All Topics / Help Needed! / property insurance

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  • Profile photo of waynemcintoshwaynemcintosh
    Member
    @waynemcintosh
    Join Date: 2005
    Post Count: 4
    August 5, 2006 - 12:46 am

    Can anyone tell me if house insurance is required by the purchaser at the time of contract exchange or from the settlement date.

    Thanks in advance

    Profile photo of ShwingShwing
    Participant
    @shwing
    Join Date: 2005
    Post Count: 219
    August 6, 2006 - 2:26 am

    You have a financial interest in the property as soon as both buyer and seller have there signature on the contract. Therefore you should take out a cover note at that time. Many people make the mistake of waiting until settlement.

    Mal

    Getting out of your comfort zone, can help you become comfortable

    Profile photo of ArtaudArtaud
    Participant
    @artaud
    Join Date: 2006
    Post Count: 97
    August 6, 2006 - 3:59 am

    I second that. Get insurance at or prior to Exchange.

    Art

    ‘Great spirits have always encountered violent opposition from mediocre minds.’ – Albert Einstein

Viewing 3 posts - 1 through 3 (of 3 total)

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