... more
I recently bought a Lennar home in New Tampa. Lennar paid the closing costs and helped me secure a 3.75% or 4.25% fixet term 30-year mortgage. I opted for 4.2% to avoid paying points. They respond to my phone calls and give me useful information to a newcomer like me. I dispute the statement from the agent who says to avoid Lennar.... more