U
/u/rhforever
Guest
FTHB, I made an offer for a two level condo that had previous water damage. The seller’s agent shared that bathroom on the upper floor leaked, and I think it flooded that floor. Either way it damage the floor, and the ceiling and walls in a bedroom beneath it. That wall also shares the condo next door, but my agent didn’t mention any damage and I didn’t think to ask at the time.
The damage was fixed. I didn’t know when I toured the condo, but I couldn’t tell. It was vacant and looked professionally cleaned.
I told my agent that I would only make an offer as long as we got documents about the repairs and that it was done by a licensed contractor.
Is it true that this could also be an issue with home insurance? I don’t know yet if they filed a claim, but if they did, it would follow me with my new carrier right? And they could deny coverage.
And if they didn’t, I need to disclose it still. And either way my rate will be a lot higher right?
Thank you for any advice!
Edit: this is SoCal
submitted by /u/rhforever
[link] [comments]
Buying a condo with previous water damage. Impact on homeowners insurance?
Continue reading...
The damage was fixed. I didn’t know when I toured the condo, but I couldn’t tell. It was vacant and looked professionally cleaned.
I told my agent that I would only make an offer as long as we got documents about the repairs and that it was done by a licensed contractor.
Is it true that this could also be an issue with home insurance? I don’t know yet if they filed a claim, but if they did, it would follow me with my new carrier right? And they could deny coverage.
And if they didn’t, I need to disclose it still. And either way my rate will be a lot higher right?
Thank you for any advice!
Edit: this is SoCal
submitted by /u/rhforever
[link] [comments]
Buying a condo with previous water damage. Impact on homeowners insurance?
Continue reading...