Talk of The Villages Florida - View Single Post - How can an older home be sold, if one cannot obtain insurance?
Thread: How can an older home be sold, if one cannot obtain insurance?
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Old 08-06-2024, 04:26 PM
Pairadocs Pairadocs is offline
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Quote:
Originally Posted by Stu from NYC View Post
Houses are still selling. We are paying more for insurance for sure but we have it
And keep in mind, the "insurance thing" is not exclusive to Florida. Retired relatives in planned communities in Arkansas and in Tennessee are experiencing the same thing, mind blowing increases of 50 to 100% ! We did recently find out that there are at least two local real estate businesses who said they would NOT accept our home as a listing unless we FIRST replaced the roof. Although we have had a wind mitigation AND have had the roof inspected by two genuine INDEPENDENT inspectors (not sales people posing as "inspectors") and found the roof sound, no leaks, no missing shingles, etc. but it is a "Florida thing" that you purchase a new roof even if you have no need for it... so it is what it is. Many times people seem to believe just getting a new, but unneeded, roof will reduce the premiums. My brother in law recently found out their new roof INCREASED their premium by $487. The reason ? It's a NEW roof, so like a new car, it's "worth more" so the premium is raised. Got that "logic", or should I repeat it one more time ? LOL !