Insuring foreclosed properties

[blake9801]

What is the name of your state? MO

Bank owned property. No seller's disclosure, no idea if the roof has been replaced since home was built in 1991. Insurance co. may not insure because of hail damage in the past couple years to other properties in area.
I'm trying to see if I can get information from county for a roofing permit in the past couple years but county website is currently not working.
Can anyone tell me if an insurance company can access infomation on whether a claim was submitted for hail damage to roof or do I have to know the agent and the company previous homeowners used?
Thanks for any information you can give me!
-blake9801
BTW- Home has been inspected but current weather prevents anyone from getting on very steep roof covered in snow for past couple weeks.What is the name of your state?

 

[nextwife]

You can try calling your agent and see if some sort of claim database exists.

But, a recommendation:

Foreclosed property is as is. No warranties, little information. Personally, I recommend these ONLY for either people "in the reades" who have ready access to a host of buddies to help with any needed repair, really handy buyers who can do the work themselves, investors or rehabbers who realize and accept that there WILL be a host of repair needs and can do them, or buyers who come into the property with plenty of equity and cash from a prior home and are willing and able to take on surprise repairs.

The following should NOT buy foreclosed free standing properties (the risk for apartment type condos is far less): first time low cash buyers or buyers stretching to afford the property.

 

[moburkes]

Yes, when you go to get insurance on the property, the insurance company will be able to see what claims were submitted on the house in previous years. They will not, however, just provide you with the information. You have to be trying to get insurance through that company.

 

[paradise105pw]

just curious--

is the possible need of repair or replacement the only concern of purchasing the house? i am a real estate broker & licensed general contractor. my advice to you would be to:

wait until you can view the roof
check the ceilings for water stains
plan on needing additional repairs
if repairing the roof will break your bank-look at other homes

foreclosed homes have many expensive surprises.
good luck! you'll find the right home! hang in there!

 

[paradise105pw]

insuring foreclosed properties

one other very important investigation for you is the conditions of cesspools, septics or just buried buckets

there could be illegal systems draining into a lake, systems installed under the cover of darkness and therefor illegal, hidden and insufficient. i don't know if the bank has to disclose this info because it is a foreclosure and "as is". could cost you over a hundred grand for remove and replace, engineering, town meetings for variances. huge problem.
good luck! but beware!