Second, there is no reason a lender, who just provided $600k to you, would not return your call or claim he doesn’t know what this is about.

They claim that the property was just rehabbed but even with the 50% rule, I should be safe.

Have you had to file a claim against Arcana?

How often have you made an FPI claim and been paid?

Thanks Todd.Maybe I should have mentioned that the property I'm going to purchase is thru a quit claim deed.I do appreciate your quick response.

In a nutshell, you could buy the property and start making repairs and the owner can sue you and claim the property was not legally abandoned, just vacant and in bad shape.

Most of them suck and have 8 million exclusions, not to mention few of them are meant for commercial use meaning as soon as they find out it's a rental they'll disallow the claim. 

I'm sorry you had a rough experience with our property management division but your attacks against me are not valid and they are empty claims.

. * Don't allow financing or a finance contingency (it can be a good indication they are selling above market value)* Don't allow for your own independent property inspection* Are not realistic with their pro forma's (i.e. they don't include vacancy or maintenance projections or use      unrealistically low vacancy factors)* Require you to pay for any renovation upfront* Sell only in cheap. low end neighborhoods* Don't accurately represent the neighborhood/property classification* Don't have consistent rehab standards for all properties* Don't provide a scope of work for the property* Can't provide references of repeat investors* Require you to close before a tenant is in place

Is there an exclusion that ends up with no coverage for the claim?