Question: What happens if the Buyer’s insurance company wants a copy of the inspection report before they’ll confirm insurance coverage? Answer: It’s important to be aware that the relationship between …
Buyer Places Own Insurance
Question: Your buyers purchase a vacant home. On the revisit, the neighbor discloses that he was watching/taking care of the house, but that he’s no longer doing that. What is …
Listing Agent as Seller and Buyer Agent
As agents listing our own properties: 1) is there any reason we aren’t allowed to work with an SRP? Answerr2) To protect myself from E&O, should I list with a …
Fire Insurance: Where did the Money Go!
We looked at an example, the other day: Acquisition Purchase Price: $1,300,000.00 Mortgage: $800,000.00 Fire Insurance: $500,000.00 House Value $500,000.00 At the Time of the Fire with Co-insurance clause: included …
Why is that House Not Being Rebuilt?
There was a fire last May. The entire house was destroyed by fire. The Insurance Company paid to have the remainder leveled and the debris removed. That was 9 months …
Two Innocent Parties in Real Estate Fraud
That could be a problem! In fact, that’s how you lose your house. Let’s assume that Bob owns a house in the City and decides to rent it out for …
Should You Throw Out Old Insurance Policies?
In 2007, it was discovered that it was raining marble at the single best location for real estate in Canada, the intersection of King and Bay Streets in Toronto. Once …
No Insurance for the Garage
By-law Endorsement was needed Rob and Allison were sitting quietly in their family room one evening when all of a sudden they heard a crash, it was like a jet …
Trees as a Nuisance
If a tree falls in the forest, no one cares, except perhaps the termites. But, if your neighbour’s tree falls on your house, then there is a little problem. First …
Fire Damage: Should the Tenant Pay Twice?
An interesting issue arises in most commercial leases. The Landlord will arrange to obtain a policy of insurance to protect it against various risks and perils including damage by fire. …