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Foreclosure Purchase Bank REO
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PostPosted: Tue Aug 18, 2009 6:37 pm   Post subject: Foreclosure Purchase Bank REO  
We have several potential clients who purchase homes at auction and through bank REO. One hangup is that sometimes the property is still occupied with a previous tenant or previous owner. Does anyone have a market for this risk?? Properties are located primarily in CA.
sdinsure4u
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PostPosted: Wed Aug 19, 2009 10:13 am   Post subject:   
Hi sdinsure4u,

This forum doesn't talk of business proposals, rather it talks of business insurance problems. Do you have one?
Quote:
Does anyone have a market for this risk??

Are you looking for an insurance agent to talk to you regarding this? If so, the agent forum belonging to this community could be a better place to share. Paleblueface
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PostPosted: Wed Aug 19, 2009 12:56 pm   Post subject:   
I'm an agent. Perhaps trying to see if anyone knows a GA or surplus line with a solution, or what the best way is to structure the risk. This has been a tough one for us to place. Our solution so far is to place with CA Fair Plan with a business liability behind it. But we have found the liability policies to be limited especially in regards to people evicted or in the process of being evicted in the last 90 days. Also, Fair Plan is limited in coverage.

There are agents who write this as tenant occupied through their regular appointments but we are not willing to do this. We want a straight up way to write the risk. Just inquiring - perhaps this isn't the right forum to ask???
sdinsure4u
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