Blog Archives

Rebuild me to the new building code!

Insurance:  Ordinance and Law Coverage – What you need to know!

An important coverage available to building owners is “Building Ordinance and Law Coverage.” This coverage is sometimes included in property insurance policies and can be added by endorsement for an additional premium. In some situations (as mandated by Florida statutes) certain policies must include ordinance and law (O&L) coverage unless the client rejects the coverage in writing. Whether the coverage is statutorily required or not, it’s a very valuable option and all building owners (residential or otherwise) should be encouraged to obtain the coverage in order to provide the best possible protection. Read the rest of this entry

Pros and Cons of Mortgage Escrow Accounts – Part II

Continued from last week.

Downfalls of mortgage escrow accounts

There are several downfalls to escrow accounts. Basically, you are paying someone to do something you could do yourself (make payments on a schedule). Other downfalls occur when escrow accounts don’t work properly, when there is an overage or shortage, and due to missed opportunity cost. Read the rest of this entry

Understanding Homeowners Insurance in the Home Loan Process

There are several important steps in the home loan process, one of those required steps is obtaining homeowner’s insurance.  Below is a basic idea of the insurance process, and how the coverage’s work.
Understanding Homeowner’s insurance: Read the rest of this entry

Who REALLY understands Closings Costs anyway?!

Understanding Closing Costs

There are certain standard costs associated with closing the sale of a house. These fees are split between the buyer and seller, as spelled out in the purchase contract. The cost split on these fees is, to an extent, negotiable. As I negotiate the purchase contract on your behalf, I will strive to achieve not only the selling price that you want, but to also limit the number and amount of closing costs for which you are responsible. Read the rest of this entry