All Forum Posts by: Alpesh Patel

Yes, you are correct Jon but I wasn't aware of this requirement by the lender till the very end.  Is it possible to get  a (DP3)100% replacement cost policy while the property is under construction and vacant?  Do insurers provide it?  I was informed by my current agent that she has not seen this in her 20 years of being in this business.  

I am refinancing it to get the cash out.

Hi, I need help finding an insurance agent who will issue a 100% replacement cost home insurance policy.  I bought this property and then decided to renovate the whole house so it is currently under construction and obviously vacant.  Due to this, I can't get a policy issued that meets the lender's requirement.  Without this, the mortgage company will not move forward towards closing.  Can anyone help with recommendations or my options as to what I need to do so that I can pull the money out of this property?

Thanks you all for a quick response and your assistance!
Ankit Duggal - Thanks for the read!
Al Williamson - Lol. Agreed.

Hello Everyone, my name is Al (for short) and I am a new BP member from New Jersey Area. I plan on investing in real estate within NJ (Jersey City Heights Area) and parts of Florida and Nevada as many of you already are. I know this is general information, but it is a start. Currently, I am reading up blogs\forums and listening to radio to gain more knowledge. As I gain more experience, I will be fine tuning my goals. I am looking forward to getting to know you and learning ins and out about this business.