Will an insurance claim affect my sale?

Obtaining hazard insurance on property can sometimes be a challenge.  This is because of the extraordinary losses that insurance companies have paid out from disasters and mold claims.

Since lenders require hazard insurance to be in place prior to close of escrow, unknown claims discovered prior to close could be frustrating and/or expensive through a delayed close date, or renegotiating the purchase price should the buyer in contract on your property not be able to close escrow.

Its prudent to order a CLUE (Comprehensive Loss Underwriting Exchange)  report from your insurance carrier to disclose any claims that may have been made on the property over the last five years.  Your insurance agent, for a small fee, can order this document for you, or you can order it yourself online from www.choicetrust.com-you can obtain one free report a year by signing up on the site, which does require a social security number to order the report.

I am ready to sell my property

The good news is that San Francisco is and has been for a long time, a very desirable place to live.  Supply has historically been short of demand, so prices remain stable in down markets and appreciate in up markets. With equity in property and changes in personal financial ability, many homeowners find it possible to make the next move-either moving up, or accumulating property for retirement.

There are many things to consider in the sale of your property, such as establishing the target market, marketing schedule, and an appropriate list price that will generate maximum exposure to the property.  If you are selling a property to purchase a replacement, timing will be even more important. Then there is the discussion about what repairs, remodeling, or market preparations are needed.

You may need to refinance to pull cash out for a down payment (if that is possible financing wise-that will depend on what is available at the time), or find out what you can afford once you sell. Check out my posting on this site ‘Getting started with financing’

The key to making the marketing and sale of a property go smoothly is when there is planning and preparation.  That means getting your house looking ship-shape and ready for interested buyers to view, and having presale inspection reports and disclosures available for review when marketing begins.

A comprehensive list of the items that should be considered to be accomplished to make your home the most presentable for a prospective buyer can be found in my posting on this site ‘Presenting your Property Checklist’