The Franich Team is one of The Top Selling Real Estate Experts™
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First Time Buyer
Thanks for working with us as firt-time buyers to get us a favorable interest rate, and thanks for pointing out the pros and cons of each home you emailed to us. You encouraged us to make two offers at the same time (which you said we could do as long as disclosed this to the sellers), which resulted in us finding our perfect place with no counteroffer. The HOT seller's market put us in control and saved thousands in closing costs, especially with your agressive commission structure.
Ms. L. Schmid , Home Buyer
Danville, Calfiornia
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Real Estate Tips
First Time Buyers >Insuring Your Home
Many home buyers are concerned about whether they have an insurable interest in the property before the actual closing. The answer is an unqualified "yes". Although the buyer is not yet the recorded owner of the property, he or she has an insurable interest in the property as soon as the agreement of sale is executed by both the buyer and seller.
Should you get hazard insurance before the closing? It depends. Buyers do not usually insure a property until the title passes to them from the seller. However, it's wise to know what the agreement between you and the seller stipulates with regard to insurance.
Most agreements state that the property will be insured for a specific amount. This is very important to both parties. From the buyer's point of view, it is also critical that an adequate sum or full replacement value be stipulated. Watch out for agreements which read "as now insured". This is an all-too-common practice which usually indicates that the seller does not to want to increase inadequate insurance coverage.
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Real Estate Trivia
| Q |
What was the greatest land grant ever given to an English subject?
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| A |
William Penn arrived in October, 1682, to take over his enormous grant that later became Pennsylvania and Delaware.
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