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Posted by on May 19, 2008, 3:44 pm
I've got a contract to buy on a house; I'm a first-time homebuyer. I
wanted to get some homeowner's insurance quotes because I'll need it
to get a loan (and want it anyway of course). I went online, and the
insurance companies ask all these questions about when the last
upgrade was made to the wiring, plumbing, etc. (I do understand why
they'd want to know that stuff.)
Where is the best place to get that info? The home inspector? The
appraiser? Or the seller?
TIA,
S
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Posted by pipedown on May 19, 2008, 4:04 pm
> I've got a contract to buy on a house; I'm a first-time homebuyer. I
> wanted to get some homeowner's insurance quotes because I'll need it
> to get a loan (and want it anyway of course). I went online, and the
> insurance companies ask all these questions about when the last
> upgrade was made to the wiring, plumbing, etc. (I do understand why
> they'd want to know that stuff.)
>
> Where is the best place to get that info? The home inspector? The
> appraiser? Or the seller?
>
> TIA,
>
> S
First, look at the company you already get your car insurance from. If they
offer homeowners policies, you will probably get a multi-line discount that
will wash everyone else out of the competition. (my state farm discounts my
2 cars and home policy over $500 in total)
As for upgrades to wiring or plumbing, unless it can be proven with
invoices, its not very useful. Just assume general normal condition to get
and compare quotes and let the agent or company get all the real details as
they request them after you make your choice.
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Posted by on May 19, 2008, 4:13 pm
On May 19, 3:44=A0pm, stephen.fr...@verizon.net wrote:
> I've got a contract to buy on a house; I'm a first-time homebuyer. =A0I
> wanted to get some homeowner's insurance quotes because I'll need it
> to get a loan (and want it anyway of course). =A0I went online, and the
> insurance companies ask all these questions about when the last
> upgrade was made to the wiring, plumbing, etc. =A0(I do understand why
> they'd want to know that stuff.)
>
> Where is the best place to get that info? =A0The home inspector? =A0The
> appraiser? =A0Or the seller?
How about you grow a pair and CALL your local insurance agent? When I
bought my home, I went with Allstate because that's who holds my auto
insurance policy. I called the local agent's office and asked for a
homeowner's policy. They said, "Okay, here's a policy." They didn't
ask any complicated questions, and the price was quite reasonable.
Sometimes it pays to actually speak to a live human being instead of
trying to get everything online. At the very least, they will accept
"I don't know" as an answer, while a robot will just argue with you.
It's okay to talk to another human being. Really, it is. Most of them
won't bite unless you ask them to.
The only person that MIGHT know when upgrades were made is the seller.
MAYBE, because they may not have made any upgrades, but the previous
owner's did.
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Posted by hallerb@aol.com on May 19, 2008, 4:20 pm
On May 19, 3:44=EF=BF=BDpm, stephen.fr...@verizon.net wrote:
> I've got a contract to buy on a house; I'm a first-time homebuyer. =EF=BF=
=BDI
> wanted to get some homeowner's insurance quotes because I'll need it
> to get a loan (and want it anyway of course). =EF=BF=BDI went online, and =
the
> insurance companies ask all these questions about when the last
> upgrade was made to the wiring, plumbing, etc. =EF=BF=BD(I do understand w=
hy
> they'd want to know that stuff.)
>
> Where is the best place to get that info? =EF=BF=BDThe home inspector? =EF=
=BF=BDThe
> appraiser? =EF=BF=BDOr the seller?
>
> TIA,
>
> S
your about to learn insurance companies today are very risk adverse.
things likew fuse boxes, knob and tube wiring, galvanized water lines,
and a long list of others may make it hard to impossible to buy a new
policy.
a comprehensive home inspectors report should help. plus shop around
companies.
make certain must be able to obtain homeowners insurance is a
condition of sale for your protection.
even cracked sidewalks may cause hassles.
the good new is the necessary upgrades can likely be deducted from the
selling price.
after all if you cant get homeowners then no other buyer can either,
so the seller is screwed.
let us know how this works out and good luck on the home purchase
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Posted by sarge137 on May 19, 2008, 8:44 pm
On May 19, 1:44=A0pm, stephen.fr...@verizon.net wrote:
> I've got a contract to buy on a house; I'm a first-time homebuyer. =A0I
> wanted to get some homeowner's insurance quotes because I'll need it
> to get a loan (and want it anyway of course). =A0I went online, and the
> insurance companies ask all these questions about when the last
> upgrade was made to the wiring, plumbing, etc. =A0(I do understand why
> they'd want to know that stuff.)
>
> Where is the best place to get that info? =A0The home inspector? =A0The
> appraiser? =A0Or the seller?
>
> TIA,
>
> S
Inspector. If the home is more than 30-40 years old and the systems,
especially the wiring, are original, I'd personally make an upgrade a
condition of sale, or reduce my offer by the cost to do the upgrade.
Regards,
Sarge
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