The other week Jeff Geoghan from Your Lancaster Home stopped by to ask me what are some “hot button” issues for insurance companies when it comes to older city homes in Lancaster PA area. Jeff explained that there have been a number of instances in his 7 years of brokering homes for sale in Lancaster City and the boroughs where the insurance suddenly becomes a “front burner” issue because a problem or barrier to securing coverage is uncovered.
We reveiw some common issues that can trigger concerns on the part of insurance companies and how these things are quite common in older homes. Buyers need to be aware of these issues BEFORE they write a contract on the home. Otherwise, buyers may forced to buy a very expensive home insurance policy, if they can find insurance at all, or the closing date may be delayed.
Check out other great real estate tips on Jeff’s Youtube Channel – Lancaster PA Real Estate