All Forum Posts by: Sarp Ka

I'm looking for an insurance agent. Currently using Citizens for the house. I'm looking for a responsible agent when I can ring the agent I can find someone to talk to and also an agent that responds back my emails promptly with my questions being answered.

Would prefer if the agent is in Florida.

Hello there,

I have bought a duplex worth $665k; the previous owner told me she's paying $3500 in total for Citizens.

I have went through an agent and they told me initially it'll cost about $4000 a year. Which was fine.

Later on I was sent a letter stating they are cancelling my insurance policy and I should contact my agent. Turns out they want to have separate policy for the smaller unit.

This is a deattached duplex. Smaller unit is 450 sqft; larger one is 1000sqft. They do not have a different door number; in fact small one doesn't even have its own address. It only has separate electricity and internet line; shares water with the main one.

Now the agent/citizens are saying this:


The new policy for the small unit will be $3,158 a year for a coverage of $88,700

For the big unit coverage amount to $177,900 premium for this dwelling is 4,136.00

So the total of $7300; which seems insane for these coverage amounts!

Is my agent not doing something right, or is there an issue with Citizens? I haven't heard from people that for duplex you'd require 2 policies.

PS: This is in a no flood zone.

I also personally think the premium for the small unit and for how much it covers is ridiculously high.

I have checked it on county's website it's not public. So the title company or lien company isn't really lying.

The reason why it's hidden is because the owner is some kind of a government officer. Apparently they have this right to keep things off record.

Anyhow, i don't believe this is something i should be paying. We've already expanded the contract but there's no statement about who is responsible for the loan extras. I'm worried mostly about losing my 10% 

 The reason is because seller has some privacy and records are not visible on county's systems. So lien company cannot access. Seller has tried removing but throughout the process there's been issues with county and also forms they're filling.

I ve told my agent initially whether seller can pay for it but my agent thinks seller would just cancel the contract. I believe this is something that seller should have taken care of before even listing the property.

i am personally down $2-3k for all the appraisal + inspection + survey. I don't want to lose this money but at this point if the seller is unable to remove this privacy thing in a timely way then I'm basically paying a lot of money.

Hello there,

I've been under contract and originally closing date was 45 days. Unfortunately seller's lien has some issues and this is keep getting delayed. The contract has passed all the contingencies that I've put (inspection + loan). So there's nothing on my side. This property is in FL so I had to put 10% down for earnest money.

The problem here is now, due to mortgage rates increasing, the lock on the offer has been expired. And the lender is charging me per day to keep the interest rate. This is costing me significant money.

My question is, how do I proceed in this case. Can I cancel, if the property cannot be closed by the last addendum date? If so, would I be able to get my earnest money back?

Also if the lender also states that they can no longer extend the loan, would I have any chance for this contract to be cancelled as I don't want to proceed with higher interest rates.

I'm getting opinion here because it's in the lenders/realtors interest to close this property rather than cancel it.

So basically i won't have any legal presence on any of the documents (deed, title and mortgage) but just another type of agreement?

Hi there,

If i agree with my friend and we split closing costs 50-50, could I own 50% of the house and can my friend still get primary residence conventional loan with 10-15% downpayment?

Please note that I cannot get any primary residence loan since I'm already using one and it hasn't been 1 year since I've closed on my property.

Hi there,

If i agree with my friend and we split closing costs 50-50, could I own 50% of the house and can my friend still get primary residence conventional loan with 10-15% downpayment?

Please note that I cannot get any primary residence loan since I'm already using one and it hasn't been 1 year since I've closed on my property. However my friend can get a primary residence loan and can live in that property.

Thanks I'll look for credit unions, so single credit union could provide 80-10-10 loan? Or do I need to ask 2 separate credit unions? 

Hello I've been reading that you can get a second loan providing that 10%, so that on the title it shows as I paid 20% downpayment hence it's not bound to PMI.

I'm wondering which lenders do that? Do I have to get 2 separate lenders and ask them to do the 10%? Do all lenders agree to be on the side that's providing 80% loan; and the same goes for lenders who want to be on the 10% side?

Thanks