4 Bedrooms, 3 Bathrooms --- PRICED UNDER $170k! 1800+ Square Feet located on quiet cul-de-sac lot in Hensel Stone Woods!
MLS#: WR7042810 Click For More
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.
Craig Alexander Weichert Realtors 824 John Marshall Highway Front Royal, Winchester, Strasburg and Luray, VA. 22630 Cellular: 540-671-6082 Home Office: 540-933-6964 Fax: 540-301-0791 Voice Mail: 540-635-1300 ext. 131 Email: craigalexander@NUMBER1EXPERT.com Email: craig@mris.com
Born and raised in the Front Royal area, I began practicing real estate in 1990. I offer a wealth of information about the area, including Front Royal, Warren County, Winchester, Frederick County, Flint Hill, Rappahannock County, Strasburg, Shenandoah County and Luray, Page County. A top producer in the region with over 450 closed transactions since 1997, I provide the best service possible to my customers and clients and have been recognized as one of the Top 5% Realtors nationwide for the past 7 years.
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NUMBER1EXPERT in real estate for Front Royal, Winchester, Strasburg and Luray, Virginia
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