What is the name of your state?
I reside in New Jersey. My house was on the market and during the final walk-thru, the buyer and their realtor discovered falling ceilings and water everywhere from a pipe that burst. The home was vacant and the water had probably been running for two days. A clean out/dry out/demolition company was dispatched by the insurance co. The house now sits with most of its interior walls and ceilings gone and the insurance co has the audacity to drag their feet re coverage for the repairs. It has now been three weeks and I still await a decision. The buyers still want the house. If I sell, can I assign the repair money to them? Is is legal that they can actually deny coverage??? The thermostate and boiler were on, although not as high as when someone occupied the residence. The house was constantly checked on by me, family and various realtors. I'm panicking!! The estimate for repairs acccording to the insurance company's contractor is $58,000. HELP!!
I reside in New Jersey. My house was on the market and during the final walk-thru, the buyer and their realtor discovered falling ceilings and water everywhere from a pipe that burst. The home was vacant and the water had probably been running for two days. A clean out/dry out/demolition company was dispatched by the insurance co. The house now sits with most of its interior walls and ceilings gone and the insurance co has the audacity to drag their feet re coverage for the repairs. It has now been three weeks and I still await a decision. The buyers still want the house. If I sell, can I assign the repair money to them? Is is legal that they can actually deny coverage??? The thermostate and boiler were on, although not as high as when someone occupied the residence. The house was constantly checked on by me, family and various realtors. I'm panicking!! The estimate for repairs acccording to the insurance company's contractor is $58,000. HELP!!