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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 
Where would you go to enjoy a soak in the world's largest bathtub?

A 
The Spa Resort Hawaiians in Fukushima, Japan, offers an outdoor soaking tub that occupies a total area of 10,760 square feet and can accommodate 1,500 persons at one time.
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Erik Hoferer & Associates, REALTOR®, real estate agent and broker for Wilmington, Newark, Middletown, Kennett Square and Chadds Ford, Delaware home listings, property and land for sale - NUMBER1EXPERT

Erik Hoferer & Associates
Keller Williams Realty

1521 Concord Pike Suite 102
Wilmington, DE 19803
302-299-1111
Fax: 302-299-1197
ErikHoferer@NUMBER1EXPERT.com

Erik Hoferer is a licensed Realtor in Delaware and Pennsylvania and his experience will save you time and money. Selling Real Estate is all Erik does. He loves it, and his passion positively impacts each and every one of his clients. Put Erik and his team at Erik Hoferer & Associates to work for you and see why Erik has been the #1 selling agent at Keller Williams in Delaware since 2008! Erik specializes in New Castle County, Delaware and Southern Chester County, Pennsylvania and he would love to help you with all of your Real Estate needs.

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