This is why it is often hard to get "title insurance" necessary to build anything or even sell the property for XXX number of years after purchasing the property.

I saved a lot of money on my car insurance from Geico.com!

Also us that method for identifying the real estate attorney, insurance and real estate agent (s).

To the OP: Double closings aren't illegal, and title companies will still insure such transactions.

Add on taxes, insurance (this is hurricane territory, remember, and certainly in a flood zone, too), maintenance (they may have built roads and houses but this is ultimately a swamp), and property management (typically 10%, plus more everytime you have a vacancy), and you're certainly looking at close to two grand a month.

I've had this clause in most of the insurance policies I've had.

Insurance companies may be involved, and may pay a settlement to the lender for the damages, once the two of them agree on an amount.If this was a desirable area with sales going on, I would say the house would end up selling for something near its retail price in good condition, less the cost of the repairs.

I assume she's not making much cash flow, because the value is high and taxes and insurance would eat that up.

And finally, if they have ANY claim...they should submit it to their insurance co.

What are your thoughts on this statement: " getting the previous owner to keep the insurance on the property in his name to conceal the change in ownership is arguably conspiracy (two or more persons), mail fraud (something related to the insurance will go through the mail either from you or to you), concealment of a material fact, and false statement (to the insurance company about who is the current owner).