Insurance same day as theft

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Insurance same day as theft

Post by Debbie » Thu Feb 10, 2005 1:09 am

We did our first signing June 30, 2004, our modification date was Oct. 31, 2004. The home was finally delivered at the end of Nov. 2004. The home is still not ready to move in. No power still and the county has not done inspection. The home was broken into Jan. 18, 2005 and the fridge was dropped out the back french doors. It is dented and we have no ideal if it even works. We were then informed the company we bought the home from said they took a policy out on Jan. 18, 2005 and we have a $ 500.00 deductible. At first we were told we were not responsible until the final closing?

David Oxhandler

Re: Insurance same day as theft

Post by David Oxhandler » Thu Feb 10, 2005 6:52 am

Phone your finance company and tell them that unless the dealer gets the job done and replaces the fridge that your not going to accept the home or sign closing papers. Until you sign the final loan papers at closing the deal is NOT done and the dealer wont get paid by the bank.

Be sure it is all correct and to your satisfaction PRIOR to closing.


Re: Insurance same day as theft

Post by Mark » Thu Feb 10, 2005 10:01 am

I'd be absolutely sure.
It was made very clear to me that I HAD to have insurance BEFORE my home could be delivered to my site.

Unless you've got something that says who's liable for insuring the structures AND it's contents until closing, chances are it's you.

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