All Forum Posts by: Chichi Aguoji

Thanks Kevin, will give them a call today.

If you didn't sign an agreement with the realtor you can approach the seller to self-represent if you're up for it.  As long as you have a good lawyer to take the reins on the transaction.

If the seller needs to occupy the home post closing, you can offer some months free in exchange for a reduced price.

Otherwise, rely on the bank to not move forward at the reduced price and the mortgage contingency to kill the deal.

Hi, all,

I'm currently in contract to purchase a mixed-use 3-family in Brooklyn.  The lender is requesting an insurance quote and I'm having trouble securing a quote.  Some companies don't like the mix of residential and commercial.  Some companies don't like that I won't be operating the business.  Some companies don't like that the building will be owner occupied.  I've spoken to a few brokers and one us recommending I get surplus line insurance, I'm hesitant given that the state doesn't guarantee these surplus line insurance companies given that they're unlicensed.

Does anyone have any ideas around this?  I didn't anticipate securing insurance would be a roadblock especially if I'm willing to pay for the risk.

Thanks in advance,