Still Need Insurance and Quit-Claim Help - Posted by Stew(NE)

Real Estate Investing
1

Posted by dewCO on July 28, 2001 at 15:59:12:

Not been down that insurance road before, but check the archives, seems like Zurich something or other is what you want for insurance.

Won’t he sign the release? Maybe a few bucks will help and a chauffered ride to the title company???

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Still Need Insurance and Quit-Claim Help - Posted by Stew(NE)

Posted by Stew(NE) on July 27, 2001 at 14:44:21:

. Allstate decided not to insure a house that I am purchasing because the railing in the front yard is not long enough and the roof needs work. The roof is not leaking it is just old and I plan on replacing it. The lender knows that (no problem), the appraiser knows that. I ask the insurance agent to write up some kind of exemption for the roof. He couldn’t do it. The inspector didn’t even go inside the house. Has anyone else ran in to this? Is there an Insurance company that will insure rehabs while you are getting it ready. Just the basic fire insurance, if nothing else. Help.

  1. The husband quit-claimed the property to the wife because the divorce decree told him too. She can now sell it. However, the title company will not give me title insurance unless the husband signs a release for his equity he is suppose to get. However, he is owed $8500 dollars in equity. He owes his spouse according to the divorce decree 2500 alimony, 3500 attorneys fee, and 2500 for his own attorney. (Whom he fired). That attorney filed a lien against the house for his attorneys fee aganinst the hsuband’s equity. Therefore, he won’t get any cash and hence no reason to sign a release.

I’ve got a total of 400 dollars wrapped up in this deal and after a rehab costs of 6 to 8K. I could make 10K to 12K.

Any words of wisdom or advice would be greatly appreciated.

Thanks in advance