by therealt » Tue May 05, 2009 08:10 pm
Hello I am new here and hope this is the appropriate forum for my question.
My girlfriend's house suffered wind/hail damage to the roof. Her insurance company paid her to repair it which she did not do. Now, she wants to sell her house and move.
Obviously this needs to be disclosed when she puts the house up for sale, but will whoever buys the house have to pay a higher home owners insurace premium due to the roof not being repaired previously? Will a company even insure the house when they find that out?
Thanks for your time!
My girlfriend's house suffered wind/hail damage to the roof. Her insurance company paid her to repair it which she did not do. Now, she wants to sell her house and move.
Obviously this needs to be disclosed when she puts the house up for sale, but will whoever buys the house have to pay a higher home owners insurace premium due to the roof not being repaired previously? Will a company even insure the house when they find that out?
Thanks for your time!
Posted: Tue May 05, 2009 09:31 pm Post Subject:
The home owners carrier may want to see the home inspection report but I don't think it will matter if the roof has hail damage... they just won't provide coverage for that. I must say that I don't know for sure what information the new insurance carrier asks for. There is a better possiblity that they will run a CLUE report (I think it can be ran on an address) and see that a claim was paid for hail damage. Again, I'm not 100% sure.
Posted: Wed May 06, 2009 12:53 am Post Subject:
Yes she should disclose it, if she doesn't a good home inspector should catch the damage. What will most likely happen is the buyer will want consideration for the repairs that were not made. So if she was paid 5K they will want 5K or pretty close to that. If she is not willing to give consideration for the amount, I would assume the sale would fall through. The way home sales are going, I would think she would want to do anything that she could to sell it.
Posted: Wed May 06, 2009 03:12 pm Post Subject:
I think she can better rate if she get it repaired. Other wise buyer will definately ask for some consideration.
Home Inspector may forward her name in the Red List as she has already received payment
Posted: Thu May 07, 2009 01:14 pm Post Subject:
Hi therealt,
If things would go the way tcope has described, it would disclose the fact that a claim was met.
I personally feel that it would be a lot better if she repairs it. Don't you think that would even make it easier for her to sale the property?
Steven
Posted: Fri May 08, 2009 01:10 pm Post Subject:
Hi therealt,
I remember a disability settlement problem being shared at the forums..a lady was standing on a sloping roof and trying to drag a branch towards her. One of the passersby took a snap and presented it with the carrier. This gentleman was also enjoying coverage from the same carrier. This whole incident took place while her disability claim was being processed. I'm sure incidents like this one are rare but are eyeopeners for all of us.
Roddick
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