Many home buyers are concerned about whether they have an insurable interest in the property before the actual closing. The answer is an unqualified "yes". Although the buyer is not yet the recorded owner of the property, he or she has an insurable interest in the property as soon as the agreement of sale is executed by both the buyer and seller.
Should you get hazard insurance before the closing? It depends. Buyers do not usually insure a property until the title passes to them from the seller. However, it's wise to know what the agreement between you and the seller stipulates with regard to insurance.
Most agreements state that the property will be insured for a specific amount. This is very important to both parties. From the buyer's point of view, it is also critical that an adequate sum or full replacement value be stipulated. Watch out for agreements which read "as now insured". This is an all-too-common practice which usually indicates that the seller does not to want to increase inadequate insurance coverage.
The Lustnauer Team RE/MAX Premier Choice 1600 Fishinger Road Columbus, OH. 43221 Direct: 614-410-1816 Toll Free: 800-536-4424 Fax: 614-474-8108 Cell: 614-209-2337 Email: Milt@MiltSellsHomes.com
Milt carefully listens to his client's desires and applies his 30+ years of real estate experience, using the "Latest in Technology", until his clients goals are met.
Milt continually researches the latest marketing tools and has advanced designations as indicated by the logos below. Milt is a member of the prestigious Columbus Board Of Realtors $25 Million Dollar Club; he has a marketing team of four professionals and continues to be one of the top real estate agents in Columbus, Ohio.
Milt's prominent goal for his customers is for them to walk away with a smile on their faces and security in their real estate choices.
Call America's NUMBER1EXPERT™ Milt Lustnauer For The Professional Service You Deserve!
www.columbushomescentral.com
is brought to you by The Lustnauer Team, real estate for
Upper Arlington, Dublin, Columbus and Hilliard, Ohio
- NUMBER1EXPERT 
