Not much more to say about this, just a tip.
As the length of time it takes to sell your home increases, many sellers are faced with the situation where they end up buying a new home and moving into it, leaving their old home empty, waiting for a buyer to appear.
Here’s the problem.
Most insurance policies terminate if your home becomes vacant for more than 30 days.
If something should happen, like a flood, fire, or should some potential buyer end up falling down on your (unshoveled) front walk, you could be in trouble. Your insurance company could deny coverage.
The solution is to have someone live in the property (“full-time”) for several days, each month.
We encountered this situation when we were selling my parents’ home. The property was vacant for six months (um, wait, actually, a year and six months) while we decided what to do with the house (we ended up donating it to charity). If something had happened during that time, the insurance company would have had a good case for not paying out anything.
More: How to get coverage for vacant properties – The Boston Herald
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Updated: 1st Q 2018
