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Real Estate Tips
First Time Buyers >Insuring Your Home

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.

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Real Estate Trivia
Q 
Where is the world's largest bridge located?

A 
Lake Pontchartrain Causeway at New Orleans, Louisiana is the world's largest bridge. It is almost 24 miles long.
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Portland Home Experts, REALTOR®, real estate agent and broker for Portland, SE Portland and NE Portland, Oregon home listings, property and land for sale - NUMBER1EXPERT(tm)

Jennifer Venable and Shauna White
Portland Home Experts - John L Scott

1800 NW 167 Place
Suite #100
Beaverton, OR 97006
Jennifer Office: 503-645-7433 ext, 245
Jennifer's Cell: 503-889-6472
Shauna's Cell : 503-380-0746
Fax: 503-645-3049
Jennifer E-mail: jenniferv@johnlscott.com
Shauna E-mail: Shaunaw@johnlscott.com

We can't wait to work with you! Whatever you need, we can help! Whether you're a first-time homebuyer or seasoned investor you will find your experience working with us a pleasure! Are you moving from out of the area? Whatever we can do to to make your transition to the Portland area smoother, you let us know! We can do a ton to make your life easier! New Construction? We have a wonderful builder who does amazing custom construction as you can see if you peruse through some of our listings. Are you an Investor???? ....we have a unique niche in helping people who are credit challenged but mortgage capable to get into their first or sometimes subsequent home through a lease option program we specialize in. Are you looking for a home with instant equity??? ...sometimes we can match you with one of our investors that purchase pre-foreclosure homes! They will sell to you at much better than market value. If you would like to know about these homes in advance please contact us. We would love to work with you and help you attain your real estate dreams! Please send us an email or phone call, we look forward to meeting you! Jennifer & Shauna

Equal HousingREALTOR




    

    

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