Posted by WilliamGA on November 28, 2000 at 22:19:28:
Gene,
Most all of the sellers I deal with couldn’t care less about an overage on Ins. or taxes. If this is a sticking point for them, just take the total taxes for the year on the property and divide it by 12 and multiply by the # of months left that they have paid.
I would use my own Ins. Co. I have my agent up to speed on the Trust and how to handle it and he does them all now. I used to try to keep the current agent on the properties I bought but I got tired of having to educate a new agent every time I bought another house.
Your agent should make the trust the loss payee (after the mgt holder of course) and should add the “Beneficial Interests as they appear” as additional insured.
Good Luck!
WilliamGA