Originally posted by "Mikey":After that I just looked under umbrella policys and if you have enough insurance you shuld be just fine.

That's also why you have liability coverage during that ownership period, which covers you during that insured term and forever as well as any current policy you may have.I'd talk to a RE attorney as to the assessment of any risk in reality, I've never heard of a homeowner being sued 10 years later for any of those issues.Can they prove that mold existed prior to or on the day of sale?

Attorney had to report to court what their were for assets, and he only named the house and the $25,000 policy.

But, you may ask, why not keep the ex-owner's policy in place?

I agree with @William Robison and my personal policy is always....disclose, disclose, disclose ; )Good luck!

If the market decides to make a U turn and go down from here, we won't see much of a drop in home prices.Regardless if this economic recovery is real or Fed policy driven, we can't argue with history.

You can probably get away without all that until a neighbor gets upset about noise/parking issue or there's a fire and you discover your policy won't cover you.

They checked out perfect and I changed my mind (policy?)

Create your policies on the front end based on criteria that you've learned through your research here and via books and courses (like Mike Cantu and "Fixer" Jay Decima) as well as Mr.

Most lenders have a rate match policy anyway so they don't lose potential clientele because a competitor offered an interest rate thats an 8th cheaper.