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Dear Fellow Real Estate Agents: I Love Referrals!
Kate Bransfield wants to be your Real Estate Professional in the Pacific Palisades Area. Kate has relocated many individuals and families, and works with many Realtors on a referrals basis. You can trust Kate to handle your referral professionally. Let's connect! Call, email, or send Kate the form below!
Insurance >Hazard Insurance
Are you considering taking out hazard insurance on a property before you actually take title? It may be a good idea!
Even though you are not yet the owner of record, as the buyer, you have an insurable interest in a property the moment that you and the seller execute the sales agreement. As a matter of practice, however, buyers do not usually take out insurance until the papers change hands, and it should not be necessary if the agreement of sale is properly executed.
It is very important to both parties that the agreement states that the property will be insured for a specific amount. From the buyer's point of view, an adequate sum must be stipulated, and the agreement should not read "as now insured", which can indicate that the seller may not want to increase the insurance.
As a general rule, the amount of insurance on the buildings on a property should equal the sales price, less the value of the lot.
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| Q |
At the doors of what famous temple do you find yourself when you climb the 'Stairway to Heaven'?
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The Temple of Heaven in Beijing, China, attracts the local faithful and tourists. |
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